Duolingo Quarterly Income Statement
NASDAQ: DUOLTechnologyComputer Software: Prepackaged SoftwareUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Duolingo revenue and earnings
In the quarter ended Jun 30, 2026, Duolingo generated $298.5 million in revenue, up 18.3% from the same quarter a year earlier. Net income was $33.2 million (-26.0% year over year), for a net margin of 11.1% versus a median of 15.2% in the prior 5 quarters. Gross margin was 72.6% (up from 72.4%) and operating margin 11.4%.
Diluted earnings per share came in at $0.66, down from $0.91.
Summary generated from market data by MetaCap's automated system. Methodology
Duolingo income statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 298.45M | 291.97M | 282.87M | 271.71M | 252.26M | 230.74M | 209.55M | 192.59M | 178.33M | 167.55M | 150.99M | 137.62M |
| Revenue growth (YoY) | +18.31% | +26.53% | +34.99% | +41.08% | +41.46% | +37.71% | +38.79% | +39.94% | +40.59% | +44.87% | +45.42% | +43.26% |
| Cost of Revenue | 81.71M | 78.87M | 77.00M | 74.80M | 69.68M | 66.65M | 58.92M | 52.18M | 47.35M | 45.19M | 40.57M | 36.25M |
| Gross Profit | 216.74M | 213.10M | 205.87M | 196.91M | 182.58M | 164.10M | 150.63M | 140.41M | 130.98M | 122.36M | 110.41M | 101.37M |
| Operating Expenses | 182.79M | 168.57M | 162.41M | 161.75M | 149.22M | 140.50M | 136.74M | 126.84M | 112.28M | 105.92M | 105.62M | 106.04M |
| Research & Development | 92.19M | 82.97M | 79.56M | 82.71M | 73.67M | 70.39M | 66.39M | 62.88M | 55.15M | 50.88M | 50.26M | 50.30M |
| Selling, General & Admin | 90.60M | 85.59M | 82.86M | 79.05M | 75.55M | 70.11M | 70.35M | 63.96M | 57.13M | 55.05M | 55.36M | 55.73M |
| Operating Income | 33.95M | 44.53M | 43.45M | 35.16M | 33.36M | 23.59M | 13.88M | 13.57M | 18.70M | 16.44M | 4.79M | -4.67M |
| Other Income (Expense) | -410.00K | -786.00K | -549.00K | -503.00K | 1.66M | 1.00M | -2.23M | 569.00K | -707.00K | -621.00K | 1.05M | -1.02M |
| Pretax Income | 45.37M | 55.55M | 54.50M | 46.45M | 46.45M | 35.01M | 22.35M | 25.39M | 28.71M | 25.85M | 15.13M | 2.93M |
| Income Tax | 12.21M | 12.09M | 12.55M | -245.75M | 1.67M | -125.00K | 8.45M | 2.03M | 4.36M | -1.10M | 3.02M | 125.00K |
| Net Income | 33.16M | 43.46M | 41.95M | 292.19M | 44.78M | 35.13M | 13.91M | 23.36M | 24.35M | 26.96M | 12.12M | 2.81M |
| Net Income growth (YoY) | -25.96% | +23.69% | +201.68% | +1150.83% | +83.90% | +30.34% | +14.77% | +732.21% | +553.72% | — | — | — |
| EPS (Basic) | 0.71 | 0.93 | 0.93 | 6.36 | 0.98 | 0.78 | 0.32 | 0.53 | 0.56 | 0.63 | 0.29 | 0.07 |
| EPS (Diluted) | 0.66 | 0.89 | 0.99 | 5.95 | 0.91 | 0.72 | 0.31 | 0.49 | 0.51 | 0.57 | 0.27 | 0.06 |
| Shares Outstanding (Diluted) | 50.03M | 48.99M | — | 49.14M | 49.00M | 48.50M | — | 47.97M | 47.77M | 47.35M | — | 46.95M |
| EBITDA | 38.19M | 48.72M | 47.26M | 38.71M | 36.80M | 27.18M | 17.54M | 16.45M | 20.94M | 18.51M | 6.84M | -3.01M |
| Gross Margin | 72.62% | 72.99% | 72.78% | 72.47% | 72.38% | 71.12% | 71.88% | 72.91% | 73.45% | 73.03% | 73.13% | 73.66% |
| Operating Margin | 11.37% | 15.25% | 15.36% | 12.94% | 13.23% | 10.23% | 6.62% | 7.05% | 10.49% | 9.81% | 3.18% | -3.39% |
| Net Margin | 11.11% | 14.89% | 14.83% | 107.54% | 17.75% | 15.23% | 6.64% | 12.13% | 13.66% | 16.09% | 8.03% | 2.04% |
This table shows 12 quarterly periods of Duolingo's income statement, from Q2 2026 back to Q3 2023, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow DUOL's reporting calendar. What is a income statement?