Stocks Technology DUOL
NASDAQ · TechnologyDuolingo, Inc. (DUOL)
Duolingo, Inc. brought in $1.2B of revenue over the twelve months to September 30, 2026, up 22.6% from a year earlier. Net income was $145.7M, a net margin of 12.3%. Operating cash flow minus capital spending left $369.7M of free cash flow in fiscal 2025. At September 30, 2026 it held $1.2B in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 4, 2026.
Key facts about Duolingo, Inc.
- Net worth
- Duolingo, Inc. has a market value (market cap) of $7.2B at the latest share price, and shareholders' equity of $1.5B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $1B (+38.7% year on year), with net income of $414.1M. Over the 12 months to September 30, 2026: revenue $1.2B, net income $145.7M.
- Cash flow
- In fiscal 2025 operations brought in $387.8M of cash; after $18.1M of capital spending, free cash flow was $369.7M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 4, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Duolingo, Inc.'s next report is expected around January 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Duolingo, Inc. does
Duolingo, Inc. is registered with the SEC under industry code SIC 7372 (Services-Prepackaged Software). Its shares trade on NASDAQ under the ticker DUOL.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $1B | $414.1M | $8.57 | $369.7M |
| 2024 | $748M | $88.6M | $1.88 | $273.4M |
| 2023 | $531.1M | $16.1M | $0.35 | $150.4M |
| 2022 | $369.5M | -$59.6M | -$1.51 | $48.1M |
| 2021 | $250.8M | -$60.1M | -$2.57 | $5.6M |
| 2021 | $161.7M | -$15.8M | -$1.24 | $14.3M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where DUOL ranks in Technology
Latest SEC filings
What Duolingo, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 4, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 14% to $309M versus the same quarter last year; diluted EPS $0.54 versus $5.95.
- November 3, 2026
- October 30, 2026Passive stake changed SCHEDULE 13G/A
- October 20, 2026Passive stake changed SCHEDULE 13G/A
- August 19, 2026
- August 12, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026Passive stake (5% or more) SCHEDULE 13G
- August 10, 2026
- August 6, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 18% to $298.5M versus the same quarter last year; diluted EPS $0.66 versus $0.91.
- August 5, 2026
What is DUOL worth? A DCF from its reported cash flow
Insider trades
What the people running Duolingo, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $39.7M worth of shares in the last 90 days and bought none on the open market. Most of the selling (99%) was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 4, 2026 | Chen Stephen C.General Counsel | Soldpre-planned (10b5-1) | 3,700 | $647.5K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 300 | $39.6K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 300 | $40K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 300 | $40.4K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 3,941 | $534.1K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 1,759 | $239.7K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 1,326 | $182.5K |
| November 2, 2026 | Gordon William BDirector | Soldpre-planned (10b5-1) | 1,374 | $190.2K |
Who owns DUOL
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Baillie Gifford & Co13G, passive | 12.4% | November 4, 2025 |
| Von Ahn Luis13G, passive | 8.2% | August 12, 2026 |
| AQR Capital Management, LLC13G, passive with 1 related filers | 5.8% | August 12, 2026 |
| Vanguard Capital Management13G, passive | 5.1% | July 31, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 434 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Baillie Gifford & Co | 4,824,298 | -51,512 |
| BlackRock, Inc. | 3,867,080 | -119,386 |
| Aqr Capital Management LLC | 2,332,543 | +2,222,495 |
| Vanguard Capital Management LLC | 1,745,689 | +22,557 |
| Two Sigma Investments, LP | 1,629,242 | +233,698 |
| FIL Ltd | 1,603,554 | -19,251 |
| Vanguard Portfolio Management LLC | 1,603,280 | -29,370 |
| Federated Hermes, Inc. | 1,371,817 | +118,791 |
| State of Michigan Retirement System | 1,306,107 | +112,800 |
| State Street Corp | 1,229,391 | +45,747 |
| Bank of America Corp | 1,190,378 | -141,923 |
| Fmr LLC | 1,131,136 | +37,797 |
| UBS Group AG | 1,026,002 | -72,060 |
| PeakShares LLC | 1,000 | 0 |
| Geode Capital Management, LLC | 769,071 | -49,257 |
| Goldman Sachs Group Inc | 624,532 | +272,081 |
| Quinn Opportunity Partners LLC | 555,664 | +58,302 |
| Morgan Stanley | 506,166 | -447,603 |
| Gilder Gagnon Howe & Co LLC | 502,344 | -6,206 |
| Whale Rock Capital Management LLC | 471,764 | 0 |
Insiders
14 insiders reported holding 653,361 shares in total, about $100.8M at the last price.
| Holder | Shares |
|---|---|
| Meese RobertChief Business Officer | 169,391 |
| Glance NatalieChief Engineering Officer | 169,111 |
| Munson GillianChief Financial Officer | 137,662 |
| Gordon William BDirector | 58,415 |
| Chen Stephen C.General Counsel | 40,069 |
| Skaruppa MatthewChief Financial Officer | 31,631 |
| Shelton James HDirector | 11,853 |
| Lilly III John OsborneDirector | 9,121 |
| Bohutinsky AmyDirector | 7,766 |
| Clemens SaraDirector | 5,955 |
Questions about DUOL
What does Duolingo, Inc. do?
Duolingo, Inc. is a company in the Technology sector, listed on NASDAQ as DUOL. Its shares trade on NASDAQ under the ticker DUOL.
What is Duolingo, Inc.'s net worth?
Duolingo, Inc. has a market value (market cap) of $7.2B at the latest share price, and shareholders' equity of $1.5B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Duolingo, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $145.7M on revenue of $1.2B, a net margin of 12.3%.
How much revenue does Duolingo, Inc. make?
Over the twelve months to September 30, 2026 Duolingo, Inc. reported revenue of $1.2B. That is 22.6% more than a year earlier.
When did Duolingo, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 4, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the insider trade from November 5, 2026.
When is Duolingo, Inc.'s next earnings report?
Duolingo, Inc.'s next report is expected around January 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Duolingo, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.