Financials in USD. Standardized financial statements.
A compact view of how Duolingo, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Revenue? | $1.04B | $748.02M | $531.11M | $369.50M | $250.77M | $161.70M | $70.76M |
| Revenue Growth? | +38.7% | +40.8% | +43.7% | +47.3% | +55.1% | +128.5% | 0.0% |
| Cost of Revenue? | $293.87M | $209.19M | $147.18M | $103.43M | $69.88M | $46.53M | $21.36M |
| Gross Profit? | $743.72M | $538.84M | $383.93M | $266.06M | $180.89M | $115.16M | $49.40M |
| Gross Margin? | +71.7% | +72.0% | +72.3% | +72.0% | +72.1% | +71.2% | +69.8% |
| Operating Expenses? | $602.49M | $475.27M | $396.85M | $330.62M | $236.99M | $130.89M | $62.30M |
| Operating Income? | $141.24M | $63.57M | -$12.92M | -$64.56M | -$56.10M | -$15.73M | -$12.90M |
| EBITDA? | $155.63M | $74.42M | -$5.83M | -$59.69M | -$53.37M | -$13.47M | -$11.65M |
| Income Before Tax | $182.41M | $102.31M | $17.78M | -$58.64M | -$59.96M | -$15.71M | -$13.55M |
| Income Tax Expense | -$231.66M | $13.73M | $1.71M | $938,000 | $177,000 | $68,000 | $0 |
| Net Income? | $414.06M | $88.57M | $16.07M | -$59.57M | -$60.13M | -$15.78M | -$13.55M |
| EPS? | $9.05 | $2.04 | $0.35 | $-1.51 | $-1.57 | $-0.44 | $-0.38 |
| Diluted EPS? | $8.57 | $1.88 | $0.35 | $-1.51 | $-1.57 | $-0.44 | $-0.38 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality