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Just reported
Q3 2026 results
From Duolingo's results release of November 3, 2026; its quarterly report has since been filed.
Revenue
Actual
$309M
+14% y/y
+3.5% q/qGuided
—
No guide given
EPS, GAAP
Actual
$0.54
-91% y/y
-18% q/qGuided
—
No guide given
Operating income, GAAP
Actual
$24.2M
-31% y/y
-29% q/qGuided
—
No guide given
Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.
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How it makes money
- Paid app subscriptions, reported as License and Service86%
- Advertising7%
- Duolingo English Test4%
- In-app purchases3%
Shares of revenue are estimates for three months ended March 31, 2026, not figures from a filing.
Competes with
- Babbel
- Rosetta Stone
- Educational Testing Service (ETS)
What it sells6
Duolingo app
A mobile and web app with short lessons in languages, math, music, and chess. Its language courses are available free, with ads for non-paying users.
Super Duolingo
A paid app subscription that removes ads and adds features; its family plan covers up to six subscribers.
Duolingo Max
A higher-priced subscription with Super features plus additional exercises and features powered by artificial intelligence (AI).
Show 3 more
Duolingo English Test
An online English proficiency test that people can take remotely, including for university admissions.
Duolingo ABC
An app that teaches young children early reading skills.
Duolingo for Schools
A web-based tool that helps teachers use Duolingo lessons in a structured classroom setting.
Who buys it4
- People who pay for Super Duolingo or Duolingo Max, directly or through an annual family plan.
- Free app users whose lessons include advertisements; advertising revenue is earned from ads served through advertising networks.
- People who pay to take the Duolingo English Test for admissions, work, or other purposes.
- App users who buy virtual goods inside the app.
What it stands on, and what could break it
What the business leans on
- 1The company relies on the Apple App Store and Google Play Store to distribute its apps and collect payments; changes to their terms, fees, or access could affect its business.
- 2It relies on outside hosting and cloud providers, including Amazon Web Services and Google Cloud, for parts of its services.
- 3Its subscription business depends on users continuing to use the app and choosing to pay for subscriptions; its advertising revenue depends on free users and advertiser demand.
- 4The English Test depends in part on schools and other institutions continuing to accept its scores.
What could go wrong
- 1If users stop using the app, engage with it less, or do not become or remain paying subscribers, revenue could be harmed.
- 2Language-learning apps compete for users’ time and spending, with low switching costs and a steady flow of new products and competitors.
- 3Disruption to app-store distribution or payment services, or unfavorable changes to app-store terms or fees, could interfere with reaching users and collecting payments.
About Duolingo, Inc.
Its app teaches languages, math, music, and chess through short exercises. Free users see ads; paid subscribers get an ad-free experience and extra features. For the three months ended June 30, 2026, Duolingo averaged 58.7 million daily active users (high) and 140.6 million monthly active users (high); it had 12.7 million paid subscribers at June 30, 2026 (high). It also sells an online English proficiency test used for purposes such as university admissions and job applications.
- Head office
- Pittsburgh, Pennsylvania, United States
- Founded
- 2011
- Employees
- 900+ (December 31, 2025, high)
- Listed on
- Nasdaq Global Select Market
- Financial year ends
- December 31
Built from Duolingo, Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.
