Duolingo, Inc. (DUOL) stock

DUOLNasdaqServices-Prepackaged SoftwareFiscal year ends December 31

Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 4, 2026Score 15/3030% above fair value

$165.31+7.89 (+5.01%)

Close on Nov 13, 2026Market cap $7.73BP/E 55.5Yield –

Duolingo gross margin

Gross margin is gross profit as a percentage of revenue.

Duolingo's gross margin for the twelve months ending Sep 30, 2026 was 72.8%. For fiscal 2025 it was 72.2%, against 72.8% the year before. The highest annual figure on record is 73.2% in fiscal 2023.

Annual gross margin

Period	Period end	Value	Change (pts)
FY2025	Dec 31, 2025	72.2%	−0.5
FY2024	Dec 31, 2024	72.8%	−0.5
FY2023	Dec 31, 2023	73.2%	+0.2
FY2022	Dec 31, 2022	73.1%	+0.7
FY2021	Dec 31, 2021	72.4%	+0.9
FY2020	Dec 31, 2020	71.6%	–

Quarterly gross margin

Change is against the same quarter a year earlier.

Period	Period end	Value	Change (pts)
Q3 FY2026	Sep 30, 2026	72.9%	+0.4
Q2 FY2026	Jun 30, 2026	72.6%	+0.2
Q1 FY2026	Mar 31, 2026	73.0%	+1.9
Q4 FY2025	Dec 31, 2025	72.8%	+0.9
Q3 FY2025	Sep 30, 2025	72.5%	−0.4
Q2 FY2025	Jun 30, 2025	72.4%	−1.1
Q1 FY2025	Mar 31, 2025	71.1%	−1.9
Q4 FY2024	Dec 31, 2024	71.9%	−1.2
Q3 FY2024	Sep 30, 2024	72.9%	−0.8
Q2 FY2024	Jun 30, 2024	73.4%	+0.1
Q1 FY2024	Mar 31, 2024	73.0%	+0.3
Q4 FY2023	Dec 31, 2023	73.1%	−0.1
Q3 FY2023	Sep 30, 2023	73.7%	+1.0
Q2 FY2023	Jun 30, 2023	73.4%	+0.4
Q1 FY2023	Mar 31, 2023	72.8%	−0.8
Q4 FY2022	Dec 31, 2022	73.3%	+0.6
Q3 FY2022	Sep 30, 2022	72.6%	+1.0
Q2 FY2022	Jun 30, 2022	73.0%	+0.4
Q1 FY2022	Mar 31, 2022	73.5%	+0.7
Q4 FY2021	Dec 31, 2021	72.7%	−0.7
Q3 FY2021	Sep 30, 2021	71.6%	+0.5
Q2 FY2021	Jun 30, 2021	72.6%	+2.1
Q1 FY2021	Mar 31, 2021	72.9%	–
Q4 FY2020	Dec 31, 2020	73.4%	–
Q3 FY2020	Sep 30, 2020	71.1%	–
Q2 FY2020	Jun 30, 2020	70.5%	–