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 operating margin

Operating margin is operating income as a percentage of revenue.

Duolingo's operating margin for the twelve months ending Sep 30, 2026 was 12.4%. For fiscal 2025 it was 13.1%, against 8.4% the year before. The highest annual figure on record is 13.1% in fiscal 2025.

Annual operating margin

Period	Period end	Value	Change (pts)
FY2025	Dec 31, 2025	13.1%	+4.7
FY2024	Dec 31, 2024	8.4%	+10.9
FY2023	Dec 31, 2023	-2.5%	+15.1
FY2022	Dec 31, 2022	-17.6%	+6.3
FY2021	Dec 31, 2021	-23.9%	−14.0
FY2020	Dec 31, 2020	-9.9%	–

Quarterly operating margin

Change is against the same quarter a year earlier.

Period	Period end	Value	Change (pts)
Q3 FY2026	Sep 30, 2026	7.8%	−5.1
Q2 FY2026	Jun 30, 2026	11.4%	−1.9
Q1 FY2026	Mar 31, 2026	15.3%	+5.0
Q4 FY2025	Dec 31, 2025	15.4%	+8.7
Q3 FY2025	Sep 30, 2025	12.9%	+5.9
Q2 FY2025	Jun 30, 2025	13.2%	+2.7
Q1 FY2025	Mar 31, 2025	10.2%	+0.4
Q4 FY2024	Dec 31, 2024	6.6%	+3.4
Q3 FY2024	Sep 30, 2024	7.0%	+10.4
Q2 FY2024	Jun 30, 2024	10.5%	+14.3
Q1 FY2024	Mar 31, 2024	9.8%	+17.2
Q4 FY2023	Dec 31, 2023	3.2%	+20.7
Q3 FY2023	Sep 30, 2023	-3.4%	+17.6
Q2 FY2023	Jun 30, 2023	-3.8%	+13.2
Q1 FY2023	Mar 31, 2023	-7.4%	+7.2
Q4 FY2022	Dec 31, 2022	-17.5%	+6.4
Q3 FY2022	Sep 30, 2022	-21.0%	+24.1
Q2 FY2022	Jun 30, 2022	-17.0%	−16.2
Q1 FY2022	Mar 31, 2022	-14.6%	+9.6
Q4 FY2021	Dec 31, 2021	-23.9%	−2.0
Q3 FY2021	Sep 30, 2021	-45.1%	−38.4
Q2 FY2021	Jun 30, 2021	-0.8%	−1.0
Q1 FY2021	Mar 31, 2021	-24.2%	–
Q4 FY2020	Dec 31, 2020	-21.9%	–
Q3 FY2020	Sep 30, 2020	-6.8%	–
Q2 FY2020	Jun 30, 2020	0.2%	–