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Companies / Technology / Duolingo, Inc.
DUOL

Duolingo, Inc.

TechnologyPrepackaged Software
Ticker DUOLPITTSBURGH, PAFiscal year ends DecemberBook value per share $28.15Diluted shares 50.1M

Duolingo, Inc. (NASDAQ: DUOL) operates as a technology-driven education platform with a mission to develop the best education in the world and make it universally available. The company's website is www.duolingo.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.04B
+38.7% year over year
Last 12 mo $1.15B
13.07%
+4.7 percentage points
Last 12 mo 13.72%
$414.06M
+367.5% year over year
Last 12 mo $410.77M
30.74%
+20 percentage points
Last 12 mo 29.14%
Cash & financing
$387.82M
+35.8% year over year
Last 12 mo $430.55M
$369.73M
+35.2% year over year
Last 12 mo $402.34M
—
48.3M
+2.6% year over year
Last 12 mo 50.1M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Duolingo, Inc. does

In the company’s own words

Duolingo, Inc. (NASDAQ: DUOL) operates as a technology-driven education platform with a mission to develop the best education in the world and make it universally available. The company's website is www.duolingo.com.

The flagship Duolingo App serves as the world's most popular language learning platform, offering over 250 language courses to more than 130 million monthly active users as of December 31, 2025. The app operates on a freemium model, allowing users to access all learning content without payment while generating revenue through optional paid subscriptions and advertisements. The company has expanded beyond language learning to include Math, Music, and Chess courses, all integrated into the main application.

Duolingo's core products include Super Duolingo and Duolingo Max subscription tiers that provide ad-free experiences and premium features powered by artificial intelligence. The Duolingo English Test, launched in 2016, represents a significant complementary offering, providing online English proficiency assessments accepted by over 6,100 education programs worldwide, including all Ivy League institutions and 24 of the top 25 undergraduate programs in the United States by international enrollment. The company also offers Duolingo for Schools, a web-based tool for classroom integration, and Duolingo ABC, an app targeting early literacy for young children.

As of December 31, 2025, Duolingo employed more than 900 people, including over 430 engineers. The platform processes nearly two billion exercises daily, creating what the company describes as the world's largest learning dataset. This data foundation enables sophisticated artificial intelligence and machine learning capabilities that personalize instruction and drive product innovation.

The company's competitive differentiation stems from two reinforcing flywheels: a learning flywheel that improves engagement and efficacy through data-driven experimentation, and an investment flywheel that channels user scale and word-of-mouth growth into product innovation rather than expensive marketing. Approximately nine percent of monthly active users maintained paid subscriptions as of December 31, 2025. The company's brand has achieved significant cultural prominence, becoming synonymous with language learning and generating substantial organic user acquisition through word-of-mouth and social media virality.

Company details
Sector
Technology
Industry
Prepackaged Software
Headquarters
PITTSBURGH, PA
Fiscal year end
December
CIK
1562088
SIC
7372

Financial performance, year by year

Fiscal 2021–2025 · USD
$-180.65M$180.89M$542.43M$903.97M$1.27B20212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Duolingo, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

305
funds hold it
0 of 35
superinvestors hold it
$1.42B
held by funds, at market
31.0%
of shares held by funds

Largest fund holders · Duolingo, Inc.’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.13%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets
VANGUARD U.S. GROWTH FUND
VWUSX · VANGUARD WORLD FUND
0.20%of fund net assets
Federated Hermes MDT Mid Cap Growth Fund
FGSAX · Federated Hermes Equity Funds
1.33%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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