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Other financials

Income statement

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Revenue$298.5M+18.3%
Gross profit$216.7M+18.7%
Operating income$33.9M+1.7%
Net income$33.2M-26.0%
EPS (diluted)$0.66-27.5%

Balance sheet

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Cash & equivalents$184.9M+104%
Total debt$86.1M+121%
Total equity$1.4B+44.3%
Total assets$2.1B+34.4%

Cash flow

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Operating cash flow$88.3M-2.7%
CapEx$6.9M+476%
Free cash flow$81.4M-9.1%

Valuation

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Market cap$5.74B-63.3%
Enterprise value$5.64B-63.8%
P/E14×-119×
P/S-12.6×

Profitability

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Gross margin72.7%+0.7pp
Operating margin13.7%+4.2pp
Net margin35.9%+22.6pp
FCF margin35.6%-1.5pp

Returns & leverage

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Return on equity34.4%+21.0pp
Debt / equity0.1×0.0×
Current ratio2.7×-0.1×

Where this comes from

Calculated from Duolingo’s reported figures.

$33.9Mebit+
$4.2MDepreciation Depletion & Amortization
=$38.19M

The source filing: Duolingo’s 10-Q, filed August 6, 2026. Open the filing →

Filed
Aug 5, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053603

FAQ

What is Duolingo's EBITDA?
Duolingo (DUOL) reported EBITDA of $38.19M in Q2 2026.
How has Duolingo's EBITDA changed year-over-year?
Duolingo's EBITDA increased by 3.8% year-over-year, from $36.8M to $38.19M.
What is the long-term trend for Duolingo's EBITDA?
Over 4 years (2021 to 2025), Duolingo's EBITDA has grown at a 27.2% compound annual growth rate (CAGR), from -$57.28M to $149.96M.
What does EBITDA mean?
Earnings before interest, taxes, depreciation, and amortization — EBIT plus the D&A add-back from the cash-flow statement (EBITDA = EBIT + D&A). A proxy for cash earnings that strips out financing, tax, and non-cash charges.

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