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Duolingo DUOL Operating Income

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Other financials

Income statement

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Revenue$298.5M+18.3%
Gross profit$216.7M+18.7%
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

Reported directly by Duolingo in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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

Filed
Aug 5, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053603
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Sales and marketing40,00729,56379,25656,225
General and administrative50,59345,98596,93989,435
Total operating expenses182,795149,218351,364289,720
Income from operations33,94533,36378,47256,957
Other (expense) income, net(410)1,660(1,196)2,661
Income before interest income and income taxes33,53535,02377,27659,618
Interest income11,83111,42723,64221,842
Income before income taxes45,36646,450100,91881,460

Item 1. Financial Statements (Unaudited)

FAQ

What is Duolingo's operating income?
Duolingo (DUOL) reported operating income of $33.95M in Q2 2026.
How has Duolingo's operating income changed year-over-year?
Duolingo's operating income increased by 1.7% year-over-year, from $33.36M to $33.95M.
What is the long-term trend for Duolingo's operating income?
Over 3 years (2021 to 2025), Duolingo's operating income has grown at a 31.2% compound annual growth rate (CAGR), from -$60.01M to $135.57M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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