Duolingo (DUOL) EBITDA (2020 - 2026)
Duolingo (DUOL) posted EBITDA of $33.9 million for Q2 2026, down 23.77% on a QoQ basis from $44.5 million in Q1 2026, and up 1.74% year-over-year from $33.4 million in Q2 2025.
Analysis
Duolingo (DUOL) EBITDA (2020 - 2026) Analysis & Trends
Duolingo has reported EBITDA for 7 years, with the latest figure at $33.9 million in Q2 2026.
- On a quarterly basis, EBITDA rose 1.74% year-over-year to $33.9 million in Q2 2026; TTM through Jun 2026 was $157.1 million, a 86.09% increase from a year earlier, with the FY2025 full-year figure at $135.6 million, up 116.58% from the prior year.
- EBITDA was $33.9 million for Q2 2026 at Duolingo, down from $44.5 million in the prior quarter.
- The five-year high for EBITDA was $44.5 million in Q1 2026, with the low at -$20.2 million in Q3 2022.
- Average EBITDA over 5 years is $11.0 million, with a median of $13.7 million recorded in 2024.
- The sharpest annual moves came in 2022 and 2024: EBITDA plunged 3045.19% in 2022, then surged 484.38% in 2024.
- Over 5 years, EBITDA stood at -$18.2 million in 2022, then soared by 126.42% to $4.8 million in 2023, then jumped by 189.51% to $13.9 million in 2024, then surged by 213.02% to $43.5 million in 2025, then decreased by 21.88% to $33.9 million in 2026.
- The last three EBITDA figures came in at $33.9 million (Q2 2026), $44.5 million (Q1 2026), and $43.5 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Duolingo | 14.45 Bn | 13.13 Bn | 216.74 Mn | 33.95 Mn |
| 2 | Youdao | 3.62 Bn | 3.50 Bn | 105.66 Mn | 16.38 Mn |
| 3 | Coursera | 1.59 Bn | 604.41 Mn | 173.40 Mn | -84.70 Mn |
| 4 | Docebo | 712.07 Mn | 666.36 Mn | 54.53 Mn | 2.58 Mn |
| 5 | 51Talk Online Education | 344.94 Mn | 309.51 Mn | 22.97 Mn | -1.42 Mn |
| 6 | iHuman | 124.70 Mn | -34.09 Mn | 17.68 Mn | -1.46 Mn |
| 7 | Nerdy | 119.95 Mn | 90.19 Mn | 27.98 Mn | -6.48 Mn |
| 8 | Chegg | 94.28 Mn | 21.96 Mn | 28.28 Mn | -3.18 Mn |
| 9 | Skillsoft | 60.79 Mn | -57.58 Mn | 78.61 Mn | -8.30 Mn |
| 10 | Sunlands Technology | 39.07 Mn | 38.85 Mn | - | 14.19 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.95 Mn |
| Mar 31, 2026 | 44.53 Mn |
| Dec 31, 2025 | 43.45 Mn |
| Sep 30, 2025 | 35.16 Mn |
| Jun 30, 2025 | 33.36 Mn |
| Mar 31, 2025 | 23.59 Mn |
| Dec 31, 2024 | 13.88 Mn |
| Sep 30, 2024 | 13.57 Mn |
| Jun 30, 2024 | 18.70 Mn |
| Mar 31, 2024 | 16.44 Mn |
| Dec 31, 2023 | 4.80 Mn |
| Sep 30, 2023 | -4.67 Mn |
| Jun 30, 2023 | -4.87 Mn |
| Mar 31, 2023 | -8.52 Mn |
| Dec 31, 2022 | -18.15 Mn |
| Sep 30, 2022 | -20.16 Mn |
| Jun 30, 2022 | -15.03 Mn |
| Mar 31, 2022 | -11.85 Mn |
| Dec 31, 2021 | -17.42 Mn |
| Sep 30, 2021 | -28.70 Mn |