Duolingo (DUOL) EBITDA Margin (2020 - 2026)
Duolingo (DUOL) posted EBITDA Margin of 11.37% for Q2 2026, down 25.42% on a QoQ basis from 15.25% in Q1 2026, and down 185.0% year-over-year from 13.38% in Q2 2025.
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Duolingo (DUOL) EBITDA Margin (2020 - 2026) Analysis & Trends
Duolingo has reported EBITDA Margin for 7 years, with the latest figure at 11.37% in Q2 2026.
- On a quarterly basis, EBITDA Margin fell 185.0% year-over-year to 11.37% in Q2 2026; TTM through Jun 2026 was 13.72%, a 418.0% increase from a year earlier, with the FY2025 full-year figure at 13.07%, up 470.0% from the prior year.
- EBITDA Margin was 11.37% for Q2 2026 at Duolingo, down from 15.25% in the prior quarter.
- The five-year high for EBITDA Margin was 15.36% in Q4 2025, with the low at 20.99% in Q3 2022.
- Average EBITDA Margin over 5 years is 1.71%, with a median of 6.84% recorded in 2024.
- The largest YoY upside for EBITDA Margin was 2414 bps in 2022 against a maximum downside of 1620 bps in 2022.
- Over 5 years, EBITDA Margin stood at 17.48% in 2022, then jumped by 118 bps to 3.18% in 2023, then surged by 109 bps to 6.62% in 2024, then soared by 132 bps to 15.36% in 2025, then slipped by 26 bps to 11.37% in 2026.
- The last three EBITDA Margin figures came in at 11.37% (Q2 2026), 15.25% (Q1 2026), and 15.36% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Duolingo | 14.45 Bn | 13.13 Bn | 216.74 Mn | 11.37% |
| 2 | Youdao | 3.62 Bn | 3.50 Bn | 105.66 Mn | 7.58% |
| 3 | Coursera | 1.59 Bn | 604.41 Mn | 173.40 Mn | -28.37% |
| 4 | Docebo | 712.07 Mn | 666.36 Mn | 54.53 Mn | 3.76% |
| 5 | 51Talk Online Education | 344.94 Mn | 309.51 Mn | 22.97 Mn | -4.56% |
| 6 | iHuman | 124.70 Mn | -34.09 Mn | 17.68 Mn | -5.50% |
| 7 | Nerdy | 119.95 Mn | 90.19 Mn | 27.98 Mn | -14.98% |
| 8 | Chegg | 94.28 Mn | 21.96 Mn | 28.28 Mn | -6.12% |
| 9 | Skillsoft | 60.79 Mn | -57.58 Mn | 78.61 Mn | -8.78% |
| 10 | Sunlands Technology | 39.07 Mn | 38.85 Mn | - | 23.78% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.37% |
| Mar 31, 2026 | 15.25% |
| Dec 31, 2025 | 15.36% |
| Sep 30, 2025 | 12.94% |
| Jun 30, 2025 | 13.23% |
| Mar 31, 2025 | 10.23% |
| Dec 31, 2024 | 6.62% |
| Sep 30, 2024 | 7.05% |
| Jun 30, 2024 | 10.49% |
| Mar 31, 2024 | 9.81% |
| Dec 31, 2023 | 3.18% |
| Sep 30, 2023 | -3.39% |
| Jun 30, 2023 | -3.84% |
| Mar 31, 2023 | -7.37% |
| Dec 31, 2022 | -17.48% |
| Sep 30, 2022 | -20.99% |
| Jun 30, 2022 | -17.01% |
| Mar 31, 2022 | -14.59% |
| Dec 31, 2021 | -23.85% |
| Sep 30, 2021 | -45.13% |