Duolingo (DUOL) Net Margin (2020 - 2026)
Duolingo's Net Margin came in at 11.11% for Q2 2026, down 6.64 percentage points from 17.75% a year earlier and down 3.78 percentage points from the prior quarter.
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Analysis
Duolingo (DUOL) Net Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Duolingo reported Net Margin of 35.87%, up 22.64 percentage points year-over-year; for FY2025, it came in at 39.91%, up 28.07 percentage points from FY2024.
- Net Margin has increased in each of the last four years, with a five-year change of +49.66 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 11.84% in FY2024 (+8.82 pp), 3.03% in FY2023 (+19.15 pp), -16.12% in FY2022 (+7.86 pp) and -23.98% in FY2021 (-14.22 pp).
- The Q2 2026 figure represents the lowest quarterly Net Margin since Q4 2024.
- Year-over-year, Net Margin increased in four of the last eight quarters, with an average year-over-year change of +13.57 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q3 2025 (a gain of 95.41 percentage points), and the weakest in Q3 2021 (a drop of 38.54 percentage points).
- Business Quant data shows DUOL's Net Margin at 14.89% (Q1 2026), 14.83% (Q4 2025) and 107.54% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 29.47% |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 3.19% |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 8.07% |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 19.80% |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | -48.53% |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 11.11% |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 16.91% |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 5.95% |
| 10 | Bentley Systems | 9.44 Bn | 8.90 Bn | 336.74 Mn | 19.13% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.11% |
| Mar 31, 2026 | 14.89% |
| Dec 31, 2025 | 14.83% |
| Sep 30, 2025 | 107.54% |
| Jun 30, 2025 | 17.75% |
| Mar 31, 2025 | 15.23% |
| Dec 31, 2024 | 6.64% |
| Sep 30, 2024 | 12.13% |
| Jun 30, 2024 | 13.66% |
| Mar 31, 2024 | 16.09% |
| Dec 31, 2023 | 8.03% |
| Sep 30, 2023 | 2.04% |
| Jun 30, 2023 | 2.94% |
| Mar 31, 2023 | -2.23% |
| Dec 31, 2022 | -13.42% |
| Sep 30, 2022 | -19.20% |
| Jun 30, 2022 | -17.02% |
| Mar 31, 2022 | -14.96% |
| Dec 31, 2021 | -23.99% |
| Sep 30, 2021 | -45.55% |
API Access
Duolingo Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=DUOL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "DUOL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=DUOL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();