Duolingo, Inc. (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, Inc. (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
Historic Data
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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, Inc. 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();