Duolingo (DUOL) Operating Expenses (2020 - 2026)
Duolingo (DUOL) posted Operating Expenses of $182.8 million for Q2 2026, up 22.5% from $149.22 million a year earlier and up 8.4% from the prior quarter.
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Analysis
Duolingo (DUOL) Operating Expenses (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Duolingo was $675.53 million, up 22.1% year-over-year; for FY2025, it came in at $613.89 million, up 27.4% from FY2024.
- Annual Operating Expenses has increased for five consecutive years, with a five-year compound annual growth rate of 36.0% (FY2020 to FY2025).
- In prior years, Duolingo's Operating Expenses was $481.78 million in FY2024 (+19.8%), $402.26 million in FY2023 (+20.0%), $335.26 million in FY2022 (+38.8%) and $241.59 million in FY2021 (+83.4%).
- The Q2 2026 figure stands as the highest quarterly Operating Expenses in data going back to Q2 2020.
- On a year-over-year basis, Operating Expenses has increased in each of the last 21 quarters, with growth averaging 25.4% over the last eight quarters.
- The year-over-year growth in Operating Expenses has ranged between 12.1% (Q4 2023) and 110.4% (Q3 2021) over the last five years.
- According to Business Quant data, Operating Expenses for the three prior quarters was $168.57 million (Q1 2026), $162.42 million (Q4 2025) and $161.75 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | 178,646.00 |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 420.93 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 387.71 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 364.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 323.96 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 542.90 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 182.80 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 231.56 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 652.00 Mn |
| 10 | Bentley Systems | 9.44 Bn | 8.90 Bn | 336.74 Mn | 248.13 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 182.80 Mn |
| Mar 31, 2026 | 168.57 Mn |
| Dec 31, 2025 | 162.42 Mn |
| Sep 30, 2025 | 161.75 Mn |
| Jun 30, 2025 | 149.22 Mn |
| Mar 31, 2025 | 140.50 Mn |
| Dec 31, 2024 | 136.74 Mn |
| Sep 30, 2024 | 126.84 Mn |
| Jun 30, 2024 | 112.28 Mn |
| Mar 31, 2024 | 105.92 Mn |
| Dec 31, 2023 | 105.62 Mn |
| Sep 30, 2023 | 106.04 Mn |
| Jun 30, 2023 | 97.92 Mn |
| Mar 31, 2023 | 92.69 Mn |
| Dec 31, 2022 | 94.21 Mn |
| Sep 30, 2022 | 89.93 Mn |
| Jun 30, 2022 | 79.55 Mn |
| Mar 31, 2022 | 71.58 Mn |
| Dec 31, 2021 | 70.48 Mn |
| Sep 30, 2021 | 74.22 Mn |
API Access
Duolingo Operating Expenses 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=operating-expenses&ticker=DUOL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=DUOL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();