Duolingo (DUOL) Shares Outstanding (2020 - 2026)
Duolingo's Shares Outstanding was 46.7 million in Q2 2026, up 2.4% from 45.61 million a year earlier but down 0.2% from the prior quarter.
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Analysis
Duolingo (DUOL) Shares Outstanding (2020 - 2026) Analysis & Trends
For FY2025, Shares Outstanding at Duolingo came in at 45.77 million, up 5.2% from FY2024.
- Shares Outstanding has now increased for five consecutive years, with a five-year compound annual growth rate of 29.2% (FY2020 to FY2025).
- In earlier years, Shares Outstanding was 43.5 million in FY2024 (+5.0%), 41.45 million in FY2023 (+5.0%), 39.47 million in FY2022 (+68.4%) and 23.43 million in FY2021 (+84.0%).
- Quarterly Shares Outstanding has moved between 23.43 million (Q4 2021) and 46.79 million (Q1 2026) over five years.
- Compared with a year earlier, Shares Outstanding has increased for 21 straight quarters, with growth averaging 4.6% over the last eight quarters.
- Over the past five years, the year-over-year growth in Shares Outstanding ranged from 2.4% (Q2 2026) to 198.8% (Q1 2022).
- Per Business Quant data, DUOL's Shares Outstanding in the three quarters before Q2 2026 was 46.79 million (Q1 2026), 45.77 million (Q4 2025) and 45.95 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | 450.00 Mn |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 162.34 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 584.14 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 578.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 114.68 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 233.00 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 46.70 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 58.76 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 404.10 Mn |
| 10 | Bentley Systems | 9.44 Bn | 8.90 Bn | 336.74 Mn | 311.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 46.70 Mn |
| Mar 31, 2026 | 46.79 Mn |
| Dec 31, 2025 | 45.77 Mn |
| Sep 30, 2025 | 45.95 Mn |
| Jun 30, 2025 | 45.61 Mn |
| Mar 31, 2025 | 45.15 Mn |
| Dec 31, 2024 | 43.50 Mn |
| Sep 30, 2024 | 43.71 Mn |
| Jun 30, 2024 | 43.26 Mn |
| Mar 31, 2024 | 42.78 Mn |
| Dec 31, 2023 | 41.45 Mn |
| Sep 30, 2023 | 41.72 Mn |
| Jun 30, 2023 | 41.22 Mn |
| Mar 31, 2023 | 40.62 Mn |
| Dec 31, 2022 | 39.47 Mn |
| Sep 30, 2022 | 39.75 Mn |
| Jun 30, 2022 | 39.27 Mn |
| Mar 31, 2022 | 38.59 Mn |
| Dec 31, 2021 | 23.43 Mn |
| Sep 30, 2021 | 29.53 Mn |
API Access
Duolingo Shares Outstanding 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=shares-outstanding&ticker=DUOL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=DUOL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();