Duolingo (DUOL) Shares Outstanding (Diluted) (2020 - 2026)
Duolingo's Shares Outstanding (Diluted) came in at 50.03 million for Q2 2026, up 2.1% from 49 million a year earlier and up 2.1% from the prior quarter.
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Analysis
Duolingo (DUOL) Shares Outstanding (Diluted) (2020 - 2026) Analysis & Trends
For FY2025, Duolingo's Shares Outstanding (Diluted) was 48.31 million, up 2.6% from FY2024.
- Shares Outstanding (Diluted) has increased in each of the last five years, with a five-year compound annual growth rate of 30.6% (FY2020 to FY2025).
- Going back by year, Shares Outstanding (Diluted) was 47.1 million in FY2024 (+1.2%), 46.52 million in FY2023 (+17.9%), 39.47 million in FY2022 (+68.4%) and 23.43 million in FY2021 (+84.0%).
- The Q2 2026 figure represents the highest quarterly Shares Outstanding (Diluted) in data going back to Q2 2020.
- Year-over-year, Shares Outstanding (Diluted) has increased for 20 consecutive quarters, with growth averaging 2.1% over the last eight quarters.
- The year-over-year growth in Shares Outstanding (Diluted) has ranged between 1.0% (Q1 2026) and 198.8% (Q1 2022) over the last five years.
- Business Quant data shows DUOL's Shares Outstanding (Diluted) at 48.99 million (Q1 2026), 48.31 million (Q4 2025) and 49.14 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 165.06 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 590.46 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 590.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 114.98 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 | 50.03 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 59.00 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 404.40 Mn |
| 10 | Bentley Systems | 9.44 Bn | 8.90 Bn | 336.74 Mn | 318.96 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 50.03 Mn |
| Mar 31, 2026 | 48.99 Mn |
| Dec 31, 2025 | 48.31 Mn |
| Sep 30, 2025 | 49.14 Mn |
| Jun 30, 2025 | 49.00 Mn |
| Mar 31, 2025 | 48.50 Mn |
| Dec 31, 2024 | 47.10 Mn |
| Sep 30, 2024 | 47.97 Mn |
| Jun 30, 2024 | 47.77 Mn |
| Mar 31, 2024 | 47.35 Mn |
| Dec 31, 2023 | 46.52 Mn |
| Sep 30, 2023 | 46.95 Mn |
| Jun 30, 2023 | 46.87 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 (Diluted) 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-diluted&ticker=DUOL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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-diluted&ticker=DUOL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();