Duolingo, Inc.
duolingo.comWhat Do They Do?
Offers a mobile learning app with language courses and courses in other subjects, plus an online English-proficiency test for learners and people demonstrating English skills for school, work visas or jobs.
10-K for FY2025, filed Feb 27, 2026Our flagship app has organically become the world’s most popular way to learn languages and the top-grossing Education app in the app…View ↗
While languages remain our core focus, we began expanding into additional subjects aligned with our mission to develop the best education…View ↗
In 2016, we launched the Duolingo English Test, an online, on-demand assessment of English proficiency. Every year, millions of people…View ↗
How Do They Make Money?
Subscription fees are the main source: learners pay monthly or upfront for a year of added features. Advertisers pay for ad impressions when ads are placed; test takers pay a one-time fee, and users buy virtual goods in the app.
10-K for FY2025, filed Feb 27, 2026Revenue from time-based subscriptions includes a stand-ready obligation to provide hosting services that are consumed by the customer over…View ↗
The Company enters into arrangements with advertising networks to monetize the in-app advertising inventory. Revenue from in-app…View ↗
Duolingo English Test revenue is generally recognized once the tests have gone through the proctoring process and a certification decision…View ↗
The Company’s users have the option to purchase consumable in-app virtual goods. The Company recognizes revenue over the period in which…View ↗
$1B
-
10-K for FY2025, filed Feb 27, 2026
$1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription
Recurring
10-K for FY2025, filed Feb 27, 2026 |
84%
FY2022: 74%
|
Subscription, FY2025
$873.4M Sources
|
Recurring |
|
Advertising
Usage-based
|
7.7%
FY2022: 12%
|
Advertising, FY2025
$79.7M Sources
|
Usage-based |
|
Duolingo English Test
Sold outright
|
4.1%
FY2022: 8.9%
|
Duolingo English Test, FY2025
$42M Sources
|
Sold outright |
|
IAPs
Usage-based
|
3.9% |
IAPs, FY2025
$40.5M Sources
|
Usage-based |
|
Other
Sold outright
|
0.2%
FY2022: 0.2%
|
Other, FY2025
$1.9M Sources
|
Sold outright |
Who Are Their Customers?
Learners access free courses in the app and can buy subscriptions through app stores; test takers pay for online English assessments, while advertising networks buy ad placements.
10-K for FY2025, filed Feb 27, 2026The Duolingo App is the world’s most popular way to learn languages. Accessible for free, as of December 31, 2025 it offers over 250 total…View ↗
Principal Agent Considerations—The Company makes its application available to be downloaded through third-party digital distribution…View ↗
In addition to monetizing the Duolingo App, we generate revenue from the Duolingo English Test by charging test takers a one-time fee.…View ↗
For users who are unable or unwilling to pay a subscription fee, we provide free access to our product and generate advertising revenue…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 40 cents of every revenue dollar as net income in FY2025 and turned 36 cents into free cash flow.
10-K for FY2025, filed Feb 27, 2026
$135.6MView ↗
10-K for FY2025, filed Feb 27, 2026
$414.1MView ↗
10-K for FY2025, filed Feb 27, 2026
$369.7MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Growing. Revenue grew 4.1x in 4 years, from $250.8M in FY2021 to $1B in FY2025, about 43% a year.
More subjects
The latest report adds music and chess courses alongside language and math learning, and describes these courses as part of the Duolingo App.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 27, 2026We believe that there is an opportunity to diversify the scope of our platform beyond language learning to a variety of subjects, using the…View ↗
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