Company data sheet · Duolingo
Duolingo: from profit to three straight losses.
- Industry
- Prepackaged Software
- Headquarters
- United States
- Ticker
- DUOL (Nasdaq)
- Sources
- SEC filings (2012–2026), Stratrix's verified Decision Cases, market data and official economic statistics for the United States
- Data as of
- October 18, 2026
- From profit to three straight losses. Duolingo lost money every year from 2020 to 2022: $0.1 billion in all. 2023 was its first profit in four years: $0 billion.
- The cycle hit it too. The losses began in 2020, when the US economy shrank 2.1%. Part of the damage came from outside; the test is whether it recovered when the economy did.
- A steady bench. Duolingo filed 6 leadership changes since 2016, fewer than 76% of large service companies (the median is 16).
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2020 | $0.2 billion | −$0 billion | |
| 2021 | $0.3 billion | −$0.1 billion | |
| 2022 | $0.4 billion | −$0.1 billion | |
| 2023 | $0.5 billion | $0 billion | |
| 2024 | $0.7 billion | $0.1 billion | |
| 2025 | $1 billion | $0.4 billion |
As reported in its annual filings. Losses in red.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Market reaction to disclosed decisions: 9 decision filings since 2016, each linked to the SEC, with the share return against its sector and the S&P 500 the next day and the next year (6 with market data).
- Economic context: 7 measures for the United States, every year since 2016, from the official sources.
- Peer comparison: against 528 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
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