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Duolingo (DUOL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Duolingo (DUOL) reported revenue of $292M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before. Operating margin was 15.3%, net earnings $43.5M (14.9% of revenue).
Duolingo, Q1 2026: revenue $292M (+26% year over year), operating margin 15.3%, net earnings $43.5M, operating cash flow $151M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $292M | +3% | +27% |
| Gross profit | $213M | +4% | +30% |
| Operating profit | $44.5M | +2% | +89% |
| Net earnings | $43.5M | +4% | +24% |
| Operating cash flow | $151M | +41% | +43% |
| Free cash flow | $148M | — | +43% |
What changed
Revenue was $292.0M in Q1 2026, up 27% year over year and up 3% from the previous quarter. Subscription was the largest line at 86% of revenue. Subscription added $59.9M year over year (up 31%), 98% of the total change. In-App Purchases declined 11%.
Gross margin was 73.0%, up 1.9 points from Q1 2025. Operating profit was $44.5M, a 15.3% margin (up 5.0 points year over year). Of the extra revenue versus Q1 2025, 34% reached operating profit, above the 10% margin then. Operating expenses grew 20% against revenue growth of 27%. The fastest-growing cost line was Sales & marketing (+47%). Net earnings were $43.5M, up 24% year over year. The effective tax rate was 21.8%.
Operating cash flow was $150.8M (up 43% year over year), 347% of net earnings. Non-cash charges added back $4.2M of depreciation and amortization and $34.6M of share-based compensation. Working capital and other items added $68.5M. After capitalized software development costs and purchases of intangible assets ($2.9M) and purchases of property and equipment ($132K), free cash flow as the company reports it was $147.8M.
Questions
What was Duolingo's revenue in the first quarter 2026?
Duolingo (DUOL) reported revenue of $292M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before.
Was Duolingo profitable in the first quarter 2026?
Operating profit was $44.5M (15.3% of revenue) and net earnings $43.5M.
Source: Duolingo 10-Q on SEC EDGAR.