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Duolingo (DUOL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Duolingo (DUOL) reported revenue of $298M for the second quarter 2026 (Q2 2026), +18% from a year earlier and +2% from the quarter before. Operating margin was 11.4%, net earnings $33.2M (11.1% of revenue).
Duolingo, Q2 2026: revenue $298M (+18% year over year), operating margin 11.4%, net earnings $33.2M, operating cash flow $88.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $298M | +2% | +18% |
| Gross profit | $217M | +2% | +19% |
| Operating profit | $33.9M | -24% | +2% |
| Net earnings | $33.2M | -24% | -26% |
| Operating cash flow | $88.3M | -41% | -3% |
| Free cash flow | $78.6M | — | — |
What changed
Revenue was $298.5M in Q2 2026, up 18% year over year and up 2% from the previous quarter. Subscription was the largest line at 86% of revenue. Subscription added $47.4M year over year (up 22%), 103% of the total change. IAPs declined 23%.
Gross margin was 72.6%, up 0.2 points from Q2 2025. Operating profit was $33.9M, a 11.4% margin (down 1.9 points year over year). Of the extra revenue versus Q2 2025, 1% reached operating profit, below the 13% margin then. Operating expenses grew 23% against revenue growth of 18%. The fastest-growing cost line was Sales & marketing (+35%). Net earnings were $33.2M, down 26% year over year. The effective tax rate was 26.9%. Non-operating items added $11.4M, 25% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $88.3M (down 3% year over year), 266% of net earnings. Non-cash charges added back $4.2M of depreciation and amortization and $38.2M of share-based compensation. Working capital and other items added $12.6M. After purchases of property and equipment ($6.9M) and capitalized software development costs and purchases of intangible assets ($2.7M), free cash flow as the company reports it was $78.6M.
Questions
What was Duolingo's revenue in the second quarter 2026?
Duolingo (DUOL) reported revenue of $298M for the second quarter 2026 (Q2 2026), +18% from a year earlier and +2% from the quarter before.
Was Duolingo profitable in the second quarter 2026?
Operating profit was $33.9M (11.4% of revenue) and net earnings $33.2M.
Source: Duolingo 10-Q on SEC EDGAR.