Filing Flows › Duolingo (DUOL) › Q3 2026 › vs Q2 2026
Duolingo (DUOL) Q3 2026 vs Q2 2026 (quarter over quarter)
Duolingo's revenue rose $10.6M (+4%) from $298M in Q2 2026 to $309M in Q3 2026. The biggest changes: Subscription +$11.9M (+5%); IAPs −$1.1M (-14%); Duolingo English Test −$255K (-3%). Gross margin 72.9% against 72.6% (+0.2 pts).
Duolingo, Q3 2026: revenue $309M (+14% year over year), operating margin 7.8%, net earnings $27.2M, operating cash flow $89.4M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 72.9% | 72.6% | +0.2 pts |
| Operating margin | 7.8% | 11.4% | -3.5 pts |
| Net margin | 8.8% | 11.1% | -2.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Subscription | $270M | $258M | $11.9M | +5% |
| Advertising | $20.8M | $21.1M | −$232K | -1% |
| Duolingo English Test | $9.9M | $10.1M | −$255K | -3% |
| IAPs | $6.9M | $8.0M | −$1.1M | -14% |
| Other | $1.5M | $1.3M | $212K | +17% |
| Revenue | $309M | $298M | $10.6M | +4% |
| Gross profit | $225M | $217M | $8.4M | +4% |
| Cost of revenue | $83.9M | $81.7M | $2.2M | +3% |
| Other income, net | $11.4M | $11.4M | −$50K | -0.4% |
| Operating profit | $24.2M | $33.9M | −$9.7M | -29% |
| Operating expenses | $201M | $183M | $18.1M | +10% |
| Pre-tax earnings | $35.6M | $45.4M | −$9.8M | -22% |
| Research & development | $108M | $92.2M | $15.6M | +17% |
| Sales & marketing | $42.2M | $40.0M | $2.1M | +5% |
| General & admin | $51.0M | $50.6M | $439K | +0.9% |
| Net earnings | $27.2M | $33.2M | −$6.0M | -18% |
| Income tax | $8.4M | $12.2M | −$3.8M | -31% |
| Depreciation & amortization | $4.3M | $4.2M | $33K | +0.8% |
| Share-based compensation | $47.5M | $38.2M | $9.3M | +24% |
| Working capital & other | $10.5M | $12.6M | −$2.1M | -17% |
| Operating cash flow | $89.4M | $88.3M | $1.2M | +1% |
Questions
How much did Duolingo's revenue grow quarter over quarter in Q3 2026?
Duolingo's revenue rose $10.6M (+4%) from $298M in Q2 2026 to $309M in Q3 2026.
What drove Duolingo's revenue change in Q3 2026?
Subscription +$11.9M (+5%); IAPs −$1.1M (-14%); Duolingo English Test −$255K (-3%).