Filing Flows › Duolingo (DUOL) › Q3 2026 › vs Q3 2025
Duolingo (DUOL) Q3 2026 vs Q3 2025 (year over year)
Duolingo's revenue rose $37.3M (+14%) from $272M in Q3 2025 to $309M in Q3 2026. The biggest changes: Subscription +$40.5M (+18%); IAPs −$4.2M (-38%); Other +$1.0M (+221%). Gross margin 72.9% against 72.5% (+0.4 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 72.9% | 72.5% | +0.4 pts |
| Operating margin | 7.8% | 12.9% | -5.1 pts |
| Net margin | 8.8% | 107.5% | -98.7 pts |
| Free cash flow margin | 24.4% | 28.5% | -4.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Subscription | $270M | $229M | $40.5M | +18% |
| Advertising | $20.8M | $21.0M | −$199K | -0.9% |
| Duolingo English Test | $9.9M | $9.6M | $205K | +2% |
| IAPs | $6.9M | $11.1M | −$4.2M | -38% |
| Other | $1.5M | $458K | $1.0M | +221% |
| Revenue | $309M | $272M | $37.3M | +14% |
| Gross profit | $225M | $197M | $28.2M | +14% |
| Cost of revenue | $83.9M | $74.8M | $9.1M | +12% |
| Other income, net | $11.4M | $11.3M | $81K | +0.7% |
| Operating profit | $24.2M | $35.2M | −$11.0M | -31% |
| Operating expenses | $201M | $162M | $39.2M | +24% |
| Pre-tax earnings | $35.6M | $46.4M | −$10.9M | -23% |
| Research & development | $108M | $82.7M | $25.0M | +30% |
| Sales & marketing | $42.2M | $35.1M | $7.1M | +20% |
| General & admin | $51.0M | $44.0M | $7.1M | +16% |
| Net earnings | $27.2M | $292M | −$265M | -91% |
| Income tax | $8.4M | −$246M | $254M | — |
| Depreciation & amortization | $4.3M | $3.6M | $727K | +20% |
| Share-based compensation | $47.5M | $35.6M | $11.9M | +33% |
| Working capital & other | $10.5M | −$247M | $258M | — |
| Operating cash flow | $89.4M | $84.2M | $5.2M | +6% |
| Free cash flow (company-reported) | $75.3M | $77.4M | −$2.0M | -3% |
| Purchases of property and equipment | $11.0M | $4.9M | $6.1M | +126% |
| Capitalized software development costs and purchases of intangible assets | $3.1M | $2.0M | $1.1M | +55% |
Questions
How much did Duolingo's revenue grow year over year in Q3 2026?
Duolingo's revenue rose $37.3M (+14%) from $272M in Q3 2025 to $309M in Q3 2026.
What drove Duolingo's revenue change in Q3 2026?
Subscription +$40.5M (+18%); IAPs −$4.2M (-38%); Other +$1.0M (+221%).