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Box vs Duolingo: BOX and DUOL compared
Box is the larger company: $321M of revenue in its latest quarter (Q2 FY27) against $309M for Duolingo (Q3 2026). Duolingo is growing faster (+14% against +9% a year earlier). Box is more profitable, with an operating margin of 10.2% against 7.8%.
Where the money goes: BOX and DUOL
Box (BOX) · Q2 FY27
Box, Q2 FY27: revenue $321M (+9% year over year), operating margin 10.2%, net earnings $19.2M, operating cash flow $70.8M. The chart follows the revenue to costs, profit and cash.
Duolingo (DUOL) · Q3 2026
Duolingo, Q3 2026: revenue $309M (+14% year over year), operating margin 7.8%, net earnings $27.2M, operating cash flow $89.4M. The chart follows the revenue to costs, profit and cash.
| Box (BOX) | Duolingo (DUOL) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $321M | $309M |
| Revenue growth, Y/Y | +9% | +14% |
| Gross margin | 79.1% | 72.9% |
| Operating margin | 10.2% | 7.8% |
| Net earnings | $19.2M | $27.2M |
| Net margin | 6.0% | 8.8% |
| Operating cash flow | $70.8M | $89.4M |
| Free cash flow | $70.7M | $75.3M |
| Market value | $6.1B | $7.5B |
| P/E | 46.5× | 48.7× |
| Analysts’ mean target | $39.86 | $149.48 |
Where the revenue comes from
Duolingo
- Subscription: $270M (87%)
- Advertising: $20.8M (7%)
- Duolingo English Test: $9.9M (3%)
- IAPs: $6.9M (2%)
Questions
Which is bigger, Box or Duolingo?
Box is the larger company: $321M of revenue in its latest quarter (Q2 FY27) against $309M for Duolingo (Q3 2026).
Is Box or Duolingo growing faster?
Duolingo is growing faster (+14% against +9% a year earlier).
Which is more profitable, Box or Duolingo?
Box is more profitable, with an operating margin of 10.2% against 7.8%.
More: Box earnings · how Box makes money · Duolingo earnings · how Duolingo makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 26, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.