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Duolingo vs Manhattan Associates: DUOL and MANH compared
Duolingo is the larger company: $309M of revenue in its latest quarter (Q3 2026) against $306M for Manhattan Associates (Q3 2026). Duolingo is growing faster (+14% against +11% a year earlier). Manhattan Associates is more profitable, with an operating margin of 26.5% against 7.8%.
Where the money goes: DUOL and MANH
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.
Manhattan Associates (MANH) · Q3 2026
Manhattan Associates, Q3 2026: revenue $306M (+11% year over year), operating margin 26.5%, net earnings $61.3M, operating cash flow $68.6M. The chart follows the revenue to costs, profit and cash.
| Duolingo (DUOL) | Manhattan Associates (MANH) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $309M | $306M |
| Revenue growth, Y/Y | +14% | +11% |
| Gross margin | 72.9% | — |
| Operating margin | 7.8% | 26.5% |
| Net earnings | $27.2M | $61.3M |
| Net margin | 8.8% | 20.0% |
| Operating cash flow | $89.4M | $68.6M |
| Free cash flow | $75.3M | $67.6M |
| Market value | $7.5B | $14.0B |
| P/E | 48.7× | 66.7× |
| Analysts’ mean target | $149.48 | $276.00 |
Where the revenue comes from
Duolingo
- Subscription: $270M (87%)
- Advertising: $20.8M (7%)
- Duolingo English Test: $9.9M (3%)
- IAPs: $6.9M (2%)
Manhattan Associates
- Cloud Subscriptions: $134M (44%)
- Service Other: $134M (44%)
- Maintenance: $29.2M (10%)
- Hardware: $4.5M (1%)
Questions
Which is bigger, Duolingo or Manhattan Associates?
Duolingo is the larger company: $309M of revenue in its latest quarter (Q3 2026) against $306M for Manhattan Associates (Q3 2026).
Is Duolingo or Manhattan Associates growing faster?
Duolingo is growing faster (+14% against +11% a year earlier).
Which is more profitable, Duolingo or Manhattan Associates?
Manhattan Associates is more profitable, with an operating margin of 26.5% against 7.8%.
More: Duolingo earnings · how Duolingo makes money · Manhattan Associates earnings · how Manhattan Associates makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.