NASDAQ$DUOL
Duolingo · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Duolingo reported Q4 2025 revenue of $282.9M and net income of $42.0M.
Q4 revenue grew 35% to $282.9 million; bookings rose 24%. Net income was $42.0 million with adjusted EBITDA of $84.3 million (29.8% margin). DAUs grew 30% year over year. Management issued 2026 guidance for bookings growth of 10–12% and revenue growth of 15–18%.
- Q4 revenue $282.9M (+35% YoY); bookings +24%.
- Adjusted EBITDA $84.3M; margin +490 bps YoY.
- 50M+ DAUs; subscription mix supports gross margin expansion.
- FY26 outlook: revenue +15–18%; adjusted EBITDA margin ~25%.
Headline financials
Revenue & EPS history
Duolingo · Revenue · Quarterly
$283M
Revenue by segment
Duolingo · $115M total across 2 segments · Q3 2023
- Subscription bookings$106M+46.7%91.8%
- Other bookings$9.45M+85.9%8.2%
Forward guidance
FY26 bookings growth 10–12% and revenue growth 15–18%; Q1 bookings ~11% and revenue ~25% (21% constant currency). Adjusted EBITDA margin ~25% for the year.
Tailwinds
- DAU growth and subscription mix support monetization.
- Share repurchase authorization in place.
- Adjusted EBITDA margin expansion target for Q4 2026.
Headwinds
- S&M deleverage in Q2 before back-half improvement.
- Stock-based compensation ~15% of revenue in 2026.
- FX and engagement seasonality.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+5.3%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+9.4%
Avg return
30 days after
61%
14 / 23 earnings
Positive
+42.5%
Q1 2022
Best reaction
-25.5%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -3.0% | -4.7% | |
| Q4 2025 | +12.0% | -18.1% | -18.8% | |
| Q3 2025 | -25.5% | -25.0% | -23.2% | |
| Q1 2025 | +21.6% | +23.9% | +29.9% | |
| Q4 2024 | -17.0% | -22.1% | -16.2% | |
| Q3 2024 | +4.2% | +5.0% | +21.6% | |
| Q2 2024 | +8.4% | +10.1% | +26.2% | |
| Q1 2024 | -19.4% | -27.3% | -24.1% | |
| Q4 2023 | +22.8% | +15.5% | +13.4% | |
| Q3 2023 | +23.4% | +29.7% | +30.5% | |
| Q2 2023 | +3.4% | -0.9% | +11.5% | |
| Q1 2023 | +12.0% | +7.3% | +19.4% | |
| Q4 2022 | +24.7% | +34.0% | +52.8% | |
| Q3 2022 | -4.6% | -4.1% | -10.8% | |
| Q2 2022 | -1.4% | -5.9% | -11.2% | |
| Q1 2021 | +27.1% | +18.5% | +39.4% | |
| Q1 2022 | +42.5% | +29.0% | +48.2% | |
| Q4 2021 | -3.0% | +3.9% | +24.3% | |
| Q3 2020 | -7.3% | -6.8% | -36.8% | |
| Q3 2021 | +3.3% | -4.3% | -34.8% | |
| Q2 2020 | +0.5% | -1.8% | +27.5% | |
| Q4 2020 | +0.5% | -1.8% | +27.5% | |
| Q2 2021 | -4.4% | -3.6% | +23.8% | |
| Q1 2020 | — | — | — |
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