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Duolingo (DUOL) Revenue & Revenue Breakdown

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Duolingo Revenue Highlights

Latest Revenue (Y)

$531.11M

Latest Revenue (Q)

$192.59M

Main Segment (Y)

License and Service

Main Geography (Y)

All Countries Minus USA And UK

Duolingo Revenue by Period

Duolingo Revenue by Year

DateRevenueChange
2023-12-31$531.11M43.74%
2022-12-31$369.50M47.34%
2021-12-31$250.77M55.09%
2020-12-31$161.70M128.51%
2019-12-31$70.76M138645.10%
2001-12-31$51.00K-

Duolingo generated $531.11M in revenue during NA 2023, up 43.74% compared to the previous quarter, and up 1041390.20% compared to the same period a year ago.

Duolingo Revenue by Quarter

DateRevenueChange
2024-09-30$192.59M8.00%
2024-06-30$178.33M6.43%
2024-03-31$167.55M10.97%
2023-12-31$150.99M9.71%
2023-09-30$137.62M8.50%
2023-06-30$126.84M9.66%
2023-03-31$115.66M11.40%
2022-12-31$103.82M8.08%
2022-09-30$96.06M8.69%
2022-06-30$88.39M8.82%
2022-03-31$81.22M11.24%
2021-12-31$73.01M14.81%
2021-09-30$63.59M8.15%
2021-06-30$58.80M6.22%
2021-03-31$55.36M14.69%
2020-12-31$48.27M6.54%
2020-09-30$45.30M13.23%
2020-06-30$40.01M42.33%
2020-03-31$28.11M-

Duolingo generated $192.59M in revenue during Q3 2024, up 8.00% compared to the previous quarter, and up 151.84% compared to the same period a year ago.

Duolingo Revenue Breakdown

Duolingo Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 21
Product and Service, Other$6.92M
Advertising$38.50M
English Test$24.66M
License and Service$180.70M

Duolingo's latest annual revenue breakdown by segment (product or service), as of Dec 21: License and Service (72.06%), Advertising (15.35%), English Test (9.83%), and Product and Service, Other (2.76%).

Quarterly Revenue by Product

Product/ServiceSep 24Mar 24Dec 21Sep 21Jun 21
License and Service$157.62M$131.69M$51.11M$46.03M$43.50M
Product and Service, Other$34.98M$234.00K$2.67M$1.84M$1.41M
Product And Service, Other Miscellaneous$389.00K----
Advertising$14.40M$12.95M$11.14M$9.03M$9.06M
English Test$10.77M$12.76M$8.10M$6.70M$4.83M

Duolingo's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: License and Service (72.25%), Product and Service, Other (16.03%), Advertising (6.60%), English Test (4.94%), and Product And Service, Other Miscellaneous (0.18%).

Duolingo Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 22Dec 21
All Countries Minus USA And UK$169.64M$116.45M
UNITED STATES$168.32M$109.16M

Duolingo's latest annual revenue breakdown by geography, as of Dec 22: All Countries Minus USA And UK (50.19%), and UNITED STATES (49.81%).

Quarterly Revenue by Country

CountryDec 21Sep 21Jun 21
Advertising$11.14M$9.03M$9.06M
Product and Service, Other$2.67M$1.84M$1.41M
License and Service$51.11M$46.03M$43.50M
English Test$8.10M$6.70M$4.83M

Duolingo's latest quarterly revenue breakdown by geography, as of Dec 21: License and Service (70.00%), Advertising (15.26%), English Test (11.09%), and Product and Service, Other (3.65%).

Duolingo Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
NOWServiceNow$8.97B$2.80B
TEAMAtlassian$4.36B$1.19B
CDNSCadence Design Systems$4.09B$1.22B
SNOWSnowflake$2.81B$942.09M
UUnity Software$2.19B$446.52M
HUBSHubSpot$2.17B$669.72M
DDOGDatadog$2.13B$690.02M
TTDTrade Desk$1.95B$628.02M
PAYCPaycom Software$1.69B$451.93M
BILLBill.com$1.29B$358.45M
SMARSmartsheet$958.34M$286.87M
MNDYmonday$729.70M$216.91M
ASANAsana$652.50M$183.88M
GTLBGitLab$579.91M$196.05M
DUOLDuolingo$531.11M$192.59M

DUOL Revenue FAQ

What is Duolingo’s yearly revenue?

Duolingo's yearly revenue for 2023 was $531.11M, representing an increase of 43.74% compared to 2022. The company's yearly revenue for 2022 was $369.5M, representing an increase of 47.34% compared to 2021. DUOL's yearly revenue for 2021 was $250.77M, representing an increase of 55.09% compared to 2020.

What is Duolingo’s quarterly revenue?

Duolingo's quarterly revenue for Q3 2024 was $192.59M, a 8.00% increase from the previous quarter (Q2 2024), and a 39.94% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $178.33M, a 6.43% increase from the previous quarter (Q1 2024), and a 40.59% increase year-over-year (Q2 2023). DUOL's quarterly revenue for Q1 2024 was $167.55M, a 10.97% increase from the previous quarter (Q4 2023), and a 44.87% increase year-over-year (Q1 2023).

What is Duolingo’s revenue growth rate?

Duolingo's revenue growth rate for the last 3 years (2021-2023) was 111.79%, and for the last 5 years (2019-2023) was 650.58%.

What are Duolingo’s revenue streams?

Duolingo's revenue streams in c 21 are Product and Service, Other, Advertising, English Test, and License and Service. Product and Service, Other generated $6.92M in revenue, accounting 2.76% of the company's total revenue Advertising generated $38.5M in revenue, accounting 15.35% of the company's total revenue English Test generated $24.66M in revenue, accounting 9.83% of the company's total revenue License and Service generated $180.7M in revenue, accounting 72.06% of the company's total revenue

What is Duolingo’s main source of revenue?

For the fiscal year ending Dec 21, the largest source of revenue of Duolingo was License and Service. This segment made a revenue of $180.7M, representing 72.06% of the company's total revenue.