Duolingo (DUOL) Revenue & Revenue Breakdown
Duolingo Revenue Highlights
Latest Revenue (Y)
$531.11M
Latest Revenue (Q)
$167.55M
Main Segment (Y)
License and Service
Main Geography (Y)
All Countries Minus USA And UK
Duolingo Revenue by Period
Duolingo Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $531.11M | 43.74% |
| 2022-12-31 | $369.50M | 47.34% |
| 2021-12-31 | $250.77M | 55.09% |
| 2020-12-31 | $161.70M | 128.51% |
| 2019-12-31 | $70.76M | 138645.10% |
| 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
| Date | Revenue | Change |
|---|---|---|
| 2024-03-31 | $167.55M | 10.97% |
| 2023-12-31 | $150.99M | 9.71% |
| 2023-09-30 | $137.62M | 8.50% |
| 2023-06-30 | $126.84M | 9.66% |
| 2023-03-31 | $115.66M | 11.40% |
| 2022-12-31 | $103.82M | 8.08% |
| 2022-09-30 | $96.06M | 8.69% |
| 2022-06-30 | $88.39M | 8.82% |
| 2022-03-31 | $81.22M | 11.24% |
| 2021-12-31 | $73.01M | 14.81% |
| 2021-09-30 | $63.59M | 8.15% |
| 2021-06-30 | $58.80M | 6.22% |
| 2021-03-31 | $55.36M | 14.69% |
| 2020-12-31 | $48.27M | 6.54% |
| 2020-09-30 | $45.30M | 13.23% |
| 2020-06-30 | $40.01M | 42.33% |
| 2020-03-31 | $28.11M | - |
Duolingo generated $167.55M in revenue during Q1 2024, up 10.97% compared to the previous quarter, and up 161.38% compared to the same period a year ago.
Duolingo Revenue Breakdown
Duolingo Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 21 |
|---|---|
| English Test | $24.66M |
| License and Service | $180.70M |
| Product and Service, Other | $6.92M |
| Advertising | $38.50M |
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/Service | Mar 24 | Dec 21 | Sep 21 | Jun 21 |
|---|---|---|---|---|
| Product and Service, Other | $234.00K | $2.67M | $1.84M | $1.41M |
| Advertising | $12.95M | $11.14M | $9.03M | $9.06M |
| English Test | $12.76M | $8.10M | $6.70M | $4.83M |
| License and Service | $131.69M | $51.11M | $46.03M | $43.50M |
Duolingo's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: License and Service (83.54%), Advertising (8.22%), English Test (8.09%), and Product and Service, Other (0.15%).
Duolingo Revenue Breakdown by Country
Annual Revenue by Country
| Country | Dec 22 | Dec 21 |
|---|---|---|
| UNITED STATES | $168.32M | $109.16M |
| All Countries Minus USA And UK | $169.64M | $116.45M |
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
| Country | Dec 21 | Sep 21 | Jun 21 |
|---|---|---|---|
| English Test | $8.10M | $6.70M | $4.83M |
| 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 |
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
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| NOW | ServiceNow | $8.97B | $2.63B |
| TEAM | Atlassian | $4.36B | $1.19B |
| CDNS | Cadence Design Systems | $4.09B | $1.06B |
| SNOW | Snowflake | $2.81B | $868.82M |
| U | Unity Software | $2.19B | $449.26M |
| HUBS | HubSpot | $2.17B | $617.41M |
| DDOG | Datadog | $2.13B | $645.28M |
| TTD | Trade Desk | $1.95B | $584.55M |
| PAYC | Paycom Software | $1.69B | $437.51M |
| BILL | Bill.com | $1.29B | $323.03M |
| SMAR | Smartsheet | $958.34M | $262.98M |
| MNDY | monday | $729.70M | $216.91M |
| ASAN | Asana | $652.50M | $172.45M |
| GTLB | GitLab | $579.91M | $169.19M |
| DUOL | Duolingo | $531.11M | $167.55M |
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 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). The company's quarterly revenue for Q4 2023 was $150.98M, a 9.71% increase from the previous quarter (Q3 2023), and a 45.42% increase year-over-year (Q4 2022). DUOL's quarterly revenue for Q3 2023 was $137.62M, a 8.50% increase from the previous quarter (Q2 2023), and a 43.26% increase year-over-year (Q3 2022).
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 English Test, License and Service, Product and Service, Other, and Advertising. 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 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
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.