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Duolingo (DUOL) Revenue & Revenue Breakdown

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Duolingo Revenue Highlights

Latest Revenue (Y)

$748.02M

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
2024-12-31$748.02M40.84%
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 $748.02M in revenue during NA 2024, up 40.84% compared to the previous quarter, and up 1057.13% 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 24Dec 21
English Test$45.64M$24.66M
Advertising$54.91M$38.50M
Product and Service, Other$140.49M$6.92M
Product And Service, Other Miscellaneous$1.29M-
License and Service$607.53M$180.70M

Duolingo's latest annual revenue breakdown by segment (product or service), as of Dec 24: License and Service (71.49%), Product and Service, Other (16.53%), Advertising (6.46%), English Test (5.37%), and Product And Service, Other Miscellaneous (0.15%).

Quarterly Revenue by Product

Product/ServiceDec 24Sep 24Mar 24Dec 21Sep 21Jun 21
Product And Service, Other Miscellaneous$904.00K$389.00K----
Advertising$27.55M$14.40M$12.95M$11.14M$9.03M$9.06M
English Test$22.11M$10.77M$12.76M$8.10M$6.70M$4.83M
License and Service$318.23M$157.62M$131.69M$51.11M$46.03M$43.50M
Product and Service, Other$105.28M$34.98M$234.00K$2.67M$1.84M$1.41M

Duolingo's latest quarterly revenue breakdown by segment (product or service), as of Dec 24: License and Service (67.13%), Product and Service, Other (22.21%), Advertising (5.81%), English Test (4.66%), and Product And Service, Other Miscellaneous (0.19%).

Duolingo Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 24Dec 22Dec 21
UNITED STATES$311.54M$168.32M$109.16M
All Countries Minus USA And UK$436.49M$169.64M$116.45M

Duolingo's latest annual revenue breakdown by geography, as of Dec 24: All Countries Minus USA And UK (58.35%), and UNITED STATES (41.65%).

Quarterly Revenue by Country

CountryDec 21Sep 21Jun 21
Product and Service, Other$2.67M$1.84M$1.41M
Advertising$11.14M$9.03M$9.06M
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$10.98B$2.80B
CDNSCadence Design Systems$4.64B$1.22B
TEAMAtlassian$4.36B$1.29B
SNOWSnowflake$3.63B$942.09M
DDOGDatadog$2.68B$690.02M
HUBSHubSpot$2.63B$669.72M
TTDTrade Desk$2.44B$628.02M
PAYCPaycom Software$1.88B$451.93M
UUnity Software$1.81B$446.52M
BILLBill.com$1.29B$362.55M
GTLBGitLab$759.25M$196.05M
DUOLDuolingo$748.02M$192.59M
MNDYmonday$729.70M$216.91M
ASANAsana$723.88M$183.88M

DUOL Revenue FAQ

What is Duolingo’s yearly revenue?

Duolingo's yearly revenue for 2024 was $748.02M, representing an increase of 40.84% compared to 2023. The company's yearly revenue for 2023 was $531.11M, representing an increase of 43.74% compared to 2022. DUOL's yearly revenue for 2022 was $369.5M, representing an increase of 47.34% compared to 2021.

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 (2022-2024) was 102.44%, and for the last 5 years (2020-2024) was 362.61%.

What are Duolingo’s revenue streams?

Duolingo's revenue streams in c 24 are English Test, Advertising, Product and Service, Other, Product And Service, Other Miscellaneous, and License and Service. English Test generated $45.64M in revenue, accounting 5.37% of the company's total revenue, up 85.09% year-over-year. Advertising generated $54.91M in revenue, accounting 6.46% of the company's total revenue, up 42.61% year-over-year. Product and Service, Other generated $140.49M in revenue, accounting 16.53% of the company's total revenue, up 1931.71% year-over-year. Product And Service, Other Miscellaneous generated $1.29M in revenue, accounting 0.15% of the company's total revenue License and Service generated $607.53M in revenue, accounting 71.49% of the company's total revenue, up 236.21% year-over-year.

What is Duolingo’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Duolingo was License and Service. This segment made a revenue of $607.53M, representing 71.49% of the company's total revenue.