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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Duolingo, Inc. (DUOL) is 9/10, unchanged from the prior quarter.
Duolingo delivered a strong first quarter of 2026, with GAAP revenue up 26.5% year-over-year and operating income up roughly 89% as gross margin expanded and operating leverage kicked in; adjusted EBITDA reached $83 million, about 29% of revenue. Daily active users grew 21% year-over-year, and the company published 20.5 thousand course units in the quarter, more than ten times its pace of two years ago, reaching B2 professional proficiency across its nine most learned languages as AI accelerated content generation. GAAP diluted EPS rose 23.6%, trailing operating-income growth because the prior-year quarter carried outsized below-the-line income, but the operating line confirms the genuine margin expansion. Management reiterated its full-year 2026 framework of 15% to 18% revenue growth, 10% to 12% bookings growth, and a roughly 25% adjusted EBITDA margin, framing 2026 as a deliberate investment year that trades some near-term monetization and gross margin, guided toward 69% by year-end, for durable long-term growth. The soft spots, a flat top of funnel, decelerating MAU, and a tough Q2 bookings comp of about 6% growth, are largely deliberate consequences of the DAU-first monetization reset rather than signs of deterioration.
Scored from Duolingo, Inc.’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $210M | +38.8% | $0.28 | +12.0% | 6.7% | 6.6% | $81M |
| FY2025 Q1 | $231M | +37.7% | $0.72 | +26.3% | 10.3% | 15.2% | $104M |
| FY2025 Q2 | $252M | +41.5% | $0.91 | +78.4% | 13.5% | 17.8% | $89M |
| FY2025 Q3 | $272M | +41.1% | $5.95 | +1114.3% | 14.6% | 107.5% | $79M |
| FY2025 Q4 | $283M | +35.0% | $0.84 | +200.0% | 15.5% | 14.8% | $97M |
| FY2026 Q1 | $292M | +26.5% | $0.89 | +23.6% | 15.4% | 14.9% | $151M |
| FY2026 Q2 | $298M | +18.3% | $0.66 | -27.5% | 11.4% | 11.1% | $79M |