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How Duolingo, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$1.0B · 100%Cost of revenue$288M · 28%Gross profit$749M · 72%Operating income$136M · 13%Income before tax$182M · 18%Income tax−$232M · −22%Net income$414M · 40%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$1.0B100%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
Cost of revenue$288M28%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
$749M72%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
$136M13%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
Income before tax$182M18%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
Income tax−$232M−22%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
$414M40%
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-012494 · filed Feb 27, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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