Duolingo (DUOL) revenue breakdown
By product, Subscription is the largest at 84% of fiscal 2025 revenue, growing 49% a year over 5 years.
By region, Rest of World is the largest at 62% of fiscal 2025 revenue, growing 54% a year over 5 years.
Revenue by product
Fiscal years, as Duolingo reports them in its 10-K filings; fiscal 2025 total $1.0B.
| Products | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|
| Subscription | $118M | $181M | $274M | $405M | $608M | $873M | 84% |
| Advertising | $27M | $39M | $45M | $50M | $55M | $80M | 8% |
| Duolingo English Test | $15M | $25M | $33M | $41M | $46M | $42M | 4% |
| IAPs | — | — | $18M | $35M | $39M | $40M | 4% |
| Other | $2M | $7M | $625,000 | $682,000 | $1M | $2M | 0% |
Revenue by region
Fiscal years, as Duolingo reports them in its 10-K filings; fiscal 2025 total $1.0B.
| Regions | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|
| Rest of World | $75M | $116M | $201M | $292M | $436M | $645M | 62% |
| United States | $71M | $109M | $168M | $239M | $312M | $392M | 38% |
| United Kingdom | $15M | $25M | — | — | — | — | — |
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Where does Duolingo make its money?
In fiscal 2025, by product: Subscription $873M, Advertising $80M, Duolingo English Test $42M, IAPs $40M, Other $2M.
From Duolingo's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.