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Operating Expense Breakdown
Details spending on R&D, marketing, product, and administration to show where Duolingo invests to grow and improve margins. Helps investors judge whether the company is balancing growth and profitability and where cost cuts or reinvestment could affect future momentum.Duolingo has clearly re‑allocated spend toward product and growth: R&D has been ramped aggressively to scale AI-driven content while Sales & Marketing is rising to commercialize new features and experiments, with G&A growing more modestly. Management calls 2026 a deliberate investment year, so expect near‑term margin pressure from AI costs and immature performance marketing but upside to DAU retention and monetization if conversion and marketing ROI improve; cash/buyback capacity cushions the strategy, while quality control and Q2 bookings cadence are key risks to watch.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $40.01M | $92.19M | $50.59M |
Mar 31, 2026 | $39.25M | $82.97M | $46.35M |
Dec 31, 2025 | $34.37M | $79.56M | $48.49M |
Sep 30, 2025 | $35.08M | $82.71M | $43.96M |
Jun 30, 2025 | $29.56M | $73.67M | $45.98M |
Mar 31, 2025 | $26.66M | $70.39M | $43.45M |
Dec 31, 2024 | $24.82M | $66.39M | $45.53M |
Sep 30, 2024 | $25.57M | $62.88M | $38.39M |
Jun 30, 2024 | $20.17M | $55.15M | $36.96M |
Mar 31, 2024 | $19.93M | $50.88M | $35.11M |