EarningsQ2 2026 Earnings Report
MX:DUOL Q2 2026 EPS Results
Actual EPS$12.07
Consensus EPS$11.05
Beat/MissBeat by +$1.02
One Year Ago EPS$16.65
MX:DUOL Q2 2026 Revenue Results
Actual Revenue$5.46B
Expected Revenue$5.41B
Beat/MissBeat by +$52.52M
YoY Revenue Growth+18.31%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:DUOL Upcoming Earnings
Duolingo's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:DUOL Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operating momentum — notably 23% DAU growth, all-time high retention, successful reengagement campaigns, improving margins and significant cash generation — while also acknowledging near-term monetization lags, ongoing experiments on pricing/tiers, and material AI/hosting and regulatory considerations. Management reiterated deliberate investment in user growth and teaching quality, alongside measured steps to expand monetization with an improving cost structure driven by open-source AI.Company Guidance
Daily Active Users Growth
DAUs grew 23% year-over-year in Q2, accelerating from Q1 and slightly ahead of expectations; management is encouraged by early Q3 trends and targeting 100M DAUs by 2028.
Retention (CURR) at All-Time High
Current user retention rate (CURR) reached an all-time high and has improved by roughly ~1 percentage point year-over-year, contributing to compounding DAU growth over time.
Successful Reengagement Campaign — Streak Revival
A one-time June campaign (Streak Revival) led to more than 15 million learners reviving streaks; these reengaged users are showing better retention than a typical reengaged cohort.
Maintained and Refined Financial Guidance
Full-year guidance: bookings growth target 10–12% (management expects ~11%), revenue growth target 15–18% (management expects ~16%); Q3 guidance: bookings ≈ $307M (growth 9%), revenue ≈ $302M (growth 11%).
Improved Profitability and Margin Outlook
Company increased target adjusted EBITDA outlook to 26.5% from 25% at the start of the year; management expects adjusted EBITDA of approximately $320M (roughly mid-20% margin) and raised gross margin expectation to ~70% (from 69%).
Strong Cash Generation and Balance Sheet
Ended the quarter with $1.3B in cash and investments, generated $79M in free cash flow in the quarter, and expects >$375M free cash flow for the full year; repurchased $44M of stock in the quarter (cumulative $72M, ~700k shares).
AI Cost Reductions Enabling Product Expansion
Cost per video call dropped materially (from ~$0.30 to under $0.01) by shifting to open-source models, enabling offering video call to most new Super subscribers and expanding AI-driven features with improving unit economics.
Marketing and Top-of-Funnel Momentum
Top-of-funnel improved across nearly every region; strong influencer and social media presence (over 1B impressions per quarter on owned social channels; ~2/3 of total social impressions come from creators in some countries), and improved performance marketing sophistication.
MX:DUOL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed