Duolingo, Inc. Class A (DUOL)

Duolingo's stock price declined significantly between October 2025 and March 2026, closing at $95.35 on March 27, 2026, a drop from its all-time high of $544.93 on May 14, 2025. The 52-week low was $91.61 on March 27, 2026. A Q3 2025 earnings call led to a 30% stock price decline due to the company's focus on teaching quality over short-term subscriptions. Despite surpassing $1 billion in bookings in Q4 2025, Duolingo prioritized user growth and teaching quality in 2026, even if it moderates near-term financial growth. The board authorized a share repurchase program of up to $400 million.

While specific details on demand seasonality are limited, Monthly Active User (MAU) metrics help assess user retention and track seasonal trends. Historically, implied volatility for DUOL stock has tended to rise the most in April and decline to its lowest levels in June. The company's strategic focus on user growth and improving the free learner experience in 2026 suggests an ongoing effort to manage and expand its user base throughout the year.

Duolingo, Inc. is an American educational technology company operating a mobile learning platform and providing language certification. Its mission is to make education free, fun, and accessible. The company's offerings include the Duolingo App for language learning, Super Duolingo and Duolingo Max premium subscriptions, the Duolingo English Test (DET) for proficiency assessment, Duolingo for Schools, Duolingo ABC for children's literacy, and new subject offerings like music, math, and chess.

Duolingo operates globally, reaching users in over 194 countries. While the United States is a significant market, international users contribute a larger share of revenue. Key markets include the United States, Brazil, and Mexico. The Asia-Pacific region, particularly India and Japan, is a fast-growing area. Duolingo supports 28 user interface languages and plans further expansion in key languages.

Duolingo's brand reputation experienced both viral success and backlash in the past year. The "Duo Death" marketing campaign in February 2025 generated over a billion organic views, with mentions spiking and celebrity engagement. However, by May 2025, the brand faced backlash on TikTok, losing over 400,000 followers due to user concerns about AI-related job displacement, perceived quality issues, and a feeling of betrayal regarding the brand's "human connection" values.

Duolingo, Inc. has a significant institutional ownership base, with 507 institutional owners and shareholders. Major institutional holders of Class A shares include Baillie Gifford & Co, BlackRock, Inc., Vanguard Group Inc, Fmr Llc, Capital World Investors, Dragoneer Investment Group, LLC, State Street Corp, Susquehanna International Group, Llp, Whale Rock Capital Management LLC, Geode Capital Management, Llc, and T. Rowe Price Investment Management, Inc. Founders Luis von Ahn and Severin Hacker retain control through super-voting Class B shares.