Duolingo, Inc. Class A (DUOL)

Duolingo's stock experienced several events in the past six months. The acquisition of the NextBeat team in August 2025 led to a 13.8% stock gain. September 2025 saw a modest -1.53% stock movement after product updates at Duocon 2025. In November 2025, despite strong Q3 results, the stock saw a modest -0.77% move, with concerns arising from a strategic shift towards user growth. December 2025 brought a significant stock drop due to sentiment/valuation concerns. January 2026 saw a 23.6% plunge due to concerns over slower user growth and the CFO's departure, resulting in an 8.45% fall in the stock. February 2026 saw a surge in shares as investors positioned themselves ahead of the earnings release.

While specific details on user demand seasonality are not explicitly stated, implied volatility for DUOL tends to rise most significantly in April and decline to its lowest levels in June. The IV level in February following January has also tended to be higher. Demand for learning products can see upticks at the beginning of the year and during academic breaks. User growth data suggests a generally growing demand rather than pronounced seasonal dips.

Duolingo, Inc. is an education technology company focused on making language learning accessible and engaging globally. It operates in the EdTech sector, providing free language courses with paid subscription options. The company's mobile application uses gamification to encourage user engagement, supporting over 40 languages for a global user base exceeding 600 million learners. Duolingo also offers 'Duolingo for Schools' and the 'Duolingo English Test'.

Duolingo operates as a mobile learning platform across the United States, the United Kingdom, and internationally. The company has demonstrated strong growth in various international markets, with broad-based daily active user (DAU) growth in almost every country. Duolingo's strategy includes hiring country marketing managers to localize humor and social media content, which has shown positive results in countries such as Korea, Japan, China, and Brazil. The company is also considering adding new marketing managers in Italy and Turkey.

Duolingo maintains a strong brand reputation through a differentiated product and effective user engagement. The company emphasizes brand recognition and utilizes creative marketing to cultivate a strong community and brand identity. Its mission-driven culture fosters innovation. Concerns around slower user growth and stock price decline could indirectly influence public perception.

Duolingo, Inc. has a diverse ownership structure. Institutional investors hold a significant portion, with 924 institutional owners and shareholders holding a total of 47,400,917 shares. Major institutional owners include Baillie Gifford & Co, BlackRock, Inc., Vanguard Group Inc, Fmr Llc, Capital World Investors, Dragoneer Investment Group, LLC, T. Rowe Price Investment Management, Inc., and State Street Corp. Vanguard is noted as owning the most shares of Duolingo, Inc. Class A. Insiders own 14.25% of the company, while institutions collectively hold 91.77%. Retail investors hold approximately 47.05% of Duolingo, Inc. Class A stock.