Duolingo, Inc. Class A (DUOL)

Duolingo's stock price has declined significantly, dropping over 70% between April 2025 and April 2026. In Q3 2025, despite beating expectations, the stock dropped due to cautious Q4 guidance and a strategic shift towards user growth. In Q4 2025, the stock fell again despite surpassing expectations, attributed to lower-than-expected revenue and EBITDA guidance for 2026 and concerns about slowing DAU growth. The company's pivot to prioritize user growth and AI integration has impacted investor sentiment, along with broader market concerns about AI disruption. In Q4 2025, Duolingo's Board authorized a $400 million share repurchase program.

Duolingo experiences some demand seasonality, with an anticipated seasonal uptick in subscriber growth. The company has historically conducted "Year-in-Review" campaigns, suggesting increased user engagement around the year-end period.

Duolingo, Inc. is an American educational technology company operating a mobile learning platform with a focus on free, fun, and accessible education. It operates in the Technology sector, specifically within the Software - Application industry, also categorized as Online Education, Technology Services, or Computer Software. Its major products include the Duolingo Language Learning App, Duolingo English Test (DET), Duolingo ABC, Duolingo Music and Duolingo Math, and subscription tiers like Super Duolingo and Duolingo Max.

Duolingo, Inc. is headquartered in Pittsburgh, Pennsylvania, with additional offices in New York, Seattle, Berlin, and Beijing. It serves a global audience with millions of monthly active users across the Americas, Europe, Asia, and Africa.

Duolingo's brand reputation has seen both success and backlash. The "Duo Death" campaign was a viral marketing success, generating significant engagement. However, the "AI-first Backlash" led to negative sentiment and a loss of social media followers due to concerns about AI replacing human staff.

Duolingo's ownership is characterized by a significant presence of institutional investors, who collectively hold a substantial majority of the company's shares. Major institutional owners include BlackRock, Inc., Fmr Llc, Vanguard Group Inc., and Baillie Gifford & Co. Co-founders Luis von Ahn and Severin Hacker remain significant individual shareholders with substantial influence through a dual-class stock structure.