Duolingo, Inc.
DUOLQ3 2024(DUOL Q2 FY2024)Estimated30% AI
AI Revenue %
30%
AI Fair Value
$740.4M
AI Revenue (Q)
$53.5M
Total Revenue (Q)
$178.3M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 2024 total revenue was $178,327K. Subscription revenue was $143,909K (80.7% of total). H1 2024 total was $345,880K. Duolingo continued deepening AI integration. The company capitalized $6,700K in software development costs in H1 2024 (vs $3,176K in H1 2023), reflecting increased investment in AI-powered features. Duolingo Max with GPT-4 features continued expanding. The company also made two acquisitions in July 2024 bringing design, animation, and engineering talent. Estimate of 30% reflects increasing AI contribution through Duolingo Max premium tier, AI content generation replacing human translators, and Birdbrain engine powering all personalization. Math: 30% x $178,327K = ~$53,498K attributed to AI.
Analyzed by claude-opus-4-6
Quoted Figures
Revenues: Subscription $143,909, Other $34,418 (Advertising $13,258, Duolingo English Test $10,698, In-App Purchases $10,176, Other $286). Total revenues $178,327
10-Q filed for period ending June 30, 2024, Revenue Disaggregation
The Company capitalized $6,700 and $3,176 of software development costs, with the majority of the costs being employee wages, during the six months ended June 30, 2024 and 2023, respectively.
10-Q filed for period ending June 30, 2024, Note 5 Intangible Assets
AI Products Identified (Ring 1)
Birdbrain adaptive learning engineDuolingo Max (GPT-4 Roleplay, Explain My Answer)AI-generated contentAI-powered personalization
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Subscription revenue ($143,909K)Duolingo English Test ($10,698K)In-App Purchases ($10,176K)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix