Duolingo, Inc.
DUOLQ1 2024(DUOL Q4 FY2023)Estimated25% AI
AI Revenue %
25%
AI Fair Value
$516.1M
AI Revenue (Q)
$34.4M
Total Revenue (Q)
$137.6M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
10-K filing was truncated — contains revenue recognition policy and accounting notes but not the income statement or revenue disaggregation with dollar amounts. By Q4 2023, Duolingo had expanded Duolingo Max globally and was using AI extensively: GPT-4 for Roleplay and Explain My Answer features, Birdbrain for adaptive learning, and AI for content generation (reducing reliance on human contractors). The company described itself as 'AI-first' in public communications. Estimate of 25% reflects Duolingo Max's growing subscriber base at premium pricing plus Birdbrain AI contribution. The company still does not break out AI-specific revenue.
Analyzed by claude-opus-4-6
Quoted Figures
The Company has four predominant sources of revenues; time-based subscriptions, in-app advertising placement by third parties, the Duolingo English Test, and In-App Purchases.
10-K filed for period ending December 31, 2023, Note 4 Revenue
AI Products Identified (Ring 1)
Birdbrain adaptive learning engineDuolingo Max (GPT-4 Roleplay, Explain My Answer)AI-generated contentSpaced repetition algorithms
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 revenueDuolingo English TestIn-App Purchases
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix