Duolingo, Inc. vs Instructure Holdings, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
DUOL: 5—INST: 0wins
Rule of 40
81.8DUOL
-14.4INST
check_circleDUOL leads
Revenue Growth
49.0%DUOL
33.4%INST
check_circleDUOL leads
Gross Margin
73%DUOL
65%INST
check_circleDUOL leads
FCF Margin
32.8%DUOL
-47.8%INST
check_circleDUOL leads
Operating Margin
13.2%DUOL
-2.3%INST
check_circleDUOL leads
NRR
—DUOL
—INST
Metric
Rule of 40Efficiency score
DUOL
81.8check_circle
INST
-14.4
Revenue GrowthYoY
DUOL
49.0%check_circle
INST
33.4%
Gross Margin% of revenue
DUOL
73%check_circle
INST
65%
FCF MarginFree cash flow
DUOL
32.8%check_circle
INST
-47.8%
Operating MarginGAAP
DUOL
13.2%check_circle
INST
-2.3%
NRRNet retention
DUOL
N/A
INST
N/A
EV / RevenueValuation multiple
DUOL
5.8xcheck_circle
INST
5.9x
Market CapUSD
DUOL
$7.2Bcheck_circle
INST
$3.5B
ARR GrowthYoY
DUOL
N/A
INST
N/A
CAC PaybackMonths to recover
DUOL
N/A
INST
N/A
insights
Analysis
As of Q2 2026, Duolingo, Inc. trades at 5.8x EV/Revenue versus Instructure Holdings, Inc. at 5.9x. On the Rule of 40, Duolingo, Inc. scores 81.8 compared to Instructure Holdings, Inc.'s -14.4, placing Duolingo, Inc. ahead in operating efficiency. Gross margins stand at Duolingo, Inc. 73% vs Instructure Holdings, Inc. 65%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.