analyticsVertical SaaS
Data as of Q4 2025
Summary Verdict
DUOL: 5—INST: 0wins
Rule of 40
74.3DUOL
41.4INST
check_circleDUOL leads
Revenue Growth
38.7%DUOL
11.6%INST
check_circleDUOL leads
Gross Margin
72%DUOL
65%INST
check_circleDUOL leads
FCF Margin
35.6%DUOL
29.8%INST
check_circleDUOL leads
Operating Margin
13.1%DUOL
-0.6%INST
check_circleDUOL leads
NRR
—DUOL
—INST
Metric
Rule of 40Efficiency score
DUOL
74.3check_circle
INST
41.4
Revenue GrowthYoY
DUOL
38.7%check_circle
INST
11.6%
Gross Margin% of revenue
DUOL
72%check_circle
INST
65%
FCF MarginFree cash flow
DUOL
35.6%check_circle
INST
29.8%
Operating MarginGAAP
DUOL
13.1%check_circle
INST
-0.6%
NRRNet retention
DUOL
N/A
INST
N/A
EV / RevenueValuation multiple
DUOL
3.8xcheck_circle
INST
7.1x
Market CapUSD
DUOL
$4.9Bcheck_circle
INST
$3.5B
ARR GrowthYoY
DUOL
N/A
INST
N/A
CAC PaybackMonths to recover
DUOL
N/A
INST
N/A
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insights
Analysis
As of Q4 2025, Duolingo, Inc. trades at 3.8x EV/Revenue versus Instructure Holdings, Inc. at 7.1x. On the Rule of 40, Duolingo, Inc. scores 74.3 compared to Instructure Holdings, Inc.'s 41.4, placing Duolingo, Inc. ahead in operating efficiency. Gross margins stand at Duolingo, Inc. 72% 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.