Fangdd Network Group Ltd. (DUO) Revenue History
Annual and quarterly revenue from 2016 to present
DUO Revenue Over Time (2016–2024)
DUO Revenue Growth History
5 of 8 years with positive growth- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +21.9%
- FY2018 revenue growth
- +26.9%
- FY2019 revenue growth
- +57.7%
- FY2020 revenue growth
- -31.9%
- FY2021 revenue growth
- -61.6%
- FY2022 revenue growth
- -73.9%
- FY2023 revenue growth
- +15.9%
- FY2024 revenue growth
- +19.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $101.7M | +45.3% |
| Q1 2025 | $101.7M | +45.3% |
| Q4 2024 | $99.6M | +51.5% |
| Q3 2024 | $99.6M | — |
| Q2 2024 | $70.0M | — |
| Q1 2024 | $70.0M | — |
| Q4 2023 | $65.7M | +9.7% |
| Q4 2022 | $59.9M | -25.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2022)
DUO's revenue distribution by segment and geography for fiscal year 2022
By Product/Segment
DUO Revenue Analysis (2016–2024)
Current Revenue & Growth
As of June 21, 2026, Fangdd Network Group Ltd. (DUO) generated trailing twelve-month (TTM) revenue of $402.5 million, reflecting explosive growth of +45.3% year-over-year. The most recent quarter (Q2 2025) recorded $101.7 million in revenue, up 0.0% sequentially.
Historical Growth Trajectory
DUO's 5-year compound annual growth rate (CAGR) stands at -37.7%, indicating revenue contraction over this period. The 3-year CAGR of -28.9% exceeds the 5-year average, indicating an acceleration in the most recent period. Fangdd Network Group Ltd.'s highest annual revenue of $3.60 billion was recorded in 2019.
Revenue by Segment
DUO's revenue is primarily driven by Base Commission From Transactions (82%), and Innovation initiatives and other value-added services (18%). With over half of revenue concentrated in Base Commission From Transactions, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Real Estate sector peers — including KE (-6.3% YoY), COMP (+40.1% YoY), and OPEN (-23.2% YoY) — DUO has outperformed the peer group in revenue growth. Compare DUO vs KE →
DUO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| DUOCurrent | $403M | +45.3% | -37.7% | -37.1% | |
 KE | $1.5B | -6.3% | +4.4% | 3.1% | |
 COMP | $7.0B | +40.1% | +13.3% | -0.4% | |
 OPEN | $4.4B | -23.2% | +11.1% | -6.2% | |
 HOUS | $5.7B | +5.3% | -0.6% | 1.1% | |
 Z | $2.6B | +16.8% | +9.7% | -1.2% |
DUO Historical Revenue Data (2016–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $339.1M | +19.0% | $61.7M | 18.2% | $-125,662,000 | -37.1% |
| 2023 | $285.0M | +15.9% | $41.2M | 14.5% | $-265,170,000 | -93.1% |
| 2022 | $245.9M | -73.9% | $24.7M | 10.1% | $-249,393,000 | -101.4% |
| 2021 | $942.4M | -61.6% | $106.5M | 11.3% | $-957,295,000 | -101.6% |
| 2020 | $2.45B | -31.9% | $414.5M | 16.9% | $-226,020,000 | -9.2% |
| 2019 | $3.60B | +57.7% | $757.0M | 21.0% | $-536,757,000 | -14.9% |
| 2018 | $2.28B | +26.9% | $476.6M | 20.9% | $69.4M | 3.0% |
| 2017 | $1.80B | +21.9% | $381.6M | 21.2% | $-4,864,000 | -0.3% |
| 2016 | $1.48B | - | $228.4M | 15.5% | $-363,853,000 | -24.7% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
10+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
DUO — Frequently Asked Questions
Quick answers to the most common questions about buying DUO stock.
Is DUO's revenue growth accelerating or slowing?
DUO revenue growth is accelerating. TTM revenue reached $403M, up +45.3% year-over-year — ahead of the 5-year CAGR of -37.7%. This indicates the business is expanding faster than its historical baseline.
What is DUO's revenue history from 2016 to 2026?
Fangdd Network Group Ltd. (DUO) revenue history spans 2016 to 2026. TTM revenue as of 2026 is $403M, growing at +45.3% YoY. The 5-year CAGR is -37.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is DUO's long-term revenue growth rate (CAGR)?
Fangdd Network Group Ltd.'s 5-year revenue CAGR of -37.7% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +45.3% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for DUO.
Why does DUO's quarterly revenue fluctuate?
DUO quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Fangdd Network Group Ltd.'s revenue data from 2016 to 2026 shows full historical quarterly detail on this page.
How is DUO's revenue distributed by segment?
DUO reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does DUO's revenue compare to industry peers?
Fangdd Network Group Ltd. (DUO) with TTM revenue of $403M and +45.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.