Duo Security LLC Due Diligence

Run due diligence on Duo Security LLC: check compliance and get alerts when suppliers change.

United States · duo.com · 16 vendors

Duo Security provides cloud-based multi-factor authentication (MFA) and comprehensive identity and access management (IAM) security solutions. It helps organizations verify user identities and device health before granting access to applications, data, and networks, aligning with Zero Trust security principles.

Resilience scores

Technology vendors

Services catalogue

7 services in catalogue across 3 categories; runs on 16 sub-vendors.

Insights

Last updated 2026-07-28 · revision 2

16 direct vendors, 193 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

12 in-scope frameworks identified; showing 3.

SOC 2 (source) — Evidence found

Evidence: https://duo.com/solutions/compliance, https://trustportal.cisco.com/c/r/ctp/trust-portal.html?search_keyword=duo

ISAE 3000 (source) — No public evidence

Evidence: https://duo.com/solutions/compliance, https://trustportal.cisco.com/c/r/ctp/trust-portal.html?search_keyword=duo

CPRA — Evidence found

Evidence: https://duo.com/legal/cisco-online-privacy-statement, https://duo.com/solutions/compliance

Financials

Three-year financials

Financial Resilience Score: 9/10

Duo Security's financial resilience is effectively tied to its parent company, Cisco Systems, Inc., which acquired Duo in October 2018 for approximately US$2.35 billion in cash. As a wholly-owned subsidiary and product line within Cisco's Security business unit, Duo no longer files standalone financial statements, and its results are consolidated into Cisco's SEC filings without a separate Duo-only line item. This means external stakeholders cannot independently assess Duo's unit-level profitability, growth, or capital position. However, the resilience of the parent is exceptionally strong. Cisco reported FY2024 revenue of approximately US$53.8B, net income of ~US$10.3B, and stockholders' equity of ~US$44.6B, with an investment-grade credit rating (A+/AA-). Duo operates within Cisco's Security segment, which grew to ~US$5.7B in FY2024 (boosted by the Splunk acquisition), from ~US$4.0B in FY2023 and ~US$3.6B in FY2022. Duo's subscription-based SaaS model provides predictable, recurring revenue with strong retention and >1.3 billion monthly authentications. Risks include competitive pressure from Okta, Microsoft Entra ID, Ping Identity, and others; Microsoft's bundling of MFA/SSO into E3/E5 licenses that may compress Duo's addressable market; and integration/positioning risk within Cisco's broader security portfolio, particularly post-Splunk rationalization.

Key strengths: Wholly-owned by Cisco Systems (NASDAQ: CSCO) with investment-grade credit rating (A+/AA-), Cisco FY2024 revenue ~US$53.8B, net income ~US$10.3B, stockholders' equity ~US$44.6B, Recurring SaaS subscription revenue model with strong retention, Leadership position in identity/MFA with >1.3 billion monthly authentications, Cross-sell opportunity into Cisco's massive enterprise customer base, Strong end-market tailwinds in zero-trust, phishing-resistant MFA, and ITDR

Risk factors: No standalone financial transparency post-acquisition, Competitive pressure from Okta, Microsoft Entra ID, Ping Identity, CyberArk, JumpCloud, and Google, Microsoft bundling MFA/SSO into E3/E5 licenses compresses addressable market, Integration and positioning risk within Cisco, particularly post-Splunk portfolio rationalization, Product overlap with other Cisco security offerings (e.g., Identity Services Engine)

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