Duolingo, Inc. (DUOL) Financial Statements (2026 and earlier)
Company Profile
| Business Address |
5900 PENN AVE, SECOND FLOOR PITTSBURGH, PA 15206 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7372 - Prepackaged Software (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 6/30/2025 Q2 | 3/31/2025 Q1 | 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 999,280 | 877,645 | 880,763 | 888,240 | 829,713 | 747,610 | |||
| Cash and cash equivalent | 883,996 | 785,791 | 854,409 | 888,240 | 829,713 | 747,610 | |||
| Short-term investments | 115,284 | 91,854 | 26,354 | ||||||
| Receivables | 114,183 | 128,923 | 94,215 | 77,722 | 76,421 | 88,975 | |||
| Capitalized contract cost | 89,564 | 80,162 | 67,329 | 63,285 | 60,397 | 53,931 | |||
| Other undisclosed current assets | 16,630 | 14,858 | 16,130 | 12,317 | 10,747 | 7,282 | |||
| Total current assets: | 1,219,657 | 1,101,588 | 1,058,437 | 1,041,564 | 977,278 | 897,798 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 46,369 | 47,495 | 48,624 | 49,760 | 49,785 | 19,103 | |||
| Property, plant and equipment | 19,161 | 18,943 | 19,495 | 18,343 | 13,209 | 11,792 | |||
| Long-term investments and receivables | 83,342 | 98,292 | 55,328 | ||||||
| Long-term investments | 83,342 | 98,292 | 55,328 | ||||||
| Intangible assets, net (including goodwill) | 29,410 | 30,437 | 32,438 | 24,636 | 22,645 | 20,045 | |||
| Goodwill | 10,538 | 10,538 | 10,538 | 4,050 | 4,050 | 4,050 | |||
| Intangible assets, net (excluding goodwill) | 18,872 | 19,899 | 21,900 | 20,586 | 18,595 | 15,995 | |||
| Restricted cash and investments | 2,735 | 2,735 | 2,735 | 2,735 | 2,735 | 2,735 | |||
| Deferred income tax assets | 675 | 675 | 835 | 835 | 766 | 766 | |||
| Other noncurrent assets | 1,797 | 1,563 | 1,657 | 1,570 | 2,249 | 1,718 | |||
| Total noncurrent assets: | 183,489 | 200,140 | 161,112 | 97,879 | 91,389 | 56,159 | |||
| TOTAL ASSETS: | 1,403,146 | 1,301,728 | 1,219,549 | 1,139,443 | 1,068,667 | 953,957 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 33,081 | 42,756 | 31,494 | 26,209 | 24,047 | 27,378 | |||
| Accounts payable | 2,546 | 6,381 | 3,649 | 3,405 | 2,625 | 2,447 | |||
| Accrued liabilities | 30,535 | 36,375 | 27,845 | 22,804 | 21,422 | 24,931 | |||
| Deferred revenue | 415,023 | 372,884 | 310,603 | 291,477 | 279,313 | 249,192 | |||
| Other undisclosed current liabilities | 6,381 | 6,591 | 36 | 38 | 362 | 792 | |||
| Total current liabilities: | 454,485 | 422,231 | 342,133 | 317,724 | 303,722 | 277,362 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 54,835 | 54,947 | 54,963 | 54,775 | 53,893 | 21,094 | |||
| Deferred income tax liabilities | 302 | 291 | 312 | ||||||
| Operating lease, liability | 54,533 | 54,656 | 54,651 | 54,775 | 53,893 | 21,094 | |||
| Total noncurrent liabilities: | 54,835 | 54,947 | 54,963 | 54,775 | 53,893 | 21,094 | |||
| Total liabilities: | 509,320 | 477,178 | 397,096 | 372,499 | 357,615 | 298,456 | |||
| Equity | |||||||||
| Equity, attributable to parent | 893,826 | 824,550 | 822,453 | 766,944 | 711,052 | 655,501 | |||
| Common stock | 4 | 4 | 4 | 4 | 4 | 4 | |||
| Additional paid in capital | 984,534 | 950,393 | 962,203 | 930,054 | 898,513 | 869,918 | |||
| Accumulated deficit | (90,712) | (125,847) | (139,754) | (163,114) | (187,465) | (214,421) | |||
| Total equity: | 893,826 | 824,550 | 822,453 | 766,944 | 711,052 | 655,501 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,403,146 | 1,301,728 | 1,219,549 | 1,139,443 | 1,068,667 | 953,957 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 6/30/2025 Q2 | 3/31/2025 Q1 | 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 230,743 | 209,550 | 192,594 | 178,327 | 167,553 | 150,985 | ||
| Cost of revenue | (66,647) | (58,925) | (52,180) | (47,349) | (45,191) | (40,571) | ||
| Gross profit: | 164,096 | 150,625 | 140,414 | 130,978 | 122,362 | 110,414 | ||
| Operating expenses | (140,502) | (136,743) | (126,840) | (112,278) | (105,923) | (105,619) | ||
| Operating income: | 23,594 | 13,882 | 13,574 | 18,700 | 16,439 | 4,795 | ||
| Nonoperating income (expense) | 1,001 | (2,227) | 569 | (707) | (621) | 1,054 | ||
| Income from continuing operations before equity method investments, income taxes: | 24,595 | 11,655 | 14,143 | 17,993 | 15,818 | 5,849 | ||
| Other undisclosed income from continuing operations before income taxes | 10,415 | 10,697 | 11,246 | 10,721 | 10,033 | 9,284 | ||
| Income from continuing operations before income taxes: | 35,010 | 22,352 | 25,389 | 28,714 | 25,851 | 15,133 | ||
| Income tax expense (benefit) | 125 | (8,445) | (2,029) | (4,363) | 1,105 | (3,016) | ||
| Net income available to common stockholders, diluted: | 35,135 | 13,907 | 23,360 | 24,351 | 26,956 | 12,117 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 6/30/2025 Q2 | 3/31/2025 Q1 | 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 35,135 | 13,907 | 23,360 | 24,351 | 26,956 | 12,117 | ||
| Comprehensive income, net of tax, attributable to parent: | 35,135 | 13,907 | 23,360 | 24,351 | 26,956 | 12,117 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.