Duolingo, Inc.

Listed Company

DUOLCIK 0001562088NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.04B

Net Income

$414.06M

Total Assets

$1.99B

Equity

$1.35B

Shares Out

16.64M

Op. Cash Flow

$387.82M

DUOL$133.88−62.99% · past yearDBEQ Basic

Daily closing prices

Business

Duolingo is a technology company that develops mobile-first education platforms centered on language learning. The company offers the Duolingo App with over 250 language courses, as well as Math, Music, and Chess courses, serving more than 130 million monthly active users. Duolingo operates a freemium model where core content is free and revenue comes from paid subscriptions (Super Duolingo and Duolingo Max) and the Duolingo English Test, an online language proficiency assessment. The platform operates globally and reaches learners across all socioeconomic levels through organic word-of-mouth growth supplemented by targeted paid user acquisition.

Summary from 10-K filed 2026-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	1,038	748	531	369	251
Cost of revenues	288	204	142	99	69
Gross profit	749	544	389	270	182
Research and development	306	235	194	150	104
Sales and marketing	126	90	76	67	59
General and administrative	182	156	132	118	79
Total operating expenses	614	482	402	335	242
Income from operations	136	63	−13	−65	−60
Other income	3	1	590,000	131,000	318,000
Other expense	−2	−4	−645,000	−807,000	−288,000
Other income (expense), net	2	−3	−55,000	−676,000	30,000
Income (loss) before interest income and income taxes	137	60	−13	−66	−60
Interest income	45	43	31	7	19,000
Income before income taxes	182	102	18	−59	−60
(Benefit from) provision for income taxes	−232	14	2	938,000	177,000
Net income	414	89	16	−60	−60
Comprehensive income	414	89	16	−60	−60
Net income per share attributable to Class A and Class B common stockholders, basic (in usd per share)	9.05	2.04	0.39	−1.51	−2.57
Net income per share attributable to Class A and Class B common stockholders, diluted (in usd per share)	8.57	1.88	0.35	−1.51	−2.57

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-05-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	1,036	—	786	748	608
Short-term investments	104	—	92	0	—
Accounts receivable	163	—	129	89	47
Deferred cost of revenues	103	—	80	54	35
Income tax receivable	14	—	27,000	—	—
Prepaid expenses and other current assets	17	—	15	7	7
Total current assets	1,437	—	1,102	898	697
Operating lease right-of-use assets	80	36	47	19	23
Long-term investments	135	—	98	0	—
Intangible assets, net	28	—	20	16	8
Property and equipment, net	36	—	19	12	13
Goodwill	35	—	11	4	4
Restricted cash	3	—	3	3	0
Deferred tax assets, net	227	—	675,000	766,000	633,000
Other assets	10	—	2	2	2
Total assets	1,992	—	1,302	954	747
Deferred revenues	496	—	373	249	158
Accounts payable	8	—	6	2	1
Income tax payable	1	—	7	792,000	1
Accrued expenses and other current liabilities	46	—	36	25	22
Total current liabilities	551	—	422	277	182
Long-term obligation under operating leases	94	—	55	21	24
Deferred tax liabilities, net	249,000	—	291,000	0	—
Total liabilities	645	—	477	298	205
Commitments and contingencies (Note 11)	—	—	—	—	—
Class A common stock, $0.0001 par value; 2,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 40,368 and 38,730 issued and outstanding at December 31, 2025 and December 31, 2024, respectively Class B common stock, $0.0001 par value; 30,000 shares authorized as of December 31, 2025 and December 31, 2024; 6,260 and 6,206 issued and outstanding at December 31, 2025 and December 31, 2024, respectively	5,000	—	4,000	4,000	4,000
Additional paid-in capital	1,059	—	950	870	773
Retained earnings (Accumulated deficit)	288	—	−126	−214	−230
Total stockholders equity	1,347	—	825	656	542
Total liabilities and stockholders' equity	1,992	—	1,302	954	747

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	−225	0	0	—	—
Stock-based compensation expense	137	110	95	74	41
Depreciation and amortization	14	11	7	5	3
Accretion on marketable securities, net	−2	−551,000	0	0	—
Other	0	238,000	333,000	—	—
Deferred revenue	123	124	92	59	43
Accounts receivable	−34	−40	−42	−14	−13
Deferred cost of revenues	−23	−26	−19	−11	−11
Prepaid expenses and other current assets	−16	−8	−48,000	−1	−4
Accounts payable	2	4	1	−7	6
Accrued expenses and other current liabilities	255,000	17	3	9	4
Noncurrent assets and liabilities	−4	5	−264,000	−1	365,000
Net cash provided by operating activities	388	286	154	54	9
Purchases of investments	−163	−193	0	0	—
Maturities and paydowns of investments	116	4	0	0	—
Capitalized software expense and purchases of intangible assets	−9	−9	−10	−5	−3
Purchase of property and equipment	−18	−12	−3	−6	−4
Proceeds from sale of capitalized software	0	0	100,000	0	0
Acquisitions of companies, net of $0 and $5 cash acquired, respectively	−33	−7	0	−4	0
Net cash used for investing activities	−108	−217	−14	−14	−6
Proceeds from exercise of stock options	13	19	14	15	12
Taxes paid related to net-share settlement of share-based compensation awards	−42	−49	−11	0	0
Payment of earn-out related to a previous acquisition	−500,000	0	0	—	—
Net cash used for financing activities	−30	−30	2	15	430
Net increase in cash, cash equivalents and restricted cash	251	38	142	54	433
Cash paid for income taxes	14	8	2	—	—
Property and equipment included in Current liabilities	4	0	165,000	166,000	230,000
Landlord incentive included in Other assets	7	0	0	2	0
Right of use assets obtained in exchange for new operating lease liabilities	39	33	0	909,000	—
Right of use assets disposed of or adjusted for modifying operating leases liabilities	0	1	2	0	—

Filings

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Frequently asked questions

What is Duolingo, Inc.'s CIK number?

Duolingo, Inc.'s SEC CIK number is 0001562088 (1562088). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Duolingo, Inc.'s SEC filings?

All of Duolingo, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Duolingo, Inc. last report earnings?

Duolingo, Inc. (DUOL) most recently filed an earnings 8-K with the SEC on May 4, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-029790). This is Duolingo, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Duolingo, Inc.'s most recent earnings 8-K?

Duolingo, Inc.'s latest earnings 8-K (Item 2.02) was filed May 4, 2026 under accession 0001628280-26-029790. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Duolingo, Inc.'s latest earnings 8-K →
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