Duolingo financials
$142.62+6.20%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 |
|---|---|---|---|---|---|
| Revenue | $1.04B | $748.0M | $531.1M | $369.5M | $250.8M |
| Gross profit | $749.5M | $544.4M | $389.0M | $270.1M | $181.6M |
| Gross margin | 72.2% | 72.8% | 73.2% | 73.1% | 72.4% |
| Operating income | $135.6M | $62.6M | -$13.3M | -$66.0M | -$60.0M |
| Net income | $414.1M | $88.6M | $16.1M | -$59.6M | -$60.1M |
| Net margin | 39.9% | 11.8% | 3.0% | −16.1% | −24.0% |
| Diluted EPS | $8.57 | $1.88 | $0.35 | $-1.51 | $-2.57 |
| EBITDA | $150.0M | $73.4M | -$6.2M | -$61.1M | -$57.3M |
| Operating cash flow | $387.8M | $285.5M | $153.6M | $53.7M | $9.2M |
| Free cash flow | $369.7M | $273.4M | $150.4M | $48.1M | $5.6M |
| Diluted shares | 48.3M | 47.1M | 46.5M | 39.5M | 23.4M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.04B | $785.8M | $747.6M | $608.2M | $553.9M |
| Short-term investments | $104.1M | $91.9M | $0.00 | $0.00 | — |
| Total debt | $0.00 | $0.00 | $0.00 | $0.00 | $29.1M |
| Total assets | $1.99B | $1.30B | $954.0M | $747.3M | $661.3M |
| Total liabilities | $645.2M | $477.2M | $298.5M | $205.3M | $148.3M |
| Shareholders' equity | $1.35B | $824.5M | $655.5M | $542.1M | $513.1M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology