Duolingo, Inc.

Name: Duolingo, Inc. standardized financial statements, quarterly
Creator: Listed

DUOLNasdaqCIK 1562088TechnologyFiscal year ends Dec 31

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Standardized line items from XBRL company facts, the last twelve quarters. Negative values are in parentheses. A figure marked d is derived from year-to-date figures.

Income statement

Revenue$298.5m, Q2 FY2026

Operating income$33.9m, Q2 FY2026

Net income$33.2m, Q2 FY2026

Duolingo, Inc., income statement, quarterly
Line item	Unit	Q3 FY20232023-09-30	Q4 FY20232023-12-31	Q1 FY20242024-03-31	Q2 FY20242024-06-30	Q3 FY20242024-09-30	Q4 FY20242024-12-31	Q1 FY20252025-03-31	Q2 FY20252025-06-30	Q3 FY20252025-09-30	Q4 FY20252025-12-31	Q1 FY20262026-03-31	Q2 FY20262026-06-30
Revenue	$m	138	151	168	178	193	210	231	252	272	283	292	298
Cost of revenue	$m	36.3	40.6	45.2	47.3	52.2	58.9	66.6	69.7	74.8	77.0	78.9	81.7
Gross profit	$m	101	110	122	131	140	151	164	183	197	206	213	217
Research and development	$m	50.3	50.3	50.9	55.1	62.9	66.4	70.4	73.7	82.7	79.6	83.0	92.2
Operating income	$m	(4.7)	4.8	16.4	18.7	13.6	13.9	23.6	33.4	35.2	43.5	44.5	33.9
Income tax	$m	0.1	3.0	(1.1)	4.4	2.0	8.4	(0.1)	1.7	(246)	12.5	12.1	12.2
Net income	$m	2.8	12.1	27.0	24.4	23.4	13.9	35.1	44.8	292	42.0	43.5	33.2
Diluted EPS	$ per share	0.06	not reported	0.57	0.51	0.49	not reported	0.72	0.91	5.95	not reported	0.89	0.66
Basic EPS	$ per share	0.07	not reported	0.63	0.56	0.53	not reported	0.78	0.98	6.36	not reported	0.93	0.71

Balance sheet

Cash and equivalents$1.18bn, Q2 FY2026

Shareholders' equity$1.41bn, Q2 FY2026

Duolingo, Inc., balance sheet, quarterly
Line item	Unit	Q3 FY20232023-09-30	FY20232023-12-31	Q1 FY20242024-03-31	Q2 FY20242024-06-30	Q3 FY20242024-09-30	FY20242024-12-31	Q1 FY20252025-03-31	Q2 FY20252025-06-30	Q3 FY20252025-09-30	FY20252025-12-31	Q1 FY20262026-03-31	Q2 FY20262026-06-30
Cash and equivalents	$m	702	748	830	888	854	786	884	976	1,012	1,036	1,139	1,181
Current assets	$m	819	898	977	1,042	1,058	1,102	1,220	1,324	1,367	1,437	1,506	1,571
Total assets	$m	871	954	1,069	1,139	1,220	1,302	1,403	1,543	1,886	1,992	2,058	2,074
Current liabilities	$m	235	277	304	318	342	422	454	471	485	551	574	578
Total liabilities	$m	256	298	358	372	397	477	509	566	578	645	666	664
Shareholders' equity	$m	615	656	711	767	822	825	894	977	1,308	1,347	1,392	1,410

Cash flow

Operating cash flow$88.3m, Q2 FY2026

Capital expenditure$6.9m, Q2 FY2026

Share repurchases$45.3m, Q2 FY2026

Duolingo, Inc., cash flow, quarterly
Line item	Unit	Q3 FY20232023-09-30	Q4 FY20232023-12-31	Q1 FY20242024-03-31	Q2 FY20242024-06-30	Q3 FY20242024-09-30	Q4 FY20242024-12-31	Q1 FY20252025-03-31	Q2 FY20252025-06-30	Q3 FY20252025-09-30	Q4 FY20252025-12-31	Q1 FY20262026-03-31	Q2 FY20262026-06-30
Operating cash flow	$m	37.7	49.2	83.5	62.4	56.3	83.3	106	90.7	84.2	107	151	88.3
Capital expenditure	$m	0.8	0.9	1.4	5.6	3.2	2.0	1.3	1.2	4.9	10.7	0.1	6.9
Share repurchases	$m	not reported	not reported	not reported	not reported	not reported	not reported	0.0	0.0	not reported	not reported	24.3	45.3

Diluted shares (weighted)50.03m, Q2 FY2026

Duolingo, Inc., shares, quarterly
Line item	Unit	Q3 FY20222022-09-30	Q1 FY20232023-03-31	Q2 FY20232023-06-30	Q3 FY20232023-09-30	Q1 FY20242024-03-31	Q2 FY20242024-06-30	Q3 FY20242024-09-30	Q1 FY20252025-03-31	Q2 FY20252025-06-30	Q3 FY20252025-09-30	Q1 FY20262026-03-31	Q2 FY20262026-06-30
Diluted shares (weighted)	m shares	39.8	40.6	46.9	46.9	47.4	47.8	48.0	48.5	49.0	49.1	49.0	50.0

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:43 ET. Listed shows no prices and gives no investment advice.

Duolingo, Inc.

Income statement

Balance sheet

Cash flow

Shares