# Duolingo, Inc.: financial statements, quarterly

DUOL · Nasdaq · CIK 1562088 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/duol.md) · [Financials](/companies/duol/financials.md) · [Filings](/companies/duol/filings.md) · [Insiders](/companies/duol/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/duol/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [138](/filings/0001562088-24-000250.md) | [151 d](/filings/0001628280-26-012494.md) | [168](/filings/0001562088-25-000100.md) | [178](/filings/0001562088-25-000168.md) | [193](/filings/0001628280-25-049743.md) | [210 d](/filings/0001628280-26-012494.md) | [231](/filings/0001628280-26-029976.md) | [252](/filings/0001628280-26-053603.md) | [272](/filings/0001628280-25-049743.md) | [283 d](/filings/0001628280-26-012494.md) | [292](/filings/0001628280-26-029976.md) | [298](/filings/0001628280-26-053603.md) |
| Cost of revenue | $m | [36.3](/filings/0001562088-24-000250.md) | [40.6 d](/filings/0001628280-26-012494.md) | [45.2](/filings/0001562088-25-000100.md) | [47.3](/filings/0001562088-25-000168.md) | [52.2](/filings/0001628280-25-049743.md) | [58.9 d](/filings/0001628280-26-012494.md) | [66.6](/filings/0001628280-26-029976.md) | [69.7](/filings/0001628280-26-053603.md) | [74.8](/filings/0001628280-25-049743.md) | [77.0 d](/filings/0001628280-26-012494.md) | [78.9](/filings/0001628280-26-029976.md) | [81.7](/filings/0001628280-26-053603.md) |
| Gross profit | $m | [101](/filings/0001562088-24-000250.md) | [110 d](/filings/0001628280-26-012494.md) | [122](/filings/0001562088-25-000100.md) | [131](/filings/0001562088-25-000168.md) | [140](/filings/0001628280-25-049743.md) | [151 d](/filings/0001628280-26-012494.md) | [164](/filings/0001628280-26-029976.md) | [183](/filings/0001628280-26-053603.md) | [197](/filings/0001628280-25-049743.md) | [206 d](/filings/0001628280-26-012494.md) | [213](/filings/0001628280-26-029976.md) | [217](/filings/0001628280-26-053603.md) |
| Research and development | $m | [50.3](/filings/0001562088-24-000250.md) | [50.3 d](/filings/0001628280-26-012494.md) | [50.9](/filings/0001562088-25-000100.md) | [55.1](/filings/0001562088-25-000168.md) | [62.9](/filings/0001628280-25-049743.md) | [66.4 d](/filings/0001628280-26-012494.md) | [70.4](/filings/0001628280-26-029976.md) | [73.7](/filings/0001628280-26-053603.md) | [82.7](/filings/0001628280-25-049743.md) | [79.6 d](/filings/0001628280-26-012494.md) | [83.0](/filings/0001628280-26-029976.md) | [92.2](/filings/0001628280-26-053603.md) |
| Operating income | $m | [(4.7)](/filings/0001562088-24-000250.md) | [4.8 d](/filings/0001628280-26-012494.md) | [16.4](/filings/0001562088-25-000100.md) | [18.7](/filings/0001562088-25-000168.md) | [13.6](/filings/0001628280-25-049743.md) | [13.9 d](/filings/0001628280-26-012494.md) | [23.6](/filings/0001628280-26-029976.md) | [33.4](/filings/0001628280-26-053603.md) | [35.2](/filings/0001628280-25-049743.md) | [43.5 d](/filings/0001628280-26-012494.md) | [44.5](/filings/0001628280-26-029976.md) | [33.9](/filings/0001628280-26-053603.md) |
| Income tax | $m | [0.1](/filings/0001562088-24-000250.md) | [3.0 d](/filings/0001628280-26-012494.md) | [(1.1)](/filings/0001562088-25-000100.md) | [4.4](/filings/0001562088-25-000168.md) | [2.0](/filings/0001628280-25-049743.md) | [8.4 d](/filings/0001628280-26-012494.md) | [(0.1)](/filings/0001628280-26-029976.md) | [1.7](/filings/0001628280-26-053603.md) | [(246)](/filings/0001628280-25-049743.md) | [12.5 d](/filings/0001628280-26-012494.md) | [12.1](/filings/0001628280-26-029976.md) | [12.2](/filings/0001628280-26-053603.md) |
| Net income | $m | [2.8](/filings/0001562088-24-000250.md) | [12.1 d](/filings/0001628280-26-012494.md) | [27.0](/filings/0001562088-25-000100.md) | [24.4](/filings/0001562088-25-000168.md) | [23.4](/filings/0001628280-25-049743.md) | [13.9 d](/filings/0001628280-26-012494.md) | [35.1](/filings/0001628280-26-029976.md) | [44.8](/filings/0001628280-26-053603.md) | [292](/filings/0001628280-25-049743.md) | [42.0 d](/filings/0001628280-26-012494.md) | [43.5](/filings/0001628280-26-029976.md) | [33.2](/filings/0001628280-26-053603.md) |
| Diluted EPS | $ per share | [0.06](/filings/0001562088-24-000250.md) | not reported | [0.57](/filings/0001562088-25-000100.md) | [0.51](/filings/0001562088-25-000168.md) | [0.49](/filings/0001628280-25-049743.md) | not reported | [0.72](/filings/0001628280-26-029976.md) | [0.91](/filings/0001628280-26-053603.md) | [5.95](/filings/0001628280-25-049743.md) | not reported | [0.89](/filings/0001628280-26-029976.md) | [0.66](/filings/0001628280-26-053603.md) |
| Basic EPS | $ per share | [0.07](/filings/0001562088-24-000250.md) | not reported | [0.63](/filings/0001562088-25-000100.md) | [0.56](/filings/0001562088-25-000168.md) | [0.53](/filings/0001628280-25-049743.md) | not reported | [0.78](/filings/0001628280-26-029976.md) | [0.98](/filings/0001628280-26-053603.md) | [6.36](/filings/0001628280-25-049743.md) | not reported | [0.93](/filings/0001628280-26-029976.md) | [0.71](/filings/0001628280-26-053603.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [702](/filings/0001562088-23-000221.md) | [748](/filings/0001562088-25-000042.md) | [830](/filings/0001562088-24-000113.md) | [888](/filings/0001562088-24-000207.md) | [854](/filings/0001562088-24-000250.md) | [786](/filings/0001628280-26-012494.md) | [884](/filings/0001562088-25-000100.md) | [976](/filings/0001562088-25-000168.md) | [1,012](/filings/0001628280-25-049743.md) | [1,036](/filings/0001628280-26-053603.md) | [1,139](/filings/0001628280-26-029976.md) | [1,181](/filings/0001628280-26-053603.md) |
| Current assets | $m | [819](/filings/0001562088-23-000221.md) | [898](/filings/0001562088-25-000042.md) | [977](/filings/0001562088-24-000113.md) | [1,042](/filings/0001562088-24-000207.md) | [1,058](/filings/0001562088-24-000250.md) | [1,102](/filings/0001628280-26-012494.md) | [1,220](/filings/0001562088-25-000100.md) | [1,324](/filings/0001562088-25-000168.md) | [1,367](/filings/0001628280-25-049743.md) | [1,437](/filings/0001628280-26-053603.md) | [1,506](/filings/0001628280-26-029976.md) | [1,571](/filings/0001628280-26-053603.md) |
| Total assets | $m | [871](/filings/0001562088-23-000221.md) | [954](/filings/0001562088-25-000042.md) | [1,069](/filings/0001562088-24-000113.md) | [1,139](/filings/0001562088-24-000207.md) | [1,220](/filings/0001562088-24-000250.md) | [1,302](/filings/0001628280-26-012494.md) | [1,403](/filings/0001562088-25-000100.md) | [1,543](/filings/0001562088-25-000168.md) | [1,886](/filings/0001628280-25-049743.md) | [1,992](/filings/0001628280-26-053603.md) | [2,058](/filings/0001628280-26-029976.md) | [2,074](/filings/0001628280-26-053603.md) |
| Current liabilities | $m | [235](/filings/0001562088-23-000221.md) | [277](/filings/0001562088-25-000042.md) | [304](/filings/0001562088-24-000113.md) | [318](/filings/0001562088-24-000207.md) | [342](/filings/0001562088-24-000250.md) | [422](/filings/0001628280-26-012494.md) | [454](/filings/0001562088-25-000100.md) | [471](/filings/0001562088-25-000168.md) | [485](/filings/0001628280-25-049743.md) | [551](/filings/0001628280-26-053603.md) | [574](/filings/0001628280-26-029976.md) | [578](/filings/0001628280-26-053603.md) |
| Total liabilities | $m | [256](/filings/0001562088-23-000221.md) | [298](/filings/0001562088-25-000042.md) | [358](/filings/0001562088-24-000113.md) | [372](/filings/0001562088-24-000207.md) | [397](/filings/0001562088-24-000250.md) | [477](/filings/0001628280-26-012494.md) | [509](/filings/0001562088-25-000100.md) | [566](/filings/0001562088-25-000168.md) | [578](/filings/0001628280-25-049743.md) | [645](/filings/0001628280-26-053603.md) | [666](/filings/0001628280-26-029976.md) | [664](/filings/0001628280-26-053603.md) |
| Shareholders' equity | $m | [615](/filings/0001562088-24-000250.md) | [656](/filings/0001628280-26-012494.md) | [711](/filings/0001562088-25-000168.md) | [767](/filings/0001628280-25-049743.md) | [822](/filings/0001628280-25-049743.md) | [825](/filings/0001628280-26-053603.md) | [894](/filings/0001628280-26-053603.md) | [977](/filings/0001628280-26-053603.md) | [1,308](/filings/0001628280-25-049743.md) | [1,347](/filings/0001628280-26-053603.md) | [1,392](/filings/0001628280-26-053603.md) | [1,410](/filings/0001628280-26-053603.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [37.7 d](/filings/0001562088-24-000250.md) | [49.2 d](/filings/0001628280-26-012494.md) | [83.5](/filings/0001562088-25-000100.md) | [62.4 d](/filings/0001562088-25-000168.md) | [56.3 d](/filings/0001628280-25-049743.md) | [83.3 d](/filings/0001628280-26-012494.md) | [106](/filings/0001628280-26-029976.md) | [90.7 d](/filings/0001628280-26-053603.md) | [84.2 d](/filings/0001628280-25-049743.md) | [107 d](/filings/0001628280-26-012494.md) | [151](/filings/0001628280-26-029976.md) | [88.3 d](/filings/0001628280-26-053603.md) |
| Capital expenditure | $m | [0.8 d](/filings/0001562088-24-000250.md) | [0.9 d](/filings/0001628280-26-012494.md) | [1.4](/filings/0001562088-25-000100.md) | [5.6 d](/filings/0001562088-25-000168.md) | [3.2 d](/filings/0001628280-25-049743.md) | [2.0 d](/filings/0001628280-26-012494.md) | [1.3](/filings/0001628280-26-029976.md) | [1.2 d](/filings/0001628280-26-053603.md) | [4.9 d](/filings/0001628280-25-049743.md) | [10.7 d](/filings/0001628280-26-012494.md) | [0.1](/filings/0001628280-26-029976.md) | [6.9 d](/filings/0001628280-26-053603.md) |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001628280-26-029976.md) | [0.0 d](/filings/0001628280-26-053603.md) | not reported | not reported | [24.3](/filings/0001628280-26-029976.md) | [45.3 d](/filings/0001628280-26-053603.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [39.8](/filings/0001562088-23-000221.md) | [40.6](/filings/0001562088-24-000113.md) | [46.9](/filings/0001562088-24-000207.md) | [46.9](/filings/0001562088-24-000250.md) | [47.4](/filings/0001562088-25-000100.md) | [47.8](/filings/0001562088-25-000168.md) | [48.0](/filings/0001628280-25-049743.md) | [48.5](/filings/0001628280-26-029976.md) | [49.0](/filings/0001628280-26-053603.md) | [49.1](/filings/0001628280-25-049743.md) | [49.0](/filings/0001628280-26-029976.md) | [50.0](/filings/0001628280-26-053603.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:43 ET. No prices; not investment advice.