Duolingo Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	976.23	785.79	747.61	608.18	553.92	120.49
Short-Term Investments	121.65	91.85	-	-	-	-
Cash & Short-Term Investments	1,098	877.65	747.61	608.18	553.92	120.49
Cash Growth	23.60%	17.39%	22.93%	9.79%	359.72%	-
Accounts Receivable	112.92	128.92	88.98	46.73	33.16	20.45
Other Current Assets	113.19	95.02	61.21	42.28	32.19	17.44
Total Current Assets	1,324	1,102	897.8	697.18	619.27	158.38
Net Property, Plant & Equipment	100.67	66.44	30.9	35.48	36.58	14.5
Other Intangible Assets	19.92	19.9	16	8.5	4.57	2.3
Goodwill	10.54	10.54	4.05	4.05	-	-
Long-Term Investments	75.36	98.29	-	-	-	-
Other Long-Term Assets	12.07	4.97	5.22	2.14	0.89	0.56
Total Assets	1,543	1,302	953.96	747.35	661.31	175.74
Accounts Payable	7.73	6.38	2.45	1.18	7.82	2.2
Accrued Expenses	32.45	36.38	24.93	21.97	12.93	8.63
Unearned Revenue	431.18	372.88	249.19	157.55	98.27	54.79
Other Current Liabilities	0.02	6.59	0.79	1.07	0.11	0.07
Total Current Liabilities	471.38	422.23	277.36	181.77	119.13	65.69
Long-Term Leases	93.84	54.66	21.09	23.5	29.12	8.13
Other Long-Term Liabilities	0.3	0.29	-	-	-	-
Total Long-Term Liabilities	94.15	54.95	21.09	23.5	29.12	8.13
Total Liabilities	565.53	477.18	298.46	205.27	148.26	73.82
Preferred Stock	-	-	-	-	-	182.61
Common Stock	0	0	0	0	0	0
Additional Paid-in Capital	1,023	950.39	869.92	772.56	683.97	30.09
Retained Earnings	-45.93	-125.85	-214.42	-230.49	-170.91	-110.78
Total Common Shareholders' Equity	977.03	824.55	655.5	542.08	513.06	101.92
Shareholders' Equity	977.03	824.55	655.5	542.08	513.06	-80.69
Total Liabilities & Equity	1,543	1,302	953.96	747.35	661.31	175.74
Total Debt	93.84	54.66	21.09	23.5	29.12	8.13
Net Cash (Debt)	1,004	822.99	726.52	584.68	524.8	112.36
Net Cash Growth	22.00%	13.28%	24.26%	11.41%	367.07%	-
Net Cash Per Share	20.99	17.47	15.62	14.81	22.40	8.82
Book Value	977.03	824.55	655.5	542.08	513.06	101.92
Book Value Per Share	20.43	17.51	14.09	13.73	21.89	8.00
Tangible Book Value	946.57	794.11	635.46	529.53	508.49	99.62
Tangible Book Value Per Share	19.79	16.86	13.66	13.42	21.70	7.82

Updated Jun 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.