Duolingo Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,139	1,036	785.79	747.61	608.18	553.92
Short-Term Investments	113.05	104.08	91.85	-	-	-
Cash & Short-Term Investments	1,252	1,140	877.65	747.61	608.18	553.92
Cash Growth	25.25%	29.95%	17.39%	22.93%	9.79%	359.72%
Accounts Receivable	125.09	162.83	128.92	88.98	46.73	33.16
Other Receivables	5.09	14.07	0.03	-	-	-
Total Trade Receivables	130.18	176.89	128.95	88.98	46.73	33.16
Other Current Assets	124.17	119.25	94.99	61.21	42.28	32.19
Total Current Assets	1,506	1,437	1,102	897.8	697.18	619.27
Net Property, Plant & Equipment	116.91	116.68	66.44	30.9	35.48	36.58
Other Intangible Assets	28.33	28.31	19.9	16	8.5	4.57
Goodwill	35.34	35.34	10.54	4.05	4.05	-
Long-Term Investments	140.21	135.1	98.29	-	-	-
Other Long-Term Assets	231.25	240.16	4.97	5.22	2.14	0.89
Total Assets	2,058	1,992	1,302	953.96	747.35	661.31
Accounts Payable	7.49	8	6.38	2.45	1.18	7.82
Accrued Expenses	49.56	45.69	36.38	24.93	21.97	12.93
Unearned Revenue	513.26	496.21	372.88	249.19	157.55	98.27
Other Current Liabilities	3.81	1.26	6.59	0.79	1.07	0.11
Total Current Liabilities	574.11	551.15	422.23	277.36	181.77	119.13
Long-Term Leases	91.87	93.78	54.66	21.09	23.5	29.12
Other Long-Term Liabilities	0.24	0.25	0.29	-	-	-
Total Long-Term Liabilities	92.12	94.03	54.95	21.09	23.5	29.12
Total Liabilities	666.23	645.18	477.18	298.46	205.27	148.26
Common Stock	0.01	0.01	0	0	0	0
Treasury Stock	-4.5	-	-	-	-	-
Additional Paid-in Capital	1,065	1,059	950.39	869.92	772.56	683.97
Retained Earnings	331.68	288.22	-125.85	-214.42	-230.49	-170.91
Total Common Shareholders' Equity	1,392	1,347	824.55	655.5	542.08	513.06
Shareholders' Equity	1,392	1,347	824.55	655.5	542.08	513.06
Total Liabilities & Equity	2,058	1,992	1,302	953.96	747.35	661.31
Total Debt	91.87	93.78	54.66	21.09	23.5	29.12
Net Cash (Debt)	1,160	1,047	822.99	726.52	584.68	524.8
Net Cash Growth	10.80%	27.18%	13.28%	24.26%	11.41%	367.07%
Net Cash Per Share	23.90	21.67	17.47	15.62	14.81	22.40
Book Value	1,392	1,347	824.55	655.5	542.08	513.06
Book Value Per Share	28.69	27.88	17.51	14.09	13.73	21.89
Tangible Book Value	1,328	1,283	794.11	635.46	529.53	508.49
Tangible Book Value Per Share	27.37	26.57	16.86	13.66	13.42	21.70

Updated May 4, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q