Duolingo, Inc. (DUOL)

Duolingo Balance Sheet

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

Assets

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021
Cash & Equivalents	1,181	1,139	1,036	1,012	976.23	884	785.79	854.41	888.24	829.71	747.61	701.74	678.67	641.09	608.18	599.97	591.16	577.33	553.92	549.44
Short-Term Investments	132.98	113.05	104.08	109.91	121.65	115.28	91.85	26.35	-	-	-	-	-	-	-	-	-	-	-	-
Cash & Short-Term Investments	1,314	1,252	1,140	1,121	1,098	999.28	877.65	880.76	888.24	829.71	747.61	701.74	678.67	641.09	608.18	599.97	591.16	577.33	553.92	549.44
Cash Growth (YoY)	19.67%	25.25%	29.95%	27.33%	23.60%	20.44%	17.39%	25.51%	30.88%	29.42%	22.93%	16.96%	14.80%	11.04%	9.79%	9.20%	415.68%	391.52%	359.72%	-
Accounts Receivable	130.98	125.09	162.83	124.49	112.92	114.18	128.92	94.22	77.72	76.42	88.98	61.71	53.41	52.51	46.73	30.2	28.21	28.57	33.16	20.74
Other Receivables	4.8	7.15	16.17	11.84	2.02	1.61	1.51	-	-	-	-	-	2.36	-	-	-	-	-	-	-
Receivables	135.78	132.24	178.99	136.33	114.93	115.8	130.44	94.22	77.72	76.42	88.98	61.71	55.77	52.51	46.73	30.2	28.21	28.57	33.16	20.74
Prepaid Expenses	18.78	17.6	14.48	14.75	17.38	15.02	13.34	16.13	12.32	10.75	7.28	9.53	7.79	7.5	7.23	7.91	6.56	6.95	7.97	6.44
Other Current Assets	102.69	104.51	102.66	94.57	93.79	89.56	80.16	67.33	63.29	60.4	53.93	46.12	42.72	40.14	35.04	30.26	29.22	27.78	24.22	19.73
Total Current Assets	1,571	1,506	1,437	1,367	1,324	1,220	1,102	1,058	1,042	977.28	897.8	819.11	784.94	741.23	697.18	668.33	655.15	640.64	619.27	596.34
Property, Plant & Equipment	117.45	116.91	116.68	103.89	100.67	65.53	66.44	68.12	68.1	62.99	30.9	31.91	33.55	34.62	35.48	36.34	37.87	37.35	36.58	16.24
Long-Term Investments	102.69	140.21	135.1	98.74	75.36	83.34	98.29	55.33	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill	35.34	35.34	35.34	35.34	10.54	10.54	10.54	10.54	4.05	4.05	4.05	4.05	4.05	4.05	4.05	-	-	-	-	-
Other Intangible Assets	27.6	28.33	28.31	27.97	19.92	18.87	19.9	21.9	20.59	18.6	16	13.77	10.4	8.48	8.5	7.02	6.41	5.49	4.57	4.18
Long-Term Deferred Tax Assets	206.04	217.84	227.34	240.17	0.68	0.68	0.68	0.84	0.84	0.77	0.77	0.63	0.63	0.63	0.63	0.42	0.42	-	-	-
Other Long-Term Assets	13.73	13.42	12.82	12.43	11.4	4.53	4.3	4.39	4.31	4.98	4.45	1.25	1.24	1.37	1.51	1.59	1.21	1.04	0.89	1.01
Total Assets	2,074	2,058	1,992	1,886	1,543	1,403	1,302	1,220	1,139	1,069	953.96	870.71	834.8	790.38	747.35	713.7	701.05	684.51	661.31	617.78

Liabilities

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021
Accounts Payable	16.2	7.49	8	3.57	7.73	2.55	6.38	3.65	3.41	2.63	2.45	2.71	2.31	0.99	1.18	3.36	1.5	2.02	7.82	8.71
Accrued Expenses	55.43	49.56	38.48	35.16	29.49	30.54	33.79	25.23	20.35	18.67	20.99	10.65	9.2	7.09	12.2	6.78	6.62	5.03	5.47	4.52
Current Portion of Leases	-	-	7.2	4.07	2.96	-	2.58	2.62	2.46	2.75	3.94	5.09	6.05	5.52	4.9	4.64	4.53	3.96	3.34	1.54
Current Income Taxes Payable	1.11	3.81	1.26	0.02	0.02	6.38	6.59	0.04	0.04	0.36	0.79	0.06	0.06	0.93	1.07	0.15	0.09	0.14	0.11	0.03
Current Unearned Revenue	505.1	513.26	496.21	441.73	431.18	415.02	372.88	310.6	291.48	279.31	249.19	208.89	192.75	181.94	157.55	134.94	128.19	119.1	98.27	80.46
Other Current Liabilities	-	-	-	-	-	-	-	-	-	-	-	7.54	6.74	6.35	4.87	5.77	6.39	5.53	4.13	3.39
Total Current Liabilities	577.83	574.11	551.15	484.54	471.38	454.49	422.23	342.13	317.72	303.72	277.36	234.93	217.11	202.81	181.77	155.63	147.33	135.78	119.13	98.65
Long-Term Leases	86.14	91.87	93.78	93.26	93.84	54.53	54.66	54.65	54.78	53.89	21.09	20.96	21.29	22.38	23.5	24.24	25.51	28.02	29.12	8.4
Long-Term Deferred Tax Liabilities	0.24	0.24	0.25	0.3	0.3	0.3	0.29	0.31	-	-	-	-	-	-	-	-	-	-	-	-
Total Liabilities	664.21	666.23	645.18	578.1	565.53	509.32	477.18	397.1	372.5	357.62	298.46	255.9	238.4	225.19	205.27	179.87	172.83	163.8	148.26	107.05

Shareholders' Equity

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021
Common Stock	0.01	0.01	0.01	0.01	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid-In Capital	1,046	1,065	1,059	1,061	1,023	984.53	950.39	962.2	930.05	898.51	869.92	841.35	825.75	798.25	772.56	750.38	726.33	703.78	683.97	664.12
Retained Earnings	364.84	331.68	288.22	246.26	-45.93	-90.71	-125.85	-139.75	-163.11	-187.47	-214.42	-226.54	-229.35	-233.07	-230.49	-216.56	-198.11	-183.07	-170.91	-153.4
Treasury Stock	-1.43	-4.5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Common Equity	1,410	1,392	1,347	1,308	977.03	893.83	824.55	822.45	766.94	711.05	655.5	614.82	596.41	565.19	542.08	533.83	528.22	520.71	513.06	510.73
Shareholders' Equity	1,410	1,392	1,347	1,308	977.03	893.83	824.55	822.45	766.94	711.05	655.5	614.82	596.41	565.19	542.08	533.83	528.22	520.71	513.06	510.73
Total Liabilities & Equity	2,074	2,058	1,992	1,886	1,543	1,403	1,302	1,220	1,139	1,069	953.96	870.71	834.8	790.38	747.35	713.7	701.05	684.51	661.31	617.78

Additional Metrics

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021
Total Debt	86.14	91.87	100.98	97.32	96.81	54.53	57.24	57.27	57.23	56.64	25.04	26.05	27.35	27.9	28.41	28.88	30.03	31.99	32.46	9.94
Net Cash (Debt)	1,228	1,160	1,039	1,024	1,001	944.75	820.41	823.5	831.01	773.07	722.57	675.69	651.32	613.19	579.77	571.09	561.13	545.35	521.46	539.5
Net Cash Growth (YoY)	22.64%	22.76%	26.70%	24.36%	20.46%	22.21%	13.54%	21.88%	27.59%	26.07%	24.63%	18.32%	16.07%	12.44%	11.18%	5.86%	428.39%	402.59%	368.74%	-
Net Cash Per Share	24.54	23.67	22.15	20.84	20.43	19.48	17.89	17.17	17.40	16.33	15.50	14.39	13.90	15.10	14.57	14.37	14.29	14.13	13.69	18.27
Filing Date Shares Outstanding	46.79	46.59	46.95	46.23	45.82	45.45	45.24	43.98	43.54	43.12	42.88	42.01	41.54	41.05	40.64	40.17	39.64	39.16	38.63	37.47
Total Common Shares Outstanding	46.72	46.84	46.63	46.11	45.79	45.42	44.94	43.94	43.5	43.06	42.53	41.97	41.53	41.02	40.36	40.09	39.59	39.08	38.27	37.45
Working Capital	993.28	931.85	885.46	882.57	852.61	765.17	679.36	716.3	723.84	673.56	620.44	584.17	567.84	538.42	515.42	512.7	507.82	504.86	500.14	497.7
Book Value Per Share	30.17	29.71	28.89	28.36	21.34	19.68	18.35	18.72	17.63	16.51	15.41	14.65	14.36	13.78	13.43	13.32	13.34	13.33	13.41	13.64
Tangible Book Value	1,347	1,328	1,283	1,244	946.57	864.42	794.11	790.02	742.31	688.41	635.46	597	581.96	552.66	529.53	526.81	521.81	515.23	508.49	506.55
Tangible Book Value Per Share	28.82	28.35	27.52	26.98	20.67	19.03	17.67	17.98	17.06	15.99	14.94	14.22	14.01	13.47	13.12	13.14	13.18	13.18	13.29	13.53
Machinery	14.14	13.08	13.1	12.29	11.77	10.07	8.42	8.86	6.89	5.93	5.87	5.89	5.68	5.38	5.2	4.94	4.4	3.86	3.05	2.7
Leasehold Improvements	52.73	46.77	44.77	32.59	26.92	26.75	26.94	26.45	25.93	20.62	18.19	17.39	17.13	16.69	15.98	15.6	15.31	12.06	10.26	9.86

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 27, 2026

Data Sources Report a data error