Duolingo, Inc. (DUOL)

Duolingo Balance Sheet

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

Fiscal Quarter	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	Q2 2021
Period Ending	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	Jun 30, 2021
Cash & Equivalents	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	114.64
Short-Term Investments	113.05	104.08	109.91	121.65	115.28	91.85	26.35	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash & Short-Term Investments	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	114.64
Cash Growth	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%	356.00%	91.56%
Accounts Receivable	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	25.13
Other Receivables	5.09	14.07	6.89	-	-	0.03	-	-	-	-	-	2.36	-	-	-	-	-	-	-	-
Total Trade Receivables	130.18	176.89	131.38	112.92	114.18	128.95	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	25.13
Other Current Assets	124.17	119.25	111.23	113.19	106.19	94.99	83.46	75.6	71.14	61.21	55.66	50.51	47.63	42.28	38.17	35.78	34.73	32.19	26.17	22.8
Total Current Assets	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	162.57
Net Property, Plant & Equipment	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	14.5
Other Intangible Assets	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	3.73
Goodwill	35.34	35.34	33.32	10.54	10.54	10.54	10.54	4.05	4.05	4.05	4.05	4.05	4.05	4.05	-	-	-	-	-	-
Long-Term Investments	140.21	135.1	100.14	75.36	83.34	98.29	55.33	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Long-Term Assets	231.25	240.16	252.6	12.07	5.21	4.97	5.23	5.14	5.75	5.22	1.88	1.87	2	2.14	2.01	1.62	1.04	0.89	1.01	0.9
Total Assets	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	181.69
Accounts Payable	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	4.27
Accrued Expenses	49.56	45.69	39.23	32.45	30.54	36.38	27.85	22.8	21.42	24.93	23.28	21.99	18.96	21.97	17.18	17.54	14.52	12.93	9.45	9.78
Unearned Revenue	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	71
Other Current Liabilities	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	0.01
Total Current Liabilities	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	85.05
Long-Term Leases	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	7.81
Other Long-Term Liabilities	0.24	0.25	0.3	0.3	0.3	0.29	0.31	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Long-Term Liabilities	92.12	94.03	93.56	94.15	54.84	54.95	54.96	54.78	53.89	21.09	20.96	21.29	22.38	23.5	24.24	25.51	28.02	29.12	8.4	7.81
Total Liabilities	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	92.86
Preferred Stock	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	182.61
Common Stock	0.01	0.01	0.01	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Treasury Stock	-4.5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additional Paid-in Capital	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	30.65
Retained Earnings	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	-124.43
Total Common Shareholders' Equity	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	-93.78
Minority Interest	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	182.61
Shareholders' Equity	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	88.83
Total Liabilities & Equity	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	181.69
Total Debt	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	7.81
Net Cash (Debt)	1,160	1,047	1,028	1,004	944.75	822.99	826.11	833.47	775.82	726.52	680.78	657.37	618.71	584.68	575.72	565.66	549.31	524.8	541.04	106.83
Net Cash Growth	22.76%	27.18%	24.46%	20.47%	21.77%	13.28%	21.35%	26.79%	25.39%	24.26%	18.25%	16.21%	12.63%	11.41%	6.41%	429.51%	401.71%	367.07%	381.53%	111.11%
Net Cash Per Share	23.90	21.63	21.36	20.99	19.88	17.42	17.40	17.65	16.51	16.03	15.59	15.70	15.48	14.81	14.80	15.57	18.43	22.44	31.30	8.20
Book Value	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	-93.78
Book Value Per Share	28.69	27.83	27.17	20.43	18.81	17.46	17.32	16.24	15.13	14.46	14.08	14.24	14.14	13.74	13.73	14.54	17.47	21.94	29.55	-7.19
Tangible Book Value	1,328	1,283	1,246	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	-97.51
Tangible Book Value Per Share	27.37	26.52	25.90	19.79	18.19	16.81	16.64	15.72	14.65	14.02	13.67	13.90	13.83	13.42	13.55	14.36	17.29	21.74	29.30	-7.48

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

SEC Filings: 10-K · 10-Q