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Duolingo, Inc. (DUOL)
NASDAQ: DUOL · Real-Time Price · USD
157.42
-6.70 (-4.08%)
At close: Nov 12, 2026, 4:00 PM EST
157.42
0.00 (0.00%)
After-hours: Nov 12, 2026, 7:58 PM EST

Duolingo Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
145.74414.0788.5716.07-59.57-60.14
Depreciation & Amortization
16.5314.3910.857.14.872.73
Asset Writedown & Restructuring Costs
2.13-----
Loss (Gain) From Sale of Investments
-1.38-1.85-0.55---
Stock-Based Compensation
156.6137.44110.4895.2273.8240.8
Other Operating Activities
38.03-225.190.240.33--
Change in Accounts Receivable
-17.57-33.9-39.92-42.25-13.57-12.71
Change in Accounts Payable
10.081.623.931.26-6.665.62
Change in Unearned Revenue
71.84123.32123.6991.6459.2843.48
Change in Other Net Operating Assets
13.75-42.07-11.79-15.76-4.52-10.61
Operating Cash Flow
435.75387.82285.51153.6153.669.17
Operating Cash Flow Growth
19.75%35.83%85.86%186.29%485.13%-48.22%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-28.73-18.1-12.12-3.19-5.56-3.59
Cash Acquisitions
-5.01-33.1-6.6--4.05-
Sale (Purchase) of Intangibles
-11.54-9.3-9.02-10.39-4.56-2.62
Investment in Securities
-34.39-47.18-189.6---
Investing Cash Flow
-79.66-107.68-217.33-13.58-14.17-6.21

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Issuance of Common Stock
8.8512.5719.3613.6214.78438.67
Repurchase of Common Stock
-136.87-41.62-49.36-11.48--0.87
Other Financing Activities
--0.5----7.34
Financing Cash Flow
-128.03-29.55-302.1414.78430.47

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Cash Flow
228.07250.638.18142.1754.26433.43

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
407.03369.73273.4150.4248.095.58
Free Cash Flow Growth
14.80%35.23%81.75%212.77%761.28%-61.04%
Free Cash Flow Margin
34.43%35.63%36.55%28.32%13.02%2.23%
Free Cash Flow Per Share
8.297.655.803.231.220.24
Levered Free Cash Flow
313.43264.8212.55115.8265.2323.58
Unlevered Free Cash Flow
313.43264.8212.55115.8265.2323.58

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Income Tax Paid
6.2414.417.622.320.620.13
Change in Working Capital
78.1148.9775.9234.934.5425.78
SEC Filings: 10-K · 10-Q