Duolingo, Inc. (DUOL)

DUOL Cash Flow Statement

Operating, investing, and financing cash flow analysis

DUOL Quarterly Cash Flow Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Cash from Operations (CFO)	432.963M	150.771M	107.278M	84.239M	90.675M	105.631M	83.344M	56.267M	62.388M
Net Income	422.390M	43.460M	41.954M	292.195M	44.781M	35.135M	13.907M	23.360M	24.351M
Depreciation & Amortization	14.992M	4.191M	3.808M	3.553M	3.440M	3.590M	3.661M	2.876M	2.243M
Stock-Based Compensation	141.066M	34.647M	36.262M	35.565M	34.592M	31.018M	29.787M	28.959M	26.746M
Change in Accounts Receivable	525.321M	125.086M	162.827M	124.489M	112.919M	114.183M	128.923M	94.215M	77.722M
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	71.826M	59.298M	11.346M	-7.147M	8.329M	36.438M	36.290M	1.084M	9.048M
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-16.919M	-132K	-10.727M	-4.862M	-1.198M	-1.309M	-1.961M	-3.178M	-5.563M
Acquisitions	-33.100M	0.00	500K	-33.600M	0.00	0.00	0.00	-6.595M	0.00
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-24.331M	-24.331M	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	416.044M	150.639M	96.551M	79.377M	89.477M	104.322M	81.383M	53.089M	56.825M
Net Change in Cash	254.565M	102.172M	24.847M	35.311M	92.235M	98.205M	-68.618M	-33.831M	58.527M

DUOL Annual Cash Flow Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Cash from Operations (CFO)	387.823M	285.513M	153.614M	53.656M	9.170M	17.708M	2.152M
Net Income	414.065M	88.574M	16.067M	-59.574M	-60.135M	-15.776M	-13.554M
Depreciation & Amortization	14.391M	10.854M	7.095M	4.870M	2.726M	2.256M	1.251M
Stock-Based Compensation	137.437M	110.477M	95.221M	73.820M	40.804M	17.031M	3.725M
Change in Accounts Receivable	162.827M	128.923M	88.975M	46.728M	33.163M	20.450M	10.005M
Change in Inventory	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—
Change in Working Capital	48.966M	75.921M	34.898M	34.540M	25.775M	14.197M	9.502M
Cash from Investing	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-18.096M	-12.116M	-3.191M	-5.562M	-3.586M	-3.376M	-3.770M
Acquisitions	-33.100M	-6.595M	0.00	-4.050M	0.00	0.00	0.00
Cash from Financing	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	0.00	0.00	0.00	0.00	-8.203M	0.00	-168K
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	369.727M	273.397M	150.423M	48.094M	5.584M	14.332M	-1.618M
Net Change in Cash	250.598M	38.181M	139.430M	54.258M	433.432M	60.647M	59.843M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Duolingo, Inc.

Duolingo, Inc. builds and operates an online platform and a mobile application dedicated to language learning, catering to audiences in both the United States and China. The company's comprehensive curriculum spans 40 diverse languages, featuring prominent options such as Spanish, English, French, Japanese, German, Italian, Chinese, and Portuguese, among others. Furthermore, it offers a digital examination for assessing language proficiency. This enterprise was founded in 2011 and its main offices are located in Pittsburgh, Pennsylvania.

Pittsburgh, PA

830 employees

www.duolingo.com

Technology / Software - Application

Sector: Technology
Industry: Software - Application
CEO: Luis Alfonso von Ahn Arellano

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