Duolingo (DUOL) Financials

$525.73 +5.50 (+1.06%)

As of 05/20/2025 04:00 PM Eastern

Annual Income Statements for Duolingo

This table shows Duolingo's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Net Income / (Loss) Attributable to Common Shareholders	89	16	-60	-60	-16
Consolidated Net Income / (Loss)	89	16	-60	-60	-16
Net Income / (Loss) Continuing Operations	89	16	-60	-60	-16
Total Pre-Tax Income	102	18	-59	-60	-16
Total Operating Income	63	-13	-65	-60	-16
Total Gross Profit	544	389	270	182	116
Total Revenue	748	531	369	251	162
Operating Revenue	748	531	369	251	162
Total Cost of Revenue	204	142	99	69	46
Operating Cost of Revenue	204	142	99	69	46
Total Operating Expenses	482	402	335	242	132
Selling, General & Admin Expense	160	133	119	79	44
Marketing Expense	90	76	67	59	35
Research & Development Expense	235	194	150	104	53
Other Operating Expenses / (Income)	-1.27	-0.59	-0.13	-0.32	-0.16
Total Other Income / (Expense), net	40	31	6.56	0.05	0.30
Interest & Investment Income	43	31	7.24	0.02	0.23
Other Income / (Expense), net	-2.99	-0.06	-0.68	0.03	0.07
Income Tax Expense	14	1.71	0.94	0.18	0.07
Basic Earnings per Share	$2.04	$0.39	($1.51)	($2.57)	($1.24)
Weighted Average Basic Shares Outstanding	45.24M	42.88M	40.64M	38.63M	-
Diluted Earnings per Share	$1.88	$0.35	($1.51)	($2.57)	($1.24)
Weighted Average Diluted Shares Outstanding	45.24M	42.88M	40.64M	38.63M	-
Weighted Average Basic & Diluted Shares Outstanding	45.24M	42.88M	40.64M	38.63M	-

This table shows Duolingo's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	35	14	23	24	27	12	2.81	3.73	-2.58	-14	-18
Consolidated Net Income / (Loss)	35	14	23	24	27	12	2.81	3.73	-2.58	-14	-18
Net Income / (Loss) Continuing Operations	35	14	23	24	27	12	2.81	3.73	-2.58	-14	-18
Total Pre-Tax Income	35	22	25	29	26	15	2.93	2.41	-2.70	-13	-18
Total Operating Income	24	14	14	19	16	4.80	-4.67	-4.87	-8.52	-18	-20
Total Gross Profit	164	151	140	131	122	110	101	93	84	76	70
Total Revenue	231	210	193	178	168	151	138	127	116	104	96
Operating Revenue	231	210	193	178	168	151	138	127	116	104	96
Total Cost of Revenue	67	59	52	47	45	41	36	34	31	28	26
Operating Cost of Revenue	67	59	52	47	45	41	36	34	31	28	26
Total Operating Expenses	141	137	127	112	106	106	106	98	93	94	90
Selling, General & Admin Expense	43	50	38	37	35	37	33	32	30	32	30
Marketing Expense	27	25	26	20	20	19	22	18	17	19	18
Research & Development Expense	70	66	63	55	51	50	50	48	46	44	42
Total Other Income / (Expense), net	11	8.47	12	10	9.41	10	7.60	7.28	5.82	4.94	1.77
Interest & Investment Income	10	11	11	11	10	9.28	8.63	7.54	5.64	4.27	2.26
Other Income / (Expense), net	1.00	-2.23	0.57	-0.71	-0.62	1.05	-1.02	-0.27	0.18	0.67	-0.49
Income Tax Expense	-0.13	8.45	2.03	4.36	-1.11	3.02	0.13	-1.32	-0.12	0.72	0.05
Basic Earnings per Share	$0.78	$0.32	$0.53	$0.56	$0.63	$0.29	$0.07	$0.09	($0.06)	($0.36)	($0.46)
Weighted Average Basic Shares Outstanding	45.45M	45.24M	43.98M	43.54M	43.12M	42.88M	42.01M	41.54M	41.05M	40.64M	40.17M
Diluted Earnings per Share	$0.72	$0.31	$0.49	$0.51	$0.57	$0.27	$0.06	$0.08	($0.06)	($0.36)	($0.46)
Weighted Average Diluted Shares Outstanding	45.45M	45.24M	43.98M	43.54M	43.12M	42.88M	42.01M	41.54M	41.05M	40.64M	40.17M
Weighted Average Basic & Diluted Shares Outstanding	45.45M	45.24M	43.98M	43.54M	43.12M	42.88M	42.01M	41.54M	41.05M	40.64M	40.17M

This table details how cash moves in and out of Duolingo's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Net Change in Cash & Equivalents	38	142	54	433	61
Net Cash From Operating Activities	286	154	54	9.17	18
Net Cash From Continuing Operating Activities	285	154	54	9.17	18
Net Income / (Loss) Continuing Operations	89	16	-60	-60	-16
Consolidated Net Income / (Loss)	89	16	-60	-60	-16
Depreciation Expense	11	7.10	4.87	2.73	2.26
Amortization Expense	-0.55	0.00	0.00	-	-
Non-Cash Adjustments To Reconcile Net Income	110	96	74	41	17
Changes in Operating Assets and Liabilities, net	76	35	35	26	14
Net Cash From Investing Activities	-217	-14	-14	-6.21	-4.01
Net Cash From Continuing Investing Activities	-217	-14	-14	-6.21	-4.01
Purchase of Property, Plant & Equipment	-12	-3.19	-5.56	-3.59	-3.38
Acquisitions	-6.60	0.00	-4.05	0.00	0.00
Purchase of Investments	-193	0.00	0.00	-	-
Sale of Property, Plant & Equipment	0.00	0.10	0.00	0.00	-
Sale and/or Maturity of Investments	3.71	0.00	0.00	-	-
Other Investing Activities, net	-9.02	-10	-4.56	-2.62	-0.64
Net Cash From Financing Activities	-30	2.14	15	430	47
Net Cash From Continuing Financing Activities	-30	2.14	15	430	47
Other Financing Activities, net	-30	2.14	15	12	2.03
Cash Income Taxes Paid	7.62	2.32	0.62	0.13	0.00

This table details how cash moves in and out of Duolingo's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	98	-69	-34	59	82	49	23	38	33	8.21	8.81
Net Cash From Operating Activities	106	83	56	62	84	49	38	37	30	12	8.76
Net Cash From Continuing Operating Activities	106	83	56	62	84	49	38	37	30	12	8.76
Net Income / (Loss) Continuing Operations	35	14	23	24	27	12	2.81	3.73	-2.58	-14	-18
Consolidated Net Income / (Loss)	35	14	23	24	27	12	2.81	3.73	-2.58	-14	-18
Depreciation Expense	3.59	3.66	2.88	2.24	2.07	2.04	1.66	1.63	1.76	1.44	1.48
Amortization Expense	-0.55	-0.54	-	-	-	-	-	-	-	-	-
Non-Cash Adjustments To Reconcile Net Income	31	30	29	27	25	25	26	24	21	21	20
Changes in Operating Assets and Liabilities, net	36	36	1.08	9.05	29	10	7.34	8.09	9.45	3.46	5.23
Net Cash From Investing Activities	-11	-110	-93	-8.66	-5.02	-4.15	-4.75	-3.37	-1.31	-4.95	-3.52
Net Cash From Continuing Investing Activities	-11	-110	-93	-8.66	-5.02	-4.15	-4.75	-3.37	-1.31	-4.95	-3.52
Purchase of Property, Plant & Equipment	-1.31	-1.96	-3.18	-5.56	-1.41	-0.92	-0.76	-0.83	-0.68	-0.29	-2.08
Purchase of Investments	-27	-112	-	-	-	-	-	-	-	-	-
Sale and/or Maturity of Investments	19	-	-	-	-	-	-	-	-	-	-
Other Investing Activities, net	-1.31	-0.48	-1.85	-3.09	-3.61	-3.22	-3.99	-2.54	-0.73	-0.60	-1.44
Net Cash From Financing Activities	3.12	-42	3.19	4.80	3.61	3.56	-9.83	3.78	4.62	1.55	3.56
Net Cash From Continuing Financing Activities	3.12	-42	3.19	4.80	3.61	3.56	-9.83	3.78	4.62	1.55	3.56
Other Financing Activities, net	3.12	-42	3.19	4.80	3.61	3.56	-9.83	3.78	4.62	1.55	3.56
Cash Income Taxes Paid	0.09	0.82	1.87	4.93	0.00	0.13	0.26	1.91	0.03	0.01	-

This table presents Duolingo's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Total Assets	1,302	954	747	661	176
Total Current Assets	1,102	898	697	619	158
Cash & Equivalents	786	748	608	554	120
Short-Term Investments	92	0.00	-	-	-
Accounts Receivable	129	89	47	33	20
Prepaid Expenses	15	7.28	7.23	7.97	3.86
Other Current Assets	80	54	35	24	14
Plant, Property, & Equipment, net	19	12	13	8.21	6.43
Total Noncurrent Assets	181	44	37	34	11
Long-Term Investments	98	0.00	-	-	-
Goodwill	11	4.05	4.05	0.00	-
Intangible Assets	20	16	8.50	4.57	2.30
Noncurrent Deferred & Refundable Income Taxes	0.68	0.77	0.63	0.00	-
Other Noncurrent Operating Assets	52	24	24	29	8.64
Total Liabilities & Shareholders' Equity	1,302	954	747	661	176
Total Liabilities	477	298	205	148	74
Total Current Liabilities	422	277	182	119	66
Accounts Payable	6.38	2.45	1.18	7.82	2.20
Accrued Expenses	36	25	22	13	8.63
Current Deferred Revenue	373	249	158	98	55
Current Deferred & Payable Income Tax Liabilities	6.59	0.79	1.07	0.11	0.07
Total Noncurrent Liabilities	55	21	24	29	8.13
Noncurrent Deferred & Payable Income Tax Liabilities	0.29	0.00	-	-	-
Other Noncurrent Operating Liabilities	55	21	24	29	8.13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	825	656	542	513	-81
Total Preferred & Common Equity	825	656	542	513	-81
Total Common Equity	825	656	542	513	-81
Common Stock	950	870	773	684	30
Retained Earnings	-126	-214	-230	-171	-111

This table presents Duolingo's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,403	1,220	1,139	1,069	871	835	790	714
Total Current Assets	1,220	1,058	1,042	977	819	785	741	668
Cash & Equivalents	884	854	888	830	702	679	641	600
Short-Term Investments	115	26	-	-	-	-	-	-
Accounts Receivable	114	94	78	76	62	53	53	30
Prepaid Expenses	17	16	12	11	9.53	7.79	7.50	7.91
Other Current Assets	90	67	63	60	46	43	40	30
Plant, Property, & Equipment, net	19	19	18	13	12	13	13	13
Total Noncurrent Assets	164	142	80	78	40	37	36	32
Long-Term Investments	83	55	-	-	-	-	-	-
Goodwill	11	11	4.05	4.05	4.05	4.05	4.05	-
Intangible Assets	19	22	21	19	14	10	8.48	7.02
Noncurrent Deferred & Refundable Income Taxes	0.68	0.84	0.84	0.77	0.63	0.63	0.63	0.42
Other Noncurrent Operating Assets	51	53	54	55	21	22	23	25
Total Liabilities & Shareholders' Equity	1,403	1,220	1,139	1,069	871	835	790	714
Total Liabilities	509	397	372	358	256	238	225	180
Total Current Liabilities	454	342	318	304	235	217	203	156
Accounts Payable	2.55	3.65	3.41	2.63	2.71	2.31	0.99	3.36
Accrued Expenses	31	28	23	21	23	22	19	17
Current Deferred Revenue	415	311	291	279	209	193	182	135
Current Deferred & Payable Income Tax Liabilities	6.38	0.04	0.04	0.36	0.06	0.06	0.93	0.15
Total Noncurrent Liabilities	55	55	55	54	21	21	22	24
Noncurrent Deferred & Payable Income Tax Liabilities	0.30	0.31	-	-	-	-	-	-
Other Noncurrent Operating Liabilities	55	55	55	54	21	21	22	24
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	894	822	767	711	615	596	565	534
Total Preferred & Common Equity	894	822	767	711	615	596	565	534
Total Common Equity	894	822	767	711	615	596	565	534
Common Stock	985	962	930	899	841	826	798	750
Retained Earnings	-91	-140	-163	-187	-227	-229	-233	-217

This table displays calculated financial ratios and metrics derived from Duolingo's official financial filings.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Growth Metrics	-	-	-	-	-
Revenue Growth	40.84%	43.74%	47.34%	55.09%	0.00%
EBITDA Growth	1,224.17%	89.81%	-6.55%	-318.41%	0.00%
EBIT Growth	547.72%	79.79%	-9.83%	-276.29%	0.00%
NOPAT Growth	552.23%	73.74%	-8.65%	-274.79%	0.00%
Net Income Growth	451.28%	126.97%	0.93%	-281.18%	0.00%
EPS Growth	437.14%	123.18%	41.25%	-107.26%	0.00%
Operating Cash Flow Growth	85.86%	186.29%	485.13%	-48.22%	0.00%
Free Cash Flow Firm Growth	709.16%	168.74%	-3.50%	0.00%	0.00%
Invested Capital Growth	-64.36%	-39.34%	-61.75%	-120.04%	0.00%
Revenue Q/Q Growth	8.49%	9.75%	9.10%	0.00%	0.00%
EBITDA Q/Q Growth	10.90%	79.38%	-1.20%	0.00%	0.00%
EBIT Q/Q Growth	10.79%	63.67%	-2.19%	0.00%	0.00%
NOPAT Q/Q Growth	10.97%	52.72%	-1.14%	0.00%	0.00%
Net Income Q/Q Growth	2.06%	260.99%	5.68%	0.00%	0.00%
EPS Q/Q Growth	2.17%	225.00%	10.65%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	13.59%	32.39%	26.31%	-26.16%	0.00%
Free Cash Flow Firm Q/Q Growth	50.18%	407.05%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-33.22%	-5.97%	0.06%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-
Gross Margin	72.78%	73.24%	73.09%	72.41%	71.56%
EBITDA Margin	9.35%	-1.17%	-16.51%	-22.83%	-8.46%
Operating Margin	8.37%	-2.50%	-17.64%	-23.93%	-9.90%
EBIT Margin	7.97%	-2.51%	-17.83%	-23.92%	-9.86%
Profit (Net Income) Margin	11.84%	3.03%	-16.12%	-23.98%	-9.76%
Tax Burden Percent	86.58%	90.38%	101.60%	100.30%	100.43%
Interest Burden Percent	171.63%	-133.52%	89.02%	99.97%	98.55%
Effective Tax Rate	13.42%	9.62%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	11.97%	2.68%	-11.29%	-19.56%	-15.48%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	5.29%	-1.57%	-9.35%	-14.33%	-9.07%
Return on Assets (ROA)	7.85%	1.89%	-8.46%	-14.37%	-8.98%
Return on Common Equity (ROCE)	11.97%	2.68%	-11.29%	-13.75%	12.26%
Return on Equity Simple (ROE_SIMPLE)	10.74%	2.45%	-10.99%	-11.72%	19.55%
Net Operating Profit after Tax (NOPAT)	54	-12	-46	-42	-11
NOPAT Margin	7.24%	-2.26%	-12.35%	-16.75%	-6.93%
Net Nonoperating Expense Percent (NNEP)	3.99%	4.14%	-2.40%	-5.38%	-3.79%
Return On Investment Capital (ROIC_SIMPLE)	6.57%	-1.83%	-8.42%	-	-
Cost of Revenue to Revenue	27.22%	26.76%	26.91%	27.59%	28.44%
SG&A Expenses to Revenue	21.42%	25.00%	32.11%	31.45%	27.09%
R&D to Revenue	31.46%	36.59%	40.72%	41.41%	32.79%
Operating Expenses to Revenue	64.41%	75.74%	90.73%	96.34%	81.46%
Earnings before Interest and Taxes (EBIT)	60	-13	-66	-60	-16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	-6.22	-61	-57	-14
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	17.30	14.54	5.27	7.75	0.00
Price to Tangible Book Value (P/TBV)	17.96	15.00	5.40	7.82	0.00
Price to Revenue (P/Rev)	19.07	17.95	7.73	15.86	3.22
Price to Earnings (P/E)	161.01	593.19	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.62%	0.17%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	17.76	16.54	6.09	13.65	3.61
Enterprise Value to EBITDA (EV/EBITDA)	190.03	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	222.87	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	245.14	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	46.53	57.18	41.92	373.20	32.92
Enterprise Value to Free Cash Flow (EV/FCFF)	117.08	626.33	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.16	-1.13	-1.10	-1.10	-1.18
Leverage Ratio	1.52	1.42	1.34	1.36	1.72
Compound Leverage Factor	2.62	-1.90	1.19	1.36	1.70
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	179.17%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	-79.17%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	19.15	20.14	8.95	16.72	4.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	29.69%	179.17%
Liquidity Ratios	-	-	-	-	-
Current Ratio	2.61	3.24	3.84	5.20	2.41
Quick Ratio	2.38	3.02	3.60	4.93	2.15
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	113	14	-20	-20	0.00
Operating Cash Flow to CapEx	2,356.50%	4,969.72%	964.69%	255.72%	524.53%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.66	0.62	0.52	0.60	0.92
Accounts Receivable Turnover	6.87	7.83	9.25	9.35	7.91
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	48.68	42.90	34.89	34.26	25.15
Accounts Payable Turnover	46.14	78.42	22.11	13.82	20.94
Days Sales Outstanding (DSO)	53.16	46.63	39.46	39.02	46.16
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	7.91	4.65	16.51	26.42	17.43
Cash Conversion Cycle (CCC)	45.25	41.98	22.95	12.60	28.73
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	-151	-92	-66	-41	-19
Invested Capital Turnover	-6.14	-6.71	-6.91	-8.44	-8.71
Increase / (Decrease) in Invested Capital	-59	-26	-25	-22	0.00
Enterprise Value (EV)	13,285	8,783	2,249	3,422	583
Market Capitalization	14,261	9,531	2,857	3,976	521
Book Value per Share	$18.23	$15.60	$13.49	$13.69	($15.80)
Tangible Book Value per Share	$17.55	$15.12	$13.18	$13.57	($16.25)
Total Capital	825	656	542	513	102
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00
Net Debt	-976	-748	-608	-554	-120
Capital Expenditures (CapEx)	12	3.09	5.56	3.59	3.38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-198	-127	-93	-54	-28
Debt-free Net Working Capital (DFNWC)	679	620	515	500	93
Net Working Capital (NWC)	679	620	515	500	93
Net Nonoperating Expense (NNE)	-34	-28	14	18	4.57
Net Nonoperating Obligations (NNO)	-976	-748	-608	-554	-120
Total Depreciation and Amortization (D&A)	10	7.10	4.87	2.73	2.26
Debt-free, Cash-free Net Working Capital to Revenue	-26.51%	-23.95%	-25.11%	-21.45%	-17.19%
Debt-free Net Working Capital to Revenue	90.82%	116.82%	139.49%	199.44%	57.32%
Net Working Capital to Revenue	90.82%	116.82%	139.49%	199.44%	57.32%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.04	$0.39	($1.51)	($2.57)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	45.24M	42.88M	40.64M	38.63M	0.00
Adjusted Diluted Earnings per Share	$1.88	$0.35	($1.51)	($2.57)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	45.24M	42.88M	40.64M	38.63M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.24M	42.88M	40.64M	38.63M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	54	-12	-46	-42	-11
Normalized NOPAT Margin	7.24%	-2.26%	-12.35%	-16.75%	-6.93%
Pre Tax Income Margin	13.68%	3.35%	-15.87%	-23.91%	-9.71%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-1.44%	0.00%

This table displays calculated financial ratios and metrics derived from Duolingo's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	37.71%	38.79%	39.94%	40.59%	44.87%	45.42%	43.26%	43.51%	42.40%	42.20%	51.06%
EBITDA Growth	54.45%	87.26%	521.68%	678.34%	372.12%	149.19%	78.95%	75.71%	42.25%	3.69%	31.99%
EBIT Growth	55.49%	99.26%	348.43%	450.54%	289.73%	133.45%	72.43%	67.04%	31.43%	-0.41%	28.59%
NOPAT Growth	38.13%	124.96%	379.34%	310.90%	387.45%	130.22%	68.32%	28.55%	28.09%	-4.23%	29.75%
Net Income Growth	30.34%	14.77%	732.21%	553.72%	1,144.00%	186.98%	115.22%	124.76%	78.76%	20.48%	36.33%
EPS Growth	26.32%	14.81%	716.67%	537.50%	1,050.00%	175.00%	113.04%	121.05%	80.65%	33.33%	53.06%
Operating Cash Flow Growth	26.48%	69.42%	49.45%	67.86%	182.10%	323.79%	329.84%	193.53%	43.52%	2,587.04%	94.17%
Free Cash Flow Firm Growth	56.62%	127.55%	140.46%	365.23%	349.61%	138.21%	22.43%	-65.72%	-72.43%	0.00%	-28.47%
Invested Capital Growth	-59.11%	-64.36%	-30.74%	-47.45%	-56.33%	-39.34%	-31.41%	-30.69%	-34.06%	-61.75%	-70.87%
Revenue Q/Q Growth	10.11%	8.80%	8.00%	6.43%	10.97%	9.71%	8.50%	9.66%	11.40%	8.08%	8.69%
EBITDA Q/Q Growth	87.01%	-13.17%	-15.90%	13.10%	126.74%	295.52%	-15.35%	46.78%	59.02%	16.31%	-33.10%
EBIT Q/Q Growth	111.03%	-17.59%	-21.40%	13.75%	170.44%	202.74%	-10.91%	38.43%	52.32%	15.33%	-32.61%
NOPAT Q/Q Growth	174.15%	-30.84%	-21.25%	-7.49%	346.47%	185.87%	40.54%	-26.10%	53.07%	9.97%	-34.11%
Net Income Q/Q Growth	152.64%	-40.47%	-4.07%	-9.66%	122.46%	331.67%	-24.64%	244.27%	81.46%	24.48%	-22.60%
EPS Q/Q Growth	132.26%	-36.73%	-3.92%	-10.53%	111.11%	350.00%	-25.00%	233.33%	83.33%	21.74%	-21.05%
Operating Cash Flow Q/Q Growth	26.74%	48.12%	-9.81%	-25.30%	69.77%	30.66%	1.30%	25.55%	155.03%	32.53%	-30.82%
Free Cash Flow Firm Q/Q Growth	38.13%	73.21%	-28.57%	-8.36%	100.69%	83.04%	38.19%	-11.43%	6.33%	-5.92%	-61.31%
Invested Capital Q/Q Growth	-24.71%	-33.22%	6.31%	-2.22%	-28.83%	-5.97%	-5.66%	-8.38%	-14.83%	0.06%	-5.08%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.12%	71.88%	72.91%	73.45%	73.03%	73.13%	73.66%	73.36%	72.77%	73.25%	72.62%
EBITDA Margin	11.98%	7.05%	8.84%	11.35%	10.68%	5.23%	-2.93%	-2.76%	-5.68%	-15.45%	-19.96%
Operating Margin	10.23%	6.62%	7.05%	10.49%	9.81%	3.18%	-3.39%	-3.84%	-7.37%	-17.48%	-20.99%
EBIT Margin	10.66%	5.56%	7.34%	10.09%	9.44%	3.87%	-4.14%	-4.05%	-7.21%	-16.84%	-21.50%
Profit (Net Income) Margin	15.23%	6.64%	12.13%	13.66%	16.09%	8.03%	2.04%	2.94%	-2.23%	-13.42%	-19.20%
Tax Burden Percent	100.36%	62.22%	92.01%	84.81%	104.27%	80.07%	95.74%	154.56%	95.70%	105.42%	100.29%
Interest Burden Percent	142.35%	191.78%	179.52%	159.58%	163.43%	258.73%	-51.50%	-46.95%	32.36%	75.56%	89.06%
Effective Tax Rate	-0.36%	37.78%	7.99%	15.19%	-4.27%	19.93%	4.26%	-54.56%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	12.06%	11.97%	12.08%	9.72%	7.15%	2.68%	-1.74%	-5.55%	-9.21%	-11.29%	-12.09%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	7.00%	3.69%	4.84%	6.49%	5.92%	2.42%	-2.53%	-2.33%	-3.95%	-8.84%	-10.94%
Return on Assets (ROA)	9.99%	4.40%	8.00%	8.78%	10.09%	5.01%	1.25%	1.69%	-1.22%	-7.04%	-9.77%
Return on Common Equity (ROCE)	12.06%	11.97%	12.08%	9.72%	7.15%	2.68%	-1.74%	-5.55%	-9.21%	-11.29%	-12.09%
Return on Equity Simple (ROE_SIMPLE)	10.82%	0.00%	10.55%	8.64%	6.41%	0.00%	-1.62%	-5.24%	-8.85%	0.00%	-11.83%
Net Operating Profit after Tax (NOPAT)	24	8.64	12	16	17	3.84	-4.47	-7.52	-5.96	-13	-14
NOPAT Margin	10.26%	4.12%	6.48%	8.89%	10.23%	2.54%	-3.25%	-5.93%	-5.16%	-12.24%	-14.69%
Net Nonoperating Expense Percent (NNEP)	1.20%	0.61%	1.33%	1.08%	1.33%	1.22%	1.12%	1.77%	0.56%	-0.21%	-0.75%
Return On Investment Capital (ROIC_SIMPLE)	2.65%	1.05%	-	-	-	0.59%	-	-	-	-2.34%	-
Cost of Revenue to Revenue	28.88%	28.12%	27.09%	26.55%	26.97%	26.87%	26.34%	26.64%	27.23%	26.75%	27.38%
SG&A Expenses to Revenue	18.83%	23.76%	19.93%	20.72%	20.96%	24.43%	24.27%	25.41%	26.15%	30.35%	31.47%
R&D to Revenue	30.51%	31.68%	32.65%	30.92%	30.37%	33.29%	36.55%	37.80%	39.64%	42.83%	43.70%
Operating Expenses to Revenue	60.89%	65.26%	65.86%	62.96%	63.22%	69.95%	77.05%	77.20%	80.14%	90.74%	93.61%
Earnings before Interest and Taxes (EBIT)	25	12	14	18	16	5.85	-5.69	-5.13	-8.34	-17	-21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	15	17	20	18	7.89	-4.04	-3.50	-6.58	-16	-19
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	15.72	17.30	14.93	11.73	13.30	14.54	11.21	9.84	10.25	5.27	7.07
Price to Tangible Book Value (P/TBV)	16.25	17.96	15.54	12.12	13.74	15.00	11.54	10.08	10.48	5.40	7.16
Price to Revenue (P/Rev)	17.32	19.07	17.81	14.18	16.22	17.95	14.24	13.26	14.34	7.73	11.14
Price to Earnings (P/E)	145.21	161.01	141.49	135.86	207.38	593.19	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.69%	0.62%	0.71%	0.74%	0.48%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	15.98	17.76	16.45	12.78	14.80	16.54	12.79	11.73	12.76	6.09	9.37
Enterprise Value to EBITDA (EV/EBITDA)	162.79	190.03	179.93	193.17	472.81	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	189.62	222.87	210.82	238.76	795.85	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	214.18	245.14	232.26	252.20	749.14	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	42.15	46.53	45.13	34.85	41.58	57.18	53.33	59.55	82.28	41.92	74.73
Enterprise Value to Free Cash Flow (EV/FCFF)	99.23	117.08	150.12	113.92	158.97	626.33	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.19	-1.16	-1.14	-1.15	-1.15	-1.13	-1.13	-1.13	-1.12	-1.10	-1.10
Leverage Ratio	1.54	1.52	1.45	1.45	1.46	1.42	1.38	1.37	1.36	1.34	1.27
Compound Leverage Factor	2.19	2.92	2.61	2.31	2.38	3.68	-0.71	-0.64	0.44	1.01	1.14
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	17.75	19.03	19.70	15.66	16.97	20.20	17.13	15.71	16.32	9.16	13.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.68	2.61	3.09	3.28	3.22	3.24	3.49	3.62	3.65	3.84	4.29
Quick Ratio	2.45	2.38	2.85	3.04	2.98	3.02	3.25	3.37	3.42	3.60	4.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	94	68	39	55	60	30	16	12	13	13	13
Operating Cash Flow to CapEx	8,069.60%	4,250.08%	1,770.52%	1,121.48%	5,906.22%	5,323.92%	4,960.47%	4,494.20%	5,095.35%	3,975.34%	421.31%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.66	0.66	0.64	0.63	0.62	0.61	0.58	0.55	0.52	0.51
Accounts Receivable Turnover	8.51	6.87	8.84	9.68	9.04	7.83	10.53	10.84	9.96	9.25	13.30
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	50.12	48.68	43.77	41.05	44.76	42.90	38.41	34.13	34.98	34.89	31.95
Accounts Payable Turnover	87.06	46.14	58.26	59.32	86.29	78.42	42.57	62.67	72.86	22.11	15.18
Days Sales Outstanding (DSO)	42.88	53.16	41.27	37.72	40.36	46.63	34.66	33.67	36.63	39.46	27.45
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	4.19	7.91	6.27	6.15	4.23	4.65	8.57	5.82	5.01	16.51	24.05
Cash Conversion Cycle (CCC)	38.69	45.25	35.01	31.56	36.13	41.98	26.08	27.84	31.62	22.95	3.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-189	-151	-114	-121	-119	-92	-87	-82	-76	-66	-66
Invested Capital Turnover	-5.28	-6.14	-6.88	-6.23	-5.99	-6.71	-6.32	-6.09	-6.10	-6.91	-6.46
Increase / (Decrease) in Invested Capital	-70	-59	-27	-39	-43	-26	-21	-19	-19	-25	-27
Enterprise Value (EV)	12,967	13,285	11,343	8,110	8,628	8,783	6,188	5,189	5,153	2,249	3,175
Market Capitalization	14,050	14,261	12,279	8,998	9,458	9,531	6,890	5,868	5,794	2,857	3,775
Book Value per Share	$19.76	$18.23	$18.89	$17.79	$16.58	$15.60	$14.80	$14.53	$13.91	$13.49	$13.47
Tangible Book Value per Share	$19.11	$17.55	$18.15	$17.21	$16.06	$15.12	$14.37	$14.18	$13.60	$13.18	$13.29
Total Capital	894	825	822	767	711	656	615	596	565	542	534
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,083	-976	-936	-888	-830	-748	-702	-679	-641	-608	-600
Capital Expenditures (CapEx)	1.31	1.96	3.18	5.56	1.41	0.92	0.76	0.83	0.58	0.29	2.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-234	-198	-164	-164	-156	-127	-118	-111	-103	-93	-87
Debt-free Net Working Capital (DFNWC)	765	679	716	724	674	620	584	568	538	515	513
Net Working Capital (NWC)	765	679	716	724	674	620	584	568	538	515	513
Net Nonoperating Expense (NNE)	-11	-5.27	-11	-8.49	-9.81	-8.28	-7.28	-11	-3.38	1.22	4.33
Net Nonoperating Obligations (NNO)	-1,083	-976	-936	-888	-830	-748	-702	-679	-641	-608	-600
Total Depreciation and Amortization (D&A)	3.04	3.12	2.88	2.24	2.07	2.04	1.66	1.63	1.76	1.44	1.48
Debt-free, Cash-free Net Working Capital to Revenue	-28.86%	-26.51%	-23.85%	-25.91%	-26.79%	-23.95%	-24.29%	-25.05%	-25.42%	-25.11%	-25.77%
Debt-free Net Working Capital to Revenue	94.32%	90.82%	103.89%	114.08%	115.53%	116.82%	120.71%	128.36%	133.29%	139.49%	151.38%
Net Working Capital to Revenue	94.32%	90.82%	103.89%	114.08%	115.53%	116.82%	120.71%	128.36%	133.29%	139.49%	151.38%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.78	$0.32	$0.53	$0.56	$0.63	$0.29	$0.07	$0.09	($0.06)	($0.36)	($0.46)
Adjusted Weighted Average Basic Shares Outstanding	45.45M	45.24M	43.98M	43.54M	43.12M	42.88M	42.01M	41.54M	41.05M	40.64M	40.17M
Adjusted Diluted Earnings per Share	$0.72	$0.31	$0.49	$0.51	$0.57	$0.27	$0.06	$0.08	($0.06)	($0.36)	($0.46)
Adjusted Weighted Average Diluted Shares Outstanding	45.45M	45.24M	43.98M	43.54M	43.12M	42.88M	42.01M	41.54M	41.05M	40.64M	40.17M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.45M	45.24M	43.98M	43.54M	43.12M	42.88M	42.01M	41.54M	41.05M	40.64M	40.17M
Normalized Net Operating Profit after Tax (NOPAT)	17	8.64	12	16	12	3.84	-4.47	-3.41	-5.96	-13	-14
Normalized NOPAT Margin	7.16%	4.12%	6.48%	8.89%	6.87%	2.54%	-3.25%	-2.68%	-5.16%	-12.24%	-14.69%
Pre Tax Income Margin	15.17%	10.67%	13.18%	16.10%	15.43%	10.02%	2.13%	1.90%	-2.33%	-12.73%	-19.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Duolingo's Financials

When does Duolingo's fiscal year end?

According to the most recent income statement we have on file, Duolingo's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Duolingo's net income changed over the last 4 years?

Duolingo's net income appears to be on a downward trend, with a most recent value of $88.57 million in 2024, falling from -$15.78 million in 2020. The previous period was $16.07 million in 2023. Find out what analysts predict for Duolingo in the coming months.

What is Duolingo's operating income?

Duolingo's total operating income in 2024 was $62.60 million, based on the following breakdown:

Total Gross Profit: $544.38 million
Total Operating Expenses: $481.78 million

How has Duolingo revenue changed over the last 4 years?

Over the last 4 years, Duolingo's total revenue changed from $161.70 million in 2020 to $748.02 million in 2024, a change of 362.6%.

How much debt does Duolingo have?

Duolingo's total liabilities were at $477.18 million at the end of 2024, a 59.9% increase from 2023, and a 546.4% increase since 2020.

How much cash does Duolingo have?

In the past 4 years, Duolingo's cash and equivalents has ranged from $120.49 million in 2020 to $785.79 million in 2024, and is currently $785.79 million as of their latest financial filing in 2024.

How has Duolingo's book value per share changed over the last 4 years?

Over the last 4 years, Duolingo's book value per share changed from -15.80 in 2020 to 18.23 in 2024, a change of -215.3%.

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This page (NASDAQ:DUOL) was last updated on 5/21/2025 by MarketBeat.com Staff

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Duolingo (DUOL) Financials

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