Duolingo, Inc. (DUOL)

Duolingo Balance Sheet

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	976.23	785.79	747.61	608.18	553.92	120.49
Short-Term Investments	121.65	93.34	-	-	-	-
Cash & Short-Term Investments	1,098	879.13	747.61	608.18	553.92	120.49
Cash Growth	23.60%	17.59%	22.93%	9.79%	359.72%	101.34%
Receivables	114.93	128.92	88.98	46.73	33.16	20.45
Prepaid Expenses	17.38	13.37	7.28	7.23	7.97	3.86
Other Current Assets	93.79	80.16	53.93	35.04	24.22	13.59
Total Current Assets	1,324	1,102	897.8	697.18	619.27	158.38
Property, Plant & Equipment	100.67	66.44	30.9	35.48	36.58	14.5
Long-Term Investments	75.36	98.29	-	-	-	-
Goodwill	10.54	10.54	4.05	4.05	-	-
Other Intangible Assets	19.92	19.9	16	8.5	4.57	2.3
Long-Term Deferred Tax Assets	0.68	0.68	0.77	0.63	-	-
Other Long-Term Assets	11.4	4.3	4.45	1.51	0.89	0.56
Total Assets	1,543	1,302	953.96	747.35	661.31	175.74
Accounts Payable	7.73	6.38	2.45	1.18	7.82	2.2
Accrued Expenses	29.49	33.79	20.99	12.2	5.47	4.7
Current Portion of Leases	2.96	2.58	3.94	4.9	3.34	1.11
Current Income Taxes Payable	0.02	6.59	0.79	1.07	0.11	0.07
Current Unearned Revenue	431.18	372.88	249.19	157.55	98.27	54.79
Other Current Liabilities	-	-	-	4.87	4.13	2.82
Total Current Liabilities	471.38	422.23	277.36	181.77	119.13	65.69
Long-Term Leases	93.84	54.66	21.09	23.5	29.12	8.13
Long-Term Deferred Tax Liabilities	0.3	0.29	-	-	-	-
Total Liabilities	565.53	477.18	298.46	205.27	148.26	73.82
Common Stock	0	0	0	0	0	0
Additional Paid-In Capital	1,023	950.39	869.92	772.56	683.97	30.09
Retained Earnings	-45.93	-125.85	-214.42	-230.49	-170.91	-110.78
Total Common Equity	977.03	824.55	655.5	542.08	513.06	-80.69
Shareholders' Equity	977.03	824.55	655.5	542.08	513.06	101.92
Total Liabilities & Equity	1,543	1,302	953.96	747.35	661.31	175.74
Total Debt	96.81	57.24	25.04	28.41	32.46	9.24
Net Cash (Debt)	1,001	821.9	722.57	579.77	521.46	111.25
Net Cash Growth	20.46%	13.75%	24.63%	11.18%	368.74%	124.17%
Net Cash Per Share	20.98	17.45	15.53	14.69	22.25	8.74
Filing Date Shares Outstanding	45.82	45.24	42.88	40.64	38.63	12.79
Total Common Shares Outstanding	45.79	44.94	42.53	40.36	38.27	12.79
Working Capital	852.61	679.36	620.44	515.42	500.14	92.69
Book Value Per Share	21.34	18.35	15.41	13.43	13.41	-6.31
Tangible Book Value	946.57	794.11	635.46	529.53	508.49	-82.99
Tangible Book Value Per Share	20.67	17.67	14.94	13.12	13.29	-6.49
Machinery	11.77	8.42	5.87	5.2	3.05	1.96
Leasehold Improvements	26.92	26.94	18.19	15.98	10.26	7.54

Updated May 2, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q