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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	884	785.79	747.61	608.18	553.92	120.49
Short-Term Investments	116.9	93.34	-	-	-	-
Cash & Short-Term Investments	1,001	879.13	747.61	608.18	553.92	120.49
Cash Growth	20.63%	17.59%	22.93%	9.79%	359.72%	101.34%
Receivables	114.18	128.92	88.98	46.73	33.16	20.45
Prepaid Expenses	15.02	13.37	7.28	7.23	7.97	3.86
Other Current Assets	89.56	80.16	53.93	35.04	24.22	13.59
Total Current Assets	1,220	1,102	897.8	697.18	619.27	158.38
Property, Plant & Equipment	65.53	66.44	30.9	35.48	36.58	14.5
Long-Term Investments	83.34	98.29	-	-	-	-
Goodwill	10.54	10.54	4.05	4.05	-	-
Other Intangible Assets	18.87	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	4.53	4.3	4.45	1.51	0.89	0.56
Total Assets	1,403	1,302	953.96	747.35	661.31	175.74
Accounts Payable	2.55	6.38	2.45	1.18	7.82	2.2
Accrued Expenses	30.54	33.79	20.99	12.2	5.47	4.7
Current Portion of Leases	-	2.58	3.94	4.9	3.34	1.11
Current Income Taxes Payable	6.38	6.59	0.79	1.07	0.11	0.07
Current Unearned Revenue	415.02	372.88	249.19	157.55	98.27	54.79
Other Current Liabilities	-	-	-	4.87	4.13	2.82
Total Current Liabilities	454.49	422.23	277.36	181.77	119.13	65.69
Long-Term Leases	54.53	54.66	21.09	23.5	29.12	8.13
Long-Term Deferred Tax Liabilities	0.3	0.29	-	-	-	-
Total Liabilities	509.32	477.18	298.46	205.27	148.26	73.82
Common Stock	0	0	0	0	0	0
Additional Paid-In Capital	984.53	950.39	869.92	772.56	683.97	30.09
Retained Earnings	-90.71	-125.85	-214.42	-230.49	-170.91	-110.78
Total Common Equity	893.83	824.55	655.5	542.08	513.06	-80.69
Shareholders' Equity	893.83	824.55	655.5	542.08	513.06	101.92
Total Liabilities & Equity	1,403	1,302	953.96	747.35	661.31	175.74
Total Debt	54.53	57.24	25.04	28.41	32.46	9.24
Net Cash (Debt)	946.36	821.9	722.57	579.77	521.46	111.25
Net Cash Growth	22.42%	13.75%	24.63%	11.18%	368.74%	124.17%
Net Cash Per Share	19.97	17.45	15.53	14.69	22.25	8.74
Filing Date Shares Outstanding	45.45	45.24	42.88	40.64	38.63	12.79
Total Common Shares Outstanding	45.42	44.94	42.53	40.36	38.27	12.79
Working Capital	765.17	679.36	620.44	515.42	500.14	92.69
Book Value Per Share	19.68	18.35	15.41	13.43	13.41	-6.31
Tangible Book Value	864.42	794.11	635.46	529.53	508.49	-82.99
Tangible Book Value Per Share	19.03	17.67	14.94	13.12	13.29	-6.49
Machinery	10.07	8.42	5.87	5.2	3.05	1.96
Leasehold Improvements	26.75	26.94	18.19	15.98	10.26	7.54

Updated May 1, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q