Duolingo, Inc. develops a language-learning website and mobile app in the United States and China. The company offers courses in 40 different languages, including Spanish, English, French, Japanese, German, Italian, Chinese, Portuguese, and others. It also provides a digital language proficiency assessment exam. The company was incorporated in 2011 and is headquartered in Pittsburgh, Pennsylvania.

Duolingo, Inc.

Cash and Cash Equivalents

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Property and Equipment, Net

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Capitalized Software, Net

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Goodwill

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Other Assets

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Total Liabilities

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Convertible Preferred Stock, $0.0001 Par Value

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Class a Common Stock

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Common Stock

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Total Liabilities and Stockholders' Equity

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Other Receivables

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Revenue

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Assets	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Cash and Cash Equivalents	1,011.5	976.2	884	785.8	854.4	888.2
Cash and Cash Equivalents
Short-Term Investments	109.9	121.7	115.3	91.9	26.4	—
Short-Term Investments
Total Cash and Cash Equivalents	1,121.5	1,097.9	999.3	877.6	880.8	888.2
Accounts Receivable	124.5	112.9	114.2	128.9	94.2	77.7
Accounts Receivable
Other Receivables	6.9	—	—	0	—	—
Income Tax Receivable
Total Trade Receivables	131.4	112.9	114.2	129	94.2	77.7
Other Current Assets	120.8	115.9	108.9	97.8	86.2	78.3
Deferred Cost of Revenues
Income Tax Receivable
Prepaid Expenses and Other Current Assets
Restricted Cash
Total Current Assets	1,367.1	1,324	1,219.7	1,101.6	1,058.4	1,041.6
Total Current Assets
Net Property, Plant & Equipment	103.9	100.7	65.5	66.4	68.1	68.1
Property and Equipment, Net
Operating Lease Right-of-Use Assets
Net Intangible Assets	28	19.9	18.9	19.9	21.9	20.6
Intangible Assets, Net
Capitalized Software, Net
Goodwill	33.3	10.5	10.5	10.5	10.5	4.1
Goodwill
Long-Term Investments	100.1	75.4	83.3	79.3	55.3	—
Long-Term Investments
Other Long-Term Assets	252.6	12.1	5.2	5	5.2	5.1
Restricted Cash
Deferred Tax Assets, Net
Other Assets
Total Assets	1,885.6	1,542.6	1,403.1	1,301.7	1,219.5	1,139.4
Total Assets

Liabilities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Accounts Payable	3.6	7.7	2.5	6.4	3.6	3.4
Accounts Payable
Accrued Expenses	39.2	32.5	36.9	42.9	27.9	22.8
Accrued Expenses and Other Current Liabilities
Income Tax Payable
Unearned Revenue	441.7	431.2	415	373	310.6	291.5
Deferred Revenues
Other Current Liabilities	0	0	6.4	6.5	0	0
Income Tax Payable
Total Current Liabilities	484.5	471.4	454.5	422.3	342.1	317.7
Total Current Liabilities
Leases	93.3	93.8	54.5	54.9	54.7	54.8
Long-Term Obligation Under Operating Leases
Other Long-Term Liabilities	0.3	0.3	0.3	0.3	0.3	—
Deferred Tax Liabilities, Net
Total Long-Term Liabilities	93.6	94.1	54.8	55.1	55	54.8
Total Liabilities	578.1	565.5	509.3	477.2	397.1	372.5
Total Liabilities

Equity	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Preferred Stock	—	—	—	—	—	—
Convertible Preferred Stock, $0.0001 Par Value
Common Stock	0	0	0	0	0	0
Class a Common Stock
Common Stock
Additional Paid-in Capital	1,061.3	1,023	984.5	950.4	962.2	930.1
Additional Paid-in Capital
Retained Earnings	246.3	-45.9	-90.7	-125.8	-139.8	-163.1
Retained Earnings
Total Common Shareholders' Equity	1,307.5	977	893.8	824.6	822.5	766.9
Minority Interests and Other	—	—	—	—	—	—
Convertible Preferred Stock, $0.0001 Par Value
Total Shareholders' Equity	1,307.5	977	893.8	824.6	822.5	766.9
Total Stockholders' Equity
Convertible Preferred Stock, $0.0001 Par Value
Total Liabilities and Shareholders' Equity	1,885.6	1,542.6	1,403.1	1,301.7	1,219.5	1,139.4
Total Liabilities and Stockholders' Equity