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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Convertible Preferred Stock, $0.0001 Par Value

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Common Stock

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Other Receivables

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Assets	Jun '25	Dec '24	Jun '24
Cash and Cash Equivalents	976.2	785.8	888.2
Cash and Cash Equivalents
Short-Term Investments	121.7	91.9	—
Short-Term Investments
Total Cash and Cash Equivalents	1,097.9	877.6	888.2
Accounts Receivable	112.9	128.9	77.7
Accounts Receivable
Other Receivables	—	0	—
Income Tax Receivable
Total Trade Receivables	112.9	129	77.7
Other Current Assets	115.9	97.8	78.3
Deferred Cost of Revenues
Income Tax Receivable
Prepaid Expenses and Other Current Assets
Restricted Cash
Total Current Assets	1,324	1,101.6	1,041.6
Total Current Assets
Net Property, Plant & Equipment	100.7	66.4	68.1
Property and Equipment, Net
Operating Lease Right-of-Use Assets
Net Intangible Assets	19.9	19.9	20.6
Intangible Assets, Net
Capitalized Software, Net
Goodwill	10.5	10.5	4.1
Goodwill
Long-Term Investments	75.4	79.3	—
Long-Term Investments
Other Long-Term Assets	12.1	5	5.1
Restricted Cash
Deferred Tax Assets, Net
Other Assets
Total Assets	1,542.6	1,301.7	1,139.4
Total Assets

Liabilities	Jun '25	Dec '24	Jun '24
Accounts Payable	7.7	6.4	3.4
Accounts Payable
Accrued Expenses	32.5	42.9	22.8
Accrued Expenses and Other Current Liabilities
Income Tax Payable
Unearned Revenue	431.2	373	291.5
Deferred Revenues
Other Current Liabilities	0	6.5	0
Income Tax Payable
Total Current Liabilities	471.4	422.3	317.7
Total Current Liabilities
Leases	93.8	54.9	54.8
Long-Term Obligation Under Operating Leases
Other Long-Term Liabilities	0.3	0.3	—
Deferred Tax Liabilities, Net
Total Long-Term Liabilities	94.1	55.1	54.8
Total Liabilities	565.5	477.2	372.5
Total Liabilities

Equity	Jun '25	Dec '24	Jun '24
Preferred Stock	—	—	—
Convertible Preferred Stock, $0.0001 Par Value
Common Stock	0	0	0
Class a Common Stock
Common Stock
Additional Paid-in Capital	1,023	950.4	930.1
Additional Paid-in Capital
Retained Earnings	-45.9	-125.8	-163.1
Retained Earnings
Total Common Shareholders' Equity	977	824.6	766.9
Minority Interests and Other	—	—	—
Convertible Preferred Stock, $0.0001 Par Value
Total Shareholders' Equity	977	824.6	766.9
Total Stockholders' Equity
Convertible Preferred Stock, $0.0001 Par Value
Total Liabilities and Shareholders' Equity	1,542.6	1,301.7	1,139.4
Total Liabilities and Stockholders' Equity