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.

Revenues

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Revenues Common Size

Cost of Revenues

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Gross Profit

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Research and Development

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Sales and Marketing

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General and Administrative

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Impairment of Capitalized Software

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Impairment of Capitalized Software Common Size

Total Operating Expenses

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Income from Operations

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Income from Operations Common Size

Other Income, Net of Other Expenses

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Other Income

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Other Expense

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Other Expense Income, Net

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Other Expense Income, Net Common Size

Income Before Interest Income and Income Taxes

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Interest Income

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Income Before Income Taxes

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Provision for Income Taxes

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Net Income and Comprehensive Income

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Basic and Diluted Net Loss per Share Attributable to Common Shareholders

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Basic and Diluted Net Loss per Share Attributable to Common Shareholders Common Size

Net Income per Share Attributable to Class a and Class B Common Stockholders, Basic

Net Income per Share Attributable to Class a and Class B Common Stockholders, Basic %Chg

Net Income per Share Attributable to Class a and Class B Common Stockholders, Basic Common Size

Net Income per Share Attributable to Class a and Class B Common Stockholders, Diluted

Net Income per Share Attributable to Class a and Class B Common Stockholders, Diluted %Chg

Net Income per Share Attributable to Class a and Class B Common Stockholders, Diluted Common Size

Total Revenues

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Total Revenues Common Size

Cost of Sales

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Cost of Sales Common Size

Gross Profit Margin

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Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

Selling, General & Administrative Expenses Common Size

Research & Development Expenses

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Other Operating Expenses

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Operating Profit

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Operating Margin

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Interest and Investment Income

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Non-Operating Income

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Total Non-Operating Income

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Income Before Provision for Income Taxes

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Consolidated Net Income

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Net Income Attributable to Common Shareholders

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Basic EPS

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Diluted EPS

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Basic Weighted Average Shares Outstanding

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Total Shares Outstanding

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Diluted Weighted Average Shares Outstanding

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EBITDA

Revenue

EBIT

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Net Income

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	964.3	885.2	811.2	748	689.5	634.5
Total Revenues %Chg	39.9%	39.5%	39.1%	40.8%	42.5%	43.4%
Revenues
Cost of Sales	270.1	247.4	225.1	203.6	185.3	169.4
Cost of Revenues
Gross Profit	694.2	637.7	586.1	544.4	504.2	465.1
Gross Profit
Gross Profit Margin	72%	72%	72.3%	72.8%	73.1%	73.3%
Selling, General & Administrative Expenses	295.1	280	261.6	246.5	231.5	223.3
Sales and Marketing
General and Administrative
Research & Development Expenses	293.2	273.3	254.8	235.3	219.2	206.6
Research and Development
Other Operating Expenses	—	—	—	—	—	—
Impairment of Capitalized Software
Operating Profit	106	84.4	69.8	62.6	53.5	35.3
Income from Operations
Operating Margin	11%	9.5%	8.6%	8.4%	7.8%	5.6%
Interest and Investment Income	44.3	43.8	43.1	42.7	41.3	38.7
Interest Income
Non-Operating Income	-0.1	1	-1.4	-3	0.3	-1.3
Other Expense Income, Net
Total Non-Operating Income	44.3	44.8	41.7	39.7	41.6	37.4
Income Before Provision for Income Taxes	150.3	129.2	111.5	102.3	95.1	72.6
Income Before Income Taxes
Provision for Income Taxes	-235.8	12	14.7	13.7	8.3	6.4
Provision for Income Taxes
Consolidated Net Income	386	117.2	96.8	88.6	86.8	66.2
Net Income Attributable to Common Shareholders	386	117.2	96.8	88.6	86.8	66.2
Basic EPS	8.4	2.6	2.2	2	2	1.6
Diluted EPS	7.9	2.4	2	1.9	1.8	1.4
Basic Weighted Average Shares Outstanding	45.2	44.7	44.1	43.5	43	42.5
Total Shares Outstanding	46.1	45.8	45.4	44.9	43.9	43.5
Diluted Weighted Average Shares Outstanding	48.1	47.8	47.5	47.1	48.4	48.1
EBITDA	120.2	98	82.1	73.4	62.7	43.3
Effective Tax Rate	-156.9%	9.3%	13.2%	13.4%	8.7%	8.8%