← Duolingo, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Net income | ($15.8m) |
($60.1m)
-281.18%
|
($59.6m)
+0.93%
|
$16.1m
+126.97%
|
$88.6m
+451.28%
|
$414.1m
+367.48%
|
$410.8m
-0.80%
|
|
| Depreciation and amortization | $2.3m | $2.7m | $4.9m | $7.1m | $10.9m | $14.4m | $15.8m | |
| Deferred income taxes | — | — | — | $0 | $0 | ($225.2m) | ($203.9m) | |
| Stock-based compensation expense | $17.0m | $40.8m | $73.8m | $95.2m | $110.5m | $137.4m | $144.7m | |
| Taxes paid related to net-share settlement of share-based compensation awards | $0 | $0 | $0 | ($11.5m) | ($49.4m) | ($41.6m) | — | |
| Accounts receivable | ($10.4m) | ($12.7m) | ($13.6m) | ($42.2m) | ($39.9m) | ($33.9m) | ($18.1m) | |
| Accounts payable | ($1.6m) | $5.6m | ($6.7m) | $1.3m | $3.9m | $1.6m | $7.2m | |
| Deferred revenue | $28.5m | $43.5m | $59.3m | $91.6m | $123.7m | $123.3m | — | |
| Accrued expenses and other current liabilities | $6.2m | $3.7m | $8.7m | $3.4m | $16.9m | $255k | — | |
| Other | — | — | — | $333k | $238k | $0 | — | |
| Prepaid expenses and other current assets | ($1.7m) | ($4.0m) | ($1.4m) | ($48k) | ($7.6m) | ($15.8m) | — | |
| Landlord incentive included in Other assets | $0 | $0 | $2.1m | $0 | $0 | $6.8m | — | |
| Net cash provided by operating activities | $17.7m |
$9.2m
-48.22%
|
$53.7m
+485.13%
|
$153.6m
+186.29%
|
$285.5m
+85.86%
|
$387.8m
+35.83%
|
$430.5m
+11.02%
|
|
| Purchase of property and equipment | ($3.4m) | ($3.6m) | ($5.6m) | ($3.2m) | ($12.1m) | ($18.1m) | ($33.0m) | |
| Property and equipment included in Current liabilities | $0 | $230k | $166k | $165k | $0 | $4.5m | — | |
| Accretion on marketable securities, net | — | — | $0 | $0 | ($551k) | ($1.9m) | — | |
| Purchases of investments | — | — | $0 | $0 | ($193.3m) | ($162.9m) | — | |
| Maturities and paydowns of investments | — | — | $0 | $0 | $3.7m | $115.7m | — | |
| Acquisitions of companies, net of $0 and $5 cash acquired, respectively | $0 | $0 | $4.0m | $0 | ($6.6m) | ($33.1m) | — | |
| Net cash used for investing activities | ($4.0m) | ($6.2m) | ($14.2m) | ($13.6m) | ($217.3m) | ($107.7m) | — | |
| Net cash used for financing activities | $47.0m |
$430.5m
+816.81%
|
$14.8m
-96.57%
|
$2.1m
-85.55%
|
($30.0m)
-1505.25%
|
($29.5m)
+1.52%
|
— | |
| Cash, cash equivalents and restricted cash - Beginning of period | $120.5m | $553.9m | $608.2m | $750.3m | $788.5m | $1.0b | — | |
| Net increase in cash, cash equivalents and restricted cash | $60.6m | $433.4m | $54.3m | $142.2m | $38.2m | $250.6m | — | |
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Deferred cost of revenues | ($6.7m) |
($10.6m)
-59.84%
|
($10.8m)
-1.77%
|
($18.9m)
-74.55%
|
($26.2m)
-38.86%
|
($22.5m)
+14.22%
|
— | |
| Noncurrent assets and liabilities | ($76k) | $365k | ($1.0m) | ($264k) | $5.2m | ($4.0m) | — | |
| Capitalized software expense and purchases of intangible assets | ($638k) | ($2.6m) | ($4.6m) | ($10.5m) | ($9.0m) | ($9.3m) | — | |
| Proceeds from sale of capitalized software | — | $0 | $0 | $100k | $0 | $0 | — | |
| Proceeds from exercise of stock options | $2.0m | $12.5m | $14.8m | $13.6m | $19.4m | $12.6m | — | |
| Payment of earn-out related to a previous acquisition | — | — | — | $0 | $0 | ($500k) | — | |
| Cash paid for income taxes | $0 | $132k | $615k | $2.3m | $7.6m | $14.4m | — | |
| Right of use assets obtained in exchange for new operating lease liabilities | — | — | $909k | $0 | $33.0m | $39.2m | — | |
| Right of use assets disposed of or adjusted for modifying operating leases liabilities | — | — | $0 | $2.0m | $1.3m | $0 | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.