Duolingo, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $1.0B | $748.0M | $531.1M | $369.5M | $250.8M |
| Gross profit | $749.5M | $544.4M | $389.0M | $270.1M | $181.6M |
| Operating income | $135.6M | $62.6M | -$13.3M | -$65.2M | -$60.0M |
| Operating expenses | $613.9M | $481.8M | $402.3M | $335.3M | $241.6M |
| Cost of revenue | $288.1M | $203.6M | $142.1M | $99.4M | $69.2M |
| Cash from operations | $387.8M | $285.5M | $153.6M | $53.7M | $9.2M |
| Capital expenditure | $18.1M | $12.1M | $3.2M | $5.6M | $3.6M |
| Free cash flow | $369.7M | $273.4M | $150.4M | $48.1M | $5.6M |
| Share repurchases | — | — | $0 | $0 | $868,000 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.0B | $1.3B | $954.0M | $747.3M | $661.3M |
| Total liabilities | $645.2M | $477.2M | $298.5M | $205.3M | $148.3M |
Shares outstanding 46.6M · Free float 81.0%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.