DUOL - NASDAQ

Duolingo, Inc.

Duolingo, Inc.

DUOL·NASDAQ

$107.40

+2.3%
TechnologySoftware - Application

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.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$5.00B
EPS9.0500
P/E Ratio11.87
Earnings Date08/05/2026
387.82M
Operating Cash Flow
36%
3Y+623.0%
5Y+2090.0%
10Y+17922.0%
-107.68M
Investing Cash Flow
-50%
3Y+660.0%
5Y+2583.0%
10Y-4529.0%
-29.55M
Financing Cash Flow
-2%
3Y-300.0%
5Y-163.0%
10Y-195.0%
DUOL

Duolingo, Inc. Cash Conversion Engine

DUOL · NASDAQ
Net Income414.06M
Depreciation & Amortization14.39M
Stock-Based Compensation137.44M
Change in Working Capital48.97M
Others-1.85M
Capital Expenditures-18.10M
Free Cash Flow369.73M

Cash Flow Quality Analysis

FCF Conversion Rate

89.3%

Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.

CapEx Intensity

4.7%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+35.2%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

+$48.97M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

Duolingo, Inc. Cash Flow Statement

DUOL • NASDAQ

Duolingo, Inc. Cash Flow StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
OPERATING ACTIVITIES
Net Income
414.1M
88.6M
16.1M
-59.6M
-60.1M
-15.8M
-13.6M
Depreciation & Amortization
14.4M
10.9M
7.1M
4.9M
2.7M
2.3M
1.3M
Change in Deferred Taxes
-225.2M
0.0
0.0
0.0
0.0
0.0
0.0
Stock-Based Compensation
137.4M
110.5M
95.2M
73.8M
40.8M
17M
3.7M
Other Non-Cash Items
-1.9M
-313K
333K
0.0
0.0
0.0
1.2M
Cash Taxes Paid
(0.0)
(7.6M)
(2.3M)
(615K)
(132K)
(0.0)
(0.0)
Change in Working Capital
49M
75.9M
34.9M
34.5M
25.8M
14.2M
9.5M
Cash from Operating Activities
387.8M
285.5M
153.6M
53.7M
9.2M
17.7M
2.2M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment
(0.0)
-12.1M
-3.2M
-5.6M
-3.6M
-3.4M
-3.8M
Acquisitions, Net
(0.0)
-6.6M
(0.0)
-4.1M
(0.0)
(0.0)
(0.0)
Purchase of Investments
(0.0)
-193.3M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
Sale/Maturity of Investments
0.0
3.7M
0.0
0.0
0.0
0.0
7.7M
Other Investing Items
-107.7M
-9M
-10.4M
-4.6M
-2.6M
-638K
-1.5M
Cash from Investing Activities
-107.7M
-217.3M
-13.6M
-14.2M
-6.2M
-4M
(2.4M)
FINANCING ACTIVITIES
Net Issuance of Common Stock
12.6M
19.4M
0.0
0.0
425.3M
0.0
-168K
Share Repurchases
(0.0)
(0.0)
(0.0)
(0.0)
-868K
(0.0)
-168K
Other Financing Items
-42.1M
-49.4M
2.1M
14.8M
5.1M
2M
1.3M
Cash from Financing Activities
-29.5M
-30M
2.1M
14.8M
430.5M
47M
31M
CASH FLOW SUMMARY
Net Change in Cash
250.6M
38.2M
142.2M
54.3M
433.4M
60.6M
35.6M
Cash at Beginning of Period
788.5M
750.3M
608.2M
553.9M
120.5M
59.8M
24.3M
Cash at End of Period
1B
788.5M
750.3M
608.2M
553.9M
120.5M
59.8M
Free Cash Flow
369.7M
273.4M
139.9M
43.5M
3M
13.7M
-3.1M

SEC Filings

DUOL - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
10-Q

10-Q 2026 Q1

Q1

May 05, 2026
March 31, 2026
2026
View Filing
8-K

8-K 2026

N/A

May 04, 2026
May 04, 2026
2026
View Filing
DEF 14A

DEF 14A 2026

N/A

April 17, 2026
April 17, 2026
2026
View Filing
8-K/A

8-K/A 2026 (Amended)

N/A

February 27, 2026
February 26, 2026
2026
View Filing
10-K

10-K 2025 FY

FY

February 27, 2026
December 31, 2025
2025
View Filing
8-K

8-K 2026

N/A

February 26, 2026
February 26, 2026
2026
View Filing
8-K

8-K 2026

N/A

January 12, 2026
January 08, 2026
2026
View Filing
10-Q

10-Q 2025 Q3

Q3

November 06, 2025
September 30, 2025
2025
View Filing
8-K

8-K 2025

N/A

November 05, 2025
November 05, 2025
2025
View Filing
10-Q

10-Q 2025 Q2

Q2

August 07, 2025
June 30, 2025
2025
View Filing
Showing 1 to 10 of 64 filings

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2

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3

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4

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5

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6

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