Duolingo, Inc. logo DUOL - Duolingo, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 0
BUY 8
HOLD 13
SELL 1
STRONG
SELL 0
| PRICE TARGET: $136.17 DETAILS
HIGH: $245.00
LOW: $95.00
MEDIAN: $110.00
CONSENSUS: $136.17
UPSIDE: 17.36%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019
Revenue
Revenue 1,037.6 748.0 531.1 369.5 250.8 161.7 70.8
Cost of Revenue 293.9 209.2 147.2 103.4 69.9 46.5 21.4
Gross Profit 743.7 538.8 383.9 266.1 180.9 115.2 49.4
Operating Expenses
R&D Expenses 303.0 232.9 192.7 148.9 103.8 53.0 31.6
SG&A Expenses 299.5 242.3 204.1 181.7 133.2 77.9 30.7
Other Expenses 0 0 0 0 0 0 0
Operating Expenses 602.5 475.3 396.9 330.6 237.0 130.9 62.3
Operating Income
Operating Income 141.2 63.6 (12.9) (64.6) (56.1) (15.7) (12.9)
Interest Expense 0 0 0 0 0 0 0
Interest Income 45.2 42.7 31.1 7.2 0 0 0
Profitability
EBITDA 196.8 113.2 24.9 (53.8) (57.2) (13.5) (11.6)
EBIT 182.4 102.3 17.8 (58.6) (60.0) (15.7) (12.9)
Income Before Tax 182.4 102.3 17.8 (58.6) (60.0) (15.7) (13.6)
Income Tax Expense (231.7) 13.7 1.7 0.9 0.2 0.1 0
Net Income 414.1 88.6 16.1 (59.6) (60.1) (15.8) (13.6)
Per Share Data
EPS (Basic) 9.05 2.04 0.35 -1.51 -1.57 -0.44 -0.38
EPS (Diluted) 8.57 1.88 0.35 -1.51 -1.57 -0.44 -0.38
Shares Outstanding 45.8 43.5 46.5 39.5 38.3 35.9 35.9
Metric 2025 2024 2023 2022 2021 2020 2019
Current Assets
Cash & Cash Equivalents 1,036.4 785.8 747.6 608.2 553.9 120.5 59.8
Short-Term Investments 104.1 91.9 0 0 0 0 0
Net Receivables 176.9 128.9 142.9 81.8 57.4 34.0 16.9
Inventory 0 0 0 0 0 0 0
Other Current Assets 119.2 95.0 7.3 7.2 8.0 3.9 2.1
Total Current Assets 1,436.6 1,101.6 897.8 697.2 619.3 158.4 78.9
Non-Current Assets
Property, Plant & Equipment 116.7 66.4 30.9 35.5 36.6 14.5 13.8
Goodwill 35.3 10.5 4.0 4.0 0 0 0
Intangible Assets 28.3 19.9 16.0 8.5 4.6 2.3 1.8
Long-Term Investments 135.1 98.3 0 0 0 0 0
Other Non-Current Assets 12.8 4.3 4.5 1.5 0.9 0.6 0.5
Total Non-Current Assets 555.6 200.1 56.2 50.2 42.0 17.4 16.1
Total Assets 1,992.2 1,301.7 954.0 747.3 661.3 175.7 95.1
Current Liabilities
Account Payables 8.0 6.4 2.4 1.2 7.8 2.2 3.8
Short-Term Debt 0 2.6 0 0 3.3 1.1 1.0
Deferred Revenue 496.2 372.9 249.2 157.6 98.3 54.8 26.3
Other Current Liabilities 0 33.8 (3.9) 9.1 7.5 6.6 0.2
Total Current Liabilities 551.1 422.2 277.4 181.8 119.1 65.7 32.1
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 0
Deferred Tax Liabilities 0.2 0.3 0 0 0 0 0
Other Non-Current Liabilities 0 0 0 0 0 0 0
Total Non-Current Liabilities 94.0 54.9 21.1 23.5 29.1 8.1 9.2
Total Liabilities 645.2 477.2 298.5 205.3 148.3 73.8 41.3
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings 288.2 (125.8) (214.4) (230.5) (170.9) (110.8) (95.0)
Accumulated Other Comprehensive Income 0 0 0 0 0 0 0
Total Stockholders' Equity 1,347.0 824.5 655.5 542.1 513.1 101.9 53.7
Total Liabilities & Equity 1,992.2 1,301.7 954.0 747.3 661.3 175.7 95.1
Debt Metrics
Total Debt 93.8 57.2 25.0 28.4 32.5 9.2 10.2
Net Debt (942.6) (728.6) (722.6) (579.8) (521.5) (111.2) (49.6)
Metric 2025 2024 2023 2022 2021 2020 2019
Operating Activities
Net Income 414.1 88.6 16.1 (59.6) (60.1) (15.8) (13.6)
Depreciation & Amortization 14.4 10.9 7.1 4.9 2.7 2.3 1.3
Stock-Based Compensation 137.4 110.5 95.2 73.8 40.8 17.0 3.7
Change in Working Capital 49.0 75.9 34.9 34.5 25.8 14.2 9.5
Other Non-Cash Items (1.9) (0.3) 0.3 0 0 0 1.2
Operating Cash Flow 387.8 285.5 153.6 53.7 9.2 17.7 2.2
Investing Activities
Capital Expenditure (18.1) (12.1) (3.2) (5.6) (3.6) (3.4) (3.8)
Acquisitions (33.1) (6.6) 0 (4.0) 0 0 0
Purchases of Investments (162.9) (193.3) 0 0 0 0 0
Sales/Maturities of Investments 115.7 3.7 0 0 0 0 7.7
Other Investing Activities 0 0 0.1 0 0 0 0
Investing Cash Flow (107.7) (217.3) (13.6) (14.2) (6.2) (4.0) 2.4
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0
Stock Repurchased 0 0 0 0 (8.2) 0 (0.2)
Dividends Paid 0 0 0 0 0 0 0
Other Financing Activities (42.1) (49.4) (11.5) 0 0 44.9 29.8
Financing Cash Flow (29.5) (30.0) 2.1 14.8 430.5 47.0 31.0
Cash Position
Net Change in Cash 250.6 38.2 139.4 54.3 433.4 60.6 59.8
Cash at Beginning 785.8 747.6 608.2 553.9 120.5 59.8 0
Cash at End 1,036.4 785.8 747.6 608.2 553.9 120.5 59.8
Free Cash Flow 369.7 273.4 150.4 48.1 5.6 14.3 (1.6)
Key Metrics 2025 2024 2023 2022 2021 2020 2019
Income Statement
Revenue 1,037.6 748.0 531.1 369.5 250.8 161.7 70.8
Gross Profit 743.7 538.8 383.9 266.1 180.9 115.2 49.4
Operating Income 141.2 63.6 (12.9) (64.6) (56.1) (15.7) (12.9)
Net Income 414.1 88.6 16.1 (59.6) (60.1) (15.8) (13.6)
EPS (Diluted) 8.57 1.88 0.35 -1.51 -1.57 -0.44 -0.38
Balance Sheet
Cash & Equivalents 1,036.4 785.8 747.6 608.2 553.9 120.5 59.8
Total Assets 1,992.2 1,301.7 954.0 747.3 661.3 175.7 95.1
Total Debt 93.8 57.2 25.0 28.4 32.5 9.2 10.2
Stockholders' Equity 1,347.0 824.5 655.5 542.1 513.1 101.9 53.7
Cash Flow
Operating Cash Flow 387.8 285.5 153.6 53.7 9.2 17.7 2.2
Capital Expenditure (18.1) (12.1) (3.2) (5.6) (3.6) (3.4) (3.8)
Free Cash Flow 369.7 273.4 150.4 48.1 5.6 14.3 (1.6)