| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Net income | 372,111 | 79,916 | 35,135 | 74,667 |
| Deferred income taxes | -239,486 | - | - | - |
| Stock-based compensation expense | 101,175 | 65,610 | 31,018 | 80,690 |
| Depreciation and amortization | 10,583 | 7,030 | 3,590 | 7,193 |
| Accretion on marketable securities, net | 1,458 | 1,017 | 550 | 12 |
| Gain on sale of capitalized software | - | - | - | 0 |
| Loss on disposal of leasehold improvements | - | - | - | 0 |
| Deferred revenue | 68,844 | 58,293 | 42,139 | 61,411 |
| Accounts receivable | -4,434 | -16,004 | -14,740 | 5,209 |
| Deferred cost of revenues | 14,408 | 13,632 | 9,402 | 13,398 |
| Prepaid expenses and other current assets | 11,734 | 4,536 | 1,772 | 8,842 |
| Accounts payable | -2,813 | 593 | -3,843 | 522 |
| Accrued expenses and other current liabilities | -5,190 | -10,350 | -6,204 | 1,351 |
| Noncurrent assets and liabilities | 1,513 | 1,605 | -780 | -3,796 |
| Net cash provided by operating activities | 280,545 | 196,306 | 105,631 | 202,169 |
| Purchases of investments | 99,120 | 48,321 | 26,606 | 81,670 |
| Maturities of investments | 82,077 | 42,470 | 18,676 | - |
| Capitalized software expense and purchases of intangible assets | 6,484 | 4,463 | 1,310 | 8,545 |
| Purchase of property and equipment | 7,369 | 2,507 | 1,309 | 10,155 |
| Proceeds from sale of capitalized software | - | - | - | 0 |
| Payment of earn-out related to a previous acquisition | 500 | - | - | - |
| Acquisitions of companies, net of 0 cash acquired | 33,100 | - | - | 6,595 |
| Net cash used for investing activities | -64,496 | -12,821 | -10,549 | -106,965 |
| Proceeds from exercise of stock options | 9,702 | 6,955 | 3,123 | 11,595 |
| Taxes paid related to net-share settlement of share-based compensation awards | - | - | - | 0 |
| Net cash provided by financing activities | 9,702 | 6,955 | 3,123 | 11,595 |
| Net increase in cash, cash equivalents and restricted cash | 225,751 | 190,440 | 98,205 | 106,799 |
| Cash and cash equivalents at beginning of period | 788,526 | 788,526 | 788,526 | 750,345 |
| Cash and cash equivalents at end of period | 1,014,277 | 978,966 | 886,731 | 857,144 |
Duolingo, Inc. (DUOL)
Duolingo, Inc. (DUOL)