| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 43,460 | 41,954 | 292,195 | 44,781 |
| Deferred income taxes | 9,496 | 14,301 | -239,486 | NaN |
| Stock-based compensation expense | 34,647 | 36,262 | 35,565 | 34,592 |
| Depreciation and amortization | 4,191 | 3,808 | 3,553 | 3,440 |
| Accretion on marketable securities, net | 321 | 393 | 441 | 467 |
| Other | NaN | 0 | NaN | NaN |
| Deferred revenue | 17,051 | 54,477 | 10,551 | 16,154 |
| Accounts receivable | -37,741 | 38,338 | 11,570 | -1,264 |
| Deferred cost of revenues | 1,850 | 8,093 | 776 | 4,230 |
| Prepaid expenses and other current assets | -5,899 | 4,057 | 7,198 | 2,764 |
| Accounts payable | -2,405 | 4,430 | -3,406 | 4,436 |
| Accrued expenses and other current liabilities | 5,964 | 5,445 | 5,160 | -4,146 |
| Noncurrent assets and liabilities | 3,102 | 2,518 | -92 | 2,385 |
| Net cash provided by operating activities | 150,771 | 107,278 | 84,239 | 90,675 |
| Purchases of investments | 56,155 | 63,806 | 50,799 | 21,715 |
| Maturities and paydowns of investments | 42,391 | 33,670 | 39,607 | 23,794 |
| Capitalized software expense and purchases of intangible assets | 2,853 | 2,819 | 2,021 | 3,153 |
| Purchase of property and equipment | 132 | 10,727 | 4,862 | 1,198 |
| Payment of earn-out related to a previous acquisition | NaN | NaN | 500 | NaN |
| Proceeds from sale of capitalized software | NaN | 0 | NaN | NaN |
| Acquisitions of companies, net of 0 and 5 cash acquired, respectively | NaN | 0 | 33,100 | NaN |
| Net cash used for investing activities | -16,749 | -43,182 | -51,675 | -2,272 |
| Proceeds from exercise of stock options | 1,922 | 2,868 | 2,747 | 3,832 |
| Repurchase of common stock | 24,331 | NaN | NaN | NaN |
| Taxes paid related to net-share settlement of share-based compensation awards | 9,441 | 41,617 | NaN | NaN |
| Payment of earn-out related to a previous acquisition | NaN | 500 | NaN | NaN |
| Net cash (used for) provided by financing activities | -31,850 | -39,249 | 2,747 | 3,832 |
| Net increase in cash, cash equivalents and restricted cash | 102,172 | 24,847 | 35,311 | 92,235 |
| Cash, cash equivalents and restricted cash - beginning of period | 1,039,124 | 1,014,277 | 978,966 | 886,731 |
| Cash, cash equivalents and restricted cash - end of period | 1,141,296 | 1,039,124 | 1,014,277 | 978,966 |
Duolingo, Inc. (DUOL)
Duolingo, Inc. (DUOL)