← Duolingo, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|
| Revenues | $161.7m | $250.8m | $369.5m | $531.1m | $748.0m | $1.0b | |
| Cost of revenues | $46.0m | $69.2m | $99.4m | $142.1m | $203.6m | $288.1m | |
| Gross profit | $115.7m | $181.6m | $270.1m | $389.0m | $544.4m | $749.5m | |
| Research and development | $53.0m | $103.8m | $150.4m | $194.4m | $235.3m | $306.3m | |
| Total operating expenses | $131.7m | $241.6m | $335.3m | $402.3m | $481.8m | $613.9m | |
| Income from operations | ($16.0m) | ($60.0m) | ($65.2m) | ($13.3m) | $62.6m | $135.6m | |
| Sales and marketing | $35.0m | $59.2m | $67.0m | $75.8m | $90.5m | $125.7m | |
| General and administrative | $43.7m | $78.6m | $117.8m | $132.1m | $156.0m | $181.9m | |
| Other income | $157k | $318k | $131k | $590k | $1.3m | $3.4m | |
| Income (loss) before interest income and income taxes | ($15.9m) | ($60.0m) | ($65.9m) | ($13.3m) | $59.6m | $137.2m | |
| Interest income | $231k | $19k | $7.2m | $31.1m | $42.7m | $45.2m | |
| (Benefit from) provision for income taxes | $68k | $177k | $938k | $1.7m | $13.7m | ($231.7m) | |
| Comprehensive income | ($15.8m) | ($60.1m) | ($59.6m) | $16.1m | $88.6m | $414.1m | |
| Income before income taxes | ($15.7m) | ($60.0m) | ($58.6m) | $17.8m | $102.3m | $182.4m | |
| Net income | ($15.8m) | ($60.1m) | ($59.6m) | $16.1m | $88.6m | $414.1m | |
| Net income per share attributable to Class A and Class B common stockholders, basic (in usd per share) | ($1) | ($3) | ($2) | $0 | $2 | $9 | |
| Net income per share attributable to Class A and Class B common stockholders, diluted (in usd per share) | ($1) | ($3) | ($2) | $0 | $2 | $9 | |
| Other expense | ($85k) | ($288k) | ($807k) | ($645k) | ($4.3m) | ($1.8m) | |
| Other income (expense), net | $303k | $49k | ($676k) | ($55k) | ($3.0m) | $1.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.