Duolingo Quarterly Cash Flow Statement
NASDAQ: DUOLTechnologyComputer Software: Prepackaged SoftwareUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Duolingo free cash flow
In the quarter ended Jun 30, 2026, Duolingo generated $88.3 million of operating cash flow and spent $6.9 million on capital expenditures. That left free cash flow of $81.4 million, a free-cash-flow margin of 27.3% of revenue. Free cash flow was down 9.1% from the prior year's $89.5 million.
Duolingo returned $45.3 million to shareholders through share repurchases, equal to 56% of free cash flow.
Summary generated from market data by MetaCap's automated system. Methodology
Duolingo cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 33.16M | 43.46M | 41.95M | 292.19M | 44.78M | 35.13M | 13.91M | 23.36M | 24.35M | 26.96M | 12.12M | 2.81M |
| Net Income growth (YoY) | -25.96% | +23.69% | +201.68% | +1150.83% | +83.90% | +30.34% | +14.77% | +732.21% | +553.72% | — | — | — |
| Depreciation & Amortization | 4.25M | 4.19M | 3.81M | 3.55M | 3.44M | 3.59M | 3.66M | 2.88M | 2.24M | 2.07M | 2.04M | 1.66M |
| Stock-Based Compensation | 38.21M | 34.65M | 36.26M | 35.56M | 34.59M | 31.02M | 29.79M | 28.96M | 26.75M | 24.98M | 25.00M | 25.43M |
| Change in Working Capital | -3.09M | 64.25M | 21.96M | -6.46M | 14.94M | 45.06M | 47.76M | 4.19M | 10.74M | 34.30M | 18.41M | 10.01M |
| Operating Cash Flow | 88.26M | 150.77M | 107.28M | 84.24M | 90.67M | 105.63M | 83.34M | 56.27M | 62.39M | 83.51M | 49.19M | 37.65M |
| Capital Expenditures | -6.90M | -132.00K | -10.73M | -4.86M | -1.20M | -1.31M | -1.96M | -3.18M | -5.56M | -1.41M | -924.00K | -759.00K |
| Investing Cash Flow | 8.28M | -16.75M | -43.18M | -51.67M | -2.27M | -10.55M | -110.36M | -93.29M | -8.66M | -5.02M | -4.15M | -4.75M |
| Share Repurchases | -45.27M | -24.33M | — | — | 0 | 0 | — | — | — | — | — | — |
| Financing Cash Flow | -54.21M | -31.85M | -39.25M | 2.75M | 3.83M | 3.12M | -41.60M | 3.19M | 4.79M | 3.61M | 3.56M | -9.82M |
| Net Change in Cash | 42.33M | 102.17M | 24.85M | 35.31M | 92.23M | 98.20M | -68.62M | -33.83M | 58.53M | 82.10M | 48.61M | 23.07M |
| Free Cash Flow | 81.36M | 150.64M | 96.55M | 79.38M | 89.48M | 104.32M | 81.38M | 53.09M | 56.83M | 82.10M | 48.27M | 36.89M |
This table shows 12 quarterly periods of Duolingo's cash flow statement, from Q2 2026 back to Q3 2023, across 11 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow DUOL's reporting calendar. What is a cash flow statement?