Duolingo (DUOL) Income Statement: Revenue & Earnings

Duolingo Income Statement Analysis

Revenue, earnings, and profit margins in millions USD

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Duolingo, Inc. income statement - Annual data in millions USD
Breakdown	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Revenue & Gross Profit
Revenue	748.02	531.11	369.50	250.77	161.70
Cost of Revenue	203.65	142.11	99.43	69.19	45.99
Gross Profit	544.38	389.00	270.06	181.59	115.71
Operating Expenses
Research & Development	235.30	194.35	150.44	103.83	53.02
Selling, General & Administrative	246.49	207.91	184.82	137.76	78.70
Operating Expenses	481.78	402.26	335.26	241.59	131.72
Operating Income	62.60	-13.26	-65.20	-60.01	-16.01
Other Income/Expense
Interest Income	42.70	31.09	7.24	0.02	0.23
Interest Expense	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	39.71	-0.06	-0.68	0.03	0.07
Income
Income Before Tax	102.31	17.78	-58.64	-59.96	-15.71
Income Tax Expense	13.73	1.71	0.94	0.18	0.07
Net Income	88.57	16.07	-59.57	-60.14	-15.78
Net Income - Continuous Operations	88.57	16.07	-59.57	-60.14	0.00
Net Income - Discontinued Operations	0.00	0.00	0.00	0.00	0.00
EBITDA	73.45	-6.16	-60.33	-57.28	-14.39
EBIT	102.31	-13.26	-65.20	-60.01	-16.01
Depreciation & Amortization	10.85	7.10	4.87	2.73	1.62
Earnings Per Share
Basic EPS	2.00	-	-2.00	-3.00	-1.00
Diluted EPS	2.00	-	-2.00	-3.00	-1.00
Basic Shares Outstanding	43.50	41.20	39.47	38.27	12.74
Diluted Shares Outstanding	47.10	45.91	39.47	38.27	12.74