What is Duolingo's equity method investments?

Duolingo (DUOL) reported equity method investments of $140.21M in Q1 2026.

How has Duolingo's equity method investments changed year-over-year?

Duolingo's equity method investments increased by 68.2% year-over-year, from $83.34M to $140.21M.

What does equity method investments mean?

Investments in unconsolidated affiliates and joint ventures where the company has significant influence (typically 20-50% ownership), carried at proportional book value.

Duolingo DUOL Equity Method Investments

Equity Method Investments at other companies

MYR GroupMYRG

$3.4M-9.7%

Piper SandlerPIPR

$17.84M+18.6%

American Healthcare REITAHR

$4.42M-63.4%

LKQLKQ

$125M-19.9%

Sensata TechnologiesST

$7.3M+1.4%

AppFolioAPPF

$77.67M—

Other financials

Income statement

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Revenue$292.0M+26.5%

Gross profit$213.1M+29.9%

Operating income$44.5M+88.7%

Net income$43.5M+23.7%

EPS (diluted)$0.89+23.6%

Balance sheet

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Cash & equivalents$171.2M+113%

Total debt$91.9M+68.5%

Total equity$1.4B+55.7%

Total assets$2.1B+46.7%

Cash flow

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Operating cash flow$150.8M+42.7%

CapEx$132.0K-89.9%

Free cash flow$150.6M+44.4%

Valuation

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Market cap$5.85B-67.1%

Enterprise value$5.77B-67.6%

P/E13.9×-170×

P/S5.3×-16.6×

Profitability

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Gross margin72.7%+0.4pp

Operating margin14.2%+5.6pp

Net margin38.4%+26.5pp

FCF margin37.9%+1.4pp

Returns & leverage

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Return on equity37%+24.9pp

Debt / equity0.1×0.0×

Current ratio2.6×-0.1×

Where this comes from

Reported directly by Duolingo in its filing.

Tagged under the XBRL concept us-gaap:LongTermInvestments.

The official record: Duolingo’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Duolingo's equity method investments?: Duolingo (DUOL) reported equity method investments of $140.21M in Q1 2026.
How has Duolingo's equity method investments changed year-over-year?: Duolingo's equity method investments increased by 68.2% year-over-year, from $83.34M to $140.21M.
What does equity method investments mean?: Investments in unconsolidated affiliates and joint ventures where the company has significant influence (typically 20-50% ownership), carried at proportional book value.