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Duolingo DUOL Intangibles (Net)

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Other financials

Income statement

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Revenue$298.5M+18.3%
Gross profit$216.7M+18.7%
Operating income$33.9M+1.7%
Net income$33.2M-26.0%
EPS (diluted)$0.66-27.5%

Balance sheet

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Cash & equivalents$184.9M+104%
Total debt$86.1M+121%
Total equity$1.4B+44.3%
Total assets$2.1B+34.4%

Cash flow

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Operating cash flow$88.3M-2.7%
CapEx$6.9M+476%
Free cash flow$81.4M-9.1%

Valuation

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Market cap$5.74B-63.3%
Enterprise value$5.64B-63.8%
P/E14×-119×
P/S-12.6×

Profitability

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Gross margin72.7%+0.7pp
Operating margin13.7%+4.2pp
Net margin35.9%+22.6pp
FCF margin35.6%-1.5pp

Returns & leverage

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Return on equity34.4%+21.0pp
Debt / equity0.1×0.0×
Current ratio2.7×-0.1×

Where this comes from

Reported directly by Duolingo in its filing.

Tagged under the XBRL concept us-gaap:IntangibleAssetsNetExcludingGoodwill.

The source filing: Duolingo’s 10-Q, filed August 6, 2026.

Filed
Aug 5, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053603
Line itemJune 30,2026December 31, 2025
Total current assets1,571,1141,436,606
Operating lease right-of-use assets74,83080,380
Long-term investments102,693135,098
Intangible assets, net27,59828,309
Property and equipment, net42,61936,297
Goodwill35,33535,335
Restricted cash2,7352,735
Deferred tax assets, net206,039227,339

Item 1. Financial Statements (Unaudited)

FAQ

What is Duolingo's intangibles (net)?
Duolingo (DUOL) reported intangibles (net) of $27.6M in Q2 2026.
How has Duolingo's intangibles (net) changed year-over-year?
Duolingo's intangibles (net) increased by 40.3% year-over-year, from $19.67M to $27.6M.
What is the long-term trend for Duolingo's intangibles (net)?
Over 4 years (2021 to 2025), Duolingo's intangibles (net) has grown at a 57.8% compound annual growth rate (CAGR), from $4.57M to $28.31M.
What does intangibles (net) mean?
Identifiable intangible assets (patents, trademarks, customer relationships, technology) net of accumulated amortization — excluding goodwill.

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