Duolingo annual free cash flow
2020
2021
2022
2023
2024
2025
Duolingo Free Cash Flow (FCF) History (DUOL)
Duolingo reported $369.7M in free cash flow for fiscal 2025, an increase of 35.23% from the previous fiscal year, with a free cash flow margin of 35.63%.
View full Duolingo company overviewDuolingo free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $369.7M | $96.3M | +35.23% | +35.63% |
| 2024 | 2024-12-31 | $273.4M | $123.0M | +81.75% | +36.55% |
| 2023 | 2023-12-31 | $150.4M | $102.3M | +212.77% | +28.32% |
| 2022 | 2022-12-31 | $48.1M | $42.5M | +761.28% | +13.02% |
| 2021 | 2021-12-31 | $5.6M | −$8.7M | −61.04% | +2.23% |
| 2020 | 2020-12-31 | $14.3M | — | — | +8.86% |
Duolingo quarterly free cash flow
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $81.4M | −$8.1M | −9.07% | +27.26% |
| Q1 2026 | 2026-03-31 | $150.6M | $46.3M | +44.40% | +51.59% |
| Q4 2025 | 2025-12-31 | $96.6M | $15.2M | +18.64% | +34.13% |
| Q3 2025 | 2025-09-30 | $79.4M | $26.3M | +49.52% | +29.21% |
| Q2 2025 | 2025-06-30 | $89.5M | $32.7M | +57.46% | +35.47% |
| Q1 2025 | 2025-03-31 | $104.3M | $22.2M | +27.07% | +45.21% |
| Q4 2024 | 2024-12-31 | $81.4M | $33.1M | +68.60% | +38.84% |
| Q3 2024 | 2024-09-30 | $53.1M | $16.2M | +43.91% | +27.57% |
| Q2 2024 | 2024-06-30 | $56.8M | $20.5M | +56.37% | +31.87% |
| Q1 2024 | 2024-03-31 | $82.1M | $53.2M | +183.86% | +49.00% |
| Q4 2023 | 2023-12-31 | $48.3M | $37.0M | +326.56% | +31.97% |
| Q3 2023 | 2023-09-30 | $36.9M | $30.2M | +452.26% | +26.81% |
| Q2 2023 | 2023-06-30 | $36.3M | $25.5M | +236.54% | +28.65% |
| Q1 2023 | 2023-03-31 | $28.9M | $9.6M | +49.86% | +25.01% |
| Q4 2022 | 2022-12-31 | $11.3M | $11.4M | — | +10.90% |
| Q3 2022 | 2022-09-30 | $6.7M | $3.3M | +94.98% | +6.95% |
| Q2 2022 | 2022-06-30 | $10.8M | $12.8M | — | +12.22% |
| Q1 2022 | 2022-03-31 | $19.3M | $15.0M | +350.51% | +23.76% |
| Q4 2021 | 2021-12-31 | −$91,000 | −$574,000 | — | −0.12% |
| Q3 2021 | 2021-09-30 | $3.4M | — | — | +5.39% |
| Q2 2021 | 2021-06-30 | −$2.0M | — | — | −3.46% |
| Q1 2021 | 2021-03-31 | $4.3M | — | — | +7.74% |
| Q3 2020 | 2020-09-30 | $483,000 | — | — | +1.07% |
Duolingo free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $14.3M to $369.7M, a compound annual growth rate of 91.56%. Duolingo's latest reported quarter, Q2 2026, generated $81.4M in free cash flow, a decrease of 9.07% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Duolingo filings at SEC.gov ↗