Duolingo annual net debt
2020
2021
2022
2023
2024
2025
Duolingo Net Debt Growth & History (DUOL)
Duolingo's net debt was −$935.4M for fiscal 2025.
View full Duolingo company overviewDuolingo annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | −$935.4M | −$206.9M | — |
| 2024 | 2024-12-31 | −$728.6M | −$6.0M | — |
| 2023 | 2023-12-31 | −$722.6M | −$142.8M | — |
| 2022 | 2022-12-31 | −$579.8M | −$58.3M | — |
| 2021 | 2021-12-31 | −$521.5M | −$410.2M | — |
| 2020 | 2020-12-31 | −$111.2M | — | — |
Duolingo quarterly net debt
Q4.20
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 | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$1.09B | −$215.3M | — |
| Q1 2026 | 2026-03-31 | −$1.05B | −$217.2M | — |
| Q4 2025 | 2025-12-31 | −$935.4M | −$206.9M | — |
| Q3 2025 | 2025-09-30 | −$914.2M | −$117.1M | — |
| Q2 2025 | 2025-06-30 | −$879.4M | −$48.4M | — |
| Q1 2025 | 2025-03-31 | −$829.5M | −$56.4M | — |
| Q4 2024 | 2024-12-31 | −$728.6M | −$6.0M | — |
| Q3 2024 | 2024-09-30 | −$797.1M | −$121.5M | — |
| Q2 2024 | 2024-06-30 | −$831.0M | −$179.7M | — |
| Q1 2024 | 2024-03-31 | −$773.1M | −$159.9M | — |
| Q4 2023 | 2023-12-31 | −$722.6M | −$142.8M | — |
| Q3 2023 | 2023-09-30 | −$675.7M | −$104.6M | — |
| Q2 2023 | 2023-06-30 | −$651.3M | −$90.2M | — |
| Q1 2023 | 2023-03-31 | −$613.2M | −$67.8M | — |
| Q4 2022 | 2022-12-31 | −$579.8M | −$58.3M | — |
| Q3 2022 | 2022-09-30 | −$571.1M | −$31.6M | — |
| Q2 2022 | 2022-06-30 | −$561.1M | −$454.9M | — |
| Q1 2022 | 2022-03-31 | −$545.3M | — | — |
| Q4 2021 | 2021-12-31 | −$521.5M | −$410.2M | — |
| Q3 2021 | 2021-09-30 | −$539.5M | — | — |
| Q2 2021 | 2021-06-30 | −$106.2M | — | — |
| Q4 2020 | 2020-12-31 | −$111.2M | — | — |
Duolingo net debt trends
Over the last five fiscal years, Duolingo's net debt decreased from −$111.2M to −$935.4M, a change of −$824.2M. The latest reported quarter, Q2 2026, shows −$1.09B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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