0001628280-26-012494 | 10-K | XBRL Viewer

REVENUE - Schedule of Changes in Deferred Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer, Liability [Roll Forward]
Beginning balance	$ 372,884	$ 249,192
Amount from beginning balance recognized into revenue	(372,434)	(248,667)
Recognition of deferred revenue	(572,589)	(402,937)
Deferral of revenue	1,068,345	775,296
Ending balance	$ 496,205	$ 372,884

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Statement of Cash Flows [Abstract]
Cash acquired during acquisition	$ 0	$ 5

STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Number of options
Options outstanding, beginning balance (in shares)	1,523,000
Granted (in shares)	0
Exercised (in shares)	(664,000)
Forfeited and expired (in shares)	0
Options outstanding, ending balance (in shares)	859,000	1,523,000
Number of options exercisable (in shares)	859,000
Weighted- average exercise price
Outstanding, beginning balance (in usd per share)	$ 18.73
Granted (in usd per share)	0
Exercised (in usd per share)	19.06
Forfeited and expired (in usd per share)	0
Outstanding, ending balance (in usd per share)	18.38	$ 18.73
Weighted average exercise price, options exercisable (in usd per share)	$ 18.38
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (in years), outstanding	3 years 9 months 7 days	4 years 8 months 1 day
Weighted average remaining contractual term (in years), exercisable
Aggregate intrinsic value, outstanding	$ 135,938	$ 465,985
Aggregate intrinsic value, exercisable	$ 135,938

EMPLOYEE BENEFIT PLAN (Details) - USD ($)	12 Months Ended
EMPLOYEE BENEFIT PLAN (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer	$ 8,298,000	$ 6,965,000	$ 5,908,000
Defined contribution plan, employer discretionary contribution amount	$ 0	$ 0
First 4% of Employee Elective Deferral
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match (in percent)	100.00%
Employer matching contribution, percent of employees' gross pay (in percent)	4.00%
Next 2% of Employee Elective Deferral
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match (in percent)	50.00%
Employer matching contribution, percent of employees' gross pay (in percent)	2.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

REVENUE

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

Disaggregation of Revenue

In accordance with ASC 606, Revenue from Contracts with Customers, the Company disaggregates revenue from contracts with customers into revenue streams, which most closely depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.


	Year Ended December 31,
(In thousands)		2025		2024		2023
Revenues:
Subscription		$	873,442	$	607,531	$	404,684
Other (1)		164,147		140,493		126,425
Total revenues		$	1,037,589	$	748,024	$	531,109

________________

(1) Other revenue is comprised of the below.


	Year Ended December 31,
(In thousands)		2025		2024		2023
Advertising		$	79,725	$	54,907	$	49,858
Duolingo English Test		42,006		45,640		41,212
IAPs		40,479		38,653		34,673
Other		1,937		1,293		682
Total other revenue		$	164,147	$	140,493	$	126,425

Three service providers Apple, Google, and Stripe processed 61.6%, 23.4%, and 10.3% of total revenues for the year ended December 31, 2025, respectively. Three services providers, Apple, Google, and Stripe processed 60.8%, 23.4% and 11.7% of total revenues for the year ended December 31, 2024, respectively.

Information regarding geography of revenues is based upon the location where the users are located or, in the case of the Duolingo English Test, where the tests are taken:


	Year Ended December 31,
	2025		2024		2023
United States	$	392,214	$	311,539	$	238,759

Rest of World	645,375		436,485		292,350
Total	$	1,037,589	$	748,024	$	531,109

Customers located in the United States accounted for 38%, 42% and 45% of total revenues for the years ended December 31, 2025, 2024 and 2023, respectively. No other country accounted for more than 10% of revenue in the periods presented.

Deferred revenue mostly consists of payments received in advance of revenue recognition, and is mostly related to time-based subscriptions, which will be recognized into revenue over the course of the upcoming year (recognized over 12 months or less). Additionally, the Duolingo English Test has deferred revenue related to tests that have been purchased, but will not be recognized until the tests have been proctored. Changes in deferred revenues were as follows:


	Year Ended December 31,
(In thousands)	2025		2024
Beginning balance—January 1	$	372,884	$	249,192
Amount from beginning balance recognized into revenue	(372,434)		(248,667)
Recognition of deferred revenue	(572,589)		(402,937)
Deferral of revenue	1,068,345		775,296
Ending balance—December 31	$	496,205	$	372,884

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

INCOME TAXES - Effective Income Tax Rate Reconciliation Amount and Percent (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
Expected income tax expense at federal statutory rate	$ 38,306
State taxes, net of Federal income tax effect	(17,799)
Inducement payment	(2,651)
Other	920
Foreign-Derived Intangible Income deduction, other	6,426
Research and development credit	8,360
Valuation allowance changes	(233,479)
Equity compensation	(81,847)
Section 162(m) limitation	47,050
Meals and entertainment	2,900
Other	159
(Benefit from) provision for income taxes	$ (231,655)	$ 13,732	$ 1,710
Percent
Expected income tax expense at federal statutory rate	21.00%	21.00%	21.00%
State taxes, net of Federal income tax effect	(9.80%)	(3.80%)	(35.10%)
Inducement payment	(1.50%)
Other permanent adjustments	0.50%	1.80%	2.20%
Foreign-Derived Intangible Income deduction, other	3.50%
Research and development credit	4.60%
Valuation allowance	(128.00%)	70.00%	257.60%
Equity compensation	(44.90%)	(97.90%)	(208.40%)
Section 162(m) limitation	0.258	0.581	0.565
Meals and entertainment	1.60%	1.20%	5.60%
Other	0.10%
Effective income tax rate	(127.00%)	13.40%	9.60%
Tax Jurisdiction of Domicile [Extensible Enumeration]	United States

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2025
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Duolingo’s Board of Directors has authorized a share repurchase program of up to $400 million. The program reflects the Company’s commitment to capital allocation, including returning capital to stockholders and managing dilution, while maintaining flexibility to invest in long-term growth. Repurchases under the program may be made from time to time in the open market, through privately negotiated transactions or otherwise. The actual timing, number and value of shares repurchased is subject to various factors such as market conditions, the Company’s capital and liquidity positions, contractual requirements and other considerations. The timing and amount of any repurchases will be determined at the Company’s discretion, and the program does not obligate the Company to acquire any particular amount of shares. The program has no expiration date and may be terminated, modified or discontinued at any time.

INCOME TAXES - Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Beginning balance	$ (256,728)	$ (156,870)
Increase in valuation allowance	0	(99,858)
Release of valuation allowances	256,728	0
Ending balance	$ 0	$ (256,728)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2025 USD ($) segment reporting_unit	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Advertising costs \| $	$ 86,872,000	$ 62,373,000	$ 52,969,000
Number of reportable segments \| segment	1
Number of operating segments \| segment	1
Number of reporting units \| reporting_unit	1
Asset impairment charges \| $	$ 0	$ 0	$ 0
Apple \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (in percent)	62.50%	64.70%
Google \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (in percent)	22.70%	21.20%
Stripe \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (in percent)	11.40%

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 1,037,589	$ 748,024	$ 531,109
Subscription
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	873,442	607,531	404,684
Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	164,147	140,493	126,425
Advertising
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	79,725	54,907	49,858
Duolingo English Test
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	42,006	45,640	41,212
IAPs
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	40,479	38,653	34,673
Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 1,937	$ 1,293	$ 682

- Definition

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+ Details

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of capitalized computer software	$ 9,196	$ 5,889	$ 2,995
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Amortization of capitalized computer software	8,658	5,310	2,020
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Amortization of capitalized computer software	$ 538	$ 579	$ 975

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

FAIR VALUE

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

FAIR VALUE

The Company accounts for certain assets and liabilities at fair value in accordance with the accounting guidance applicable to fair value measurements and disclosures. The carrying values of cash, cash

equivalents, accounts receivable, accounts payable, and accrued expenses are deemed to be reasonable estimates of their fair values because of their short-term nature.

The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring and non-recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions, and credit risk.

The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

Level 1—Observable inputs such as quoted prices in active markets for identical investments that the Company has the ability to access.

Level 2—Inputs include:

•Quoted prices for identical or similar assets or liabilities in active markets;

•Quoted prices for identical or similar assets or liabilities in inactive markets;

•Inputs, other than quoted prices in active markets, which are observable either directly or indirectly;

•Inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.

Level 3—Unobservable inputs in which there is little or no market activity for the asset or liability, which require the reporting entity to develop its own estimates and assumptions relating to the pricing of the asset or liability including assumptions regarding risk.

The following table presents amortized cost, gross unrealized gains and losses, and fair value by major security type and balance sheet classification as of December 31, 2025 and December 31, 2024:


As of December 31, 2025
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	—	$	—	$	—	$	155,840	$	155,840	$	—	$	—

Level 1
Commercial paper	$	4,318	$	—	$	—	$	4,318	$	1,993	$	2,324	$	—
Money market funds	878,556		—		—		878,556		878,556		—		—
Subtotal	$	882,874	$	—	$	—	$	882,874	$	880,549	$	2,324	$	—

Level 2
Asset-backed securities	$	26,794	$	44	$	—	$	26,838	$	—	$	347	$	26,447

Corporate debt securities	182,417		237		(19)		182,635		—		93,997		88,420
U.S. Treasury securities	26,241		154		—		26,395		—		7,410		18,831
Subtotal	$	235,452	$	435	$	(19)	$	235,868	$	—	$	101,754	$	133,698

Level 3
Investment in SAFE	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Subtotal	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Total	$	1,118,326	$	435	$	(19)	$	1,275,982	$	1,036,389	$	104,078	$	135,098


As of December 31, 2024
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	—	$	—	$	—	$	73,351	$	73,351	$	—	$	—

Level 1
Commercial paper	$	15,659	$	2	$	(1)	$	15,661	$	—	$	15,659	$	—
Money market funds	712,440		—		—		712,440		712,440		—		—
Subtotal	$	728,099	$	2	$	(1)	$	728,101	$	712,440	$	15,659	$	—

Level 2
Asset-backed securities	$	16,280	$	10	$	(1)	$	16,289	$	—	$	697	$	15,583
Certificates of deposit	11,521		—		(14)		11,507		—		11,521		—
Corporate debt securities	126,031		7		(494)		125,543		—		55,013		71,018
U.S. Treasury securities	19,255		2		(61)		19,195		—		8,964		10,291
Subtotal	$	173,087	$	19	$	(570)	$	172,534	$	—	$	76,195	$	96,892

Level 3
Investment in SAFE	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Subtotal	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Total	$	901,186	$	21	$	(571)	$	975,386	$	785,791	$	91,854	$	98,292

As of December 31, 2025 and December 31, 2024, all of the Company’s short-term investments have contractual maturities of one year or less and all of the Company’s long-term investments have contractual maturities between one and four years. The Company has elected to present accrued interest within Prepaid expenses and other current assets in the Consolidated Balance Sheets. Accrued interest was $2,099 and $1,487 as of December 31, 2025 and December 31, 2024, respectively.

Changes in market interest rates, credit risk of borrowers and overall market liquidity, among other factors, may cause the short-term and long-term debt investments to fall below their amortized cost basis, resulting in unrealized losses. For those debt securities in an unrealized loss position as of December 31, 2025, the Company does not intend to sell, nor is it more likely than not that it will be required to sell, such securities before recovering the amortized cost basis. No allowance for credit losses were recognized in the financial statements for held-to-maturity debt securities for the periods ended December 31, 2025 and 2024.

Cash equivalents consist primarily of money market accounts with maturities of three months or less at the date of acquisition and are classified within Level 1.

The Company’s investments in corporate debt securities, U.S. Treasury securities, certificates of deposit, and asset-backed securities, which collectively are investments in held-to-maturity debt securities, are classified within Level 2, as their valuation requires quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and/or model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Share-based Payment Arrangement, Option, Activity

A summary of stock option activity as of December 31, 2025 is as follows:


(In thousands, except prices and years)	Number of options	Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value





Options outstanding at January 1, 2025	1,523	$	18.73	4.67	$	465,985
Granted (1)	—	—
Exercised	(664)	19.06

Forfeited and expired (2)	—	—
Options outstanding at December 31, 2025	859	$	18.38	3.77	$	135,938
Options exercisable at December 31, 2025	859	$	18.38		$	135,938

________________

(1) There were no stock options granted during the year ended December 31, 2025.

(2) There was a nominal amount of forfeitures and expirations during the year ended December 31, 2025.

Schedule of Share-based Payment Arrangement, RSU, Activity

A summary of RSU activity as of December 31, 2025 is as follows:


(In thousands, except prices)	Restricted stock units	Weighted- average grant date fair value per share




Outstanding at January 1, 2025	1,802	$	143.96
Granted	598	391.09
Released	(836)	140.38
Forfeited	(158)	217.11
Outstanding at December 31, 2025	1,406	$	242.94

Schedule of Share-based Payment Arrangement, Payment Award

Stock-based compensation expense is included in the Consolidated Statements of Operations and Comprehensive Income as shown in the following table:


	Year Ended December 31,
(In thousands)		2025		2024		2023
Cost of revenues		$	96	$	68	$	55
Research and development		84,874		60,076		45,119
Sales and marketing		6,358		4,912		3,908
General and administrative		46,109		45,421		46,139
Total		$	137,437	$	110,477	$	95,221

FAIR VALUE - Narrative (Details) - USD ($)	12 Months Ended
FAIR VALUE - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accrued interest	$ 2,099,000	$ 1,487,000
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets
Other-than-temporary impairments	$ 0	$ 0
Minimum
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term investments, maturity term (in years)	1 year	1 year
Maximum
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term investments, maturity term (in years)	4 years	4 years

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Tax, Domestic and Foreign

For the years ended December 31, 2025, 2024 and 2023 income before income taxes included the following components:


	Year Ended December 31,
	2025		2024		2023
Domestic	$	167,873	$	97,051	$	16,501
Foreign	14,537		5,255		1,276
Total	$	182,410	$	102,306	$	17,777

Schedule of Components of Income Tax Expense (Benefit)

For the years ended December 31, 2025, 2024 and 2023 the Company recognized the following provision for income taxes:


	Twelve months ended December 31,
	2025		2024		2023
Current:
Federal	$	(6,243)	$	10,652	$	895
State	(313)		2,639		607
Foreign	1,630		284		341
Total	$	(4,926)	$	13,575	$	1,843

Deferred:
Federal	$	(207,587)	$	—	$	—
State	$	(17,556)	—		—
Foreign	$	(1,586)	157		(133)
Total	$	(226,729)	$	157	$	(133)

(Benefit from) provision for income taxes	$	(231,655)	$	13,732	$	1,710

Schedule of Cash Flow, Supplemental Disclosures

Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2, “Summary of Significant Accounting Policies”, cash paid for taxes, net of refunds, during the year ended December 31, 2025 was as follows:


Federal	$	9,700
State	3,955
Foreign	702
Total cash paid for income taxes, net of refunds	$	14,357

Schedule of Effective Income Tax Rate Reconciliation

Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2, “Summary of Significant Accounting Policies”, the reconciliation of taxes at the federal statutory rate to our benefit from income taxes for the year ended December 31, 2025 was as follows:


	Amount		Percent
Expected income tax expense at federal statutory rate	$	38,306	21.0	%
State taxes, net of Federal income tax effect (1)	(17,799)		(9.8)	%
Foreign tax effects
Inducement payment	(2,651)		(1.5)	%
Other	920		0.5	%
Foreign-Derived Intangible Income deduction	6,426		3.5	%
Research and development credit	8,360		4.6	%
Valuation allowance changes	(233,479)		(128.0)	%
Nontaxable or nondeductible items:
Equity compensation	(81,847)		(44.9)	%
Section 162(m) limitation	47,050		25.8	%
Meals and entertainment	2,900		1.6	%
Other	159		0.1	%

Effective income tax rate	(231,655)		(127.0)	%

________________

(1) State taxes in California, Pennsylvania and Illinois made up the majority (greater than 50 percent) of the tax effect in this category.

The reconciliation of taxes at the federal statutory rate to our provision for taxes for the years ended December 31, 2024 and 2023 in accordance with the guidance prior to the adoption of ASU 2023-09 was as follows:


	2024		2023
Expected income tax expense at federal statutory rate	21.0	%	21.0	%
State taxes, net of Federal income tax effect	(3.8)		(35.1)
Section 162(m) limitation	58.1		56.5
Equity compensation	(97.9)		(208.4)
Meals and entertainment	1.2		5.6
Foreign-Derived Intangible Income deduction	(13.5)		(13.4)
Other permanent adjustments	1.8		2.2
Research and development credit	(23.5)		(76.4)
Valuation allowance	70.0		257.6
Effective income tax rate	13.4	%	9.6	%

Schedule of Deferred Tax Assets and Liabilities

The Company has the following deferred tax assets (liabilities) as of December 31, 2025 and 2024:


	2025		2024
Net operating loss carryforwards	$	27,541	$	4,491
Section 174 research and development capitalization	118,009		190,768
Research and development credits	74,943		61,198
Lease liability	22,201		13,004
Stock-based compensation	6,881		4,755
Marketing and advertising	1,124		674
Sales tax / Value added tax ("VAT") reserve	905		560
Other deferred tax assets	516		70
Valuation allowance	—		(256,728)
Total deferred tax assets	252,120		18,792

ROU asset	(17,551)		(10,757)
Capitalized software	(4,251)		(4,444)
Property and equipment	(2,440)		(2,885)
Other deferred tax liabilities	(788)		(322)
Total deferred tax liabilities	(25,030)		(18,408)

Net deferred taxes	$	227,090	$	384

Schedule of Valuation Allowance

The following table represents the activity in our valuation allowance for the years ended December 31, 2025 and 2024:


	Year Ended December 31,
	2025		2024
Beginning balance—January 1	$	(256,728)	$	(156,870)
Increase in valuation allowance	—		(99,858)
Release of valuation allowances	256,728		—
Ending balance—December 31	$	—	$	(256,728)

LEASES - Narrative (Details) $ in Thousands	Dec. 31, 2025 USD ($) ft²	Jun. 30, 2025 ft²	May 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	May 31, 2024 ft²	Mar. 31, 2024 USD ($) ft²	Feb. 29, 2024 ft²
Lessee, Lease, Description [Line Items]
Renewal term (in years)	5 years
Area of office building \| ft²	148,266
Operating lease right-of-use assets	$ 80,380		$ 35,592	$ 47,495
Cost related to improvement to the premise	6,809
Operating lease liabilities	100,983		$ 38,964
Obligations under current leases	$ 7,204			$ 2,581
Operating lease, liability, current, statement of financial position, [extensible enumeration]	Accrued expenses and other current liabilities			Accrued expenses and other current liabilities
Long-term obligation under operating leases	$ 93,779			$ 54,656
Seattle, Washington
Lessee, Lease, Description [Line Items]
Area of office building \| ft²							7,940
Lease term (in months)							63 months
Pittsburgh, Pennsylvania
Lessee, Lease, Description [Line Items]
Area of office building \| ft²		148,266
Leased square footage \| ft²						110,008
Cost related to improvement to the premise						$ 6,800
Beijing, China
Lessee, Lease, Description [Line Items]
Area of office building \| ft²					16,314,000
Lease term (in months)					39 months

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 414,065	$ 88,574	$ 16,067
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	(225,185)	0	0
Stock-based compensation expense	137,437	110,477	95,221
Depreciation and amortization	14,391	10,854	7,095
Accretion on marketable securities, net	(1,851)	(551)	0
Other	0	238	333
Changes in assets and liabilities:
Deferred revenue	123,321	123,692	91,642
Accounts receivable	(33,904)	(39,917)	(42,247)
Deferred cost of revenues	(22,501)	(26,231)	(18,890)
Prepaid expenses and other current assets	(15,791)	(7,570)	(48)
Accounts payable	1,617	3,934	1,261
Accrued expenses and other current liabilities	255	16,850	3,444
Noncurrent assets and liabilities	(4,031)	5,163	(264)
Net cash provided by operating activities	387,823	285,513	153,614
Cash flows from investing activities:
Purchases of investments	(162,926)	(193,300)	0
Maturities and paydowns of investments	115,747	3,705	0
Capitalized software expense and purchases of intangible assets	(9,303)	(9,024)	(10,493)
Purchase of property and equipment	(18,096)	(12,116)	(3,191)
Proceeds from sale of capitalized software	0	0	100
Acquisitions of companies, net of $0 and $5 cash acquired, respectively	(33,100)	(6,595)	0
Net cash used for investing activities	(107,678)	(217,330)	(13,584)
Cash flows from financing activities:
Proceeds from exercise of stock options	12,570	19,356	13,617
Taxes paid related to net-share settlement of share-based compensation awards	(41,617)	(49,358)	(11,482)
Payment of earn-out related to a previous acquisition	(500)	0	0
Net cash used for financing activities	(29,547)	(30,002)	2,135
Net increase in cash, cash equivalents and restricted cash	250,598	38,181	142,165
Cash, cash equivalents and restricted cash - Beginning of period	788,526	750,345	608,180
Cash, cash equivalents and restricted cash - End of period	1,039,124	788,526	750,345
Supplemental disclosure of cash flow information:
Cash paid for income taxes	14,405	7,620	2,320
Supplemental disclosure of noncash investing activities:
Property and equipment included in Current liabilities	4,453	0	165
Landlord incentive included in Other assets	6,809	0	0
Right of use assets obtained in exchange for new operating lease liabilities	39,202	33,039	0
Right of use assets disposed of or adjusted for modifying operating leases liabilities	$ 0	$ 1,303	$ 2,024

PROPERTY and EQUIPMENT, net (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net


Asset Class			Estimated Useful Life
Furniture, fixtures and equipment			4 to 6 years
Leasehold improvements			5 to 10 years

Property and equipment, net, consists of the following:



(In thousands)	December 31, 2025		December 31, 2024
Leasehold improvements	$	44,773	$	26,938
Furniture, fixtures and equipment	13,095		8,415
Total property and equipment	57,868		35,353
Less: accumulated depreciation	(21,571)		(16,410)
Total property and equipment, net	$	36,297	$	18,943

Depreciation expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income.


	Year Ended December 31,
(In thousands)		2025		2024		2023

Research and development		$	3,328	$	2,358	$	1,650
Sales and marketing		399		281		190
General and administrative		1,468		2,326		2,260
Total		$	5,195	$	4,965	$	4,100

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportional basis and the resulting net income per share attributable to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis.


	Year Ended December 31,
(In thousands, except per share data)		2025		2024		2023
Numerator:
Net income attributable to Class A and Class B common stockholders		$	414,065	$	88,574	$	16,067


Denominator:
Weighted-average shares in computing net income per share attributable to Class A and Class B common stockholders, basic		45,773		43,504		41,451
Effect of dilutive securities
Founder awards where performance has been met		360		360		270
Dilutive effect of stock options outstanding (1)		769		1,435		2,774
RSUs outstanding		1,406		1,802		2,027
Denominator for dilutive net income per common share - weighted-average shares		48,308		47,101		46,522
Basic income per common share		$	9.05	$	2.04	$	0.39
Diluted income per common share		$	8.57	$	1.88	$	0.35

______________

(1) The Company had 0.9 million options outstanding as of December 31, 2025. The estimated dilutive effect is calculated as the number of shares expected to be issued upon vesting or exercise, adjusted for the strike price proceeds that are received by the Company and assumed to be used to repurchase shares of Duolingo common stock.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenues	$ 1,037,589	$ 748,024	$ 531,109
Cost of revenues	288,132	203,645	142,105
Gross profit	749,457	544,379	389,004
Operating expenses:
Research and development	306,323	235,298	194,352
Sales and marketing	125,677	90,494	75,788
General and administrative	181,887	155,992	132,123
Total operating expenses	613,887	481,784	402,263
Income from operations	135,570	62,595	(13,259)
Other income	3,382	1,267	590
Other expense	(1,773)	(4,253)	(645)
Other income (expense), net	1,609	(2,986)	(55)
Income (loss) before interest income and income taxes	137,179	59,609	(13,314)
Interest income	45,231	42,697	31,091
Income before income taxes	182,410	102,306	17,777
(Benefit from) provision for income taxes	(231,655)	13,732	1,710
Net income	414,065	88,574	16,067
Comprehensive income	$ 414,065	$ 88,574	$ 16,067
Net income per share attributable to Class A and Class B common stockholders, basic (in usd per share)	$ 9.05	$ 2.04	$ 0.39
Net income per share attributable to Class A and Class B common stockholders, diluted (in usd per share)	$ 8.57	$ 1.88	$ 0.35

REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


	Year Ended December 31,
(In thousands)		2025		2024		2023
Revenues:
Subscription		$	873,442	$	607,531	$	404,684
Other (1)		164,147		140,493		126,425
Total revenues		$	1,037,589	$	748,024	$	531,109

________________

(1) Other revenue is comprised of the below.


	Year Ended December 31,
(In thousands)		2025		2024		2023
Advertising		$	79,725	$	54,907	$	49,858
Duolingo English Test		42,006		45,640		41,212
IAPs		40,479		38,653		34,673
Other		1,937		1,293		682
Total other revenue		$	164,147	$	140,493	$	126,425

Schedule of Revenue by Geographic Areas

Information regarding geography of revenues is based upon the location where the users are located or, in the case of the Duolingo English Test, where the tests are taken:


	Year Ended December 31,
	2025		2024		2023
United States	$	392,214	$	311,539	$	238,759

Rest of World	645,375		436,485		292,350
Total	$	1,037,589	$	748,024	$	531,109

Schedule of Changes in Deferred Revenues

Changes in deferred revenues were as follows:


	Year Ended December 31,
(In thousands)	2025		2024
Beginning balance—January 1	$	372,884	$	249,192
Amount from beginning balance recognized into revenue	(372,434)		(248,667)
Recognition of deferred revenue	(572,589)		(402,937)
Deferral of revenue	1,068,345		775,296
Ending balance—December 31	$	496,205	$	372,884

INCOME TAXES

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

For the years ended December 31, 2025, 2024 and 2023 income before income taxes included the following components:


	Year Ended December 31,
	2025		2024		2023
Domestic	$	167,873	$	97,051	$	16,501
Foreign	14,537		5,255		1,276
Total	$	182,410	$	102,306	$	17,777

For the years ended December 31, 2025, 2024 and 2023 the Company recognized the following provision for income taxes:


	Twelve months ended December 31,
	2025		2024		2023
Current:
Federal	$	(6,243)	$	10,652	$	895
State	(313)		2,639		607
Foreign	1,630		284		341
Total	$	(4,926)	$	13,575	$	1,843

Deferred:
Federal	$	(207,587)	$	—	$	—
State	$	(17,556)	—		—
Foreign	$	(1,586)	157		(133)
Total	$	(226,729)	$	157	$	(133)

(Benefit from) provision for income taxes	$	(231,655)	$	13,732	$	1,710


Federal	$	9,700
State	3,955
Foreign	702
Total cash paid for income taxes, net of refunds	$	14,357

Cash paid for income taxes, net of refunds, during the years ended December 31, 2024 and 2023 was $7,620 and $2,320, respectively.


	Amount		Percent
Expected income tax expense at federal statutory rate	$	38,306	21.0	%
State taxes, net of Federal income tax effect (1)	(17,799)		(9.8)	%
Foreign tax effects
Inducement payment	(2,651)		(1.5)	%
Other	920		0.5	%
Foreign-Derived Intangible Income deduction	6,426		3.5	%
Research and development credit	8,360		4.6	%
Valuation allowance changes	(233,479)		(128.0)	%
Nontaxable or nondeductible items:
Equity compensation	(81,847)		(44.9)	%
Section 162(m) limitation	47,050		25.8	%
Meals and entertainment	2,900		1.6	%
Other	159		0.1	%

Effective income tax rate	(231,655)		(127.0)	%

________________

(1) State taxes in California, Pennsylvania and Illinois made up the majority (greater than 50 percent) of the tax effect in this category.


	2024		2023
Expected income tax expense at federal statutory rate	21.0	%	21.0	%
State taxes, net of Federal income tax effect	(3.8)		(35.1)
Section 162(m) limitation	58.1		56.5
Equity compensation	(97.9)		(208.4)
Meals and entertainment	1.2		5.6
Foreign-Derived Intangible Income deduction	(13.5)		(13.4)
Other permanent adjustments	1.8		2.2
Research and development credit	(23.5)		(76.4)
Valuation allowance	70.0		257.6
Effective income tax rate	13.4	%	9.6	%

The 2025 and 2024 effective tax rate differs from the statutory rate primarily due to tax-deductible stock-based compensation and the generation of research and development tax credits. The effective tax rate for 2025 is also significantly impacted by the release of the valuation allowance on the Company’s net deferred tax assets, while the effective tax rate for 2024 reflects changes in the valuation allowance.

The Company has the following deferred tax assets (liabilities) as of December 31, 2025 and 2024:


	2025		2024
Net operating loss carryforwards	$	27,541	$	4,491
Section 174 research and development capitalization	118,009		190,768
Research and development credits	74,943		61,198
Lease liability	22,201		13,004
Stock-based compensation	6,881		4,755
Marketing and advertising	1,124		674
Sales tax / Value added tax ("VAT") reserve	905		560
Other deferred tax assets	516		70
Valuation allowance	—		(256,728)
Total deferred tax assets	252,120		18,792

ROU asset	(17,551)		(10,757)
Capitalized software	(4,251)		(4,444)
Property and equipment	(2,440)		(2,885)
Other deferred tax liabilities	(788)		(322)
Total deferred tax liabilities	(25,030)		(18,408)

Net deferred taxes	$	227,090	$	384

During the year ended December 31, 2025, the Company released the valuation allowance previously recorded against its federal and state DTAs, resulting in a one-time income-tax benefit of $256,728. In reaching this conclusion, management considered, among other factors, consecutive quarterly pre-tax profitability, a three-year cumulative income position, and sustained operational profitability. Management will continue to monitor quarterly operating results, projected taxable income, and other relevant evidence, and may record a valuation allowance in future periods if actual results or other information differ from current expectations.

The income-tax benefit for the year ended December 31, 2025 reflects the combined impact of the valuation-allowance release and other discrete tax items recognized during the period, which are not indicative of ongoing operating performance. The decision to release the valuation allowance was based primarily on sustained and verifiable positive evidence.

As of December 31, 2025, the company has accumulated undistributed earnings generated by our foreign subsidiaries, most of which have been previously subject to U.S. tax. We intend to indefinitely reinvest these earnings, as well as future earnings from our foreign subsidiaries to fund our international operations. In addition, we expect future U.S. cash generation will be sufficient to meet future U.S. cash needs.

On July 4, 2025, the One Big Beautiful Bill Act was signed into law. Included in this legislation are provisions that allow for the immediate expensing of domestic research and development expenses, which the Company implemented during 2025. These changes did not have a material impact to the overall financial statements the year ended December 31, 2025.

The Company’s income before taxes, income tax provision or benefit and effective tax rates were as follows. The large variance in the effective tax rate between periods primarily reflects the recognition of the valuation-allowance release and other discrete tax benefits in the year ended December 31, 2025.

The following table represents the activity in our valuation allowance for the years ended December 31, 2025 and 2024:


	Year Ended December 31,
	2025		2024
Beginning balance—January 1	$	(256,728)	$	(156,870)
Increase in valuation allowance	—		(99,858)
Release of valuation allowances	256,728		—
Ending balance—December 31	$	—	$	(256,728)

The Company utilized its remaining federal net operating loss carryforwards in 2024, but during 2025 generated $111,199 of federal net operating losses, with an indefinite carryforward. The Company also has approximately $72,425 in state net operating loss carryforwards. State net operating loss carryforwards are subject to varying statutory carryforward periods, generally ranging from 10 to 30 years, with certain jurisdictions permitting indefinite carryforward. As of December 31, 2025,these state net operating loss carryforwards will begin to expire in 2035 and continue through 2047.

The Company has approximately $76,419 in federal and state general business credits that are available to offset future taxable income through 2045. The Company has analyzed the impact of IRC Sections 382 and 383 on these tax attributes and has determined that no prior ownership changes have occurred which would limit the Company’s ability to utilize the NOLs and research and development tax credits.

The Company’s tax years through the 2025 tax year remain subject to examination by federal and state tax authorities.

The Company utilizes a more-likely-than-not standard in recognizing a tax benefit in its financial statements. No uncertain tax benefits have been recorded in 2025, 2024, and 2023, respectively.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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+ Details

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)		1 Months Ended	12 Months Ended
	Jan. 01, 2026	Jun. 30, 2021	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			0
Aggregate intrinsic value, exercised			$ 213,805,000	$ 365,484,000	$ 192,456,000
Total			137,437,000	110,477,000	95,221,000
Stock options outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, options			$ 0
Number of options available for grant (in shares)			10,926,000
RSUs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years
Unrecognized compensation expense, excluding options			$ 311,428,000
Unrecognized compensation cost, weighted-average period of recognition (in years)			3 years
Equity instruments other than options, grants in period (in shares)			598,000
Founder awards where performance has been met
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, excluding options			$ 5,877,000
Total			$ 11,059,000	$ 19,799,000	$ 26,622,000
Founder awards where performance has been met \| Founders
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, grants in period (in shares)		1,800,000
Award service period (in years)		10 years
Settlement period after vesting (in years)		1 year
Founder awards where performance has been met \| Founders \| 2 (1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage (in percent)		25.00%
Founder awards where performance has been met \| Founders \| 3 (2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage (in percent)		25.00%
Founder awards where performance has been met \| Founders \| 4 (3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage (in percent)		25.00%
Founder awards where performance has been met \| Founders \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage (in percent)		25.00%
2021 Plan \| Common Class A \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	2,331,000
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years
Share-based compensation, term of award (in years)			10 years
Granted (in shares)			0

REVENUE - Schedule of Revenue by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 1,037,589	$ 748,024	$ 531,109
United States
Disaggregation of Revenue [Line Items]
Revenues	392,214	311,539	238,759
Rest of World
Disaggregation of Revenue [Line Items]
Revenues	$ 645,375	$ 436,485	$ 292,350

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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REVENUE - Narrative (Details)	12 Months Ended
REVENUE - Narrative (Details)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Maximum
Disaggregation of Revenue [Line Items]
Subscription period (in years)	12 months
Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk \| United States
Disaggregation of Revenue [Line Items]
Concentration risk (in percent)	38.00%	42.00%	45.00%
Apple \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (in percent)	61.60%	60.80%
Google \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (in percent)	23.40%	23.40%
Stripe \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (in percent)	10.30%	11.70%

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 1,036,389	$ 785,791
Short-term investments	104,078	91,854
Accounts receivable	162,827	128,923
Deferred cost of revenues	102,663	80,162
Income tax receivable	14,067	27
Prepaid expenses and other current assets	16,582	14,831
Total current assets	1,436,606	1,101,588
Operating lease right-of-use assets	80,380	47,495
Long-term investments	135,098	98,292
Intangible assets, net	28,309	19,899
Property and equipment, net	36,297	18,943
Goodwill	35,335	10,538
Restricted cash	2,735	2,735
Deferred tax assets, net	227,339	675
Other assets	10,083	1,563
Total assets	1,992,182	1,301,728
Current liabilities
Deferred revenues	496,205	372,884
Accounts payable	7,998	6,381
Income tax payable	1,257	6,591
Accrued expenses and other current liabilities	45,688	36,375
Total current liabilities	551,148	422,231
Long-term obligation under operating leases	93,779	54,656
Deferred tax liabilities, net	249	291
Total liabilities	645,176	477,178
Commitments and contingencies (Note 11)
Stockholders’ equity
Class A common stock, $0.0001 par value; 2,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 40,368 and 38,730 issued and outstanding at December 31, 2025 and December 31, 2024, respectively Class B common stock, $0.0001 par value; 30,000 shares authorized as of December 31, 2025 and December 31, 2024; 6,260 and 6,206 issued and outstanding at December 31, 2025 and December 31, 2024, respectively	5	4
Additional paid-in capital	1,058,783	950,393
Retained earnings (Accumulated deficit)	288,218	(125,847)
Total stockholders’ equity	1,347,006	824,550
Total liabilities and stockholders' equity	$ 1,992,182	$ 1,301,728

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

STOCK-BASED COMPENSATION

Prior to the IPO, the Company granted options to purchase shares of the Company’s common stock and restricted stock units (“RSU”) in respect of shares of the Company’s common stock to employees, directors and consultants under the Company’s 2011 Equity Incentive Plan. In connection with the IPO, the Company adopted the 2021 Incentive Award Plan (“2021 Plan”) and the 2021 Employee Stock Purchase Plan (“ESPP”), both of which became effective on July 26, 2021. The 2021 Plan and ESPP include an annual share increase provision through January 1, 2031, subject to limits and Board discretion. On January 1, 2026, the number of Class A shares available under the 2021 Plan was increased by 2,331 shares of common stock. No offerings have commenced under the ESPP, and in February 2025, the Board waived all future automatic share increases under the ESPP.

The Company’s stock options generally vest over four years based on continued service to the Company and its subsidiaries. Each option has a term of ten years. Any stock options granted under the 2021 Plan must generally have an exercise price of not less than the estimated fair market value of the underlying Class A common stock at the date of the grant, but as of December 31, 2025 no options had been granted under the 2021 Plan.

A summary of stock option activity as of December 31, 2025 is as follows:


(In thousands, except prices and years)	Number of options	Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value





Options outstanding at January 1, 2025	1,523	$	18.73	4.67	$	465,985
Granted (1)	—	—
Exercised	(664)	19.06

Forfeited and expired (2)	—	—
Options outstanding at December 31, 2025	859	$	18.38	3.77	$	135,938
Options exercisable at December 31, 2025	859	$	18.38		$	135,938

________________

(1) There were no stock options granted during the year ended December 31, 2025.

(2) There was a nominal amount of forfeitures and expirations during the year ended December 31, 2025.

The total intrinsic value of options exercised was approximately $213,805, $365,484 and $192,456 for the periods ended December 31, 2025, 2024 and 2023, respectively.

The Company began to grant RSUs in November 2020. The fair value of RSUs is estimated based on the fair value of our Class A common stock on the date of grant. Each RSU vests based upon the satisfaction of length of service. The Company measures and recognizes stock-based compensation expense for all stock-based awards based on the estimated fair value of the award.

A summary of RSU activity as of December 31, 2025 is as follows:


(In thousands, except prices)	Restricted stock units	Weighted- average grant date fair value per share




Outstanding at January 1, 2025	1,802	$	143.96
Granted	598	391.09
Released	(836)	140.38
Forfeited	(158)	217.11
Outstanding at December 31, 2025	1,406	$	242.94

As of December 31, 2025, there was no unrecognized stock-based compensation expense related to stock options granted under the plans. The amount of unrecognized stock-based compensation expense for RSUs as of December 31, 2025 was $311,428 with a weighted-average period of approximately three years.

There were 10,926 shares available for grant at December 31, 2025.

In June 2021, the Company granted an aggregate of 1,800 performance-based restricted stock units (“Founder Awards”) to its founders. The Founder Awards vest upon the satisfaction of both a service-based condition and a performance-based condition. The service condition vests 25% annually beginning on the initial public offering anniversary, July 30, 2021, subject to continued service. The performance-based condition is satisfied upon achievement of specified stock price hurdles over a ten year performance period from the grant date. Awards are generally settled one year after vesting. As of December 31, 2025, certain performance conditions associated with the Founder Awards have been achieved, while others remain subject to future stock price performance.

The fair value of the Founder Awards was estimated on the grant date using a Monte Carlo simulation model, which incorporates assumptions related to stock price volatility, expected term, risk-free interest rates, and other factors. Stock-based compensation expense related to the Founder Awards is recognized over the derived service period using the accelerated attribution method and is recorded regardless of whether the stock price hurdles are ultimately achieved, provided the service condition continues to be satisfied.

The Company recognized $11,059, $19,799 and $26,622 of stock-based compensation expense related to the Founder Awards for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025, $5,877 of unrecognized stock-based compensation expense remains.

Total stock-based compensation expense was $137,437, $110,477 and $95,221 for the years ended December 31, 2025, 2024 and 2023, respectively.

Stock-based compensation expense is included in the Consolidated Statements of Operations and Comprehensive Income as shown in the following table:


	Year Ended December 31,
(In thousands)		2025		2024		2023
Cost of revenues		$	96	$	68	$	55
Research and development		84,874		60,076		45,119
Sales and marketing		6,358		4,912		3,908
General and administrative		46,109		45,421		46,139
Total		$	137,437	$	110,477	$	95,221

Nominal amounts of stock-based compensation expense is capitalized into intangible assets for the years ended December 31, 2025, 2024 and 2023.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Useful Life


Asset Class			Estimated Useful Life
Furniture, fixtures and equipment			4 to 6 years
Leasehold improvements			5 to 10 years

Property and equipment, net, consists of the following:



(In thousands)	December 31, 2025		December 31, 2024
Leasehold improvements	$	44,773	$	26,938
Furniture, fixtures and equipment	13,095		8,415
Total property and equipment	57,868		35,353
Less: accumulated depreciation	(21,571)		(16,410)
Total property and equipment, net	$	36,297	$	18,943

Depreciation expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income.


	Year Ended December 31,
(In thousands)		2025		2024		2023

Research and development		$	3,328	$	2,358	$	1,650
Sales and marketing		399		281		190
General and administrative		1,468		2,326		2,260
Total		$	5,195	$	4,965	$	4,100

ACQUISITIONS

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

ACQUISITIONS

During July 2024, the Company completed two acquisitions which brought new designer, illustration, animation, and engineering talent to Duolingo’s existing teams in addition to developed technology. The total aggregate consideration was $7,500, of which $7,100 represents the purchase price allocated to the fair value of the acquired assets and assumed liabilities, as detailed below. Of this, $6,600 was paid in cash upon closing, and $500 was held back until certain post-acquisition conditions were satisfied. The $500 was recorded as a Current liability in the Consolidated Balance Sheet for the year ended December 31, 2024. The remaining $400 of the total aggregate consideration was contingent on one year of continued service of certain employees, and was expensed over the period within General and administrative in the Consolidated Statements of Operations and Comprehensive Income. During the year ended December 31, 2024, the Company incurred $736 of acquisition costs related to due diligence and valuation, which are included in General and administrative expense within the Consolidated Statements of Operations and Comprehensive Income.

We finalized the valuation of assets acquired and liabilities assumed for the acquisitions during the year ended December 31, 2024. We did not record any measurement period adjustments during the year ended December 31, 2024. The following table summarizes the Company’s allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the acquisition dates:


(In thousands)	July 2024
Cash and cash equivalents	$	5
Other current assets acquired	37
Intangible assets, net
Technology	1,007
Goodwill	6,488
Other liabilities assumed	(437)
Total purchase price	$	7,100

Goodwill is attributable to the assembled workforce, future technologies and general going concern arising from the acquisitions. $3,600 of the goodwill recognized is expected to be deductible for income tax purposes.

During July 2025, the Company completed an acquisition which strengthened its in-house capabilities by bringing onboard additional design and engineering talent. The total aggregate consideration was $34,500, of which $33,100 represents the purchase price allocated to the fair value of the intangible assets and goodwill, as detailed below. The purchase price was paid in cash upon closing, and $1,400 has been held back until certain post-acquisition conditions are satisfied. This $1,400, is contingent on one year of continued service of certain employees, and will be expensed over the period within General and administrative in the Consolidated Statements of Operations and Comprehensive Income. During 2025, the Company incurred $1,338 of acquisition costs related to due diligence and valuation, which are included in General and administrative expense within the Consolidated Statements of Operations and Comprehensive Income.

We finalized the valuation of assets acquired and liabilities assumed for the acquisitions during the year ended December 31, 2025. We did not record any measurement period adjustments during the year

ended December 31, 2025. The following table summarizes the Company’s allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the acquisition date:


(In thousands)	July 2025
Intangible assets, net
Intellectual property	$	8,303
Goodwill	24,797
Total purchase price	$	33,100

Goodwill is attributable to the assembled workforce, expected future technologies, and anticipated synergies arising from the acquisitions. $11,697 of the goodwill recognized is expected to be deductible for income tax purposes.

- Definition

The entire disclosure for business combination.

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+ Details

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic and diluted net income per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities.

Basic net income per share attributable to common stockholders is calculated by dividing the net income by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The diluted net income per share attributable to common stockholders is calculated by giving effect to all potential dilutive common stock equivalents outstanding for the period. The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 20 votes per share. Each share of Class B common stock is convertible into a share of Class A common stock voluntarily at any time by the holder, and automatically upon certain events. The Class A common stock has no conversion rights. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportional basis and the resulting net income per share attributable to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis.


	Year Ended December 31,
(In thousands, except per share data)		2025		2024		2023
Numerator:
Net income attributable to Class A and Class B common stockholders		$	414,065	$	88,574	$	16,067


Denominator:
Weighted-average shares in computing net income per share attributable to Class A and Class B common stockholders, basic		45,773		43,504		41,451
Effect of dilutive securities
Founder awards where performance has been met		360		360		270
Dilutive effect of stock options outstanding (1)		769		1,435		2,774
RSUs outstanding		1,406		1,802		2,027
Denominator for dilutive net income per common share - weighted-average shares		48,308		47,101		46,522
Basic income per common share		$	9.05	$	2.04	$	0.39
Diluted income per common share		$	8.57	$	1.88	$	0.35

______________

INTANGIBLE ASSETS AND GOODWILL - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 10,538
Acquisition	24,797
Ending balance	$ 35,335

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

Intangible assets, net, consist of the following:


(In thousands)	December 31, 2025		December 31, 2024
Capitalized software	$	44,849	$	35,681
Acquired intangible assets	9,310		1,007
Other indefinite-lived intangible assets	252		117
Total intangible assets	54,411		36,805
Less: accumulated amortization	(26,102)		(16,906)
Intangible assets, net	$	28,309	$	19,899

The Company capitalized $9,168 and $9,024 of software development costs, with the majority of the costs being employee wages, during the years ended December 31, 2025 and 2024, respectively. The Company recognized no impairment and $238 of impairment of capitalized software in Research and Development within the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss), during the years ended December 31, 2025 and 2024, respectively, which represents an impairment to write-off the capitalization of an internal-use software project prior to being launched to the user base. Amortization expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income.


	Year Ended December 31,
(In thousands)		2025		2024		2023
Cost of revenues		$	8,658	$	5,310	$	2,020
Sales and marketing		538		579		975
Total		$	9,196	$	5,889	$	2,995

The estimated future amortization expense of capitalized software and acquired technology with definite lives as of December 31, 2025 was as follows:


(In thousands)	Amortization Expense
2026	$	12,084
2027	8,778
2028	4,396
2029	1,726
2030	1,073

Total estimated future amortization expense	$	28,057

The following table represents the changes to goodwill during the twelve months ended December 31, 2025:


	Carrying amount
Balance as of December 31, 2024	$	10,538
Acquisition	24,797
Balance as of December 31, 2025	$	35,335

As of December 31, 2025 and December 31, 2024, $17,720 and $6,923 of goodwill is deductible for tax purposes, respectively.

STOCK-BASED COMPENSATION - Schedule of Income Statement Location for Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 137,437	$ 110,477	$ 95,221
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	96	68	55
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	84,874	60,076	45,119
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	6,358	4,912	3,908
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 46,109	$ 45,421	$ 46,139

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized software development costs	$ 9,168,000	$ 9,024,000
Asset impairment charges	0	0	$ 0
Impairment of capitalized software		238,000
Goodwill, tax deductible amount	$ 17,720,000	$ 6,923,000

LEASES

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

LEASES

The Company has entered into various operating leases for its office space expiring between fiscal 2025 and 2036. Certain lease agreements contain an option for the Company to renew a lease for a term of up to five years. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis.

In February 2024, the Company signed a lease with Bullitt Center LLC for 7,940 square feet of office space in Seattle, Washington. The term of the lease is 63 months beginning on March 1, 2024 and expiring on May 31, 2029.

In March 2024, the Company entered into the First and Second Amendments (the “Amendments”) to the Office Lease Agreement with 5704 Penn Office, LLC (the "Landlord") for office space located at Liberty East (the “Premise”) at 141 South Saint Clair Street, Pittsburgh, Pennsylvania, which, among other things, increased the leased square footage by 110,008 square feet to a total of 148,266 square feet beginning when construction of the leasehold improvements commences in the first half of 2025, with an expiration date of April 30, 2036. Under the terms of the Amendments, the Landlord will provide the Company with an improvement allowance of up to approximately $6,800 for costs relating to the design, permitting, and construction of improvements to the Premise.

In May 2024, the Company signed a lease with Beijing Hengshi Huarong Holding Co., Ltd. for 16,314 square feet of office space in Beijing, China. The term of the lease is 39 months beginning on May 20, 2024 and expiring on July 15, 2027.

In May 2025, the Company entered into an amendment (the “Third Amendment”) to the Office Lease Agreement with 5704 Penn Office, LLC (the "Landlord") for office space located at Liberty East (the “Premise") at 141 South Saint Clair Street, Pittsburgh, Pennsylvania. The Third Amendment grants the Company access to and control of the expansion space to begin tenant improvement work as of the effective date in May 2025.

As a result of obtaining control of the Premise, the lease was recognized on the Company’s balance sheet in the second quarter of 2025 in accordance with ASC 842. $35,592 was recognized as a right-of-use-asset and $38,964 was recognized as a lease liability as part of the amendment on the Company’s Consolidated. Under the terms of the Third Amendment, the Landlord provided the Company with a tenant improvement allowance for costs related to the design, permitting, and construction of improvements to the Premise. As of December 31, 2025, $6,809 related to this allowance was recognized within Consolidated Balance Sheet within Other Assets. The full lease term extends through April 30, 2036, and includes approximately 148,266 square feet of leased space.

The following represents the components of lease cost for the year ended December 31, 2025 and 2024 along with supplemental disclosures of cash flow information, lease term and discount rate:


	Year Ended December 31,
		2025		2024		2023
Operating lease cost		$	12,071	$	9,982	$	7,459
Short term lease cost		365		83		48
Variable lease cost		418		468		252
Total lease cost		$	12,854	$	10,533	$	7,759

Cash paid for amounts included in the measurement of lease liabilities		$	4,598	$	5,727	$	7,512
Right-of-use assets obtained in exchange for new operating lease liabilities		$	39,202	$	33,039	$	—
Right of use assets disposed or adjusted, modifying operating leases liabilities		$	—	$	1,302	$	2,024


	December 31, 2025		December 31, 2024		December 31, 2023
Weighted-average remaining lease term	9 years		9 years		9 years
Weighted-average discount rate	6.91	%	7.16	%	7.38	%

The following table reconciles future minimum undiscounted rental commitments for operating leases to operating lease liabilities recorded on the Consolidated Balance Sheet as of December 31, 2025:


Fiscal year
2026	$	13,931
2027	15,969
2028	14,606
2029	15,053
2030	14,217
Thereafter	64,042
Total undiscounted lease payments	$	137,818
Present value adjustment	(36,835)
Operating lease liabilities	$	100,983

Current lease liabilities of $7,204 and $2,581 are presented within Accrued expenses and other liabilities while non-current lease liabilities of $93,779 and $54,656 are presented within Long-term obligation under operating leases on the Consolidated Balance Sheets as of December 31, 2025 and Consolidated Balance Sheet as of December 31, 2024, respectively.

ACQUISITIONS - Narrative (Details)	1 Months Ended		12 Months Ended
ACQUISITIONS - Narrative (Details)	Jul. 31, 2025 USD ($)	Jul. 31, 2024 USD ($) acquisition	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Business Combination [Line Items]
Business combination adjustments related to previous period				$ 0
Business Acquisition
Business Combination [Line Items]
Total consideration	$ 34,500,000
Total purchase price	33,100,000
Current liability	1,400,000
Acquisition costs			$ 1,338,000
Goodwill recognized is expected to be deductible for income tax	$ 11,697,000
Requisite service period (in years)	1 year
Series of Individually Immaterial Business Acquisitions
Business Combination [Line Items]
Number of businesses acquired \| acquisition		2
Total consideration		$ 7,500,000
Total purchase price		7,100,000
Payments to acquire businesses		6,600,000
Current liability		500,000
Contingent consideration		$ 400,000
Continued service period (in years)		1 year
Acquisition costs				$ 736,000
Goodwill recognized is expected to be deductible for income tax		$ 3,600,000

EARNINGS PER SHARE - Narrative (Details)	12 Months Ended
EARNINGS PER SHARE - Narrative (Details)	Dec. 31, 2025 vote
Common Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Voting rights, per share	1
Common Class B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Voting rights, per share	20

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings— From time to time, the Company may become involved in various legal proceedings in the ordinary course of its business and may be subject to third-party infringement claims. The outcome of any such claims or proceedings, regardless of the merits, is inherently uncertain. The Company is not currently party to any material legal proceedings. Related Parties—During the year ended December 31, 2025, the Company incurred approximately $680 in expenses with a vendor which certain members of the Company’s Board of Directors and executive officers serve as members of the vendor’s board of directors. As of December 31, 2025, approximately $831 remained payable to the vendor. These transactions were conducted in the ordinary course of business on terms the Company believes to be comparable to those available from unaffiliated third parties and were reviewed and approved in accordance with the Company’s related person transaction policy. Letters of Credit— The Company has a standby letter of credit obtained in connection with an operating lease. This letter of credit acts as security for the faithful performance by us of all terms, covenants and conditions of the lease agreement. The amount of the letter of credit is equal to six months rent of $442, totaling $2,656. The cash collateral for the letter of credit has been recognized as restricted cash in the Consolidated Balance Sheet and is equivalent to 103% of the letter of credit and totaled $2,735.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation—The Consolidated Financial Statements include the accounts of the Company and subsidiaries over which the Company has control. All intercompany transactions and balances have been eliminated.

Basis of Presentation Accounting Principles

Basis of Presentation—The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”) from the Company’s accounting records and reflect the consolidated financial position and results of operations for the years ended December 31, 2025, 2024, and 2023. Unless otherwise specified, all dollar amounts (other than per share amounts) are referred to in thousands.

Accounting Principles—The Consolidated Financial Statements and accompanying notes are prepared in accordance with GAAP.

Use of Estimates

Use of Estimates—The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Significant estimates and assumptions reflected in the Consolidated Financial Statements include, but are not limited to, useful lives of property and equipment, valuation of deferred tax assets and liabilities, stock-based compensation, operating lease right-of-use assets and liabilities, capitalization of internally developed software and associated useful lives and contingent liabilities, fair value of investments and valuation of goodwill and intangible assets from acquisitions. Actual results may differ materially from such estimates. Management believes that the estimates, and judgments upon which they rely, are reasonable based upon information available to them at the time that these estimates and judgments are made. To the extent that there are material differences between these estimates and actual results, the Company’s Consolidated Financial Statements will be affected.

Revenue Recognition

Revenue Recognition—The Company has four predominant sources of revenues; time-based subscriptions, in-app advertising placement by third parties, the Duolingo English Test, and In-App Purchases (“IAPs”). Revenue is recognized upon transfer of control of promised products or services to users in an amount that reflects the consideration the Company expects to receive in exchange for those services. The Company does not enter into contracts with a customer that contain multiple promises that

result in multiple performance obligations. Revenue is recorded net of taxes assessed by a government authority that are both imposed on and concurrent with specific revenue transactions between Duolingo and its users.

Revenue from time-based subscriptions includes a stand-ready obligation to provide hosting services that are consumed by the customer over the subscription period. Users can purchase Duolingo monthly or they can purchase a year-long subscription and pay for the subscription at the time of purchase. Under the year-long subscription, users can also purchase a single plan or a family plan. The family plan includes up to six users on one subscription. Such payments are initially recorded to deferred revenue. The user has the ability to download limited content offline. However, as there is a significant level of integration and interdependency with the online functionality, the Company considers the service to be a single performance obligation for the online and offline content.

The Company enters into arrangements with advertising networks to monetize the in-app advertising inventory. Revenue from in-app advertising placement is recognized at a point in time when the advertisement is placed and is based upon the amount received.

Duolingo English Test revenue is generally recognized once the tests have gone through the proctoring process and a certification decision has been made. This process usually takes less than 48 hours after the test has been completed and uploaded. Customers generally have 21 days from the date of purchase to take the exam or their purchase will expire and revenue will be recognized. Virtually all customers complete their exams prior to expiration. Sometimes organizations may purchase tests in bulk via coupons with a one year expiration date. The Company will defer revenue from all tests that have neither been proctored nor expired.

The Company’s users have the option to purchase consumable in-app virtual goods. The Company recognizes revenue over the period in which the user consumes the virtual good, which is generally within a month.

The Company also recognizes revenue from Dos Lenguas LLC “Duo’s”, a restaurant that opened during 2022, in the space adjacent to Duolingo’s headquarters in Pittsburgh. Revenue from Duo’s is recognized at a point in time when the sales are made.

Principal Agent Considerations—The Company makes its application available to be downloaded through third-party digital distribution service providers. Users who purchase subscriptions also pay through the respective app stores. The Company evaluates the purchases via third-party payment processors to determine whether its revenues should be reported gross or net of fees retained by the payment processor. The Company is the principal in the transaction with the end user as a result of controlling, hosting, and integrating the delivery of the virtual items to the end user. The Company records revenue gross as a principal and records fees paid to third-party payment processors as Cost of revenues.

Deferred Revenues—Revenue is recognized over the life of the subscription, or in the case of Duolingo English Test, revenue is recognized when the test is proctored. The Company classifies deferred revenue as a short-term liability on the consolidated balance sheets as the longest subscription plan is for twelve months, and Duolingo English Test purchases must be taken within 21 days.

Cost of Revenues—Cost of revenue predominantly consists of third-party payment processing fees charged by various distribution channel and hosting fees. To a much lesser extent, includes wages and stock-based compensation for certain employees in the capacity of customer support, amortization of revenue generating capitalized software, and depreciation of certain property and equipment.

Deferred Cost of Revenues—Deferred cost of revenue includes third-party payment processing fees amortized over the subscription terms in proportion to the revenue recognized. In situations where fees are charged for subscriptions that exceed one month, costs are deferred and recognized over the life of the subscription and are classified as a current asset. The Company classifies deferred cost of revenue as a short-term asset on the Company’s consolidated balance sheets as the longest subscription plan is for twelve months.

Disaggregation of Revenue

Cash and Cash Equivalents

Cash and Cash Equivalents—Cash consists primarily of cash on hand and bank deposits. Cash equivalents consist primarily of money market accounts with maturities of three months or less at the date of acquisition and are stated at cost, which approximates fair value. The Company maintains cash deposits with financial institutions that may exceed federally insured limits at times.

Investments

Investments —Investments consist primarily of corporate debt securities, U.S. Treasury securities, asset-backed securities, and commercial paper. Management determines the appropriate classification of investments at the time of purchase based upon management’s intent with regard to such investments. The Company’s investments are classified as held-to-maturity at the time of purchase, and such classifications are reevaluated as of each balance sheet date. All highly liquid investments with an original maturity of 90 days or less when purchased are considered to be cash equivalents. Investments with remaining contractual maturities of one year or less from the balance sheet date, which are not considered cash equivalents, are classified as short-term investments, and those with remaining contractual maturities greater than one year from the balance sheet date are classified as long-term investments. All investments are recorded at amortized cost. Realized gains and losses on sales and maturities of investments are determined based on the specific identification method and are recognized in the Consolidated Statements of Operations and Comprehensive Income.

We perform periodic evaluations to determine whether any declines in the fair value of investments below cost are other-than-temporary. The evaluation consists of qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as the Company’s ability and intent to hold the investments until a forecasted recovery occurs. The impairments are considered to be other-than-temporary if they are related to deterioration in credit risk or if it is likely that the underlying securities will be sold or mature prior to a full recovery of their cost basis. Other-than-temporary fair value impairments, if any, are determined based on the specific identification method and are reported in Other income (expense), net in the Consolidated Statements of Operations and Comprehensive Income

Restricted Cash

Restricted Cash—Restricted cash consists of a collateralized letter of credit established in connection with a lease agreement for the Company’s Sub-Sublease in New York, which was signed in December 2023. Restricted cash is included in non-current assets for leases that expire in more than one year from the balance sheet date.

Accounts Receivable

Accounts Receivable—Accounts receivables are reported on the consolidated balance sheets at the outstanding principal amount adjusted for any allowance for credit losses and any charge offs. The Company provides an allowance for credit losses to reduce trade receivables to their estimated net realizable value equal to the amount that is expected to be collected. This allowance is estimated based on historical collection experience, the aging of receivables, specific current and expected future macro-economic and market conditions, and assessments of the current creditworthiness and economic status of customers. The Company considers a receivable delinquent if it is unpaid after the term of the related invoice has expired. Balances that are still outstanding after management has used reasonable collection efforts are written off.

Property and Equipment

Property and Equipment—Property and equipment is stated at cost, less accumulated depreciation. Depreciation is computed on the straight-line method.


Asset Class			Estimated Useful Life
Furniture, fixtures and equipment			4 to 6 years
Leasehold improvements			5 to 10 years

Leasehold improvements are amortized over the lesser of the life of the lease or the estimated useful life of the leasehold improvements. Costs related to maintenance and repairs that do not extend the assets’ useful life are expensed as incurred.

Acquisitions

Acquisitions—The Company uses the acquisition method of accounting for business combination transactions, and, accordingly, recognizes the fair values of assets acquired and liabilities assumed in the Company’s Consolidated Financial Statements. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. Transaction costs related to the acquisition of the acquired company are expensed as incurred. The allocation of fair values may be subject to adjustment after the initial allocation for up to a one-year period as more information becomes available relative to the fair values as of the acquisition date. The Consolidated Financial Statements include the results of operations of any acquired company since the acquisition date.

Goodwill

Goodwill—The Company recognizes the excess of the purchase price over the fair value of identifiable net assets acquired at the acquisition date as goodwill. Goodwill is not amortized but is reviewed for impairment annually and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. The Company will review goodwill for impairment annually on October 1st of each fiscal year or whenever events or changes in circumstances indicate that an impairment may exist. The Company will first perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. If the reporting unit does not pass the qualitative assessment, then the reporting unit’s carrying value is compared to its fair value. If the fair value of the reporting unit is greater than the reporting unit’s carrying value, then the carrying value of the reporting unit is deemed to be recoverable. If the carrying value of the reporting unit is greater than the reporting unit’s fair value, goodwill is impaired and written down to the reporting unit’s fair value.

Intangible Assets

Intangible Assets—The Company’s intangible assets consist of capitalized software, acquired technology and other intangible assets during the years ended December 31, 2025 and 2024. The Company develops software for internal use and capitalizes the software development costs incurred during the application development stage. Costs incurred prior to and after the application development stage are charged to expense. When the software is ready for its intended use, capitalization ceases and such costs are amortized on a straight-line basis over the estimated life, which is generally three years. Relatively minor upgrades, enhancements and maintenance to the platform are expensed as incurred.

Income Taxes

Income Taxes—The Company provides for income taxes in accordance with the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities for financial reporting and for income tax reporting. The deferred tax asset or liability represents the future tax return consequences of those difference, which will either be taxable or deductible when the assets and liabilities are recovered or settled. A valuation allowance is established for any deferred tax asset for which it is determined that it is more likely than not that some or all of the deferred tax assets will not be realized. The Company limits the deferred tax assets recognized related to certain officers’ compensation

to amounts that it estimates will be deductible in future periods based upon Internal Revenue Code (“IRC”) Section 162(m).

The Company utilizes a two-step approach to recognizing and measuring uncertain tax positions accounted for in accordance with the asset and liability method. The first step is to evaluate the tax position for recognition by determining whether evidence indicates that it is more likely than not that a position will be sustained if examined by a taxing authority.

The second step is to measure the tax benefit as the largest amount that is 50% likely of being realized upon settlement with a tax authority.

Foreign Currency

Foreign Currency—The functional currency of the Company and its subsidiaries is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net loss for the year. The Company has not, to the date of these Consolidated Financial Statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

Fair Value of Financial Instruments

Fair Value of Financial Instruments—The Company accounts for certain assets and liabilities at fair value in accordance with the accounting guidance applicable to fair value measurements and disclosures. The carrying values of cash, cash equivalents, accounts receivable, accounts payable, and accrued expenses are deemed to be reasonable estimates of their fair values because of their short-term nature.

Research and Development Costs

Research and Development Costs—Research and development expenses are incurred as the Company maintains and enhances its software and evaluates and develops other potential applications. Such expenses include compensation of engineering, product design and testing personnel, including stock-based compensation, materials, travel and direct costs associated with the design and required testing of our platform and depreciation of certain property and equipment.

Sales and Marketing

Sales and Marketing—Sales and marketing expenses are expensed as incurred and consists primarily of new user acquisition, brand marketing, digital and social media content, and employee-related compensation, including stock-based compensation, for personnel engaged in sales and marketing functions, amortization of non-revenue generating capitalized software used to promote Duolingo and depreciation of certain property and equipment.

General and Administrative

General and Administrative—General and administrative expense primarily consists of employee-related compensation (including stock-based compensation) for management and administrative functions, including our finance and accounting, legal, and people teams. General and administrative expense also includes certain professional services fees, general corporate and director and officer insurance, facilities costs, and other general overhead costs that support our operations, and depreciation of certain property and equipment.

Concentration of Credit Risk

Concentration of Credit Risk—The Company’s concentration of credit risk relates to financial institutions holding the Company’s cash and cash equivalents and platforms with significant accounts receivable balances and revenue transactions.

The Company maintains cash deposits with financial institutions that may exceed federally insured limits at times. Management believes that the financial institutions that hold the Company’s deposits are financially credit worthy and, accordingly, minimal credit risk exists with respect to those balances.

Stock-Based Compensation

Stock-Based Compensation—The Company accounts for equity-based compensation using the fair value method as set forth in the ASC 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based payment awards based on estimated fair values. This method requires companies to estimate the fair value of stock-based compensation on the date of grant using an option pricing model when granting options. Historically, the Company has estimated the fair value of each option award on the date of grant using the Black-Scholes pricing model.

The Black-Scholes model determines the fair value of equity-based payment awards based on the fair value of the underlying common stock on the date of grant and requires the use of estimates and assumptions, including the fair value of the Company’s common stock, exercise price of the stock option, expected volatility, expected life, risk-free interest rate and dividend rate. The Company estimated the expected volatility of its stock options by taking the average historical volatility of a group of comparable publicly traded companies over a period equal to the expected life of the options; it was not practical for the Company to estimate its own volatility due to the lack of historical prices. The expected term of the options was determined in accordance with existing equity agreements as the underlying options are assumed to be exercised upon the passage of time. The risk-free interest rate was the estimated average interest rate based on U.S. Treasury zero-coupon notes with terms consistent with the expected life of the awards. The expected dividend yield is zero as the Company has not anticipated paying any recurring cash dividends in the foreseeable future. The Company accounts for forfeitures as they occur.

Restricted Stock Units (RSUs)

The Company began to grant RSUs in November 2020. The fair value of RSUs is estimated based on the fair value of the Company’s common stock on the date of grant. Generally, the service-based vesting condition for the majority of these awards is satisfied over four years.

Performance-based RSUs

In June 2021, the Company granted 1,800 (one million eight-hundred thousand) performance-based RSUs to the Company’s founders (“Founder Awards”). The Founder Awards are divided into ten equal tranches with each tranche becoming eligible to vest upon achievement of the specified stock-price hurdles. The Founder Awards vest upon the satisfaction of both a service-based condition and a performance-based condition and generally are settled one year after vesting. The service-based condition is satisfied as to 25% of the Founder Awards on each anniversary of the completion of the IPO, subject to the continuous service of the founders through the applicable date. The fair value of the Founder Awards is determined using a Monte Carlo simulation model. The associated stock-based compensation is recorded over the derived service period, using the accelerated attribution method. If the stock-price hurdles are met sooner than the requisite service period, the stock-based compensation expense will be adjusted to prospectively recognize the remaining expense over the remaining derived service period. Provided that the founders continue to provide services to us, stock-based compensation expense is recognized over the derived service period, regardless of whether the stock-price hurdles are

achieved. The first and second tranches were met during the year ended December 31, 2021.

Contingencies

Contingencies—The Company records accruals for contingencies and legal proceedings expected to be incurred in connection with a loss contingency when it is probable that a liability has been incurred and the amount can be reasonably estimated.

If a loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability, together with an estimate of the range of possible loss, would be disclosed.

Segment

Segment—The Company operates as a single operating segment and derives revenues from customers through time-based subscriptions, in-app advertising placement by third parties, the Duolingo English Test, and In-App Purchases. The Chief Executive Officer, as the chief operating decision maker, evaluates the Company’s performance and allocates resources based on consolidated net income, as presented in the income statement, supplemented by disaggregated revenue details. Significant segment expenses are those that are presented on the Consolidated Statements of Operations and Comprehensive Income. The measure of segment assets is reported on the balance sheet as total consolidated assets. Accordingly, the Company has determined that it has a single reportable segment and operating segment structure, and operates as one reporting unit.

Leases

Leases—The Company accounts for leases in accordance with ASC 842, Leases, which requires virtually all leases, other than leases that meet the definition of a short-term lease, to be recorded on the balance sheet with a right-of-use (“ROU”) asset and corresponding lease liability. ROU assets are periodically reviewed for impairment whenever events or changes in circumstances arise. During the years ended December 31, 2025, 2024 and 2023, the Company incurred no impairment charges on ROU assets.

On the lease commencement date, each lease is classified as either finance or operating, depending on certain criteria. The Company determined that it only has operating leases as none of the criteria for finance lease classification were met. Operating lease expense is recognized on a straight-line basis on the Consolidated Statements of Operations and Comprehensive Income in General and administrative expenses. On the Consolidated Statements of Changes in Cash Flows, payments for operating leases, are included in operating activities. As an accounting policy election, the Company has elected to not separate lease and non-lease components for all asset classes and made an accounting policy election for short-term leases which does not require the capitalization of leases with terms of 12 months or less at lease commencement. The discount rate utilized in calculating the lease liability is the rate implicit in the lease, if known; otherwise, the incremental borrowing rate (“IBR”) for the expected lease term is used. The Company’s IBR approximates the rate the Company would have to pay, on a collateralized basis, to borrow an amount equal to the lease payments under similar terms.

Impairment of long-lived assets

Impairment of long-lived assets— The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated undiscounted future cash flows expected to result from the use and eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset.

Allowance for Credit Losses

Allowance for Credit Losses—The Company evaluates its cash equivalents, accounts receivable and held-to-maturity marketable securities financial assets for expected credit losses. Expected credit losses represent the portion of the amortized cost basis of a financial asset that an entity does not expect to collect. An allowance for expected credit losses is meant to reflect a risk of loss even if remote, irrespective of the expectation of collection from a particular issuer or debt security. The Company has not historically experienced any credit losses on any of its financial assets.

With respect to cash equivalents and accounts receivable, given consideration of their short maturity, lack of historical losses and the current environment, the Company concluded there is generally no expected credit losses for these financial assets. With respect to held-to-maturity marketable securities which are comprised of debt securities, the Company evaluates expected credit losses on a pooled basis based on issuer-type which have similar credit risk characteristics. The allowance for credit losses is immaterial for all periods presented.

Recently Issued Pronouncements Not Yet Adopted and Recently Adopted Accounting Pronouncements

Recently Issued Pronouncements Not Yet Adopted

There are no recently issued accounting pronouncements that the Company has not yet adopted that they believe are applicable or would have a material impact on the financial statements of the Company.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendment requires new financial statement disclosures to provide disaggregated information for certain types of expenses, including employee compensation, depreciation, and amortization in commonly presented expense captions such as cost of revenue, sales and marketing, and general and administrative expenses. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The amendments in this update remove all references to prescriptive and sequential software development stages (referred to as “project stages”) throughout Subtopic 350-40.The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. The Company is in the process of evaluating the effect that the adoption of this standard may have on its consolidated financial statements.

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740), which includes improvements to income tax disclosures. The standard is effective for public entities in fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted this guidance on a prospective basis effective January 1, 2025. Refer to our discussion under the Note 9 “Income Taxes” footnote.

Fair Value

FAIR VALUE

equivalents, accounts receivable, accounts payable, and accrued expenses are deemed to be reasonable estimates of their fair values because of their short-term nature.

Level 1—Observable inputs such as quoted prices in active markets for identical investments that the Company has the ability to access.

Level 2—Inputs include:

•Quoted prices for identical or similar assets or liabilities in active markets;

•Quoted prices for identical or similar assets or liabilities in inactive markets;

•Inputs, other than quoted prices in active markets, which are observable either directly or indirectly;

•Inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.

PROPERTY and EQUIPMENT, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 57,868	$ 35,353
Less: accumulated depreciation	(21,571)	(16,410)
Total property and equipment, net	36,297	18,943
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	44,773	26,938
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 13,095	$ 8,415

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Cash paid for income taxes	$ 14,357,000	$ 7,620,000	$ 2,320,000
Release of valuation allowances	256,728,000	0
Deferred tax assets, operating loss carryforwards	111,199,000
Operating loss carryforwards	72,425,000
Business credits	76,419,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

INCOME TAXES - Effective Income Tax Rate Reconciliation Percent (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Expected income tax expense at federal statutory rate	21.00%	21.00%	21.00%
State taxes, net of Federal income tax effect	(9.80%)	(3.80%)	(35.10%)
Equity compensation	(44.90%)	(97.90%)	(208.40%)
Meals and entertainment	1.60%	1.20%	5.60%
Foreign-Derived Intangible Income deduction		(13.50%)	(13.40%)
Other permanent adjustments	0.50%	1.80%	2.20%
Research and development credit		(23.50%)	(76.40%)
Valuation allowance	(128.00%)	70.00%	257.60%
Effective income tax rate	(127.00%)	13.40%	9.60%

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Restricted stock units
Beginning balance (in shares)	1,406	1,802
Granted (in shares)	598
Released (in shares)	(836)
Forfeited (in shares)	(158)
Ending balance (in shares)	1,406
Weighted- average grant date fair value per share
Beginning balance (in usd per share)	$ 143.96
Granted (in usd per share)	391.09
Released (in usd per share)	140.38
Forfeited (in usd per share)	217.11
Ending balance (in usd per share)	$ 242.94

LEASES - Schedule of Future Minimum Rental Payments for Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2025	May 31, 2025
Leases [Abstract]
2026	$ 13,931
2027	15,969
2028	14,606
2029	15,053
2030	14,217
Thereafter	64,042
Total undiscounted lease payments	137,818
Present value adjustment	(36,835)
Operating lease liabilities	$ 100,983	$ 38,964

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Useful Life (Details)	Dec. 31, 2025
Furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	4 years
Furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	6 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	10 years

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 27,541	$ 4,491
Section 174 research and development capitalization	118,009	190,768
Research and development credits	74,943	61,198
Lease liability	22,201	13,004
Stock-based compensation	6,881	4,755
Marketing and advertising	1,124	674
Sales tax / Value added tax ("VAT") reserve	905	560
Other deferred tax assets	516	70
Valuation allowance	0	(256,728)	$ (156,870)
Total deferred tax assets	252,120	18,792
ROU asset	(17,551)	(10,757)
Capitalized software	(4,251)	(4,444)
Property and equipment	(2,440)	(2,885)
Other deferred tax liabilities	(788)	(322)
Total deferred tax liabilities	(25,030)	(18,408)
Net deferred taxes	$ 227,090	$ 384

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, New York
Auditor Firm ID	34

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified And Allocation of the Purchase Consideration Based on the Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the Company’s allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the acquisition dates:


(In thousands)	July 2024
Cash and cash equivalents	$	5
Other current assets acquired	37
Intangible assets, net
Technology	1,007
Goodwill	6,488
Other liabilities assumed	(437)
Total purchase price	$	7,100

The following table summarizes the Company’s allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the acquisition date:


(In thousands)	July 2025
Intangible assets, net
Intellectual property	$	8,303
Goodwill	24,797
Total purchase price	$	33,100

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Principles—The Consolidated Financial Statements and accompanying notes are prepared in accordance with GAAP.

Property and Equipment—Property and equipment is stated at cost, less accumulated depreciation. Depreciation is computed on the straight-line method.


Asset Class			Estimated Useful Life
Furniture, fixtures and equipment			4 to 6 years
Leasehold improvements			5 to 10 years

to amounts that it estimates will be deductible in future periods based upon Internal Revenue Code (“IRC”) Section 162(m).

The second step is to measure the tax benefit as the largest amount that is 50% likely of being realized upon settlement with a tax authority. There were no amounts recorded at December 31, 2025 and December 31, 2024 related to uncertain tax positions.

The majority of our revenue comes through our subscriptions and advertising streams and payments are made to Duolingo through service providers. The top three service providers, Apple, Google, and Stripe accounted for 62.5% and 22.7%, and 11.4% of total Accounts receivable as of December 31, 2025, respectively. The top two service providers, Apple and Google, accounted for 64.7%, 21.2% and of total Accounts receivable as of December 31, 2024, respectively.

Restricted Stock Units (RSUs)

Performance-based RSUs

achieved. The first and second tranches were met during the year ended December 31, 2021. The third and fourth tranches were met during the year ended December 31, 2023. The fifth and sixth tranches were met during the year ended December 31, 2024. The seventh and eighth tranches were met during the year ended December 31, 2025. The Company recognized $11,059, $19,799 and $26,622 of stock-based compensation expense related to these awards, during the years ended December 31, 2025, 2024 and 2023, respectively, which is included within General and administrative in the Consolidated Statements of Operations and Comprehensive Income.

impairment for the years ended December 31, 2025 and 2023, which represents an impairment to write-off the capitalization of an internal-use software project prior to being launched to the user base.

Recently Issued Pronouncements Not Yet Adopted

Recently Adopted Accounting Pronouncements

SUBSEQUENT EVENTS (Details)	Feb. 26, 2026 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Share repurchase program, authorized, amount	$ 400,000,000

EMPLOYEE BENEFIT PLAN	12 Months Ended
EMPLOYEE BENEFIT PLAN	Dec. 31, 2025
Postemployment Benefits [Abstract]
EMPLOYEE BENEFIT PLAN	EMPLOYEE BENEFIT PLAN The Company sponsors a profit sharing plan with a 401(k) feature, the Duolingo Retirement Plan (the “Plan”), for eligible employees. The current Plan, effective January 1, 2021, provides for Company safe harbor matching contributions of 100% of the first 4% of the employees’ elective deferrals and 50% of the next 2%, with vesting starting upon the first day of employment. The Company also has the option to make discretionary matching or profit sharing contributions. The Company made safe harbor matching contributions of approximately $8,298, $6,965, $5,908 and during the years ended December 31, 2025, 2024, and 2023, respectively. The Company did not make any discretionary matching or profit sharing contributions during the years ended December 31, 2025, 2024, or 2023.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) shares in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2021 shares	Dec. 31, 2025 USD ($) language user tranche reporting_unit shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Number of languages, more than \| language		250
Number of users \| user		6
Number of days to take exam		21 days
Advertising costs		$ 86,872,000	$ 62,373,000	$ 52,969,000
Stock based compensation expense		$ 137,437,000	110,477,000	95,221,000
Number of reporting units \| reporting_unit		1
Impairment of capitalized software			238,000
Asset impairment charges		$ 0	0	0
RSUs outstanding
Concentration Risk [Line Items]
Vesting period (in years)		4 years
Equity instruments other than options, grants in period (in shares) \| shares		598
Founder awards where performance has been met
Concentration Risk [Line Items]
Stock based compensation expense		$ 11,059,000	$ 19,799,000	$ 26,622,000
Founder awards where performance has been met \| Founders
Concentration Risk [Line Items]
Equity instruments other than options, grants in period (in shares) \| shares	1,800
Number of tranches \| tranche		10
Apple \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (in percent)		62.50%	64.70%
Google \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (in percent)		22.70%	21.20%
Stripe \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (in percent)		11.40%
Capitalized Software
Concentration Risk [Line Items]
Estimated useful life (in years)		3 years

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized software	$ 44,849	$ 35,681
Acquired intangible assets	9,310	1,007
Other indefinite-lived intangible assets	252	117
Total intangible assets	54,411	36,805
Less: accumulated amortization	(26,102)	(16,906)
Intangible assets, net	$ 28,309	$ 19,899

LEASES (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Components of Lease Cost

The following represents the components of lease cost for the year ended December 31, 2025 and 2024 along with supplemental disclosures of cash flow information, lease term and discount rate:


	Year Ended December 31,
		2025		2024		2023
Operating lease cost		$	12,071	$	9,982	$	7,459
Short term lease cost		365		83		48
Variable lease cost		418		468		252
Total lease cost		$	12,854	$	10,533	$	7,759

Cash paid for amounts included in the measurement of lease liabilities		$	4,598	$	5,727	$	7,512
Right-of-use assets obtained in exchange for new operating lease liabilities		$	39,202	$	33,039	$	—
Right of use assets disposed or adjusted, modifying operating leases liabilities		$	—	$	1,302	$	2,024


	December 31, 2025		December 31, 2024		December 31, 2023
Weighted-average remaining lease term	9 years		9 years		9 years
Weighted-average discount rate	6.91	%	7.16	%	7.38	%

Schedule of Future Minimum Rental Payments for Operating Leases

The following table reconciles future minimum undiscounted rental commitments for operating leases to operating lease liabilities recorded on the Consolidated Balance Sheet as of December 31, 2025:


Fiscal year
2026	$	13,931
2027	15,969
2028	14,606
2029	15,053
2030	14,217
Thereafter	64,042
Total undiscounted lease payments	$	137,818
Present value adjustment	(36,835)
Operating lease liabilities	$	100,983

PROPERTY and EQUIPMENT, net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY and EQUIPMENT, net

Property and equipment, net, consists of the following:



(In thousands)	December 31, 2025		December 31, 2024
Leasehold improvements	$	44,773	$	26,938
Furniture, fixtures and equipment	13,095		8,415
Total property and equipment	57,868		35,353
Less: accumulated depreciation	(21,571)		(16,410)
Total property and equipment, net	$	36,297	$	18,943

Depreciation expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income.


	Year Ended December 31,
(In thousands)		2025		2024		2023

Research and development		$	3,328	$	2,358	$	1,650
Sales and marketing		399		281		190
General and administrative		1,468		2,326		2,260
Total		$	5,195	$	4,965	$	4,100

INCOME TAXES - Schedule of Income (Loss) Before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ 167,873	$ 97,051	$ 16,501
Foreign	14,537	5,255	1,276
Income before income taxes	$ 182,410	$ 102,306	$ 17,777

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

ACQUISITIONS - Schedule of Allocation of the Purchase Consideration Based on the Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Jul. 31, 2025	Dec. 31, 2024
Intangible assets, net
Goodwill	$ 35,335		$ 10,538
Business Acquisition
Intangible assets, net
Intellectual property		$ 8,303
Goodwill		24,797
Total purchase price		$ 33,100

- Definition

+ References

+ Details

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Other Commitments [Line Items]
Period of letter of credit (in months)	6 months
Initial base rent per month	$ 442
Letters of credit	$ 2,656
Percentage of letter of credit (in percent)	103.00%
Restricted cash	$ 2,735	$ 2,735
Board of Directors Chairman
Other Commitments [Line Items]
Vendor expenses	680
Related party transaction	$ 831

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2025	Dec. 31, 2024
Common Class A
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000	2,000,000
Common stock, shares issued (in shares)	40,368	38,730
Common stock, shares outstanding (in shares)	40,368	38,730
Common Class B
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	30,000	30,000
Common stock, shares issued (in shares)	6,260	6,206
Common stock, shares outstanding (in shares)	6,260	6,206

INCOME TAXES - Provision of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current Federal, State and Local, Tax Expense (Benefit) [Abstract]
Federal	$ (6,243)	$ 10,652	$ 895
State	(313)	2,639	607
Foreign	1,630	284	341
Current Income Tax Expense (Benefit), Total	(4,926)	13,575	1,843
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	(207,587)	0	0
State	(17,556)	0	0
Foreign	(1,586)	157	(133)
Total	(226,729)	157	(133)
(Benefit from) provision for income taxes	$ (231,655)	$ 13,732	$ 1,710

ACQUISITIONS - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Jul. 31, 2024
Business Combination [Line Items]
Goodwill	$ 35,335	$ 10,538
Series of Individually Immaterial Business Acquisitions
Business Combination [Line Items]
Cash and cash equivalents			$ 5
Other current assets acquired			37
Technology			1,007
Goodwill			6,488
Other liabilities assumed			(437)
Total purchase price			$ 7,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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FAIR VALUE - Schedule of Net Unrealized Gains (Losses), and Fair Value by Major Security Type for Our Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash	$ 155,840	$ 73,351
Gross Unrealized Gains	435	21
Gross Unrealized Losses	(19)	(571)
Amortized Cost	1,118,326	901,186
Fair Value	1,275,982	975,386
Short-term investments	104,078	91,854
Cash and cash equivalents	1,036,389	785,791
Long-Term Investments	135,098	98,292
Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gross Unrealized Gains	0	2
Gross Unrealized Losses	0	(1)
Amortized Cost	882,874	728,099
Fair Value	882,874	728,101
Level 1 \| Cash Equivalents
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash Equivalents	880,549	712,440
Level 1 \| Short-Term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments	2,324	15,659
Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	235,452	173,087
Gross Unrealized Gains	435	19
Gross Unrealized Losses	(19)	(570)
Fair Value	235,868	172,534
Short-term investments	101,754	76,195
Long-term investments	133,698	96,892
Level 2 \| Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	26,794	16,280
Gross Unrealized Gains	44	10
Gross Unrealized Losses	0	(1)
Fair Value	26,838	16,289
Short-term investments	347	697
Long-term investments	26,447	15,583
Level 2 \| Certificates of deposit
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost		11,521
Gross Unrealized Gains		0
Gross Unrealized Losses		(14)
Fair Value		11,507
Short-term investments		11,521
Level 2 \| Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	182,417	126,031
Gross Unrealized Gains	237	7
Gross Unrealized Losses	(19)	(494)
Fair Value	182,635	125,543
Short-term investments	93,997	55,013
Long-term investments	88,420	71,018
Level 2 \| U.S. Treasury securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	26,241	19,255
Gross Unrealized Gains	154	2
Gross Unrealized Losses	0	(61)
Fair Value	26,395	19,195
Short-term investments	7,410	8,964
Long-term investments	18,831	10,291
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in SAFE	1,400	1,400
Commercial paper \| Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	4,318	15,659
Fair Value	4,318	15,661
Commercial paper \| Level 1 \| Cash Equivalents
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash Equivalents	1,993	0
Commercial paper \| Level 1 \| Short-Term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments	2,324	15,659
Money market funds \| Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash Equivalents	878,556	712,440
Money market funds \| Level 1 \| Cash Equivalents
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash Equivalents	$ 878,556	$ 712,440

PROPERTY and EQUIPMENT, net - Schedule of Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total	$ 5,195	$ 4,965	$ 4,100
Research and development
Property, Plant and Equipment [Line Items]
Total	3,328	2,358	1,650
Sales and marketing
Property, Plant and Equipment [Line Items]
Total	399	281	190
General and administrative
Property, Plant and Equipment [Line Items]
Total	$ 1,468	$ 2,326	$ 2,260

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Details)	Dec. 31, 2025 language
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of languages, more than	250

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Net Unrealized Gains (Losses), and Fair Value by Major Security Type for Our Investments

The following table presents amortized cost, gross unrealized gains and losses, and fair value by major security type and balance sheet classification as of December 31, 2025 and December 31, 2024:


As of December 31, 2025
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	—	$	—	$	—	$	155,840	$	155,840	$	—	$	—

Level 1
Commercial paper	$	4,318	$	—	$	—	$	4,318	$	1,993	$	2,324	$	—
Money market funds	878,556		—		—		878,556		878,556		—		—
Subtotal	$	882,874	$	—	$	—	$	882,874	$	880,549	$	2,324	$	—

Level 2
Asset-backed securities	$	26,794	$	44	$	—	$	26,838	$	—	$	347	$	26,447

Corporate debt securities	182,417		237		(19)		182,635		—		93,997		88,420
U.S. Treasury securities	26,241		154		—		26,395		—		7,410		18,831
Subtotal	$	235,452	$	435	$	(19)	$	235,868	$	—	$	101,754	$	133,698

Level 3
Investment in SAFE	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Subtotal	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Total	$	1,118,326	$	435	$	(19)	$	1,275,982	$	1,036,389	$	104,078	$	135,098


As of December 31, 2024
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Short-Term Investments		Long-Term Investments
Cash	$	—	$	—	$	—	$	73,351	$	73,351	$	—	$	—

Level 1
Commercial paper	$	15,659	$	2	$	(1)	$	15,661	$	—	$	15,659	$	—
Money market funds	712,440		—		—		712,440		712,440		—		—
Subtotal	$	728,099	$	2	$	(1)	$	728,101	$	712,440	$	15,659	$	—

Level 2
Asset-backed securities	$	16,280	$	10	$	(1)	$	16,289	$	—	$	697	$	15,583
Certificates of deposit	11,521		—		(14)		11,507		—		11,521		—
Corporate debt securities	126,031		7		(494)		125,543		—		55,013		71,018
U.S. Treasury securities	19,255		2		(61)		19,195		—		8,964		10,291
Subtotal	$	173,087	$	19	$	(570)	$	172,534	$	—	$	76,195	$	96,892

Level 3
Investment in SAFE	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Subtotal	$	—	$	—	$	—	$	1,400	$	—	$	—	$	1,400
Total	$	901,186	$	21	$	(571)	$	975,386	$	785,791	$	91,854	$	98,292

EARNINGS PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net income attributable to Class A and Class B common stockholders	$ 414,065	$ 88,574	$ 16,067
Effect of dilutive securities
Denominator for dilutive net income per common share - weighted-average shares (in shares)	48,308	47,101	46,522
Basic income per common share (in usd per share)	$ 9.05	$ 2.04	$ 0.39
Diluted income per common share (in usd per share)	$ 8.57	$ 1.88	$ 0.35
Options outstanding (in shares)	859	1,523
Founder awards where performance has been met
Effect of dilutive securities
Stock options and RSUs outstanding (in shares)	360	360	270
Stock options outstanding
Effect of dilutive securities
Stock options and RSUs outstanding (in shares)	769	1,435	2,774
RSUs outstanding
Effect of dilutive securities
Stock options and RSUs outstanding (in shares)	1,406	1,802	2,027
Class A and Class B Common Stock
Numerator:
Net income attributable to Class A and Class B common stockholders	$ 414,065	$ 88,574	$ 16,067
Denominator:
Weighted-average shares in computing net income per share attributable to Class A and Class B common stockholders, basic (in shares)	45,773	43,504	41,451

INCOME TAXES - Cash Paid for Taxes, Net of Refunds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Federal	$ 9,700
State	3,955
Foreign	702
Total cash paid for income taxes, net of refunds	$ 14,357	$ 7,620	$ 2,320

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on various cybersecurity frameworks and guidelines. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use these frameworks and guidelines as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall risk management program, and shares common methodologies, reporting channels and governance processes that apply across the risk management program to other legal, compliance, strategic, operational, and financial risk areas. Key elements of our cybersecurity risk management program include the following: •risk assessments designed to help identify material risks from cybersecurity threats to our critical systems and information; •a dedicated information security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; •the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes and controls; •cybersecurity awareness training of our employees, including incident response personnel, and senior management; •a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and •a third-party risk management process for key service providers based on our assessment of their criticality to our operations and respective risk profile. We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, financial condition, or results of operations. We face risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, financial condition, or results of operations. See Part I, Item 1A. “Risk Factors—Risks Relating to Our Business and Industry – Security breaches of our IT Systems, improper or unauthorized access to or disclosure of our Confidential Information, other hacking and social engineering or phishing attacks on our IT Systems or service, or other cyber incidents could disrupt our services or compromise Confidential Information related to our business and expose us to liability, which could harm our reputation and materially adversely affect our business.”.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on various cybersecurity frameworks and guidelines. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use these frameworks and guidelines as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall risk management program, and shares common methodologies, reporting channels and governance processes that apply across the risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and is assisted by its Audit Committee (the "Committee"), which regularly reviews our cybersecurity program with management and reports to the Board. Cybersecurity reviews by the Committee generally occur quarterly or more frequently as determined to be advisable. Committee members also receive presentations on cybersecurity topics and trends from our Information Security Management Leader, internal cybersecurity staff or external experts as part of the Committee's continuing education on topics that impact public companies. Our management team oversees our cybersecurity risk management through our Information Security Management System Governance Council, which is chaired by our Information Security Management Leader and includes our Chief Technology Officer, Chief Engineering Officer, and General Counsel, along with employee subject matter experts in law, privacy, engineering, and cybersecurity. This Governance Council also includes our Head of Information Security, who with our dedicated Information Security Team, manages the day-to-day activities needed to prevent, detect, and mitigate cybersecurity incidents, and reports to senior management through the Governance Council. This Head of Information Security has served in various roles within the cybersecurity field for over 15 years, including security leadership roles in multiple organizations and holds an undergraduate degree in information security and forensics. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and is assisted by its Audit Committee (the "Committee"), which regularly reviews our cybersecurity program with management and reports to the Board.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Committee members also receive presentations on cybersecurity topics and trends from our Information Security Management Leader, internal cybersecurity staff or external experts as part of the Committee's continuing education on topics that impact public companies.
Cybersecurity Risk Role of Management [Text Block]	Our management team oversees our cybersecurity risk management through our Information Security Management System Governance Council, which is chaired by our Information Security Management Leader and includes our Chief Technology Officer, Chief Engineering Officer, and General Counsel, along with employee subject matter experts in law, privacy, engineering, and cybersecurity. This Governance Council also includes our Head of Information Security, who with our dedicated Information Security Team, manages the day-to-day activities needed to prevent, detect, and mitigate cybersecurity incidents, and reports to senior management through the Governance Council. This Head of Information Security has served in various roles within the cybersecurity field for over 15 years, including security leadership roles in multiple organizations and holds an undergraduate degree in information security and forensics. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our management team oversees our cybersecurity risk management through our Information Security Management System Governance Council, which is chaired by our Information Security Management Leader and includes our Chief Technology Officer, Chief Engineering Officer, and General Counsel, along with employee subject matter experts in law, privacy, engineering, and cybersecurity.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	This Governance Council also includes our Head of Information Security, who with our dedicated Information Security Team, manages the day-to-day activities needed to prevent, detect, and mitigate cybersecurity incidents, and reports to senior management through the Governance Council. This Head of Information Security has served in various roles within the cybersecurity field for over 15 years, including security leadership roles in multiple organizations and holds an undergraduate degree in information security and forensics.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Dec. 31, 2022		40,361
Beginning balance at Dec. 31, 2022	$ 542,078	$ 4	$ 772,562	$ (230,488)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Stock-based compensation expense	95,221		95,221
Release of performance stock units (in shares)		180
Taxes paid related to net-share settlements of share-based compensation awards ( in shares)		(84)
Taxes paid related to net-share settlements of share-based compensation awards	(11,482)		(11,482)
Stock options exercised (in shares)		1,396
Stock options exercised	13,617		13,617
Release of restricted stock units (in shares)		673
Net income	16,067			16,067
Ending balance (in shares) at Dec. 31, 2023		42,526
Ending balance at Dec. 31, 2023	655,501	$ 4	869,918	(214,421)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Stock-based compensation expense	110,477		110,477
Release of performance stock units (in shares)		270
Taxes paid related to net-share settlements of share-based compensation awards ( in shares)		(143)
Taxes paid related to net-share settlements of share-based compensation awards	(49,358)		(49,358)
Stock options exercised (in shares)		1,462
Stock options exercised	19,356		19,356
Release of restricted stock units (in shares)		821
Net income	88,574			88,574
Ending balance (in shares) at Dec. 31, 2024		44,936
Ending balance at Dec. 31, 2024	824,550	$ 4	950,393	(125,847)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Stock-based compensation expense	137,437		137,437
Release of performance stock units (in shares)		360
Taxes paid related to net-share settlements of share-based compensation awards ( in shares)		(168)
Taxes paid related to net-share settlements of share-based compensation awards	$ (41,617)		(41,617)
Stock options exercised (in shares)	664	664
Stock options exercised	$ 12,571	$ 1	12,570
Release of restricted stock units (in shares)		836
Net income	414,065			414,065
Ending balance (in shares) at Dec. 31, 2025		46,628
Ending balance at Dec. 31, 2025	$ 1,347,006	$ 5	$ 1,058,783	$ 288,218

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2026	$ 12,084
2027	8,778
2028	4,396
2029	1,726
2030	1,073
Total estimated future amortization expense	$ 28,057

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets, Net

Intangible assets, net, consist of the following:


(In thousands)	December 31, 2025		December 31, 2024
Capitalized software	$	44,849	$	35,681
Acquired intangible assets	9,310		1,007
Other indefinite-lived intangible assets	252		117
Total intangible assets	54,411		36,805
Less: accumulated amortization	(26,102)		(16,906)
Intangible assets, net	$	28,309	$	19,899

Schedule of Intangible Assets Amortization Expense

Amortization expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income.


	Year Ended December 31,
(In thousands)		2025		2024		2023
Cost of revenues		$	8,658	$	5,310	$	2,020
Sales and marketing		538		579		975
Total		$	9,196	$	5,889	$	2,995

Schedule of Intangible Assets, Future Amortization Expense

The estimated future amortization expense of capitalized software and acquired technology with definite lives as of December 31, 2025 was as follows:


(In thousands)	Amortization Expense
2026	$	12,084
2027	8,778
2028	4,396
2029	1,726
2030	1,073

Total estimated future amortization expense	$	28,057

Schedule of Changes to Goodwill

The following table represents the changes to goodwill during the twelve months ended December 31, 2025:


	Carrying amount
Balance as of December 31, 2024	$	10,538
Acquisition	24,797
Balance as of December 31, 2025	$	35,335

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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+ Details

LEASES - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 12,071	$ 9,982	$ 7,459
Short term lease cost	365	83	48
Variable lease cost	418	468	252
Total lease cost	12,854	10,533	7,759
Cash paid for amounts included in the measurement of lease liabilities	4,598	5,727	7,512
Right-of-use assets obtained in exchange for new operating lease liabilities	39,202	33,039	0
Right of use assets disposed or adjusted, modifying operating leases liabilities	$ 0	$ 1,302	$ 2,024
Weighted-average remaining lease term	9 years	9 years	9 years
Weighted-average discount rate	6.91%	7.16%	7.38%

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2025	Feb. 25, 2026	Jun. 28, 2025
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40653
Entity Registrant Name	Duolingo, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3055872
Entity Address, Address Line One	5900 Penn Avenue
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15206
City Area Code	(412)
Local Phone Number	567-6602
Title of 12(b) Security	Class A common stock, $0.0001 per share
Trading Symbol	DUOL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 13,342,902,822
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its 2026 annual meeting of stockholders, which the registrant intends to file pursuant to Regulation 14A with the Securities and Exchange Commission not later than 120 days after the registrant’s fiscal year ended December 31, 2025, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001562088
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40,594,239
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		6,356,052

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Duolingo, Inc. (the “Company” or “Duolingo”) was formed on August 18, 2011, and the Duolingo App was launched to the general public on June 19, 2012. The Company’s headquarters are located in Pittsburgh, Pennsylvania. Duolingo is a US-based mobile learning platform, as well as a digital English language proficiency assessment exam. The Company has a freemium business model: the app and the website are accessible free of charge, although Duolingo also offers premium services for a subscription fee. As of the date of this filing, Duolingo offers over 250 total language courses, including Spanish, English, French, German, Italian, Portuguese, Japanese and Chinese. We have locations in the U.S., China, the United Kingdom and Germany. Principles of Consolidation—The Consolidated Financial Statements include the accounts of the Company and subsidiaries over which the Company has control. All intercompany transactions and balances have been eliminated. Basis of Presentation—The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”) from the Company’s accounting records and reflect the consolidated financial position and results of operations for the years ended December 31, 2025, 2024, and 2023. Unless otherwise specified, all dollar amounts (other than per share amounts) are referred to in thousands. The Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
William "Bing" Gordon [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 11, 2025, William "Bing" Gordon, a member of our Board of Directors, modified his Rule 10b5-1 sales plan (the “Gordon 10b5-1 Sales Plan”) that was originally adopted on June 13, 2025, to extend the expiration date to December 31, 2026. The modified trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act and provides for the sale of up to 40,000 shares of the Company’s Class A common stock. The trading arrangement will remain in effect until the earlier of (i) December 31, 2026, (ii) the completion of all authorized transactions, or (iii) termination in accordance with its terms.
William "Bing" Gordon December 2025 Plan [Member] \| William "Bing" Gordon [Member]
Trading Arrangements, by Individual
Name	William "Bing" Gordon
Title	member of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 11, 2025
Expiration Date	December 31, 2026
Arrangement Duration	385 days
Aggregate Available	40,000
William "Bing" Gordon June 2025 Plan [Member] \| William "Bing" Gordon [Member]
Trading Arrangements, by Individual
Name	William "Bing" Gordon
Title	member of our Board of Directors
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 11, 2025