DUOL Stock Cash Flow Statements

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Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Net Income

Quarterly

Annual

Quarterly Cash Flow Statements

Quarterly

Annual

Unit: USD	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30

cash flows from operating activities:
net income	26,956,000	12,117,000	2,807,000	3,725,000	-2,582,000	-13,930,000	-18,445,000	-15,045,000	-12,154,000	-17,517,000	-28,970,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	2,074,000	2,042,000	1,657,000	1,634,000	1,762,000	1,444,000	1,482,000	1,170,000	774,000	757,000	733,000
stock-based compensation expense	24,985,000	25,002,000	25,432,000
gain on sale of capitalized software		0	0	0	-100,000
changes in assets and liabilities:
deferred revenue	30,121,000	40,304,000	16,135,000	10,811,000	24,392,000	22,606,000	6,750,000	9,093,000	20,834,000	17,807,000	9,463,000
accounts receivable	12,554,000	-27,264,000	-8,305,000	-897,000	-5,781,000	-16,531,000	-1,988,000	364,000	4,590,000	-12,426,000	4,392,000
deferred cost of revenues	-6,466,000	-7,807,000	-3,404,000	-2,583,000	-5,096,000	-4,783,000	-1,040,000	-1,438,000	-3,561,000	-4,493,000
prepaid expenses and other current assets	-3,465,000	2,251,000	617,000	-2,653,000	-263,000	739,000	-1,416,000	-804,000	66,000	-1,489,000	-3,406,000
accounts payable	-398,000	-142,000	344,000	1,404,000	-345,000	-2,791,000	2,450,000	-514,000	-5,800,000	-890,000	4,442,000
accrued expenses and other current liabilities	-4,514,000	3,259,000	1,221,000	2,165,000	-3,201,000	4,451,000	764,000	2,240,000	1,265,000	3,299,000	700,000
noncurrent assets and liabilities	1,667,000	-585,000	729,000	-153,000	-255,000	-229,000	-286,000	-518,000	27,000	700,000	-947,000
net cash from operating activities	83,514,000	49,193,000	37,650,000	37,167,000	29,604,000	11,608,000	8,759,000	12,662,000	20,627,000	432,000	4,511,000
cash flows from investing activities:
capitalized software expense and purchases of intangible assets	-3,607,000	-3,224,000	-3,994,000	-2,544,000	-731,000
purchase of property and equipment	-1,414,000	-924,000	-759,000	-827,000	-681,000	-292,000	-2,079,000	-1,864,000	-1,327,000	-523,000	-1,085,000
proceeds from sale of capitalized software		0	0	0	100,000
net cash from investing activities	-5,021,000	-4,148,000	-4,753,000	-3,371,000	-1,312,000	-4,945,000	-3,516,000	-3,269,000	-2,444,000	-1,108,000	-1,464,000
cash flows from financing activities:
proceeds from exercise of stock options	3,610,000	3,563,000	1,657,000	3,778,000	4,619,000	1,550,000	3,564,000	4,436,000	5,226,000	5,158,000	4,015,000
net cash from financing activities	3,610,000	3,563,000	-9,825,000	3,778,000	4,619,000	1,550,000	3,564,000	4,436,000	5,226,000	5,158,000	431,757,000
net increase in cash, cash equivalents and restricted cash	82,103,000
cash, cash equivalents and restricted cash - beginning of period	750,345,000
cash, cash equivalents and restricted cash - end of period	832,448,000
loss on disposal of leasehold improvements		16,000
acquisition, net of 0 cash acquired
issuance of common stock in connection with the initial public offering, net of underwriting discounts and issuance costs										0
net proceeds from issuance of convertible preferred stock
repurchases of stock options										0	0
repurchase of common stock										0	0
taxes paid related to net-share settlement of share-based compensation awards
taxes paid related to net-share settlements of share-based compensation awards
net increase in cash and cash equivalents			23,072,000	37,574,000	32,911,000	8,213,000	8,807,000	13,829,000	23,409,000	4,482,000	434,804,000
cash and cash equivalents - beginning of period			0	0	608,180,000	0	0	0	553,922,000	0	0
cash and cash equivalents - end of period			23,072,000	37,574,000	641,091,000	8,213,000	8,807,000	13,829,000	577,331,000	4,482,000	434,804,000
stock-based compensation					21,073,000	20,632,000	20,488,000	18,114,000	14,586,000	14,684,000	20,662,000
capitalized software							-1,437,000	-1,405,000	-1,117,000	-585,000	-379,000
supplemental disclosure of cash flow information:
cash paid for interest
cash paid for income taxes							0	605,000	3,000	38,000	36,000
supplemental disclosure of noncash operating activities:
implementation costs for cloud computing included in current liabilities								-146,000	153,000
supplemental disclosure of noncash investing activities:
capitalized software included in current liabilities							-4,000	-2,000	14,000
property and equipment included in current liabilities							-1,013,000	880,000	178,000
landlord incentives included in prepaid expenses and other current assets							0	1,046,000	1,102,000
payments of deferred offering costs
supplemental disclosure of noncash financing activities:
deferred offering costs included in accrued expenses
changes in assets and liabilities
implementation costs for cloud computing included in accrued expenses
capitalized software included in accrued expenses											262,000
property and equipment included in accrued expenses											-224,000
deferred cost of revenue