Duolingo, Inc.

10-K filing was truncated — contains fair value tables and acquisition notes but not the income statement or revenue disaggregation. Q4 2024 revenue cannot be directly determined from the extracted filing. The company's investment portfolio grew significantly (total investments $975,386K including $785,791K cash equivalents). By Q4 2024, Duolingo had fully integrated AI into its product with Birdbrain, GPT-4 features in Max tier, AI-generated content, and AI-powered personalized learning paths. Forward-looking statements now specifically call out 'the success of our development, implementation and use of artificial intelligence and machine learning technologies' as a risk factor (new language vs earlier filings). Estimate of 35% reflects the deepening AI integration and the company positioning itself as AI-first in education.