Duolingo Inc (DUOL)

Total asset turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021
Revenue (ttm)	US$ in thousands	583,001	531,109	483,948	442,389	403,936	369,495	338,685	306,215	276,632
Total assets	US$ in thousands	1,068,670	953,957	870,714	834,803	790,379	747,347	713,699	701,050	684,511	661,311	617,777	181,693
Total asset turnover		0.55	0.56	0.56	0.53	0.51	0.49	0.47	0.44	0.40

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $583,001K ÷ $1,068,670K
= 0.55

Duolingo Inc's total asset turnover ratio has been increasing over the past few quarters, indicating an improvement in efficiency in generating revenue from its assets. The ratio has steadily increased from 0.40 in December 2021 to 0.55 in March 2024. This suggests that the company is utilizing its assets more effectively to generate sales. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets, which is a positive sign for investors. Overall, Duolingo Inc's improving total asset turnover ratio reflects increasing efficiency in using its assets to generate sales.