WEBTOON Entertainment Inc
For the period ended Jun 30, 2024. Filed Aug 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
| As of | ||
|---|---|---|
| June 30, 2024 | December 31, 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $572,305 | $231,745 |
| Receivables1, net of allowance for credit losses of $2,518 and $1,049 at June 30, 2024 and December 31, 2023 respectively | 173,446 | 171,776 |
| Asset held for sale | — | 6,827 |
| Other current assets, net2 | 80,639 | 82,479 |
| Total current assets | 826,390 | 492,827 |
| Property and equipment, net | 9,414 | 11,692 |
| Operating lease right-of-use assets | 7,854 | 29,472 |
| Debt and equity securities | 75,324 | 91,233 |
| Intangible assets, net | 194,351 | 219,502 |
| Goodwill, net | 741,307 | 779,176 |
| Equity method investments | 78,618 | 64,222 |
| Deferred tax assets | 24,108 | 24,045 |
| Other non-current assets, net3 | 71,851 | 64,436 |
| Total assets | $2,029,217 | $1,776,605 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable4 | $121,374 | $127,427 |
| Accrued expenses | 87,569 | 62,782 |
| Short-term borrowings and current portion of long-term debt5 | — | 4,252 |
| Current portion of operating lease liabilities6 | 4,865 | 9,945 |
| Contract liabilities7 | 97,524 | 76,722 |
| Income tax payables - corporate tax | 9,742 | 9,459 |
| Consumption taxes payables | 5,633 | 7,339 |
| Provisions and defined pension benefits | 3,846 | 5,564 |
| Other current liabilities | 11,646 | 12,584 |
| Total current liabilities | 342,199 | 316,074 |
| Non-current liabilities: | ||
| Long-term operating lease liabilities8 | 2,870 | 19,238 |
| Defined severance benefits | 19,964 | 23,361 |
| Deferred tax liabilities | 51,659 | 61,134 |
| Other non-current liabilities | 1,650 | 9,322 |
| Total liabilities | $418,342 | $429,129 |
| Commitments and Contingencies (Note 8) | ||
| Redeemable non-controlling interest in subsidiary | $41,706 | $41,429 |
| Stockholders' equity: | ||
| Common stock, $0.0001 par value (2,000,000,000 authorized, 126,886,102 shares and 109,505,150 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) | $13 | $11 |
| Preferred stock, $0.0001 par value (100,000,000 authorized, no shares and - shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) | — | — |
| Additional paid-in capital | 2,053,326 | 1,667,246 |
| Accumulated other comprehensive loss | (104,008) | (54,824) |
| Accumulated deficit | (433,985) | (363,292) |
| Total stockholders' equity attributable to WEBTOON Entertainment Inc. | 1,515,346 | 1,249,141 |
| Non-controlling interests in consolidated subsidiaries | 53,823 | 56,906 |
| Total equity | 1,569,169 | 1,306,047 |
| Total liabilities, redeemable non-controlling interest, and equity | $2,029,217 | $1,776,605 |
Includes amounts due from related parties of$54,585 and $63,723 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of $8,672 and $– as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of$30,520 and $15,876 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of$20,481 and $6,713 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of$– and as of $3,800 June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of$1,899 and $6,426 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of$1 and $16,160 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of$– and $14,852 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
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