WEBTOON Entertainment Inc
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 12, 2024
WBTN$9.92-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands of USD)
| For the Nine Months Ended | ||
|---|---|---|
| September 30, 2024 | September 30, 2023 | |
| Operating activities: | ||
| Net Loss | $(50,349) | $(49,493) |
| Adjustments to reconcile net loss to cash provided by operating activities: | ||
| Provision for bad debt expense | 2,482 | 667 |
| Depreciation and amortization | 27,953 | 27,943 |
| Operating lease expense | 8,013 | 9,210 |
| Loss on foreign currency, net | (616) | 8,138 |
| Deferred tax expense | (23,698) | (1,787) |
| Gain on debt and equity securities, net | (5,143) | (886) |
| Loss (gain) on equity method investments, net | 1,069 | (2,539) |
| Contingent consideration liability | (3,713) | (1,797) |
| Stock-based compensation | 72,114 | 4,331 |
| Gain on disposal of right-of-use assets | (1,883) | — |
| Other non-cash items | 336 | 379 |
| Changes in operating assets and liabilities | ||
| Changes in receivables, net of allowance | (25,706) | 6,278 |
| Changes in other assets | (46,334) | (9,210) |
| Changes in accounts payable | 2,109 | 3,088 |
| Changes in accrued expenses | 30,299 | 17,710 |
| Changes in contract liabilities | 34,348 | 16,674 |
| Changes in other liabilities | 12,256 | (10,790) |
| Changes in operating lease liabilities | (7,318) | (8,083) |
| Payment of severance benefits, net of cash transferred | 320 | (2,314) |
| Net cash provided by operating activities | $26,539 | $7,519 |
| Investing activities: | ||
| Proceeds from maturities of short-term investments | 63,205 | 7,691 |
| Proceeds from sale of debt and equity securities | 2,975 | — |
| Purchases of property and equipment | (1,313) | (9,837) |
| Proceeds from sale of equity method investments | 5,963 | — |
| Payment made for short-term investments | (68,369) | (22,645) |
| Payment made for loan receivable | (178) | (12,035) |
| Purchases of intangible assets | (7,678) | (8,096) |
| Purchases of equity method investments | (5,792) | (685) |
| Disposal of businesses, net of cash disposed | (361) | 2,008 |
| Other investing activities | 318 | (1,472) |
| Net cash used in investing activities | $(11,230) | $(45,071) |
| Financing activities: | ||
| Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions | 292,950 | — |
| Proceeds from issuance of common stock related to private placement | 50,000 | — |
| Proceeds from stock option exercise | 574 | — |
| Capital contribution to a non-wholly owned subsidiary from a limited partner | — | 3,257 |
| Proceeds from exercise of over-allotment, net of underwriting discounts and commissions | 26,786 | — |
| Payments of initial public offering costs | (11,154) | — |
| Repayments of short-term borrowings | (3,639) | (6,733) |
| Payment of contingent consideration related to business acquisition | (1,849) | (2,923) |
| Net cash provided by (used in) financing activities | $353,668 | $(6,399) |
| Effect of exchange rate changes on cash and cash equivalents | (15,206) | (11,514) |
| Cash and cash equivalents: | ||
| Net increase (decrease) in cash and cash equivalents | 353,771 | (55,465) |
| Cash and cash equivalents at beginning of the year | 231,745 | 279,709 |
| Cash and cash equivalents at end of the year | $585,516 | $224,244 |
| Supplemental disclosure: | ||
| Income taxes paid | $23,683 | $18,440 |
| Interest paid | 85 | 88 |
| Reclassification of deferred offering costs to additional paid-in capital upon IPO | 11,215 | — |
| Deferred offering costs not yet paid | 270 | — |
| Reclassification of debt and equity securities to equity method investments | 19,422 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.