WEBTOON Entertainment Inc
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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FY2024 · Filed Mar 11, 2025
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Consolidated Balance Sheets
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $572,402 | $231,745 |
| Receivables1, net of allowance for credit losses of $3,418 and $1,049 at December 31, 2024 and December 31, 2023, respectively | 169,187 | 171,776 |
| Asset held for sale | — | 6,827 |
| Prepaid expenses and other current assets, net2 | 94,783 | 82,479 |
| Total current assets | 836,372 | 492,827 |
| Property and equipment, net | 3,782 | 11,692 |
| Operating lease right-of-use assets | 16,649 | 29,472 |
| Debt and equity securities | 70,178 | 91,233 |
| Intangible assets, net | 180,912 | 219,502 |
| Goodwill, net | 665,275 | 779,176 |
| Equity method investments | 78,668 | 64,222 |
| Deferred tax assets | 17,592 | 24,045 |
| Other non-current assets, net3 | 65,906 | 64,436 |
| Total assets | $1,935,334 | $1,776,605 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable4 | $127,306 | $127,427 |
| Accrued expenses5 | 62,209 | 62,782 |
| Short-term borrowings and current portion of long-term debt6 | — | 4,252 |
| Current portion of operating lease liabilities7 | 6,053 | 9,945 |
| Contract liabilities8 | 85,860 | 76,722 |
| Income tax payables – corporate tax | 10,093 | 9,459 |
| Consumption taxes payables | 8,339 | 7,339 |
| Provisions and defined pension benefits | 11,133 | 5,564 |
| Other current liabilities | 2,231 | 12,584 |
| Total current liabilities | 313,224 | 316,074 |
| Non-current liabilities: | ||
| Long-term operating lease liabilities9 | 11,187 | 19,238 |
| Defined severance benefits | 22,030 | 23,361 |
| Deferred tax liabilities | 30,271 | 61,134 |
| Other non-current liabilities | 2,161 | 9,322 |
| Total liabilities | $378,873 | $429,129 |
| Commitments and Contingencies (Note 10) | ||
| Redeemable non-controlling interest in subsidiary | 36,580 | 41,429 |
| Stockholders’ equity: | ||
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Preferred stock, $0.0001 par value (100,000,000) authorized and no shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively) | $— | $— |
| Common stock, $0.0001 par value (2,000,000,000 authorized, 128,587,944 shares and 109,505,150 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively) | $13 | $11 |
| Additional paid-in capital | 2,103,931 | 1,667,246 |
| Accumulated other comprehensive loss | (124,620) | (54,824) |
| Accumulated deficit | (507,197) | (363,292) |
| Total stockholders’ equity attributable to WEBTOON Entertainment Inc. | 1,472,127 | 1,249,141 |
| Non-controlling interests in consolidated subsidiaries | 47,754 | 56,906 |
| Total equity | 1,519,881 | 1,306,047 |
| Total liabilities, redeemable non-controlling interest, and equity | $1,935,334 | $1,776,605 |
Includes amounts due from related parties of $59,495 and $63,723 as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of $9,258 and $— as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of $32,072 and $15,876 as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of $17,173 and $6,713 as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $5,562 and $— as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $— and as of $3,800 December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $3,506 and $6,426 as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $— and $16,160 as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $9,519 and $14,852 as of December 31, 2024 and December 31, 2023, respectively. (See Note 16. Related Parties and Variable Interest Entity)
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