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 Statements of Operations and Comprehensive Loss
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue1 | $1,348,478 | $1,282,748 | $1,079,388 |
| Cost of revenue2 | (1,009,410) | (987,258) | (806,377) |
| Marketing3 | (107,783) | (121,086) | (180,002) |
| General and administrative expenses4 | (331,984) | (210,762) | (207,728) |
| Operating Loss | (100,699) | (36,358) | (114,719) |
| Interest income | 15,820 | 3,009 | 1,166 |
| Interest expense | (45) | (79) | (844) |
| Impairment losses on goodwill | (69,743) | (63,412) | — |
| Loss on equity method investments, net | (1,123) | (12,339) | (4,694) |
| Other income (loss), net5 | 6,482 | (23,574) | 937 |
| Loss before income tax | (149,308) | (132,753) | (118,154) |
| Income tax expense | (3,604) | (12,006) | (14,369) |
| Net loss | (152,912) | (144,759) | (132,523) |
| Net income (loss) attributable to WEBTOON Entertainment Inc. | (143,905) | (116,455) | (129,871) |
| Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests | (9,007) | (28,304) | (2,652) |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments, net of tax | (71,935) | (17,251) | (28,985) |
| Loss on valuation of financial assets measured at fair value, net of tax | — | — | (405) |
| Share of other comprehensive income (loss) of equity method investments, net of tax | (94) | (906) | 190 |
| Total other comprehensive loss, net of tax | (72,029) | (18,157) | (29,200) |
| Total comprehensive loss | $(224,941) | $(162,916) | $(161,723) |
| Total comprehensive loss attributable to WEBTOON Entertainment Inc. | (213,704) | (134,612) | (159,071) |
| Total comprehensive loss attributable to non-controlling interests and redeemable non-controlling interests | (11,237) | (28,304) | (2,652) |
| Weighted average shares outstanding | |||
| Basic | 119,231,997 | 109,505,150 | 106,501,020 |
| Diluted | 119,231,997 | 109,505,150 | 106,501,020 |
| Income (loss) per share attributable to WEBTOON Entertainment Inc. | |||
| Basic | (1.21) | (1.06) | (1.22) |
| Diluted | (1.21) | (1.06) | (1.22) |
Includes amounts earned from related parties of $72,228, $78,698 and $54,422 for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts incurred from related parties of $96,498, $22,412 and $14,848 for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts incurred from related parties of $(7,691), $203 and $574 for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts incurred from related parties of $32,478, $30,945 and $30,194 for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts earned from related parties of $3,592, $4,761 and $614 for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively. (See Note 16. Related Parties and Variable Interest Entity)
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.