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 Stockholders’ Equity and Group Equity
| Common Stock · Additionalpaid-incapital · Accumulatedothercomprehensiveloss · Accumulateddeficit · Total stockholders’equity attributable toWEBTOON Entertainment Inc. · Non-controllinginterests inconsolidatedsubsidiaries · GroupEquity · Totalequity | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | |||||||||||||||||
| Balance as of January 1, 2022 | 85,755,540 | $9 | $575,168 | $(7,467) | $(108,186) | $459,543 | $— | $616,789 | $1,076,332 | ||||||||
| Net loss | — | — | — | — | (103,847) | (103,847) | (2,743) | (26,024) | (132,614) | ||||||||
| Foreign currency translation adjustments, net of tax | — | — | — | (28,985) | — | (28,985) | — | — | (28,985) | ||||||||
| Loss on valuation of financial assets measured at fair value, net of tax | — | — | — | (405) | — | (405) | — | — | (405) | ||||||||
| Issuance of common stock | 8,606,430 | 1 | 390,803 | — | — | 390,806 | — | — | 390,806 | ||||||||
| Equity in income of equity method investees | — | — | — | 190 | — | 190 | — | — | 190 | ||||||||
| Equity-based compensation2 | — | — | — | — | — | — | 2,305 | — | 2,305 | ||||||||
| Business Combination (Refer to Note 17. Disposition and Business Combinations) | — | — | — | — | — | — | 59,079 | — | 59,079 | ||||||||
| Issuance of common shares to acquire a subsidiary | 2,729,722 | — | 70,857 | — | — | 70,858 | — | — | 70,858 | ||||||||
| Reclassification of redeemable non-controlling interest to non-controlling interest | — | — | — | — | — | — | 25,020 | — | 25,020 | ||||||||
| Changes in ownership interest in subsidiary | — | — | (802) | — | — | (802) | (640) | — | (1,442) | ||||||||
| Change in ownership interest in subsidiary due to purchase of treasury shares | — | — | 173 | — | — | 173 | (14,032) | — | (13,859) | ||||||||
| Change in ownership interest in subsidiary due to issuance of common stock | — | — | 4,651 | — | — | 4,651 | 15,608 | — | 20,259 | ||||||||
| Common control transaction | — | — | (2,748) | — | — | (2,748) | — | 2,748 | — | ||||||||
| Redemption of redeemable non-controlling interest | — | — | 160 | — | — | 160 | 798 | — | 958 | ||||||||
| Balance as of January 1, 2023 | 97,091,692 | 10 | 1,038,262 | (36,667) | (212,033) | 789,594 | 85,395 | 593,513 | 1,468,502 | ||||||||
| Net loss | — | — | — | — | (102,818) | (102,818) | (22,769) | (13,637) | (139,225) | ||||||||
| Foreign currency translation adjustments, net of tax1 | — | — | — | (17,251) | — | (17,251) | — | — | (17,251) | ||||||||
| Equity in income of equity method investees | — | — | — | (906) | — | (906) | — | — | (906) | ||||||||
| Equity-based compensation2 | — | — | 646 | — | — | 646 | 2,155 | — | 2,801 | ||||||||
| Changes in scope of consolidation | — | — | — | — | — | — | (7,875) | — | (7,875) | ||||||||
| Common control transactions | 12,413,458 | 1 | 628,338 | — | (48,441) | 579,876 | — | (579,876) | — | ||||||||
| Balance as of December 31, 2023 | 109,505,150 | 11 | 1,667,246 | (54,824) | (363,292) | 1,249,141 | 56,906 | — | 1,306,047 | ||||||||
| Net loss | — | — | — | — | (143,905) | (143,905) | (5,153) | — | (149,058) | ||||||||
| Foreign currency translation adjustments, net of tax1 | — | — | — | (69,702) | — | (69,702) | (1,236) | — | (70,938) | ||||||||
| Issuance of common stock through initial public offering | 15,000,000 | 2 | 281,735 | — | — | 281,737 | — | — | 281,737 | ||||||||
| Issuance of common stock through private placement | 2,380,952 | — | 50,000 | — | — | 50,000 | — | — | 50,000 | ||||||||
| Issuance of common stock for exercise of over-allotment | 1,371,549 | — | 26,576 | — | — | 26,576 | — | — | 26,576 | ||||||||
| Equity in income of equity method investees | — | — | — | (94) | — | (94) | — | — | (94) | ||||||||
| Equity-based compensation2 | — | — | 70,010 | — | — | 70,010 | 1,098 | — | 71,108 | ||||||||
| Changes in scope of consolidation | — | — | — | — | — | — | (3,861) | — | (3,861) | ||||||||
| Vesting of restricted stock units | 262,804 | — | 7,222 | — | — | 7,222 | — | — | 7,222 | ||||||||
Consolidated Statements of Stockholders’ Equity and Group Equity
| Exercise of stock options | 67,489 | — | 1,142 | 1,142 | 1,142 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance as of December 31, 2024 | 128,587,944 | $13 | $2,103,931 | $(124,620) | $(507,197) | $1,472,127 | $47,754 | $— | $1,519,881 | |||
As of December 31, 2024, December 31, 2023, and December 31, 2022, the ending balance in accumulated other comprehensive loss related to foreign currency translation adjustments was $120.9 million, $51.2 million, and $33.9 million, respectively.
The Company recorded dividends of $17.4 million, $0.0 million and $0.0 million for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively, as a reduction in additional paid-in capital for stock options granted to NAVER's employees who did not provide services to the Company (See Note 1. Description of Business and Summary of Significant Accounting Policies for the definitions of the Company and NAVER).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.