WEBTOON Entertainment Inc.
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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FY2025 · Filed Mar 5, 2026
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Consolidated Balance Sheets
| As of December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $581,806 | $572,402 |
| Receivables1, net of allowance for credit losses of $3,378 and $3,418 at December 31, 2025 and December 31, 2024, respectively | 176,779 | 169,187 |
| Prepaid expenses and other current assets, net2 | 72,647 | 94,783 |
| Total current assets | 831,232 | 836,372 |
| Property and equipment, net | 8,339 | 3,782 |
| Operating lease right-of-use assets | 23,705 | 16,649 |
| Debt and equity securities | 69,669 | 70,178 |
| Intangible assets, net | 157,804 | 180,912 |
| Goodwill, net | 336,825 | 665,275 |
| Equity method investments | 80,440 | 78,668 |
| Deferred tax assets | 22,302 | 17,592 |
| Other non-current assets, net3 | 65,194 | 65,906 |
| Total assets | $1,595,510 | $1,935,334 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable4 | $136,962 | $127,306 |
| Accrued expenses5 | 66,690 | 62,209 |
| Current portion of operating lease liabilities6 | 9,617 | 6,053 |
| Contract liabilities | 89,994 | 85,860 |
| Income tax payables – corporate tax | 1,236 | 10,093 |
| Consumption taxes payables | 2,900 | 8,339 |
| Provisions and defined pension benefits | 8,766 | 11,133 |
| Other current liabilities | 2,457 | 2,231 |
| Total current liabilities | 318,622 | 313,224 |
| Non-current liabilities: | ||
| Long-term operating lease liabilities7 | 14,055 | 11,187 |
| Defined severance benefits | 25,069 | 22,030 |
| Deferred tax liabilities | 5,755 | 30,271 |
| Other non-current liabilities | 3,737 | 2,161 |
| Total liabilities | $367,238 | $378,873 |
| Commitments and Contingencies (Note 10) | ||
| Redeemable non-controlling interest in subsidiary | 24,540 | 36,580 |
| As of December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value 100,000,000 authorized and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $— | $— |
| Common stock, $0.0001 par value 2,000,000,000 authorized, 130,776,161 shares and 128,587,944 shares issued and outstanding as of December 31, 2025, and December 31, 2024, respectively | $13 | $13 |
| Additional paid-in capital | 2,137,926 | 2,103,931 |
| Accumulated other comprehensive loss | (114,363) | (124,620) |
| Accumulated deficit | (853,124) | (507,197) |
| Total stockholders’ equity attributable to WEBTOON Entertainment Inc. | 1,170,452 | 1,472,127 |
| Non-controlling interests in consolidated subsidiaries | 33,280 | 47,754 |
| Total equity | 1,203,732 | 1,519,881 |
| Total liabilities, redeemable non-controlling interest, and equity | $1,595,510 | $1,935,334 |
Includes amounts due from related parties of $55,156 and $59,495 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of $4,730 and $9,258 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due from related parties of $33,913 and $32,072 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $18,765 and $17,173 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $6,849 and $5,562 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $5,221 and $3,506 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
Includes amounts due to related parties of $5,371 and $9,519 as of December 31, 2025, and December 31, 2024, respectively. (See Note 16. Related Parties and Variable Interest Entity)
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