WEBTOON Entertainment Inc.

Listed Company

WBTNCIK 0001997859NasdaqAcceleratedMiscellaneous PublishingDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.38B

Net Income

$-345.93M

Total Assets

$1.60B

Equity

$1.17B

Shares Out

133.48M

Op. Cash Flow

$11.22M

Business

WEBTOON Entertainment Inc. operates a global storytelling platform that enables creators to publish serialized visual and text narratives and connects them with an engaged user community. It offers web-comics and web-novels in a mobile-optimized, vertical-scroll serialized format, together with Paid Content, advertising products, creator monetization tools and IP adaptation services such as licensing and merchandise. Key business segments comprise Paid Content, Advertising and IP Adaptations, supported by foundational technology, AI, community features and creator support services. WEBTOON distributes content via mobile apps and partner platforms across Korea, Japan, North America and other international markets through organic and paid marketing channels.

Summary from filing dated 2025-03-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue	1,383	1,348	1,283	1,079
Cost of revenue	−1,061	−1,009	−987	−806
Marketing	−126	−108	−121	−180
General and administrative expenses	−260	−332	−211	−208
Operating Loss	−64	−101	−36	−115
Interest income	19	16	3	1
Interest expense	−56,000	−45,000	−79,000	−844,000
Impairment losses on goodwill and other intangible assets, net	−336	−70	−63	—
Gain (loss) on equity method investments, net	1	−1	−12	−5
Other income (loss), net	−10	6	−24	937,000
Loss before income tax	−389	−149	−133	−118
Income tax benefit (expense)	16	−4	−12	−14
Net loss	−373	−153	−145	−133
Net income (loss) attributable to WEBTOON Entertainment Inc.	−346	−144	−116	−130
Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests	−27	−9	−28	−3
Foreign currency translation adjustments, net of tax	10	−72	−17	−29
Share of other comprehensive income (loss) of equity method investments, net of tax	896,000	−94,000	−906,000	190,000
Total other comprehensive loss, net of tax	11	−72	−18	−29
Total comprehensive loss	−363	−225	−163	−162
Total comprehensive loss attributable to WEBTOON Entertainment Inc.	−336	−214	−135	−159
Total comprehensive loss attributable to non-controlling interests and redeemable non-controlling interests	−27	−11	−28	−3
Basic (in shares)	130	119	110	107
Diluted (in shares)	130	119	110	107
Basic (in usd per share)	−2.66	−1.21	−1.06	−1.22
Diluted (in usd per share)	−2.66	−1.21	−1.06	−1.22

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	582	572	232	—	—
Receivables, net of allowance for credit losses of $3,418 and $1,049 at December 31, 2025 and December 31, 2024, respectively	177	169	172	—	—
Prepaid expenses and other current assets, net	73	95	82	—	—
Total current assets	831	836	493	—	—
Property and equipment, net	8	4	12	—	—
Operating lease right-of-use assets	24	17	29	—	—
Debt and equity securities	70	70	91	—	—
Intangible assets, net	158	181	220	—	—
Goodwill, net	337	665	779	884	—
Equity method investments	80	79	64	77	—
Deferred tax assets	22	18	24	—	—
Other non-current assets, net	65	66	64	—	—
Total assets	1,596	1,935	1,777	—	—
Accounts payables	137	127	127	—	—
Accrued expenses	67	62	63	—	—
Current portion of operating lease liabilities	10	6	10	—	—
Contract liabilities	90	86	77	—	—
Income tax payables corporate tax	1	10	9	—	—
Consumption taxes payables	3	8	7	—	—
Provisions and defined pension benefits	9	11	6	—	—
Other current liabilities	2	2	13	—	—
Total current liabilities	319	313	316	—	—
Long-term operating lease liabilities	14	11	19	—	—
Defined severance benefits	25	22	23	—	—
Deferred tax liabilities	6	30	61	—	—
Other non-current liabilities	4	2	9	—	—
Total liabilities	367	379	429	—	—
Commitments and Contingencies (Note 10)	—	—	—	—	—
Redeemable non-controlling interest in subsidiary	25	37	41	47	0
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	0	0	0	—	—
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	13,000	13,000	11,000	—	—
Additional paid-in capital	2,138	2,104	1,667	—	—
Accumulated other comprehensive loss	−114	−125	−55	—	—
Accumulated deficit	−853	−507	−363	—	—
Total stockholders equity attributable to WEBTOON Entertainment Inc.	1,170	1,472	1,249	—	—
Non-controlling interests in consolidated subsidiaries	33	48	57	85	—
Total equity	1,204	1,520	1,306	1,469	1,076
Total liabilities, redeemable non-controlling interest, and equity	1,596	1,935	1,777	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Allowance for credit losses	5	6	3	3
Depreciation and amortization	35	40	38	35
Operating lease expense	10	10	12	11
Loss (Gain) on foreign currency, net	−2	−3	6	16
Deferred tax benefit	−29	−25	−16	−7
Loss (Gain) on debt and equity securities, net	9	−2	23	−624,000
Contingent consideration liability	0	−4	−789,000	448,000
Stock-based compensation	42	87	3	0
Gain on disposal of right-of-use assets, net	0	−2	−62,000	—
Change in severance benefit, net	6	4	−737,000	−292,000
Loss on investments in subsidiaries, net	0	3	884,000	0
Other non-cash items	14,000	−707,000	−3	443,000
Changes in receivables	−873,000	−24	31	42
Changes in other assets	1	−36	−7	−33
Changes in accounts payable	3	26	−8	−48
Changes in accrued expenses	6	2	3	−17
Changes in consumption taxes payables	−6	3	3	—
Changes in contract liabilities	2	22	1	3
Changes in withholdings	−6	−8,000	1	—
Changes in income tax payable - corporate tax	−9	634,000	1	—
Changes in other liabilities	−7	−812,000	5	−3
Changes in operating lease liabilities	−8	−9	−10	−10
Changes in deposits	−294,000	2	−260,000	−3
Transfer of severance benefits	−3	−956,000	−3	−2
Net cash provided by operating activities	11	18	15	−141
Proceeds from maturities of short-term investments	43	68	15	16
Proceeds from sale of debt and equity securities	0	3	2	871,000
Proceeds from sale of property and equipment	297,000	6	659,000	608,000
Proceeds from sale of equity method investments	0	6	5	0
Proceeds from loan receivable	2	0	311,000	113,000
Payment from maturities of short-term investments	−26	−77	−35	0
Payment made for loan receivable	−904,000	−264,000	−11	−3
Purchases of debt and equity securities	−7	−1	−9	−29
Purchases of property and equipment	−8	−2	−10	−3
Purchases of intangible assets	−10	−11	−12	−18
Purchases of equity method investments	0	−9	−682,000	−14
Acquisition of businesses, net of cash	−148,000	0	0	—
Disposal of businesses, net of cash	0	−315,000	2	−520,000
Other investing activities	119,000	470,000	187,000	140,000
Net cash used in investing activities	−7	−17	−52	−51
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions	0	293	0	0
Proceeds from issuance of common stock related to private placement	0	50	0	408
Capital contribution to a non-wholly owned subsidiary from a limited partner	0	0	3	0
Payments of initial public offering costs	0	−11	0	0
Proceeds from exercise of over-allotment, net of underwriting discounts and commissions	0	27	0	0
Proceeds from stock option exercise	1	746,000	0	0
Proceeds from short-term borrowings	139,000	0	383,000	77
Repayments of short-term borrowings	0	−4	−6	−105
Repayments of long-term borrowings	0	−15,000	−64,000	0
Payment of contingent consideration related to business acquisition	0	−2	−4	−2
Net cash provided by (used in) financing activities	1	354	−6	350
Effect of exchange rate changes on cash and cash equivalents	4	−14	−4	−20
Net increase (decrease) in cash and cash equivalents	9	341	−48	139
Income taxes paid	25	26	27	29
Interest paid	1,000	85,000	92,000	700,000
Reclassification of debt and equity securities to equity method investments	0	19	0	0
Reclassification of deferred offering costs to additional paid-in capital upon IPO	0	11	0	0
Share exchange with NAVER upon issuance of new WEBTOON Entertainment Inc. shares	0	0	580	0
Purchase of property and equipment included in accounts payable	0	2,000	11,000	9

Filings

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