WEBTOON Entertainment Unveils Exciting Preliminary Results for Q4 and Full Year 2024: Join Our Earnings Call and Webcast!

WEBTOON Entertainment, a top global entertainment company, shared its early financial results for the fourth quarter and the whole year of 2024. The company reported strong growth, showcasing its position in the storytelling industry.

Key Highlights of 2024

• Estimated total revenue was about $1.347 billion.
• Revenue adjusted for currency effects was around $1.433 billion.
• Net income is estimated to be between $(158) and $(152) million.
• Adjusted EBITDA likely ranged from $67 to $68 million.

Fourth Quarter Achievements

• Revenue reached approximately $351 million.
• It translates to around $367 million when factoring in currency effects.
• Net income for the quarter is expected to be between $(107) and $(101) million.
• Estimated Adjusted EBITDA for the quarter ranged from $(4.5) to $(3.5) million.
• The company had about $572 million in cash and cash equivalents.

Junkoo Kim, the Founder and CEO, expressed satisfaction with the year’s results, emphasizing a growth rate exceeding 12% from the previous year, and a remarkable 600% increase in Adjusted EBITDA compared to 2023. Despite facing challenges from currency fluctuations in the fourth quarter, WEBTOON continued to show resilience with about 10% revenue growth on a constant currency basis.

The value of the US dollar increased significantly against major currencies like the Korean Won and Japanese Yen, affecting nearly 90% of the company’s revenue. In the previous quarter, WEBTOON had already noted a strengthening dollar, which continued to impact their financials. Additionally, short-term engagement challenges arose due to political unrest in Korea.

The Adjusted EBITDA figures for the fourth quarter were influenced by non-cash actuarial losses related to retiree benefits and currency translation effects. This actuarial loss decreased the quarter’s Adjusted EBITDA by approximately $6 million.

Upcoming Financial Call

WEBTOON plans to release its full financial results for the year on February 25, 2025. Following this, the management team will discuss the results and answer questions. Interested parties can listen to the call live or access it later through their official website.

Important Notes

These preliminary results are estimates and have not been audited yet. They are based on the current information available to management and will need final confirmation once the company’s financial closing processes are complete.

About WEBTOON Entertainment Inc.

WEBTOON is a pioneering global entertainment company known for transforming comics and storytelling in the mobile format. It hosts a vast range of creators and original series and boasts around 170 million active users each month. The platform has made notable adaptations available on popular streaming services like Netflix and Prime Video and partners with brands like HYBE and DC Comics.