官方声明补充道："新平台将同时提供竖屏与传统格式漫画，涵盖档案库作品、当期连载漫画及原创故 事。" 该平台将由Webtoon负责开发与运营，并向现有漫威无限订阅用户开放。此外，Disney+订阅用户也可通 过"Disney+ Perks计划"免费访问新应用中的漫画内容。 此次合作基于双方今年8月宣布的初步协议。根据此前协议，迪士尼IP已登陆Webtoon提供竖屏阅读格式 的移动应用。 智通财经APP获悉，迪士尼(DIS.US)于周一宣布，已与Webtoon Entertainment(WBTN.US)达成合作，将 联合开发一个汇集迪士尼经典漫画内容的数字平台。迪士尼还将收购该数字漫画平台2%的股权，受此 消息影响，Webtoon股价在盘后交易中一度飙升近90%。 目前，该笔交易的财务细节尚未对外披露。 据介绍，即将推出的全新平台将收录超过3.5万部迪士尼旗下漫威、星球大战、20世纪影业等品牌的经 典与当代漫画作品，部分内容还将针对Webtoon韩国和日本平台进行本地化改编。 ...

Group 1 - The Walt Disney Company and WEBTOON Entertainment have entered into a non-binding term sheet to develop a new digital comics platform [1] - The platform will feature current comic book runs and include over 35,000 past comics from Disney's portfolio, including Marvel and Star Wars [1]

Core Insights - WEBTOON is a global storytelling platform with 24 million creators and 155 million monthly active users, focusing on webcomics [2] Group 1: Market Opportunity - WEBTOON targets the Gen Z demographic, which is a key audience for its content [2] - The platform is positioned as a unique storytelling hub, differentiating itself in the digital content landscape [2] Group 2: Platform Development - The company is focused on building out its platform for long-term growth, leveraging its extensive creator base [2] - WEBTOON's format, webcomics, is described as the purest form of storytelling, emphasizing its innovative approach [2]

WEBTOON Entertainment Conference Summary Company Overview - **Company**: WEBTOON Entertainment (NasdaqGS: WBTN) - **Industry**: Digital storytelling and web comics - **Market Position**: Global storytelling hub with 24 million creators and 155 million monthly active users [4][5] Key Market Opportunities - **U.S. Market**: Identified as the largest growth opportunity, with a current market penetration of less than 5% [18] - **Korea**: Achieved 50% market penetration, recognized as a household name [14] - **Japan**: Recently became the market leader, with significant growth metrics [16] Growth Strategy - **Content Creation**: Produces 120,000 new stories daily, leveraging a diverse creator base [7] - **User Engagement**: 77% of U.S. consumers find the platform more enjoyable than competitors [7] - **Consumer Model**: Utilizes a pay-per-episode model, allowing users to choose when to pay for content [12] Financial Performance - **Revenue**: Reported $1.35 billion in net revenue with positive operating profit [8] - **Growth Metrics**: Achieved 19% growth in monthly active users in the U.S. and other English-speaking countries [11] Content Partnerships - **Disney Collaboration**: Launched content such as "Star Wars" and "The Amazing Spider-Man," aimed at attracting Gen Z consumers [19][20] - **IP Adaptation**: Successful in adapting web comics into popular films and series, with 900 examples of crossover IP [27] Advertising Strategy - **Advertising Potential**: Positioned to enhance user experience while providing targeted advertising opportunities [30] - **Profitability**: North America advertising expected to significantly contribute to profitability [31] Technology and AI Integration - **AI Utilization**: Focused on enhancing creator productivity and consumer experience while protecting human creators [33][34] - **Content Discovery**: AI tools used to personalize content recommendations and combat piracy [33] Capital Allocation and Investment Strategy - **Investment Focus**: Prioritizes technology, market expansion, and infrastructure to support long-term growth [44][45] - **Self-Funding**: Plans to use self-generated cash flow for investments without depleting the balance sheet [41] Strategic Themes - **Technology-Driven Storytelling**: Emphasizes reducing risks in generating storytelling hits for both platform and external consumption [47] - **Creator Empowerment**: Commitment to enabling creators while ensuring a sustainable ecosystem [48] - **Market Understanding**: Acknowledges the need for better investor understanding of the company's unique position [48] Conclusion - WEBTOON Entertainment is positioned for significant growth, particularly in the U.S. market, through strategic partnerships, innovative content creation, and a strong focus on technology and user engagement. The company aims to enhance profitability while expanding its reach and maintaining a robust creator ecosystem.

Core Viewpoint - Webtoon Entertainment (WBTN) shows potential as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating a positive earnings outlook and potential for continued stock price growth [1][2]. Earnings Estimates - Analysts are increasingly optimistic about Webtoon’s earnings prospects, leading to higher estimates that are expected to positively influence the stock price [2]. - For the current quarter, Webtoon is projected to earn $0.04 per share, reflecting an 81.8% decrease from the previous year, but the Zacks Consensus Estimate has risen by 43.75% in the last 30 days with no negative revisions [5]. - For the full year, the expected earnings are $0.24 per share, which is a 57.9% decline year-over-year, yet the consensus estimate has increased by 55% due to two upward revisions and no negative changes [6][7]. Zacks Rank - Webtoon currently holds a Zacks Rank 1 (Strong Buy), which is based on the positive trend in earnings estimate revisions, suggesting strong potential for outperformance compared to the S&P 500 [8]. - The Zacks Rank system has a proven track record, with Zacks 1 Ranked stocks averaging a +25% annual return since 2008 [3]. Stock Performance - The stock has experienced a 39.6% increase over the past four weeks, driven by favorable estimate revisions, indicating strong investor interest and potential for further growth [9].

Group 1 - The article discusses a deal between Webtoon Entertainment and The Walt Disney Company, where Disney will provide both existing and new content to Webtoon [1] - The focus of the investment service offered by Crude Value Insights is on cash flow and companies in the oil and natural gas sector, highlighting their value and growth prospects [1] Group 2 - Subscribers to the service gain access to a stock model account with over 50 stocks, detailed cash flow analyses of exploration and production firms, and live discussions about the sector [2] - A promotional offer is available for a two-week free trial to attract new subscribers interested in the oil and gas industry [3]

Core Points - Webtoon Entertainment Inc. experienced an 81% surge in stock price, marking its largest single-day increase since its IPO, following a partnership announcement with The Walt Disney Company [1] - The agreement includes the adaptation of 100 Disney-branded comics into Webtoon’s English app and the co-creation of original webcomics [1] - Webtoon reported quarterly earnings that exceeded analyst expectations, with adjusted earnings per share of $0.07 and revenue of $348 million, surpassing the Wall Street average estimates [1] Company Insights - Webtoon’s CEO David Lee indicated that the partnership is mutually beneficial, enhancing Webtoon’s comic resources with popular works while allowing Disney to reach younger audiences [1] - Webtoon’s Chief Strategy Officer Yongsoo Kim emphasized the goal of introducing legendary stories to a new generation of mobile comic enthusiasts [2] - Despite the stock price increase, Webtoon’s current price remains below the $21 IPO price due to previous underwhelming performance [2] Analyst Commentary - Morgan Stanley analyst Matthew Cost highlighted the partnership with Disney as an attractive development that could significantly expand user growth in the English market [2] - The key concern raised by analysts is whether Disney's audience will remain engaged with Webtoon for original content or only return for familiar brand content [2]

[PART I-FINANCIAL INFORMATION](index=7&type=section&id=PART%20I-FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements and management's discussion and analysis for WEBTOON Entertainment Inc. [Item 1. Unaudited Financial Statements](index=7&type=section&id=Item%201.%20Unaudited%20Financial%20Statements.) This section presents the unaudited condensed consolidated financial statements for WEBTOON Entertainment Inc. as of June 30, 2025, including balance sheets, statements of operations, statements of stockholders' equity, and statements of cash flows. [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$2.01 billion**, total liabilities grew to **$411.8 million**, and total equity rose to **$1.56 billion**. Condensed Consolidated Balance Sheet Highlights (As of June 30, 2025 vs. Dec 31, 2024) | Metric | June 30, 2025 (in thousands USD) | December 31, 2024 (in thousands USD) | | :--- | :--- | :--- | | **Total Assets** | **$2,009,759** | **$1,935,334** | | Total current assets | $862,018 | $836,372 | | Goodwill, net | $685,690 | $665,275 | | **Total Liabilities** | **$411,802** | **$378,873** | | Total current liabilities | $339,848 | $313,224 | | **Total Equity** | **$1,560,280** | **$1,519,881** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For Q2 2025, revenue grew to **$348.3 million**, and net loss significantly reduced to **$3.9 million** from **$76.6 million** in Q2 2024, primarily due to decreased general and administrative expenses. Statement of Operations Summary (Three Months Ended June 30) | Metric | 2025 (in thousands USD) | 2024 (in thousands USD) | | :--- | :--- | :--- | | Revenue | $348,271 | $320,972 | | Cost of revenue | $(260,992) | $(237,915) | | General and administrative expenses | $(64,972) | $(138,705) | | Operating income (loss) | $(8,763) | $(79,096) | | **Net income (loss)** | **$(3,883)** | **$(76,568)** | | Basic & Diluted EPS | $(0.03) | $(0.70) | Statement of Operations Summary (Six Months Ended June 30) | Metric | 2025 (in thousands USD) | 2024 (in thousands USD) | | :--- | :--- | :--- | | Revenue | $673,978 | $647,716 | | Cost of revenue | $(515,088) | $(482,300) | | General and administrative expenses | $(131,674) | $(187,398) | | Operating income (loss) | $(35,397) | $(64,908) | | **Net income (loss)** | **$(25,852)** | **$(70,335)** | | Basic & Diluted EPS | $(0.21) | $(0.64) | [Condensed Consolidated Statements of Stockholders' Equity](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity increased from **$1.52 billion** at the start of 2025 to **$1.56 billion** by June 30, driven by foreign currency adjustments and equity-based compensation. - Total equity attributable to WEBTOON Entertainment Inc. increased from **$1.47 billion** on January 1, 2025, to **$1.51 billion** on June 30, 2025[27](index=27&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was **$13.0 million**, with cash and cash equivalents increasing by **$9.1 million** to **$581.5 million**. Cash Flow Summary (Six Months Ended June 30) | Activity | 2025 (in thousands USD) | 2024 (in thousands USD) | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(12,951) | $22,394 | | Net cash provided by (used in) investing activities | $5,711 | $(7,306) | | Net cash provided by (used in) financing activities | $229 | $336,053 | | **Net increase (decrease) in cash** | **$9,144** | **$340,560** | | **Cash and cash equivalents at end of period** | **$581,546** | **$572,305** | [Notes to the Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes cover revenue disaggregation, geographical markets, legal proceedings, and stock-based compensation, with Paid Content and Japan as key revenue drivers. Revenue by Stream (Three Months Ended June 30) | Revenue Stream | 2025 (in thousands USD) | 2024 (in thousands USD) | | :--- | :--- | :--- | | Paid Content | $274,913 | $260,709 | | Advertising | $45,220 | $40,419 | | IP Adaptations | $28,138 | $19,844 | | **Total** | **$348,271** | **$320,972** | Revenue by Geography (Three Months Ended June 30) | Geography | 2025 (in thousands USD) | 2024 (in thousands USD) | | :--- | :--- | :--- | | Korea | $125,746 | $118,067 | | Japan | $177,881 | $156,221 | | Rest of World | $44,644 | $46,684 | | **Total** | **$348,271** | **$320,972** | - The company is facing a putative class action lawsuit filed on September 5, 2024, alleging that the IPO Registration Statement was materially false and misleading, and the company intends to defend the case vigorously[63](index=63&type=chunk) - Total stock-based compensation expense was **$25.5 million** for the six months ended June 30, 2025, a significant decrease from **$57.7 million** in the same period of 2024[67](index=67&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses key business metrics, financial results, and liquidity, highlighting a decrease in global MAU but growth in ARPPU and significant reduction in net loss for Q2 2025. [Key Business Metrics](index=28&type=section&id=Key%20Business%20Metrics) Global MAU decreased by **7.6%** to **156.1 million** in Q2 2025, while Global MPU remained stable, and Paid Content ARPPU grew **11.1%** to **$12.4**. Key Operating Metrics (Q2 2025 vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Global MAU | 156.1 million | ~168.9 million | -7.6% | | - Korea MAU | 23.0 million | 25.8 million | -10.9% | | - Japan MAU | 22.6 million | 22.0 million | +2.7% | | - ROW MAU | 110.5 million | 121.1 million | -8.8% | | Global MPU | 7.4 million | ~7.7 million | -3.9% | | Paying Ratio | 4.7% | 4.6% | +0.1 ppt | | Global ARPPU | $12.4 | ~$11.16 | +11.1% | [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q2 2025 revenue increased **8.5%** to **$348.3 million**, and operating loss significantly narrowed to **$8.8 million** due to a **53.2%** decrease in G&A expenses. Comparison of Operations (Three Months Ended June 30) | Metric (in thousands USD) | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $348,271 | $320,972 | 8.5% | | Operating income (loss) | $(8,763) | $(79,096) | (88.9%) | | Net income (loss) | $(3,883) | $(76,568) | (94.9%) | - The decrease in G&A expenses for Q2 2025 was largely driven by a **$43.2 million** decrease in stock compensation expense and the non-recurrence of a **$30.0 million** one-time CEO bonus related to the successful IPO in 2024[154](index=154&type=chunk) [Non-GAAP Financial Measures](index=35&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA for Q2 2025 was **$9.7 million**, with a **2.8%** margin, while constant currency revenue grew **5.5%** year-over-year. Reconciliation of Net Loss to Adjusted EBITDA (Three Months Ended June 30) | Metric (in thousands USD) | 2025 | 2024 | | :--- | :--- | :--- | | Net income (loss) | $(3,883) | $(76,568) | | EBITDA | $(1,216) | $(67,778) | | **Adjusted EBITDA** | **$9,662** | **$20,351** | | Adjusted EBITDA Margin | 2.8% | 6.3% | - On a constant currency basis, total revenue for the three months ended June 30, 2025, was **$338.7 million**, representing a **5.5%** increase over the prior year period[184](index=184&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company held **$581.5 million** in cash and cash equivalents as of June 30, 2025, supported by IPO proceeds, and believes it has sufficient liquidity for the next 12 months. - The company completed its IPO on June 28, 2024, receiving net proceeds of approximately **$281.7 million**, and an additional **$50 million** from a concurrent private placement[185](index=185&type=chunk)[186](index=186&type=chunk) - As of June 30, 2025, the company had **$581.5 million** in cash and cash equivalents[188](index=188&type=chunk) Cash Flow Summary (Six Months Ended June 30) | Activity (in thousands USD) | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(12,951) | $22,394 | | Net cash provided by (used in) investing activities | $5,711 | $(7,306) | | Net cash provided by (used in) financing activities | $229 | $336,053 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) This section refers to the company's Annual Report for a detailed discussion of its market risks, indicating no material changes since that filing. - The company's disclosures about market risk are referenced from its Annual Report on Form 10-K[196](index=196&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that disclosure controls were ineffective as of June 30, 2025, due to material weaknesses in accounting resources and period-end financial reporting processes, with remediation ongoing. - Management concluded that disclosure controls and procedures were not effective as of June 30, 2025, due to material weaknesses in internal control over financial reporting[197](index=197&type=chunk) - Identified material weaknesses include: * Lacking a sufficient complement of resources with appropriate accounting knowledge and experience[198](index=198&type=chunk) * Ineffective design and maintenance of controls related to the period-end financial reporting and disclosure process[199](index=199&type=chunk) - Remediation efforts are ongoing, including onboarding U.S. GAAP and SEC reporting specialists and strengthening financial closing and reporting controls[201](index=201&type=chunk) [PART II-OTHER INFORMATION](index=42&type=section&id=PART%20II-OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, defaults, mine safety, other information, and exhibits. [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings.) The company is involved in class action and shareholder derivative lawsuits alleging misleading IPO statements, which it intends to vigorously defend. - A putative class action lawsuit was filed on September 5, 2024, against the company, its directors, and IPO underwriters, alleging violations of the Securities Act of 1933 related to the IPO Registration Statement[206](index=206&type=chunk) - A shareholder derivative lawsuit was filed on November 15, 2024, against the company's directors based on similar allegations as the class action, which has been stayed pending the motion to dismiss in the class action case[207](index=207&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors.) There have been no material changes to the company's risk factors since the filing of its Annual Report on Form 10-K. - No material changes to the risk factors previously disclosed in the Annual Report have occurred[208](index=208&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) There were no unregistered sales of equity securities during the period. - None[209](index=209&type=chunk) [Item 3. Defaults Upon Senior Securities](index=42&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) There were no defaults upon senior securities during the period. - None[209](index=209&type=chunk) [Item 4. Mine Safety Disclosures](index=42&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) This item is not applicable to the company. - Not Applicable[209](index=209&type=chunk) [Item 5. Other Information](index=42&type=section&id=Item%205.%20Other%20Information.) There is no other information to report for the period. - None[210](index=210&type=chunk) [Item 6. Exhibits](index=43&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents and officer certifications. - Exhibits filed include: * Amended and Restated Certificate of Incorporation and By-Laws[211](index=211&type=chunk) * Certifications by the Principal Executive Officer and Principal Financial Officer[211](index=211&type=chunk) * Interactive Data Files (Inline XBRL)[211](index=211&type=chunk)

| (0) WBTN WEBTOON Entertainment | | | | --- | --- | --- | | 9.360 ↑ +0.220 +2.41% | | | | 13.120 + 3.760 +40.17% | | 盘前价 08/13 05:20 美东 | | 一 24 24 4 8 8 8 8 | | ● 快捷交易 | | 最高价 9.415 | | 开盘价 9.220 成交量 131.74万 | | 最低价 9.090 | 昨收价 9.140 | 成交额 1576.17万 | | 平均价 11.964 | 市盈率TM 亏损 | 总市值 12.19亿 … | | 振 幅 3.56% | 市盈率(静) 亏损 | 总股本 1.3亿 | | 换手率 7.52% | 市净率 0.830 | 流通值 1.64亿 | | 52周最高 14.690 | 委 比 99.70% | 流通股 1750.99万 | | 52周最低 6.750 | 量 比 2.79 | 色 手 1股 | | 历史最高 25.660 | 股息TIM -- | | | 历史最低 6.750 | 股息率TIM -- | | Webt ...

Here is how Webtoon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: View all Key Company Metrics for Webtoon here>>> Shares of Webtoon have returned -2.3% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Monthly Active Users (MAU): 156.1 million versus the three-analyst average estima ...