WEBTOON Entertainment Inc. Announces Select Fourth Quarter and Full Year 2024 Preliminary Estimated Results and Announces Fourth Quarter and Full Year 2024 Earnings Call & Webcast

Core Insights - WEBTOON Entertainment achieved over 12% revenue growth on a constant currency basis in 2024 compared to 2023, with Adjusted EBITDA profitability exceeding $67 million, a growth of over 600$8.7 million in 2023 [3][8] - The company reported total revenue of approximately $1.347 billion for the full year 2024, with a constant currency revenue of approximately$1.433 billion [8] - The fourth quarter of 2024 saw total revenue of approximately $351 million, with a constant currency revenue of approximately$367 million [8] Financial Performance - Adjusted EBITDA for the fourth quarter was impacted by approximately $6 million in actuarial losses on retiree benefits, currency translation effects, and lower gross profit in Korea due to a shift in revenue mix [4][8] - The net income for the full year 2024 is estimated to be in the range of approximately$(158) to $(152) million, while the fourth quarter net income is estimated to be approximately$(107) to $(101) million [8] - Cash and cash equivalents stood at approximately$572 million, with an additional $26 million in short-term deposits included in other current assets [8] Market Context - The US dollar appreciated significantly against the Korean Won and Japanese Yen during the fourth quarter, which affected revenue growth as these currencies represent nearly 90% of WEBTOON's total revenue [3][8] - The company faced short-term engagement impacts from political turbulence in Korea, which also contributed to the challenges in revenue growth [3] Upcoming Events - WEBTOON Entertainment plans to report its fourth quarter and full year 2024 financial results on February 25, 2025, followed by a conference call at 4:30 p.m. ET [5][6]