Core Insights - WEBTOON Entertainment Inc. reported a full year of growth and profitability in 2024, with revenue increasing by over 12% on a constant currency basis compared to 2023 [3] - The company achieved Adjusted EBITDA profitability for the second consecutive year, with over $67 million in 2024, a growth of over 600% from $8.7 million in 2023 [3] - Despite foreign exchange challenges, the company demonstrated approximately 10% revenue growth on a constant currency basis in the fourth quarter [3] Financial Performance - Total revenue for 2024 was approximately $1.347 billion, with revenue on a constant currency basis of approximately $1.433 billion [8] - The net income range for 2024 was approximately $(158) to $(152) million, while Adjusted EBITDA ranged from approximately $67 to $68 million [8] - For the fourth quarter of 2024, total revenue was approximately $351 million, with revenue on a constant currency basis of approximately $367 million [8] Currency Impact - The US dollar appreciated significantly against the Korean Won and the Japanese Yen, which represent almost 90% of WEBTOON's total revenue, impacting revenue growth [3] - Currency translation was identified as a primary factor weighing on revenue growth, alongside short-term engagement impacts from political turbulence in Korea [3] Upcoming Events - WEBTOON Entertainment plans to report its fourth quarter and full year 2024 financial results after market close on February 25, 2025, followed by a conference call at 4:30 p.m. ET [5]
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