WEBTOON Entertainment Inc. Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - WEBTOON Entertainment Inc. reported a full year 2024 revenue growth of 5.1%, with a robust year-over-year revenue growth on a constant currency basis of 13.0% [1][6] - The company experienced a net loss of $152.9 million, while adjusted EBITDA reached$67.9 million, representing a 685% increase year-over-year [1][6] - The balance sheet remains strong, with cash and cash equivalents of approximately $572 million and no debt [1] Full Year 2024 Highlights - Total revenue for 2024 was$1.35 billion, a 5.1% increase compared to 2023 [6] - Revenue on a constant currency basis was $1.44 billion, growing 13.0$67.9 million, both increasing from the prior year [6] - Diluted loss per share was $1.21, compared to a loss per share of$1.06 in the prior year [6] Fourth Quarter 2024 Highlights - Total revenue for Q4 2024 was $352.8 million, a 5.6$368.9 million, growing 10.4% [6] - Adjusted EBITDA loss was $3.5 million, compared to a gain of$10.4 million in the prior year [6] CEO Commentary - The CEO highlighted 2024 as an exciting year for the company, emphasizing the successful public listing and strong financial results [4] - The company aims to drive further innovation, enhance usability, and expand monetization opportunities for creators in 2025 [4] Cash Position - The company reported cash and cash equivalents of approximately $572 million, indicating a strong liquidity position [6] - The increase in cash from the previous year was significant, reflecting effective financial management [6]