XML 10 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets, Current [Abstract]    
Cash and cash equivalents $ 585,516 $ 231,745
Receivables1, net of allowance for credit losses of $3,233 and $1,049 at September 30, 2024 and December 31, 2023 respectively [1] 189,930 171,776
Asset held for sale   6,827
Other current assets, net [2] 105,959 82,479
Total current assets 881,405 492,827
Property and equipment, net 8,333 11,692
Operating lease right-of-use assets 17,418 29,472
Debt and equity securities 78,507 91,233
Intangible assets, net 197,663 219,502
Goodwill, net 759,672 779,176
Equity method investments 83,824 64,222
Deferred tax assets 14,888 24,045
Other non-current assets, net [3] 84,032 64,436
Total assets 2,125,742 1,776,605
Liabilities, Current [Abstract]    
Accounts payable [4] 111,095 127,427
Accrued expenses [5] 95,965 62,782
Short-term borrowings and current portion of long-term debt [6]   4,252
Current portion of operating lease liabilities [7] 6,096 9,945
Contract liabilities [8] 107,507 76,722
Income tax payables - corporate tax 7,179 9,459
Consumption taxes payables 8,701 7,339
Provisions and defined pension benefits 4,477 5,564
Other current liabilities 12,933 12,584
Total current liabilities 353,953 316,074
Non-current liabilities:    
Long-term operating lease liabilities [9] 11,206 19,238
Defined severance benefits 20,005 23,361
Deferred tax liabilities 26,607 61,134
Other non-current liabilities 3,262 9,322
Total liabilities 415,033 429,129
Commitments and Contingencies (Note 8)
Redeemable non-controlling interest in subsidiary 41,849 41,429
Stockholders' equity:    
Common stock, $0.0001 par value (2,000,000,000 authorized, 128,313,144 shares and 109,505,150 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively) 13 11
Preferred stock, $0.0001 par value (100,000,000 authorized, - no shares and - shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively)
Additional paid-in capital 2,093,511 1,667,246
Accumulated other comprehensive loss (64,578) (54,824)
Accumulated deficit (414,232) (363,292)
Total stockholders' equity attributable to WEBTOON Entertainment Inc. 1,614,714 1,249,141
Non-controlling interests in consolidated subsidiaries 54,146 56,906
Total equity 1,668,860 1,306,047
Total liabilities, redeemable non-controlling interest, and equity $ 2,125,742 $ 1,776,605
[1] Includes amounts due from related parties of $64,412 and $63,723 as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[2] Includes amounts due from related parties of $14,749 and $– as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[3] Includes amounts due from related parties of $34,502 and $15,876 as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[4] Includes amounts due to related parties of $21,134 and $6,713 as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[5] Includes amounts due to related parties of $7,510 and $– as of September 30, 2024 and December 31, 2023, respectively.
[6] Includes amounts due to related parties of $– and as of $3,800 September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[7] Includes amounts due to related parties of $3,134 and $6,426 as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[8] Includes amounts due to related parties of $– and $16,160 as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[9] Includes amounts due to related parties of $8,927 and $14,852 as of September 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)