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Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenue [1] $ 347,915 $ 317,764 $ 995,631 $ 948,684
Cost of revenue [2] (256,534) (245,666) (738,834) (729,591)
Marketing [3] (32,719) (33,066) (75,645) (95,452)
General and administrative expenses [4] (66,747) (45,779) (254,145) (155,617)
Operating loss (8,085) (6,747) (72,993) (31,976)
Interest income 6,512 913 9,790 2,288
Interest expense   (18) (44) (59)
Income (Loss) on equity method investments, net (138) 1,056 (1,070) 2,539
Other income (loss), net [5] 11,798 (721) 12,644 (2,773)
Income (loss) before income tax 10,087 (5,517) (51,673) (29,981)
Income tax benefit (expense) 9,899 (5,934) 1,324 (19,512)
Net income (loss) 19,986 (11,451) (50,349) (49,493)
Net income (loss) attributable to WEBTOON Entertainment Inc. 19,753 (11,175) (50,940) (48,854)
Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests 233 (276) 591 (639)
Other comprehensive income (loss):        
Foreign currency translation adjustments, net of tax 39,570 (17,173) (9,605) (51,778)
Share of other comprehensive loss of equity method investments, net of tax (140) (53) (149) (909)
Total other comprehensive income (loss), net of tax 39,430 (17,226) (9,754) (52,687)
Total comprehensive income (loss) 59,416 (28,677) (60,103) (102,180)
Total comprehensive income (loss) attributable to WEBTOON Entertainment Inc. 59,183 (28,401) (60,694) (101,541)
Total comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests $ 233 $ (276) $ 591 $ (639)
Weighted average shares outstanding        
Basic 128,327,971 109,505,150 116,023,733 109,505,150
Diluted 130,817,876 109,505,150 116,023,733 109,505,150
Income (loss) per share attributable to WEBTOON Entertainment Inc.        
Basic $ 0.15 $ (0.1) $ (0.44) $ (0.44)
Diluted $ 0.15 $ (0.1) $ (0.44) $ (0.44)
[1] Includes amounts earned from related parties of $21,744 and $15,452 for the three months ended September 30, 2024, and September 30, 2023, respectively and $55,911 and $62,226 for the nine months ended September 30, 2024, and September 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[2] Includes amounts incurred from related parties of $27,318 and $3,143 for the three months ended September 30, 2024, and September 30, 2023, respectively and $67,780 and $10,286 for the nine months ended September 30, 2024 and September 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[3] Includes amounts incurred from related parties of $(1,920) and $60 for the three months ended September 30, 2024, and September 30, 2023, respectively and $(4,861) and $157 for the nine months ended September 30, 2024 and September 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[4] Includes amounts incurred from related parties of $9,285 and $7,533 for three months ended September 30, 2024, and September 30, 2023, respectively and $23,666 and $23,576 for the nine months ended September 30, 2024 and September 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity).
[5] Includes amounts earned from related parties of $456 and $298 for three months ended September 30, 2024 and September 30, 2023, respectively and $3,135 and $51 for the nine months ended September 30, 2024 and September 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)