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Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue [1] $ 320,972 $ 320,663 $ 647,716 $ 630,920
Cost of revenue [2] (237,915) (239,518) (482,300) (483,925)
Marketing [3] (23,448) (33,142) (42,926) (62,386)
General and administrative expenses [4] (138,705) (53,469) (187,398) (109,838)
Operating Loss (79,096) (5,466) (64,908) (25,229)
Interest income 2,043 1,018 3,278 1,375
Interest expense (11) (18) (44) (41)
Income (Loss) on equity method investments, net 120 2,007 (932) 1,483
Other income (loss), net [5] 2,283 (6,090) 846 (2,052)
Loss before income tax (74,661) (8,549) (61,760) (24,464)
Income tax expense (1,907) (11,201) (8,575) (13,578)
Net Loss (76,568) (19,750) (70,335) (38,042)
Net Income (Loss) attributable to WEBTOON Entertainment Inc. (76,885) (20,118) (70,693) (37,679)
Net Income (loss) attributable to non-controlling interests and redeemable non-controlling interests 317 368 358 (363)
Other comprehensive loss:        
Foreign currency translation adjustments, net of tax (20,486) (16,209) (49,175) (34,605)
Share of other comprehensive loss of equity method investments, net of tax   (25) (9) (856)
Total other comprehensive loss, net of tax (20,486) (16,234) (49,184) (35,461)
Total Comprehensive Loss (97,054) (35,984) (119,519) (73,503)
Total comprehensive loss attributable to WEBTOON Entertainment Inc. (97,371) (36,352) (119,877) (73,140)
Total comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests $ 317 $ 368 $ 358 $ (363)
Weighted average shares outstanding        
Basic 110,102,868 109,505,150 109,804,009 109,505,150
Diluted 110,102,868 109,505,150 109,804,009 109,505,150
Loss Per Share Attributable to WEBTOON Entertainment Inc.        
Basic $ (0.7) $ (0.18) $ (0.64) $ (0.34)
Diluted $ (0.7) $ (0.18) $ (0.64) $ (0.34)
[1] Includes amounts earned from related parties of $20,880 and $27,663 for the three months ended June 30, 2024 and June 30, 2023, respectively and $34,167 and $46,774 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[2] Includes amounts incurred from related parties of $31,508 and $3,563 for the three months ended June 30, 2024 and June 30, 2023, respectively and $40,462 and $7,143 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[3] Includes amounts incurred from related parties of $(1,036) and $35 for the three months ended June 30, 2024 and June 30, 2023, respectively and $(2,941) and $97 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)
[4] Includes amounts incurred from related parties of $7,953 and $7,602 for three months ended June 30, 2024 and June 30, 2023, respectively and $14,381 and $16,043 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity).
[5] Includes amounts earned from related parties of $2,885 and $(433) for three months ended June 30, 2024 and June 30, 2023, respectively and $2,679 and $(247) for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)