Webtoon Entertainment Inc. reported big losses for Q4 and the full year on higher sales, with asset impairments and unfavorable currency fluctuation the biggest drivers of the loss. The company lost around $153 million in Q4, up from a $33 million loss in Q4 2023; and lost $214 million for the full year, up from a $135 million loss in 2023.
Asset writedowns contributed $70 million to the losses, pretty similar to $63 million in writedowns in 2023.
Foreign currency fluctuations were a much bigger impact in 2024 than in 2023, as currencies in Asia, where Webtoon has most of its sales, dropped against the dollar. Foreign currency adjustments were $62 million of the loss in Q4, and $72 million for the full year. In 2023, currency adjustments were only an $18 million hit to earnings for the full year.
After a loss in Q2 2024, the company’s first quarterly report since its initial public offering (see "Webtoon Widens Loss"), Webtoon turned positive in Q3, but then had big losses in Q4 pulling the year down.
Sales were up 5.6% for Q4, behind growth in Paid Content and Advertising, partially offset by currency adjustments; and up 5.1 % for the full year to $1.35 billion.

For Quarter and Year
Posted by Milton Griepp on March 5, 2025 @ 2:52 am CT

MORE COMICS
Plus 'Love Bullet' Yuri Series, More 'Ghoul School'
May 27, 2025
Yen also announced it had licensed the yuri manga Love Bullet and a tie-in to A Terrified Teacher at Ghoul School.
Zeb Wells and Greg Capullo on Marvel Title, Grant Morrison and Dan Mora for DC
May 27, 2025
The creative teams are Zeb Wells and Greg Capullo for the Marvel Comics one-shot and Grant Morrison and Dan Mora for the DC Comics one.
MORE NEWS
New Card Drafting Game by Thunderworks Games
May 27, 2025
Thunderworks Games will release Citizens of the Spark , a new card drafting game, into retail.
Boxed Set Includes New Etched Foil
May 27, 2025
The Pokemon Company International will release Charizard ex Special Collection , for Pokemon TCG , into retail.