EXHIBIT 99.1 WEBTOON Entertainment Inc. Announces Select Fourth Quarter and Full Year 2024 Preliminary Estimated Results and Announces Fourth Quarter and Full Year 2024 Earnings Call & Webcast LOS ANGELES, February 6, 2025 (GLOBE NEWSWIRE) -- WEBTOON Entertainment Inc. (Nasdaq: WBTN) ("WEBTOON Entertainment," or "the Company"), a leading global entertainment company and home to some of the world's largest storytelling platforms, today announced select preliminary, estimated and unaudited results for its fou ...

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% driven by Paid Content, Advertising, and IP Adaptations [6] - Adjusted EBITDA margin was 5.0%, with adjusted EBITDA of $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% increase from Q4 2023 [6] - Revenue on a constant currency basis for Q4 was $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]

Core Insights - WEBTOON Entertainment Inc. reported a full year of growth and profitability in 2024, with revenue increasing by over 12% on a constant currency basis compared to 2023 [3] - The company achieved Adjusted EBITDA profitability for the second consecutive year, with over $67 million in 2024, a growth of over 600% from $8.7 million in 2023 [3] - Despite foreign exchange challenges, the company demonstrated approximately 10% revenue growth on a constant currency basis in the fourth quarter [3] Financial Performance - Total revenue for 2024 was approximately $1.347 billion, with revenue on a constant currency basis of approximately $1.433 billion [8] - The net income range for 2024 was approximately $(158) to $(152) million, while Adjusted EBITDA ranged from approximately $67 to $68 million [8] - For the fourth quarter of 2024, total revenue was approximately $351 million, with revenue on a constant currency basis of approximately $367 million [8] Currency Impact - The US dollar appreciated significantly against the Korean Won and the Japanese Yen, which represent almost 90% of WEBTOON's total revenue, impacting revenue growth [3] - Currency translation was identified as a primary factor weighing on revenue growth, alongside short-term engagement impacts from political turbulence in Korea [3] Upcoming Events - WEBTOON Entertainment plans to report its fourth quarter and full year 2024 financial results after market close on February 25, 2025, followed by a conference call at 4:30 p.m. ET [5]

Core Insights - WEBTOON Entertainment achieved over 12% revenue growth on a constant currency basis in 2024 compared to 2023, with Adjusted EBITDA profitability exceeding $67 million, a growth of over 600% from $8.7 million in 2023 [3][8] - The company reported total revenue of approximately $1.347 billion for the full year 2024, with a constant currency revenue of approximately $1.433 billion [8] - The fourth quarter of 2024 saw total revenue of approximately $351 million, with a constant currency revenue of approximately $367 million [8] Financial Performance - Adjusted EBITDA for the fourth quarter was impacted by approximately $6 million in actuarial losses on retiree benefits, currency translation effects, and lower gross profit in Korea due to a shift in revenue mix [4][8] - The net income for the full year 2024 is estimated to be in the range of approximately $(158) to $(152) million, while the fourth quarter net income is estimated to be approximately $(107) to $(101) million [8] - Cash and cash equivalents stood at approximately $572 million, with an additional $26 million in short-term deposits included in other current assets [8] Market Context - The US dollar appreciated significantly against the Korean Won and Japanese Yen during the fourth quarter, which affected revenue growth as these currencies represent nearly 90% of WEBTOON's total revenue [3][8] - The company faced short-term engagement impacts from political turbulence in Korea, which also contributed to the challenges in revenue growth [3] Upcoming Events - WEBTOON Entertainment plans to report its fourth quarter and full year 2024 financial results on February 25, 2025, followed by a conference call at 4:30 p.m. ET [5][6]

Group 1 - WEBTOON Entertainment Inc. announced that CFO and COO David J. Lee will participate in two upcoming investor conferences: UBS Global Technology and AI Conference on December 3, 2024, and Raymond James TMT and Consumer Conference on December 9, 2024 [1] - Both presentations will be webcast live and archived on the Investor Relations section of the Company's website [1] Group 2 - WEBTOON is a leading global entertainment company and pioneer of the mobile webcomic format, transforming comics and visual storytelling for fans and creators [2] - The company has a CANVAS UGC platform that empowers anyone to become a creator, along with a growing roster of WEBTOON Originals creators and series [3] - WEBTOON adaptations are available on major streaming platforms such as Netflix, Prime Video, and Crunchyroll, with content partners including Discord, HYBE, and DC Comics [3] Group 3 - WEBTOON has approximately 170 million monthly active users and an IP & Creator Ecosystem that includes WEBTOON, Wattpad, and several studios [4]

Core Viewpoint - WEBTOON Entertainment Inc. is facing a class action lawsuit alleging that the company made materially false and misleading statements in its registration statement related to its June 2024 IPO, which may have breached the board's fiduciary duties to shareholders [1][4]. Financial Performance - For Q2 2024, WEBTOON reported revenue of $321 million, reflecting a minimal growth of 0.1% [2]. - The company experienced a decline in advertising revenue by 3.6% and a 3.7% drop in IP Adaptations revenue [2]. - A quarterly net loss of $76.6 million, or 70 cents per share, was reported [2]. Stock Performance - Following the financial results announcement, WEBTOON's stock price fell by $7.88, or 38.2%, closing at $12.75 per share on August 9, 2024, with unusually high trading volume [3]. - The stock has traded as low as $12.45 per share, representing a decline of over 40% from the IPO price of $21.00 per share [3]. Allegations in Class Action - The class action complaint alleges that the Registration Statement failed to disclose critical information, including: 1. A deceleration in advertising revenue growth [4]. 2. A slowdown in IP adaptations revenue [4]. 3. Exposure to weaker foreign currencies that offset revenue growth [4]. 4. Misleading positive statements regarding the company's business and prospects [4].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-42144 WEBTOON Entertainment Inc. (Exact Name of Registrant as Specified in its Char ...

EXHIBIT 99.1 WEBTOON Entertainment Inc. Reports Third Quarter 2024 Financial Results Strong Year-Over-Year Revenue Growth of 9.5%; Robust Year-Over-Year Revenue Growth on a Constant Currency Basis of 13.5% Net Income of $20 Million; Solid Adjusted EBITDA of $28.9 Million Represented a Significant Increase Year-Over-Year LOS ANGELES, November 7, 2024 (BUSINESS WIRE) -- WEBTOON Entertainment Inc. (Nasdaq: WBTN) ("WEBTOON" or "the Company"), a leading global entertainment company and home to some of the world' ...

Core Insights - WEBTOON Entertainment Inc. reported a total revenue of $347.9 million for Q3 2024, reflecting a year-over-year growth of 9.5%, with a constant currency growth of 13.5% to $360.4 million [2][3] - The company achieved a net income of $20 million and an adjusted EBITDA of $28.9 million, indicating significant year-over-year increases [2][3] - The CEO expressed confidence in future growth opportunities, supported by a strong creator community and a robust pipeline of entertainment projects [3] Financial Performance - Total revenue for Q3 2024 was $347.9 million, up 9.5% from $317.8 million in Q3 2023, driven by growth in Paid Content and Advertising [2][3] - Revenue on a constant currency basis was $360.4 million, representing a 13.5% increase, with contributions from all revenue streams and regions [2][3] - Net income was $20 million, attributed to improved gross profit, increased interest income, and an income tax benefit [2][3] - Adjusted EBITDA reached $28.9 million, with an adjusted EBITDA margin of 8.3%, both showing increases from the previous year [2][3] Earnings Per Share - Diluted EPS for Q3 2024 was $0.15, a recovery from a loss of $0.10 per share in the prior year [2] - Adjusted EPS increased to $0.22 from $0.03 in the previous year, reflecting improved profitability [2] Fourth Quarter Outlook - For Q4 2024, the company anticipates revenue growth on a constant currency basis between 10.3% and 13.3%, translating to revenue expectations of $375 million to $385 million [4] - Adjusted EBITDA is projected to be in the range of $9 million to $14 million, with an adjusted EBITDA margin of 2.4% to 3.6% [4] Company Overview - WEBTOON is recognized as a leading global entertainment company, specializing in mobile webcomics and storytelling platforms [6][7] - The company boasts approximately 170 million monthly active users and has partnerships with major content platforms like Netflix and Prime Video [8]

Core Viewpoint - A class action lawsuit has been filed against WEBTOON Entertainment, Inc. for alleged violations of federal securities laws related to its IPO on June 27, 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover damages for investors who purchased Webtoon securities during the IPO [2]. - The Complaint alleges that the Registration Statement contained materially false and misleading statements and failed to disclose adverse facts about the Company's business and operations [3]. - Specific allegations include a deceleration in advertising revenue growth, deceleration in IP adaptations revenue, and exposure to weaker foreign currencies that offset revenue growth [3]. Group 2: Next Steps for Investors - Investors who suffered losses in Webtoon have until November 5, 2024, to request to be appointed as lead plaintiff in the case [4]. - The law firm representing the investors operates on a contingency fee basis, meaning they will only collect fees if the case is successful [5]. Group 3: Law Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm specializing in securities fraud class actions and has recovered hundreds of millions of dollars for investors [6].