WBTN PRESS-RELEASE SEC Filing Analysis

Final — all horizons settled through T+60d

WBTN ▲ +14.70% at T+60d

SHORT call ✗ call lost -14.70% · α vs SPY -4.61% · entry $10.45 → $11.98

Last close $11.67 (close Jun 8) · -11.73% from $10.45 entry (call sign-flipped)

Entry anchored
Mar 3, 03:59 PM ET
via Databento tick

T+1d

-0.62%

call +0.62% · α +0.05%

$10.38

settled 3mo ago

T+5d

-12.88%

call +12.88% · α +11.54%

$9.10

settled 3mo ago

T+20d

-6.27%

call +6.27% · α +1.85%

$9.79

settled 2mo ago

T+60d

+14.70%

call -14.70% · α -4.61%

$11.98

settled 13d ago

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Executive Summary

WEBTOON Entertainment reported full-year 2025 revenue growth of 2.5% ($1.38 billion), with 3.9% growth on a constant currency basis, driven by Paid Content and IP Adaptations. However, the company posted a net loss of $373.4 million due to a $336.5 million goodwill impairment, and Adjusted EBITDA declined 71% YoY to $19.4 million. Q4 revenue fell 6.3% YoY, and first-quarter 2026 guidance suggests flat to slightly negative revenue growth.

Key Financial Metrics

Revenue

$1.4B

+2.5% YoY

Adj. EPS

$0.15

GAAP: $-2.66

Guidance

$317M-$327M

lowered

Actionable Insight

Despite strong cash reserves and strategic partnerships (e.g., Disney, Warner Bros.), declining Adjusted EBITDA, shrinking margins, and weakening revenue trends suggest operational deterioration. The market may react negatively to the sharp profitability decline and weak near-term guidance, even if management highlights 'solid' results.

Key Facts

Full-year 2025 revenue: $1.383 billion, up 2.5% YoY ($1.4 billion reported in text, reconciled to $1.383B in financials)
Full-year 2025 net loss: $373.4 million, driven by $336.5 million goodwill impairment
Adjusted EBITDA: $19.4 million, down from $68.0 million in 2024 (71% decline)
Q4 2025 revenue: $330.7 million, down 6.3% YoY
First-quarter 2026 revenue guidance: $317M–$327M (flat to down 1.5% YoY on constant currency basis)
Strong balance sheet: $582 million cash, no debt

Financial Impact

Revenue growth of 2.5% but Adjusted EBITDA collapsed by 71% to $19.4M; net loss widened to $373.4M due to impairments

revenueepsebitdaprofitabilitycash_flow

Risk Factors

Continued decline in Advertising and IP Adaptations revenue
Further goodwill or intangible asset impairments if acquired assets underperform
Failure to monetize growing user base amid rising marketing spend

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3248913

5 reports for WBTN

T+1T+5T+20T+60

Filters

Reports for WBTN — sortable, filterable
	Type				Now
Apr 27, 2026 6w ago	Press Release NEUTRAL ★ 2/10	$12.18 $12.11	▼ −0.57%	▼ −6.04%	$11.67 (−4.19%)
Apr 22, 2026 6w ago	DEFA14A NEUTRAL ★ 3/10	$11.87 $11.64	▼ −1.94%	▼ −6.57%	$11.67 (−1.68%)
Apr 13, 2026 8w ago	8-K NEUTRAL ★ 3/10	$11.30 $13.31	▲ +17.79%	▲ +11.49%	$11.67 (+3.27%)
Mar 5, 2026 13w ago	8-K NEUTRAL ★ 3/10	$10.38 $9.75	▼ −6.07%	▼ −2.28%	$11.67 (+12.43%)
Mar 3, 2026 14w ago	Press Release BEARISH ★ 7/10	$10.45 $9.79	▲ +6.27%	▲ +1.85%	$11.67 (−11.73%)

US Market Status

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