Webtoon Q1 Adjusted EBITDA Up 132% to $9.5M on $320.9M Revenue
WBTN•Webtoon Entertainment posted Q1 revenue of $320.9 million, a 1.5% year-over-year decline (0.2% constant currency growth), with adjusted EBITDA surging 132% to $9.5 million. The company reported an $8.8 million net loss, improved from $22 million, and held $594.9 million in cash with no debt.
1. First Quarter Financial Results
Webtoon recorded total revenue of $320.9 million, down 1.5% year-over-year, and constant currency revenue of $326.4 million, up 0.2%. Net loss narrowed to $8.8 million from $22.0 million, while adjusted EBITDA rose to $9.5 million (3.0% margin) versus $4.1 million (1.3%), with diluted loss per share of $0.07 and adjusted EPS of $0.07.
2. Cash Position and Operations
The company held cash and cash equivalents of $594.9 million plus $11.1 million in short-term deposits, with zero debt on the balance sheet. Operating cash outflow improved to $11.8 million from $18.7 million a year earlier, reflecting effective cost controls.
3. Second Quarter 2026 Outlook
For Q2, Webtoon expects revenue of $332 million to $342 million (1.7%–4.6% constant currency growth) and adjusted EBITDA between $0 and $5 million (0.0%–1.5% margin). Management plans continued investment in the creator ecosystem and major updates to the CANVAS platform to support long-term innovation and growth.
