WEBTOON Entertainment Inc.

Thank you for standing by. My name is John and I'll be your conference operator today. At this time, I would like to welcome everyone to the Webtoon Entertainment third quarter 2024 earnings call. All lines have been placed in mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I would now like to turn the call over to Soo-Wen Kim, Vice President of Investor Relations. Mr. Keim, please go ahead.

Good afternoon, and thank you for joining us. As a reminder, our remarks today will include forward-looking statements, including those regarding our future plans, objectives, expected performance, and in particular, our guidance for the next quarter. Actual results may vary materially from today's statements. Information concerning risks, uncertainties, and other factors that could cause these results differs, including our SEC filings, including those stated in the risk factors section of our filings with the SEC. These forward-looking statements represent our outlook only as of the date of this call. We undertake no obligation to revise or update any forward-looking statements. Additionally, the matters we'll discuss today will include both GAAP and non-GAAP financial measures. Reconciliations of any non-GAAP financial measures to most directly comparable GAAP measures are set forth in our earnings press release. Non-GAAP financial measures should be considered in addition to, not as a substitute for GAAP measures. Joining me today on the call are Jungu Kim, founder and CEO, David Lee, CFO and COO, and Yongsoo Kim, Chief Strategy Officer. With that, I will now turn the call over to our founder and CEO, Jungwoo Kim.

Thank you, everyone, for joining us today. I'll make a few brief comments on our third quarter performance, and then David will provide more detail on our research and outlook. For my first thoughts on the quarter and our path forward, please refer to the shareholder letter posted on our investor relations website. The third corner was a strong one for WebToon, marked by 9.5 revenue growth on a reported basis and double the growth on a constant currency basis, coupled with solid profitability and supported by deepening engagement from our user base. In this first full quarter as a public company, we continue to advance our strategy and mature and streamline our operation as we further scale globally. We also reached an exciting milestone this year as we celebrated our 10th anniversary in North America. Looking back to when we first launched in this geography a decade ago, webcomics were unfamiliar to most comic fans in this region. But now, we have seen the popularity of webcomics continue to grow outside of Asia. This was especially clear when we attended Comic Con in both San Diego and New York as fans came out in droves to support their favorite webtoon creators in person. This event proves that web comics have become a significant global content medium with fandoms that rival traditional comics. Growth in Q3 benefited from an increased use of technology. Developed by our top-notch AI team, we believe our recommendation engine takes a cutting-edge approach to optimize the user experience. As a result of applying this technology in Korea, the number of weekly episodes viewed per user increased by three points year over year in what is already our seasonally strongest quarter. We also saw great success in Japan, which was primarily driven by optimization and improvement of our existing personalized recommendation capabilities. We'll continue to improve the AI recommendation technology globally in the future. I also want to highlight the continued momentum we had in IT adaptation. We had a number of launches and development in some of our most exciting event coming entertainment project. I'm pleased to report that we had success around the world and I'd like to highlight Just three examples. First, Studio M released season three of Sweet Home on Netflix, marked the third season of the show to hit the top ten non-English chart. Second, we debuted Crunchyroll Animation adaptation of Tower of God season two and True Beauty, two of our most popular global titles among other key anime anime launches. Finally, in Europe, we announced two key web novel adaptation projects with Amazon Prime. Chigmi Vose in Spain, Love Me, Love Me in Italy. Before I close, I'd like to share an exciting leadership update in North America. We are expanding our WAPEL leadership team, bringing on Aaron Ravitz as co-president alongside Kate Nunn. Aaron will also continue in his role as president of WAPED Weapons Studio, and both Aaron and KB will continue to report to me. KB has done an exceptional job improving WAPED's core product and enhancing community safety over the last few years. Aaron has deep knowledge of WAPED's creator and community and bringing the pioneer experience building and launching WAPED's Web2 Studio. Together, they are the right reader to oversee WAPED's next phase of growth. Our success in Q3 was made possible by our community of creators and users who share and consume content from Web2. As always, I also want to thank our employees for their continued dedication. With that, I will now turn the call over to David. David, please go ahead.