WEBTOON Entertainment Inc.

friends operator today at this time i would like to welcome everyone to the webton entertainment third quarter 2025 earnings call all lines have been placed in mute to prevent any background noise after the speaker 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 and to withdraw your question simply press star one again i would now like to turn the call over to suwon kim vice president of investor relations mr kim please go ahead

Good afternoon and thank you for joining us. As a reminder, our remarks today will include four listening statements, including those regarding our future plans, objectives, expected performance, and 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 is included in our SEC filings, including those stated in the risk factors section of our filings with the SEC. These four looking statements represent our outlook only as of the date of this call. We undertake no obligation to revise or update any four 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 the 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 Jungwoo 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 the call today. I will briefly discuss a few highlights from the third call before turning the call over to David to provide our results and outlook. For additional details about the quarter, please see the earnings released and shareholder levels, both of which are posted on our investor relations website. We are pleased to report solid third quarter results that demonstrate the underlying strength of our model with adjusted EBITDA of 5.1 million coming in above the midpoint of our guidance range. Total revenue of $378 million was up 8.7% or 9.1% on a constant current basis, compared to the same quarter in 2024. This was an exciting quarter as we broadened our relationship with ESIM. On September 15, 2025, we announced a non-binding partnership with Disney to develop an all-new digital comics platform. This new platform, which Webtoon Entertainment will build and operate, will feature more than 35,000 comics from across Disney's portfolio, including Marvel, Star Wars, Disney, Pixar, and 20th Century Studios, all available in a single digital comic service with one convenient subscription. Alongside the brand's commercial collaboration, we entered into a non-binding township. for Disney to acquire a 2% equity interest in Western entertainment. And we have already made progress. As of today, we have launched all five titles from our initial announcement in August, including Amazing Spider-Man, Star Wars, Alien, Avengers, and Disney as well as Time of Twisted Fate, as well as another new formative title, Predator. Additionally, at New Comic Con last month, we announced another five new titles coming to Webtoon, including Astonishing X-Men, Star Wars Lost Star, Star Wars Darth Vader, Black, White, and Red, The Unbeatable, Squirrel Girl, and Stitch and the Samurai, the complete collection. Disney's extraordinary storytelling legacy is second to none, and we are honored to work with them to build the future of digital comics. This is a powerful next step for our growing global business and a strong foundation for even greater collaboration with Disney in the years ahead. Moving on to our innovation in SharePoint business. We launched a video episode on our English language platform in August. Video episodes reimagine the experience of enjoying web comics by adding motion, sound effects, background music, and human voice acting to the original web comics, all in a five-minute video. We believe this feature will deep engagement with existing users. reach new users and deliver a new medium for amazing stories. In Korea, we launched CUT in September, another short-form video innovation. This feature allows creators and fans to create, upload, and enjoy short-form animated videos under two minutes in length. Within just a month since we launched CUT, We have already hosted over 1,000 creators with some videos already surpassing 1 million views. Finishing up with IP authentication, today we announced the plan to develop a sleight of animated project with Warner Brothers Animation. We intend to enter into an agreement to co-produce 10th and favorite Western cities for global distribution. Our creators are building franchise that Gen.G audience love and working with Warner Bros. Animation gives us an incredible opportunity to test those stories further alongside one of the most respected names in animation. As outlined in the shared level, we also continue to see success with our theatrical and streaming release, including My Daughter is a Zombie, Your Letter, and Jikimage. We believe that IP adaptations are an important part of our plan as we work to attract more users to our platform, and we are confident in our strong pipeline of adaptation over the long term. As we close out an exciting quarter marked by meaningful progress made toward our strategic priorities, I'm confident in our ability to deliver further growth in upcoming quarters. We would like to thank our users, creators, and employees for their continued support. With that, I will now turn the call over to David.