WEBTOON Entertainment Inc.

Thank you for standing by. My name is John and I will be your conference operator today. At this time, I would like to welcome everyone to the Webtoon Entertainment second quarter 2026 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 at this time, please press star followed by the number one on your telephone keypad. And to withdraw yourself from the queue, 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 forward-looking 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, uncertainty, and other factors that could cause these results differs, including our SEC filings, including those 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 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 Junkoo Kim, founder and CEO, Yongsoo Kim, president, and David Lee, CFO. With that, I will now turn the call over to our founder and CEO, Junkoo Kim.

Thank you everyone for joining us today. I will begin by providing a brief overview of the cover and Yongsoo will share more detail on a few strategic investments we announced today. David will then walk through our financial research in more detail. As always, I encourage you to read our shield letter which is available on our investor relations website. We delivered another solid quarter with revenue of $338.5 million and adjusted EBITDA of $5.5 million reflecting continued execution across the business and I'm proud of the progress we are making. This quarter, we are introducing a new strategic direction that we believe will power our flywheel into the future. This includes further investment in AI-powered initiatives that strengthen and expand our core on-platform business, which I will share in more detail. We are also scaling our off-platform IP adaptation business to create greater franchise value and bring more fans back to our global platform. Yongsoo will share more on this in a moment. Turning to AI, this quarter, we took meaningful steps to further integrate AI across our platform with features designed to strengthen our flywheel by expanding audience reach, deepening engagement, and creating new opportunity for creators. Fandoms are built on connection and shared passion and our AI initiatives are designed to further strengthen this sense of community. A great example is our AI-powered author translation program. By making it easier for stories to reach readers across languages, we can help creators expand their global audience and give users access to more contents in their native language. We launched the beta program in May for eligible English language Canvas creators and the early response from both users and creators has been encouraging. We look forward to expanding the program later this year to a broader group of Canvas creators. and we believe it has the potential to become an important driver of growth. We are also going beyond simple character chat with BIOS, an AI interactive story chat service that we introduced this quarter in Korea, where fans hold conversations with characters and build stories of their own. BIOS brings to life the characters fans already love, built an official world with the approval of the creators who made them. Initiatives like this move webcomics from a one-way reading experience to a deeply engaging and interactive one, and the only result has been positive. We are planning to expand the service to Japan later this year. We also continue to our video innovation in Korea. We recently launched Cuts Make, a new AI-powered short-form animation tool that lets fans create and participate in their favorite story using official IP. In its first week, new cuts' content rose 136%, and the number of creators making content grew 188% over the week prior. Video initiative overall remain an important focus area for us, and we are continuing to explore short animation as a way to extend how users experience our IP. Our ambition to be the world's storytelling technology platform is also being supported by exciting collaboration like the one we have with Disney. A quick update on our Disney collaboration. We are excited to introduce an original series later this year and remain well positioned to launch the new digital comics platform before the end of this year. Before I turn it over to Yongsoo, I want to reiterate my belief in our strategy. We are launching new initiatives to accelerate our growth and receiving great feedback from the fans and creators who make Webtoon the destination of storytelling. We continue to expect to return to double-digit growth by the end of the year and look forward to the road ahead. With that, Yongsoo will provide an update on our off-platform initiatives. Yongsoo, please go ahead.