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WEBTOON Entertainment Inc. (NASDAQ:WBTN), currently valued at $1.14 billion and trading near $8.74, held its annual meeting of stockholders on Wednesday. Despite the stock’s 62% decline over the past year, InvestingPro analysis suggests the company is currently undervalued, with analysts maintaining a Buy consensus rating. The meeting saw participation from holders of 125,770,501 shares, representing approximately 96.6% of the company’s voting power. This turnout constituted a quorum for conducting business. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 2.63, indicating robust financial health despite recent market challenges. Subscribers can access 8 additional key ProTips and comprehensive financial metrics in the Pro Research Report.
At the meeting, stockholders approved several proposals. Nancy Dubuc was elected as a Class I director to serve until the 2028 annual meeting. The election saw 124,774,879 votes in favor, 198,928 votes withheld, and 796,694 broker non-votes.
Stockholders also voted on the compensation of the company’s named executive officers. The advisory, non-binding vote resulted in 122,872,114 votes for, 2,100,423 against, 1,270 abstentions, and 796,694 broker non-votes. Additionally, stockholders approved an annual frequency for future advisory votes on executive compensation, with 124,963,904 votes supporting the one-year option.
Lastly, the selection of Samil PricewaterhouseCoopers as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. This decision received 125,750,691 votes for, 16,141 against, and 3,669 abstentions.
The information is based on a press release statement filed with the U.S. Securities and Exchange Commission.
In other recent news, Webtoon Entertainment Inc. reported its first-quarter earnings for 2025, revealing a revenue of $326 million, which marked a 5.3% increase when excluding foreign exchange influences, slightly surpassing expectations. However, the company faced a net loss of $22 million, contrasting with a net income of $6.2 million from the previous year. Adjusted EBITDA also fell significantly to $4.1 million from $22.2 million a year earlier. Despite these financial challenges, Webtoon’s revenue in Japan showed strong growth, accounting for over 50% of the company’s revenue in the quarter.
Goldman Sachs recently adjusted its price target for Webtoon to $11.00, down from $15.00, while maintaining a Buy rating, reflecting optimism about the company’s growth potential. Similarly, Evercore ISI reduced its price target to $20.00 from $23.00 but kept an Outperform rating, citing a positive long-term outlook despite recent volatility in the company’s fundamentals. Citi also initiated coverage with a Buy rating and a price target of $11.00, suggesting that the stock is currently undervalued.
Webtoon is actively working on expanding its platform by acquiring new content through partnerships with comic publishers and revising its app’s user interface. The company aims to enhance user engagement and monetization, focusing on international markets such as Japan and North America. Despite a decline in global monthly active users, Webtoon remains optimistic about its growth prospects, supported by its scalable business model and strategic investments.
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