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KWM

K Wave Media Ltd.

KWM

K Wave Media Ltd. • NASDAQ
$0.75 ▲ 13.64% (+0.09)
Market Cap $47.70 M
52w High $8.48
52w Low $0.48
Dividend Yield 0%
P/E -3.75
Volume 8.77M
Outstanding Shares 63.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $15.219K ▼ $1.319M ▼ $-2.406M ▲ -15.809K% ▼ $-0.038 ▼ $-1.376M ▲
Q4-2023 $208.704K $3.851M $-3.633M -1.741K% $0 $-3.612M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $333.069K ▼ $8.492M ▼ $10.003M ▲ $-1.511M ▼
Q3-2024 $1.112M ▼ $8.805M ▲ $8.386M ▲ $418.747K ▼
Q4-2023 $3.532M $8.778M $2.766M $6.012M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2023 $-3.633M $-3.167M $1.534M $0 $-1.61M $-3.169M

Five-Year Company Overview

Income Statement

Income Statement KWM’s income statement still looks like that of a shell or very early‑stage company. There is essentially no revenue reported yet, and the company is running small but recurring losses. Earnings per share are negative and have been drifting weaker, which reflects ongoing costs to set up and run the corporate structure without matching income from operations. Overall, it is still very much in the “pre-revenue, investment and build‑out” phase rather than a mature media or fintech operator.

Balance Sheet

Balance Sheet The balance sheet is very thin. Reported assets and equity are minimal, with no meaningful cash or debt showing in the historical figures. Equity has already slipped, which means losses are eroding a very small capital base. This profile is typical of a shell or holding company that has not yet moved significant assets, content libraries, or crypto holdings onto its books. It also implies the business will likely depend heavily on fresh capital injections or structured agreements to fund its ambitious plans.

Cash Flow

Cash Flow Cash flow mirrors the income statement: there is no operating cash coming in yet, only a modest cash burn going out. Investment spending is negligible so far, suggesting that most of the real investing, acquisitions, and crypto treasury buildup are either very recent, off‑balance‑sheet, or still to come. In practical terms, the company is not self‑funding; its ability to pursue growth will depend on raising capital and carefully managing its burn rate as it ramps up operations.

Competitive Edge

Competitive Edge On paper, KWM is trying to build a differentiated position by combining Korean entertainment, a crypto-focused treasury, and a Web3 tokenization platform. Access to Korean content producers, control of several entertainment subsidiaries, and the Rabbit Walk acquisition give it an integrated footprint across production, visual effects, and financing. Its planned entertainment token platform and Bitcoin-centric approach could give it first-mover visibility in a niche where traditional studios are still cautious. At the same time, it faces intense competition from established global streamers, major Korean studios, and numerous blockchain projects. Execution risk is high: the company must prove it can attract creators, fans, and crypto users at scale while navigating regulation and volatility in digital assets.

Innovation and R&D

Innovation and R&D KWM’s innovation is less about classic lab R&D and more about new business models and technology integration. Key pillars include a Bitcoin-based treasury strategy, using Bitcoin and the Lightning Network for payments and funding, and an entertainment tokenization platform that slices up film and music rights into tradable, revenue-sharing tokens. The Rabbit Walk acquisition adds in-house capabilities in visual effects, AI-powered advertising, and advanced content production, which can raise the quality and uniqueness of its media projects. Memorandums of understanding with multiple Korean content partners suggest strong interest, but the real test will be whether the token platform launches smoothly, gains regulatory acceptance, and wins broad adoption from both creators and audiences.

Summary

KWM is at a very early and speculative stage: bold strategic vision, but almost no traditional financial track record yet. The reported numbers still look like a shell company—no real revenue, small losses, and a very slight capital base—while the narrative describes a much larger ambition around Korean content, crypto, and Web3 platforms. This gap between story and current financial substance is the central feature of the company right now. Future outcomes will hinge on whether it can successfully launch and scale its tokenization platform, integrate Rabbit Walk and other subsidiaries into a coherent content engine, and manage the risks of a Bitcoin-heavy treasury. Until there is visible, recurring revenue and more robust assets on the balance sheet, the profile remains high-opportunity but also high-uncertainty and highly dependent on execution and external market conditions.

NEWS

November 4, 2025 · 8:12 AM UTC

K Wave Media Appoints Yong Fang as Chief Financial Officer

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October 16, 2025 · 7:30 AM UTC

K Wave Media Founders Gift 10 percent of Total Shares Outstanding to Advance Financial Restructuring, Reduce Dilution, and Strengthen Balance Sheet

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September 29, 2025 · 7:00 AM UTC

K Wave Media Announces Plans to Launch One of the First Entertainment Tokenization Platforms with Strategic Investment from Galaxy Digital and Backing from Korea's Leading IP Companies

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September 5, 2025 · 7:20 AM UTC

K Wave Media Subsidiary Solaire Partners Selected to Manage $28 Million IPTV Fund, Signaling New Era for K-Content Market

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September 2, 2025 · 7:25 AM UTC

K Wave Media Accelerates Growth with First Acquisition Post-Listing, a Visual Effects and AI-powered Advertising Company, Adds World-Class Tech Companies as New Clients

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