WebP can be either lossless or lossy. These two modes achieve objectively better compression than PNG or JPEG, respectively. Obviously, you need to pay attention to the settings to get the best file size for your use case.

[–] weker01@sh.itjust.works 2 points 2 weeks ago (1 children)

That is actually something I really dislike. Lossless and lossy formats should be immediately distinguishable.

[–] ChaoticNeutralCzech@feddit.org 1 points 5 days ago* (last edited 5 days ago)

What if I told you JPEG can be lossless too? By dialing the quality to 100% and using the rare setting of 4:4:4 RGB to prevent loss through colorspace conversion, you can create JPEG files that store any 8bit picture losslessly. It will be larger than a BMP for some of them but that is correct for any lossless format.