Sea (SE) Company Report

Sea Limited's board of directors has authorized a share repurchase program.
Under this program, Sea Limited may repurchase up to US$1 billion of its American depositary shares (ADS).
The timing and amount of any repurchases will be determined based on market conditions and other considerations.
The program demonstrates the company's confidence in its long-term prospects and allows for opportunistic share repurchases.

Nov 17, 2025, 11:02 AM

6-K

Sea Limited Reports Strong Third Quarter 2025 Results

Earnings

Guidance Update

Revenue Acceleration/Inflection

Sea Limited reported total GAAP revenue of US$6.0 billion for the third quarter of 2025, marking a 38.3% year-on-year increase, with net income reaching US$375.0 million.
The e-commerce segment, Shopee, achieved a record-setting quarter with GMV of US$32.2 billion, up 28.4% year-on-year, and adjusted EBITDA of US$186.1 million. The company now expects Shopee's full-year 2025 GMV growth to be more than 25%.
Digital Financial Services (Monee) saw its GAAP revenue increase by 60.8% year-on-year to US$989.9 million, with consumer and SME loans principal outstanding growing 69.8% year-on-year to US$7.9 billion as of September 30, 2025.
Digital Entertainment (Garena) delivered bookings of US$840.7 million, a 51.1% year-on-year increase, driven by 670.8 million quarterly active users and 65.9 million quarterly paying users. Garena remains on track to achieve more than 30% year-on-year growth in bookings for 2025.

Nov 12, 2025, 11:04 AM

6-K

Sea Limited Reports Strong Q3 2025 Financial Performance and Raises Shopee's Full-Year GMV Growth Guidance

Earnings

Guidance Update

New Projects/Investments

Sea Limited achieved total revenue of $6 billion, representing 38% year-on-year growth, and adjusted EBITDA of $874 million, up 68% year-on-year in the third quarter of 2025. The company reported a net income of $375 million for the quarter.
Shopee delivered $32.2 billion in GMV, an increase of 28% year-on-year, and $4.3 billion in GAAP revenue. Following strong performance, the company now expects Shopee's full-year 2025 GMV growth to be more than 25%.
Digital financial services revenue grew 61% year-on-year to $990 million, with adjusted EBITDA increasing 37% year-on-year to $258 million. The loan book expanded to $7.9 billion by the end of September, up 70% year-on-year, while maintaining a 90-day NPL ratio of 1.1%.
Digital entertainment bookings were up 51% year-on-year to $841 million, and adjusted EBITDA grew 48% year-on-year to $466 million, marking its best quarter since 2021.
The company continues to focus on strategic investments in logistics capability enhancement, fulfillment capability development, and leveraging AI to improve the consumer retail experience and seller tools.

Nov 11, 2025, 12:30 PM

Transcript

Sea Limited Announces Strong Q3 2025 Results

Earnings

Revenue Acceleration/Inflection

Guidance Update

Sea Limited reported GAAP Revenue of $6.0 billion and Net Income of $375.0 million for Q3 2025, reflecting continued strong growth and profitability.
The E-commerce segment achieved GAAP Revenue of $4.3 billion and a Gross Merchandise Value (GMV) of $32.2 billion in Q3 2025, with Shopee's full-year 2025 GMV growth expected to be more than 25%.
Digital Entertainment bookings reached $841 million in Q3 2025, and Garena is on track to achieve more than 30% YoY growth in bookings for 2025.
The Digital Financial Services segment reported GAAP Revenue of $989.9 million and Loans Principal Outstanding of $7.9 billion in Q3 2025.

Nov 11, 2025, 12:30 PM

Presentation

Sea Ltd. Reports Strong Q3 2025 Results with Significant Growth Across All Segments

Earnings

Guidance Update

New Projects/Investments

Sea Ltd. (SE) reported robust Q3 2025 financial results, with total revenue increasing 38% year-on-year to $6 billion and adjusted EBITDA growing 68% year-on-year to $874 million.
Its e-commerce arm, Shopee, achieved 28% year-on-year GMV growth to $32.2 billion and expects full-year 2025 GMV growth to exceed 25%.
Digital financial services, SeaMoney, saw revenue grow 61% year-on-year to $990 million, with its loan book expanding 70% year-on-year to $7.9 billion.
Digital Entertainment, Garena, delivered its best quarter since 2021, with bookings up 51% year-on-year to $841 million, and is on track for over 30% year-on-year bookings growth for 2025.
The company continues to invest in strategic areas such as logistics, user engagement programs like Shopee VIP (members spend 40% more), and AI applications to drive growth and improve efficiency.

Nov 11, 2025, 12:30 PM

Transcript

Sea Limited Reports Strong Q3 2025 Financial Results and Updated Full-Year Guidance

Earnings

Guidance Update

New Projects/Investments

Sea Limited reported total GAAP revenue of $6 billion, a 38% year-on-year increase, and adjusted EBITDA of $874 million for the third quarter of 2025.
Shopee's GMV grew 28% year-on-year to $32.2 billion, with E-commerce adjusted EBITDA reaching $186 million in Q3 2025.
Digital financial services revenue increased 61% year-on-year to $990 million, and its consumer and SME loan principal outstanding expanded 70% year-on-year to $7.9 billion by the end of September.
Garena's digital entertainment bookings grew 51% year-on-year to $841 million in Q3 2025.
The company updated its full-year 2025 guidance, expecting Shopee's GMV growth to be more than 25% and Garena's bookings to achieve more than 30% year-on-year growth.

Nov 11, 2025, 12:30 PM

Transcript

Sea Limited Reports Strong Second Quarter 2025 Results

Earnings

Guidance Update

Revenue Acceleration/Inflection

Sea Limited announced robust financial results for the second quarter ended June 30, 2025, with total GAAP revenue increasing by 38.2% year-on-year to US$5.3 billion and total net income reaching US$414.2 million, compared to US$79.9 million in the second quarter of 2024.
All three core businesses demonstrated strong growth: E-commerce GAAP revenue grew 33.7% to US$3.8 billion, Digital Financial Services GAAP revenue increased 70.0% to US$882.8 million, and Digital Entertainment GAAP revenue rose 28.4% to US$559.1 million.
The company significantly improved its overall profitability, with total adjusted EBITDA increasing to US$829.2 million in Q2 2025 from US$448.5 million in Q2 2024. Notably, E-commerce adjusted EBITDA turned positive at US$227.7 million, compared to a loss of US$(9.2) million in the second quarter of 2024.
Sea Limited raised its full-year guidance for Garena (Digital Entertainment), now expecting bookings to grow more than 30% in 2025 year-on-year.

Aug 12, 2025, 12:00 AM

6-K

Sea Ltd Q1 2025 Earnings Call & Strong Results

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Sea Ltd reported GAAP revenue of US$4.8 billion (up 30% YoY), operating income of US$456.4 million, and adjusted EBITDA of US$947 million in Q1 2025 .
Digital Financial Services (branded as Money) delivered robust growth with US$787.1 million in GAAP revenue, over 50% YoY revenue and adjusted EBITDA growth, and a loan book expansion of over 75% YoY to US$5.8 billion with more than 28 million active borrowers .
Digital Entertainment and Gaming showed strong momentum with bookings surging to US$775.4 million (quarterly paying user ratio of 9.8% ) and, in gaming, bookings up 51% YoY with adjusted EBITDA rising 57% YoY, supported by strategic launches like Delta Force Mobile and Free City .
E-commerce strength: Shopee achieved record high GMV with 3.1 billion gross orders, accompanied by improved monetization and enhanced cost efficiencies .
The company maintained a solid liquidity position with a gross cash balance of US$946.5 million .

May 13, 2025, 11:30 AM

Transcript Presentation

Earnings Transcripts

Quarterly earnings call transcripts for Sea.

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