Sea Limited, a prominent consumer internet company based in Singapore, has reported robust financial results for the first quarter ended March 31, 2025. The company recorded total revenue of $4.8 billion, reflecting a year-on-year increase of 29.6%, alongside a significant turnaround with a net income of $410.8 million compared to a loss of $23 million in the same period last year.
In e-commerce, Sea’s flagship platform Shopee achieved record highs, delivering 3.1 billion gross orders and a Gross Merchandise Value (GMV) of $28.6 billion, marking increases of 20.5% and 21.5% year-on-year, respectively. The e-commerce segment’s revenue reached $3.5 billion, up 28.3%, driven by strong marketplace and value-added services performance. Sea’s Chairman and CEO, Forrest Li, highlighted the company’s focus on price competitiveness, service quality, and content ecosystem which underpin Shopee’s leading market position in Asia and Brazil.
In the digital financial services segment, previously known as SeaMoney and now rebranded as Monee, revenue surged by 57.6% to $787.1 million. Li emphasized Monee’s successful growth trajectory, evidencing a stable asset quality and strong performance, with loans outstanding rising to $5.8 billion, maintaining a low non-performing loans ratio of 1.1%.
The digital entertainment arm, Garena, reported a significant increase in user engagement and revenue, with bookings rising by 51.4% to $775.4 million. Sea attributed the growth to the partnership with the popular game Free Fire, which saw DAU numbers nearing peak levels from previous years.
In addition to extraordinary revenue growth, Sea also improved its profitability with a total adjusted EBITDA of $946.5 million, up 135.9% from the prior year. The company is optimistic about achieving its full-year guidance, thanks to consistent growth and operational efficiency across its diversified business units.
This positive trajectory reflects Sea Limited’s resilience and adaptability in the changing digital landscape, positioning it well for continued success in its core sectors of e-commerce, financial services, and digital entertainment, a hopeful indication for shareholders and customers alike.