Sea Q4 earnings up 72.9% at US$410.9 million; CEO Forrest Li says 'strategic choices' drove growth

[SINGAPORE] Technology company Sea on Tuesday (Mar 3) posted a net profit of US$410.9 million for its fourth quarter ended Dec 31, 2025, up 72.9 per cent from the US$237.6 million posted for the year-ago period.

Revenue stood at US$6.9 billion, a 38.4 per cent year-on-year increase from US$5 billion in Q4 FY2024.

Forrest Li, chairman and chief executive officer of the Singapore-headquartered, New York-listed group, said the improvements exceeded “initial growth expectations” and were underpinned by a “growing scale of users”.

“The strong set of 2025 results is a validation of the effectiveness of our strategic choices for Shopee,” he added.

Sea’s growth came on the back of higher contributions across its segments. Its e-commerce platform, Shopee, posted a revenue of US$5 billion, an increase of 35.8 per cent from a year earlier.

Its digital entertainment arm, Garena, recorded a 35.1 per cent year-on-year increase in revenue to US$701 million, while its digital financial services provider, Monee, posted 54.3 per cent growth in revenue to US$1.1 billion.

Li noted that in 2025, Shopee served around 400 million active buyers and 20 million sellers. Monee, meanwhile, gained more than 20 million first-time borrowers, and Garena served over 100 million players daily.

For FY2025, Sea’s net profit surged to US$1.6 billion from US$447.8 million a year earlier.

The group’s full-year revenue rose 36.4 per cent to US$22.9 billion, from US$16.8 billion in FY2024. Shopee’s revenue rose 33.4 per cent to US$16.6 billion, Monee’s revenue grew 60.1 per cent to US$3.8 billion, and Garena’s revenue was up 26.1 per cent at US$2.4 billion.

SEE ALSO

Noting that 2025’s performance was due to choosing “the right set of strategies” and executing them well, Li said that 2026 will be a “continuation of this approach”. He expects the group’s growth momentum and profitability to continue into 2026.

“For 2026, we aim to grow Shopee’s annual GMV (gross merchandise value) by around 25 per cent year on year, with its full-year adjusted earnings before tax, interest, depreciation and amortisation no lower than that of 2025 in absolute dollar terms,” he said. “We believe this is the right strategy to optimise Shopee’s long-term profitability.”