Sea Limited Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	25,195	22,939	16,820	13,064	12,450	9,955
Revenue Growth (YoY)	40.54%	36.38%	28.75%	4.93%	25.06%	127.51%
Cost of Revenue	14,042	12,695	9,615	7,230	7,264	6,059
Gross Profit	11,153	10,244	7,205	5,834	5,185	3,896
Selling, General & Admin	6,431	5,850	4,740	3,914	4,707	4,818
Research & Development	1,158	1,157	1,206	1,164	1,377	831.7
Other Operating Expenses	1,442	1,251	596.49	530.8	589.45	-170.52
Operating Income	2,122	1,985	662.15	224.78	-1,488	-1,583
Interest Income	137.34	331.07	365.82	331.31	115.52	36.08
Interest Expense	-8.3	-33.61	-38.34	-41.08	-45.4	-136.88
Other Non-Operating Income (Expense)	-28.35	-20.79	-220.63	-89.65	-71.99	-26.31
Total Non-Operating Income (Expense)	100.7	276.67	106.84	200.58	-1.87	-127.11
Pretax Income	2,223	2,262	769	425.36	-1,489	-1,710
Provision for Income Taxes	728.77	651.08	321.17	262.68	168.4	332.87
Net Income	1,614	1,578	444.32	150.73	-1,651	-2,047
Minority Interest in Earnings	24.06	32.75	3.51	11.96	-6.35	3.73
Net Income to Common	1,614	1,578	444.32	150.73	-1,651	-2,047
Net Income Growth	84.78%	255.18%	194.79%	-	-	-
Shares Outstanding (Basic)	601	595	575	567	558	533
Shares Outstanding (Diluted)	638	638	605	594	558	533
Shares Change (YoY)	3.99%	5.54%	1.73%	6.50%	4.77%	11.62%
EPS (Basic)	2.67	2.65	0.77	0.27	-2.96	-3.84
EPS (Diluted)	2.54	2.52	0.74	0.25	-2.96	-3.84
EPS Growth	78.87%	240.54%	196.00%	-	-	-
Shares Outstanding	611.03	611.03	589.11	572.34	564.76	557.74
Free Cash Flow	-	4,511	2,959	1,838	-1,980	-563.53
Free Cash Flow Growth	-	52.43%	61.00%	-	-	-
Free Cash Flow Per Share	-	7.07	4.89	3.09	-3.55	-1.06
Gross Margin	44.27%	44.66%	42.84%	44.66%	41.65%	39.13%
Operating Margin	8.42%	8.65%	3.94%	1.72%	-11.95%	-15.90%
Profit Margin	6.50%	7.02%	2.66%	1.25%	-13.32%	-20.52%
FCF Margin	-	19.66%	17.59%	14.07%	-15.90%	-5.66%
EBITDA	2,122	2,357	1,052	665.62	-1,059	-1,304
EBITDA Margin	8.42%	10.28%	6.25%	5.10%	-8.51%	-13.10%
EBIT	2,122	1,985	662.15	224.78	-1,488	-1,583
EBIT Margin	8.42%	8.65%	3.94%	1.72%	-11.95%	-15.90%
Effective Tax Rate	32.79%	28.78%	41.76%	61.75%	-11.31%	-19.46%

Updated Mar 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.