Sea Limited Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Operating Revenue	22,938	16,820	13,064	12,450	9,955
Revenue	22,938	16,820	13,064	12,450	9,955
Revenue Growth (YoY)	36.38%	28.75%	4.93%	25.06%	127.51%
Cost of Revenue	12,695	9,615	7,230	7,264	6,059
Gross Profit	10,244	7,205	5,834	5,185	3,896
Selling, General & Admin	5,850	4,740	3,914	4,707	4,818
Research & Development	1,157	1,206	1,164	1,377	831.7
Other Operating Expenses	-121.33	-180.44	-221.02	-279.18	-287.95
Operating Expenses	8,258	6,543	5,491	6,318	5,479
Operating Income	1,985	662.15	342.65	-1,133	-1,583
Interest Expense	-33.61	-38.34	-41.08	-45.4	-136.88
Interest & Investment Income	331.07	365.82	331.31	115.52	36.08
Earnings From Equity Investments	-18.88	-9.79	-7.03	11.16	5.02
Currency Exchange Gain (Loss)	20.52	-3.25	4.49	-75.51	14.24
EBT Excluding Unusual Items	2,284	976.59	630.34	-1,127	-1,665
Impairment of Goodwill	-	-	-117.88	-354.94	-
Gain (Loss) on Sale of Investments	-43.44	-250.22	-125.66	-207.33	-43.5
Other Unusual Items	21.02	42.62	38.55	199.7	-2.07
Pretax Income	2,262	769	425.36	-1,489	-1,710
Income Tax Expense	651.08	321.17	262.68	168.4	332.87
Earnings From Continuing Operations	1,611	447.83	162.68	-1,658	-2,043
Minority Interest in Earnings	-32.75	-3.51	-11.96	6.35	-3.73
Net Income	1,578	444.32	150.73	-1,651	-2,047
Net Income to Common	1,578	444.32	150.73	-1,651	-2,047
Net Income Growth	255.18%	194.79%	-	-	-
Shares Outstanding (Basic)	595	575	567	558	533
Shares Outstanding (Diluted)	638	605	594	558	533
Shares Change (YoY)	5.54%	1.73%	6.50%	4.77%	11.62%
EPS (Basic)	2.65	0.77	0.27	-2.96	-3.84
EPS (Diluted)	2.52	0.74	0.25	-2.96	-3.84
EPS Growth	240.54%	196.00%	-	-	-
Free Cash Flow	4,511	2,959	1,838	-1,980	-563.53
Free Cash Flow Per Share	7.07	4.89	3.09	-3.55	-1.06
Gross Margin	44.66%	42.84%	44.66%	41.65%	39.13%
Operating Margin	8.65%	3.94%	2.62%	-9.10%	-15.90%
Profit Margin	6.88%	2.64%	1.15%	-13.26%	-20.56%
Free Cash Flow Margin	19.66%	17.59%	14.07%	-15.90%	-5.66%
EBITDA	2,357	1,052	783.5	-704.22	-1,304
EBITDA Margin	10.28%	6.25%	6.00%	-5.66%	-13.10%
D&A For EBITDA	372.17	389.67	440.85	428.34	279.03
EBIT	1,985	662.15	342.65	-1,133	-1,583
EBIT Margin	8.65%	3.94%	2.62%	-9.10%	-15.90%
Effective Tax Rate	28.78%	41.77%	61.75%	-	-
Revenue as Reported	22,938	16,820	13,064	12,450	9,955

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.