Sea Ltd
NYSE:SE
Sea Ltd
NYSE:SE
Price:
87.82
USD
-1.51%
Market Closed
Market Cap:
$52B
Income Statement
Earnings Waterfall
Sea Ltd
Sea Ltd
Income Statement
Sea Ltd
Sea Ltd
Currency: USD
| Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||
| Interest Expense |
2
|
9
|
17
|
27
|
33
|
29
|
30
|
31
|
33
|
40
|
41
|
48
|
63
|
96
|
131
|
124
|
151
|
130
|
122
|
137
|
124
|
112
|
87
|
45
|
44
|
43
|
42
|
41
|
40
|
40
|
39
|
38
|
38
|
37
|
36
|
0
|
|
| Revenue |
275
N/A
|
286
+4%
|
290
+1%
|
414
+43%
|
475
+15%
|
558
+17%
|
668
+20%
|
827
+24%
|
1 024
+24%
|
1 276
+25%
|
1 681
+32%
|
2 175
+29%
|
2 538
+17%
|
2 984
+18%
|
3 586
+20%
|
4 376
+22%
|
5 424
+24%
|
6 823
+26%
|
8 300
+22%
|
9 955
+20%
|
11 091
+11%
|
11 753
+6%
|
12 220
+4%
|
12 450
+2%
|
12 591
+1%
|
12 744
+1%
|
12 899
+1%
|
13 064
+1%
|
13 757
+5%
|
14 468
+5%
|
15 486
+7%
|
16 820
+9%
|
17 927
+7%
|
19 379
+8%
|
21 037
+9%
|
22 938
+9%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(181)
|
(201)
|
(226)
|
(327)
|
(407)
|
(506)
|
(622)
|
(812)
|
(978)
|
(1 142)
|
(1 349)
|
(1 570)
|
(1 766)
|
(2 109)
|
(2 506)
|
(3 027)
|
(3 637)
|
(4 305)
|
(5 181)
|
(6 059)
|
(6 671)
|
(7 173)
|
(7 422)
|
(7 264)
|
(7 159)
|
(6 952)
|
(6 892)
|
(7 230)
|
(7 786)
|
(8 363)
|
(8 962)
|
(9 615)
|
(10 039)
|
(10 667)
|
(11 586)
|
(12 695)
|
|
| Gross Profit |
93
N/A
|
85
-9%
|
64
-25%
|
87
+37%
|
69
-21%
|
51
-25%
|
46
-10%
|
15
-68%
|
46
+210%
|
135
+194%
|
332
+147%
|
605
+82%
|
772
+28%
|
876
+13%
|
1 080
+23%
|
1 349
+25%
|
1 788
+33%
|
2 518
+41%
|
3 119
+24%
|
3 896
+25%
|
4 420
+13%
|
4 580
+4%
|
4 799
+5%
|
5 185
+8%
|
5 432
+5%
|
5 793
+7%
|
6 006
+4%
|
5 834
-3%
|
5 971
+2%
|
6 105
+2%
|
6 524
+7%
|
7 205
+10%
|
7 888
+9%
|
8 713
+10%
|
9 451
+8%
|
10 244
+8%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(251)
|
(288)
|
(375)
|
(590)
|
(701)
|
(821)
|
(901)
|
(1 004)
|
(1 076)
|
(1 179)
|
(1 318)
|
(1 496)
|
(1 692)
|
(1 934)
|
(2 256)
|
(2 647)
|
(3 172)
|
(3 863)
|
(4 617)
|
(5 479)
|
(6 153)
|
(6 638)
|
(6 894)
|
(6 318)
|
(5 823)
|
(5 241)
|
(5 086)
|
(5 491)
|
(5 800)
|
(6 135)
|
(6 225)
|
(6 543)
|
(6 840)
|
(7 260)
|
(7 725)
|
(8 258)
|
|
| Selling, General & Administrative |
(232)
|
(266)
|
(352)
|
(553)
|
(669)
|
(787)
|
(859)
|
(923)
|
(1 003)
|
(1 085)
|
(1 199)
|
(1 321)
|
(1 517)
|
(1 749)
|
(2 066)
|
(2 436)
|
(2 981)
|
(3 614)
|
(4 251)
|
(4 863)
|
(5 409)
|
(5 694)
|
(5 758)
|
(5 092)
|
(4 730)
|
(4 222)
|
(4 189)
|
(4 445)
|
(4 859)
|
(5 163)
|
(5 226)
|
(5 446)
|
(5 814)
|
(6 224)
|
(6 691)
|
(7 223)
|
|
| Research & Development |
(17)
|
(18)
|
(20)
|
(29)
|
(34)
|
(40)
|
(50)
|
(67)
|
(85)
|
(108)
|
(134)
|
(155)
|
(191)
|
(232)
|
(292)
|
(350)
|
(430)
|
(528)
|
(655)
|
(823)
|
(1 031)
|
(1 229)
|
(1 419)
|
(1 361)
|
(1 357)
|
(1 269)
|
(1 129)
|
(1 152)
|
(1 148)
|
(1 163)
|
(1 185)
|
(1 198)
|
(1 198)
|
(1 196)
|
(1 181)
|
(1 157)
|
|
| Depreciation & Amortization |
(3)
|
(4)
|
0
|
(11)
|
0
|
0
|
0
|
(24)
|
0
|
0
|
0
|
(37)
|
(21)
|
0
|
0
|
(50)
|
0
|
0
|
0
|
(81)
|
0
|
0
|
0
|
(143)
|
0
|
0
|
0
|
(115)
|
0
|
0
|
0
|
(80)
|
0
|
0
|
0
|
0
|
|
| Other Operating Expenses |
1
|
1
|
(3)
|
3
|
2
|
6
|
8
|
10
|
13
|
13
|
14
|
16
|
38
|
47
|
102
|
190
|
239
|
279
|
288
|
288
|
287
|
286
|
283
|
279
|
263
|
250
|
231
|
221
|
207
|
192
|
186
|
180
|
171
|
161
|
147
|
121
|
|
| Operating Income |
(158)
N/A
|
(203)
-29%
|
(311)
-53%
|
(502)
-61%
|
(632)
-26%
|
(769)
-22%
|
(855)
-11%
|
(989)
-16%
|
(1 030)
-4%
|
(1 045)
-1%
|
(986)
+6%
|
(891)
+10%
|
(920)
-3%
|
(1 058)
-15%
|
(1 176)
-11%
|
(1 298)
-10%
|
(1 384)
-7%
|
(1 345)
+3%
|
(1 498)
-11%
|
(1 583)
-6%
|
(1 733)
-9%
|
(2 058)
-19%
|
(2 095)
-2%
|
(1 133)
+46%
|
(391)
+65%
|
552
N/A
|
920
+67%
|
343
-63%
|
171
-50%
|
(30)
N/A
|
300
N/A
|
662
+121%
|
1 047
+58%
|
1 452
+39%
|
1 726
+19%
|
1 985
+15%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(8)
|
(14)
|
16
|
(46)
|
(62)
|
(85)
|
(80)
|
35
|
(390)
|
(388)
|
(409)
|
(477)
|
(23)
|
13
|
(71)
|
(156)
|
(214)
|
(247)
|
(186)
|
(130)
|
(115)
|
(123)
|
(119)
|
(213)
|
(184)
|
(44)
|
11
|
169
|
102
|
46
|
47
|
74
|
197
|
224
|
236
|
275
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(30)
|
0
|
0
|
0
|
(2)
|
0
|
(177)
|
(177)
|
(155)
|
(273)
|
(96)
|
(96)
|
(79)
|
66
|
71
|
73
|
43
|
26
|
26
|
25
|
21
|
|
| Pre-Tax Income |
(166)
N/A
|
(217)
-31%
|
(295)
-36%
|
(549)
-86%
|
(694)
-27%
|
(855)
-23%
|
(935)
-9%
|
(954)
-2%
|
(1 420)
-49%
|
(1 433)
-1%
|
(1 395)
+3%
|
(1 369)
+2%
|
(943)
+31%
|
(1 045)
-11%
|
(1 247)
-19%
|
(1 483)
-19%
|
(1 598)
-8%
|
(1 592)
+0%
|
(1 684)
-6%
|
(1 715)
-2%
|
(1 848)
-8%
|
(2 358)
-28%
|
(2 391)
-1%
|
(1 501)
+37%
|
(849)
+43%
|
412
N/A
|
835
+103%
|
432
-48%
|
338
-22%
|
86
-75%
|
420
+388%
|
779
+85%
|
1 271
+63%
|
1 703
+34%
|
1 988
+17%
|
2 281
+15%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||
| Tax Provision |
(10)
|
(8)
|
(2)
|
(11)
|
(8)
|
(6)
|
(10)
|
(4)
|
(12)
|
(27)
|
(53)
|
(86)
|
(102)
|
(114)
|
(133)
|
(142)
|
(169)
|
(217)
|
(271)
|
(333)
|
(364)
|
(353)
|
(317)
|
(168)
|
(148)
|
(146)
|
(142)
|
(263)
|
(280)
|
(278)
|
(309)
|
(321)
|
(379)
|
(462)
|
(531)
|
(651)
|
|
| Income from Continuing Operations |
(176)
|
(225)
|
(297)
|
(559)
|
(702)
|
(861)
|
(945)
|
(958)
|
(1 432)
|
(1 460)
|
(1 448)
|
(1 454)
|
(1 045)
|
(1 159)
|
(1 380)
|
(1 625)
|
(1 768)
|
(1 809)
|
(1 955)
|
(2 048)
|
(2 211)
|
(2 711)
|
(2 709)
|
(1 669)
|
(997)
|
266
|
693
|
170
|
59
|
(192)
|
111
|
458
|
892
|
1 240
|
1 457
|
1 630
|
|
| Income to Minority Interest |
1
|
1
|
0
|
1
|
1
|
1
|
1
|
(0)
|
(2)
|
(3)
|
(4)
|
(5)
|
(5)
|
(4)
|
3
|
6
|
6
|
6
|
(1)
|
(4)
|
(3)
|
(5)
|
1
|
6
|
7
|
(1)
|
(10)
|
(12)
|
(13)
|
(2)
|
(1)
|
(4)
|
(11)
|
(21)
|
(19)
|
(33)
|
|
| Equity Earnings Affiliates |
(12)
|
(6)
|
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(3)
|
(4)
|
(3)
|
(1)
|
1
|
2
|
4
|
4
|
5
|
10
|
13
|
12
|
11
|
7
|
6
|
4
|
(7)
|
(6)
|
(7)
|
(12)
|
(10)
|
(10)
|
(24)
|
(19)
|
(19)
|
|
| Net Income (Common) |
(186)
N/A
|
(230)
-23%
|
(298)
-29%
|
(560)
-88%
|
(703)
-25%
|
(862)
-23%
|
(947)
-10%
|
(961)
-1%
|
(1 436)
-49%
|
(1 466)
-2%
|
(1 456)
+1%
|
(1 463)
0%
|
(1 054)
+28%
|
(1 166)
-11%
|
(1 378)
-18%
|
(1 618)
-17%
|
(1 759)
-9%
|
(1 800)
-2%
|
(1 953)
-9%
|
(2 047)
-5%
|
(2 204)
-8%
|
(2 704)
-23%
|
(2 696)
+0%
|
(1 651)
+39%
|
(984)
+40%
|
271
N/A
|
687
+153%
|
151
-78%
|
39
-74%
|
(201)
N/A
|
97
N/A
|
444
+357%
|
871
+96%
|
1 195
+37%
|
1 418
+19%
|
1 578
+11%
|
|
| EPS (Diluted) |
-0.57
N/A
|
-0.7
-23%
|
-0.91
-30%
|
-1.67
-84%
|
-2.09
-25%
|
-2.57
-23%
|
-2.78
-8%
|
-2.84
-2%
|
-3.87
-36%
|
-3.22
+17%
|
-3.16
+2%
|
-3.35
-6%
|
-2.3
+31%
|
-2.49
-8%
|
-2.83
-14%
|
-3.39
-20%
|
-3.41
-1%
|
-3.43
-1%
|
-3.01
+12%
|
-3.84
-28%
|
-3.95
-3%
|
-4.86
-23%
|
-4.82
+1%
|
-2.96
+39%
|
-1.64
+45%
|
0.44
N/A
|
1.19
+170%
|
0.25
-79%
|
0.05
-80%
|
-0.31
N/A
|
0.14
N/A
|
0.73
+421%
|
1.37
+88%
|
1.87
+36%
|
2.2
+18%
|
2.47
+12%
|
|
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