Financial Performance - Total GAAP revenue for Q3 2024 was US$4.3 billion, up 30.8% year-on-year from US$3.3 billion in Q3 2023[14] - Total net income for Q3 2024 was US$153.3 million, compared to a net loss of US$(144.0) million in Q3 2023[24] - Adjusted EBITDA for Q3 2024 was US$521.3 million, a significant increase from US$35.3 million in Q3 2023, representing a 1,377.5% year-on-year growth[12] - Total revenue for the nine months ended September 30, 2024, was $11,869,430, representing a 25.6% increase from $9,446,932 in the same period of 2023[39] - The company reported a net income of $210,235 for the nine months ended September 30, 2024, down from $274,297 in 2023, a decrease of 23.4%[39] - The net income for the consolidated entity in Q3 2024 was $153,324 thousand, compared to a net loss of $(143,978) thousand in Q3 2023, indicating a significant turnaround[47] User Metrics - Quarterly active users reached 628.5 million, up 15.5% year-on-year, while quarterly paying users increased by 23.9% to 50.2 million[11] - Gross orders for the quarter totaled 2.8 billion, reflecting a 24.2% year-on-year increase[6] Segment Performance - Shopee is on track for mid-twenties year-on-year GMV growth, with total GMV for the quarter at US$25.1 billion, increasing by 25.2% year-on-year[3] - Digital entertainment segment GAAP revenue was US$497.8 million, down 15.9% year-on-year, primarily due to increased deferred revenue[12] - Revenue for the digital commerce segment increased from $2,231,954 thousand in Q3 2023 to $3,183,558 thousand in Q3 2024, reflecting a growth of approximately 42.7%[47] - The digital financial services segment reported an operating income of $173,942 thousand in Q3 2024, compared to an operating income of $150,470 thousand in Q3 2023, indicating an increase of about 15.6%[47] - Adjusted EBITDA for the digital entertainment segment was $314,428 for the three months ended September 30, 2024, compared to $233,998 in the same period of 2023, an increase of 34.4%[37] Financial Position - Cash and cash equivalents as of September 30, 2024, were US$9.9 billion, a net increase of US$929.2 million from June 30, 2024[6] - Total assets increased to $21,691,690 as of September 30, 2024, from $18,883,232 as of December 31, 2023, reflecting a growth of 14.7%[41] - Total liabilities rose to $13,663,111 as of September 30, 2024, compared to $12,185,647 as of December 31, 2023, an increase of 12.1%[42] - The company’s cash and cash equivalents decreased to $2,538,749 as of September 30, 2024, from $2,811,056 as of December 31, 2023, a decline of 9.7%[41] - Total liabilities and shareholders' equity increased from $18,883,232 thousand as of September 30, 2023, to $21,691,690 thousand as of September 30, 2024, representing a rise of approximately 14.8%[43] Loan and Cash Flow Metrics - SeaMoney's loan book grew by over 70% year-on-year, with consumer and SME loans principal outstanding at US$4.6 billion, up 73.2% year-on-year[11] - Non-performing loans past due by more than 90 days were 1.2%, showing a slight improvement quarter-on-quarter[11] - Net cash generated from operating activities rose from $1,800,855 thousand for the nine months ended September 30, 2023, to $2,256,438 thousand for the same period in 2024, an increase of about 25.3%[44] - Net cash used in investing activities decreased from $4,755,908 thousand for the nine months ended September 30, 2023, to $3,279,780 thousand for the same period in 2024, a reduction of approximately 31.0%[44] Shareholder Metrics - Basic earnings per share decreased to $0.36 for the nine months ended September 30, 2024, down from $0.46 in 2023, a decline of 21.7%[39] - Total shareholders' equity increased from $6,697,585 thousand as of September 30, 2023, to $8,028,579 thousand as of September 30, 2024, representing a growth of approximately 19.9%[43] - The accumulated deficit improved from $(8,599,306) thousand as of September 30, 2023, to $(8,392,333) thousand as of September 30, 2024, showing a decrease of about 2.4%[43] Cash Flow and Non-Operating Income - Cash, cash equivalents, and restricted cash at the end of the period decreased slightly from $4,761,676 thousand as of September 30, 2023, to $4,266,252 thousand as of September 30, 2024[44] - Non-operating income, net, for the consolidated entity was $49,536 thousand in Q3 2024, compared to $45,875 thousand in Q3 2023, reflecting a modest increase of about 3.6%[47]

Key TakeawaysShopee parent Sea Limited reported strong sales from its e-commerce and financial services units, sending its U.S.-listed shares higher Tuesday. Sea's third-quarter revenue was up 30.8% from a year ago to $4.33 billion, exceeding forecasts.E-commerce sales jumped 42.6%, and financial services sales added 38%. Sea Limited's (SE) U.S.-listed shares jumped Tuesday after the Singapore-based company posted better-than-expected sales on strong demand for its e-commerce and financial services. The pa ...

Third Quarter 2024 Results November 2024 connectina the dots Disclaimer This presentation by Sea Limited ("Sea") contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "could," "will," "expect," "anticipate," "aim," "future," "intend," "plan," "believe," "estimate," "likely to," "potential," "confident," "guidance," and simi ...

Group 1 - The article recommends buying Sea Limited (NYSE: SE) stock, highlighting the growth of its e-commerce platform Shopee in Brazil [1] - The author has over 5 years of experience in equity analysis in Latin America, providing in-depth research and insights for informed investment decisions [1] Group 2 - No stock, option, or similar derivative positions are held by the author in any mentioned companies, nor are there plans to initiate such positions in the near future [2] - The article expresses the author's own opinions and is not influenced by compensation from any company [2]

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