Financial Data and Key Metrics Changes - Total GAAP revenue increased by 5% year-on-year to $3.6 billion in Q4 2023 and $13.1 billion for the full year of 2023, driven by improved monetization in e-commerce and digital financial services [90] - Total adjusted EBITDA was $127 million in Q4 2023, compared to $496 million in Q4 2022, while for the full year, adjusted EBITDA was $1.2 billion, a significant improvement from an adjusted EBITDA loss of $878 million in 2022 [91] - Cash position increased to $8.5 billion as of the end of 2023, reflecting disciplined investment strategies [72] Business Line Data and Key Metrics Changes - E-commerce Q4 GAAP revenue was $2.6 billion, with marketplace revenue up 23% year-on-year to $2.3 billion, and core marketplace revenue increased by 41% year-on-year to $1.6 billion [92] - Digital financial services GAAP revenue rose by 24% year-on-year to $472 million in Q4 and by 44% year-on-year to $1.8 billion for the full year [96] - Digital entertainment bookings were $456 million in Q4 and $1.8 billion for the full year, with adjusted EBITDA of $217 million in Q4 and $921 million for the full year [97] Market Data and Key Metrics Changes - Shopee's GMV and orders grew 29% and 46% year-on-year in Q4, respectively, indicating solid market share gains [77] - SeaMoney's consumer and SME loans principal outstanding reached $3.1 billion, a 27% increase year-on-year, with active users exceeding 16 million, a 28% increase year-on-year [84] Company Strategy and Development Direction - The company aims to maintain market share in 2024 with a focus on improving service quality, enhancing price competitiveness, and strengthening the content ecosystem for Shopee [74][75] - SeaMoney plans to invest in user acquisition for its credit business and expand digital banking and insurance services to capture future opportunities [85] - The company is focused on building a diverse portfolio in digital entertainment, with ongoing efforts to enhance user experiences and localize content [86][87] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability in 2024, with expectations for Shopee's GMV growth in the high-teens range and adjusted EBITDA turning positive in the second half of the year [74][85] - The competitive landscape has stabilized, allowing the company to gain market share while improving unit economics [107][112] - Management highlighted the importance of maintaining a flexible leadership approach to sustain competitive advantages [12] Other Important Information - The company achieved its first full year of annual profit since its IPO in 2023, marking a significant milestone [63] - The logistics network has been expanded, with improvements in delivery speed and cost efficiency, contributing to a strong competitive moat [78][81] Q&A Session Summary Question: Insights on competition in the e-commerce space in Indonesia - Management acknowledged that the absence of TikTok during part of Q4 benefited their performance, but emphasized that growth trends continued into Q1 despite changing competitive dynamics [6][7] Question: Future cash allocation strategies - Management indicated a disciplined approach to maintaining a strong cash balance while exploring various options for cash deployment, including potential buybacks [9] Question: Anticipated competitor spending during Ramadan - Management noted that Ramadan has already begun in Indonesia and expressed confidence in their competitive positioning, emphasizing the importance of flexible leadership [12] Question: Confidence in Free Fire's growth - Management highlighted positive trends in user acquisition and monetization for Free Fire, expecting double-digit growth in both user base and bookings for 2024 [14][87] Question: Shopee's GMV growth expectations - Management provided a conservative guidance for Shopee's growth, citing market conditions and the need to maintain competitive advantages while focusing on efficient growth [18][19] Question: Live streaming unit economics - Management reported improvements in live streaming unit economics and noted that it has become a significant part of their order volume [35][80] Question: Broader game portfolio for Garena - Management clarified that Garena is not solely focused on Free Fire, as they have multiple titles across various genres and are actively expanding their game portfolio [46][47]

Sea Ltd (NYSE:SE) stock is up 1% to trade at $52.02 at last check, after the tech name recorded its first annual profit and issued a strong outlook for 2024. A fourth-quarter revenue win thanks to 24% year-over-year growth and smaller-than-expected losses are boosting the shares as well.While analysts are yet to chime in on the results, the options pits are already buzzing. So far today, 47,000 calls and 25,000 puts have crossed the tape, or seven times the intraday average volume. The most popular contract ...

For the quarter ended December 2023, Sea Limited Sponsored ADR (SE) reported revenue of $3.56 billion, up 16.9% over the same period last year. EPS came in at -$0.01, compared to $1.25 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.59 billion, representing a surprise of -0.66%. The company delivered an EPS surprise of -150.00%, with the consensus EPS estimate being $0.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare w ...

SINGAPORE--(BUSINESS WIRE)--Sea Limited (NYSE: SE) (“Sea” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2023. “ I am happy to share that we have achieved our first full year of annual profit since our IPO,” said Forrest Li, Sea’s Chairman and Chief Executive Officer. “ In 2023, we achieved profitability, strengthened our market leadership for our e-commerce business, grew our digital financial services business, and stabilized the performanc ...

Financial Performance - Total GAAP revenue for Q4 2023 was $3.6 billion, up 4.8% year-on-year[5] - Total net loss for Q4 2023 was $(111.6) million, compared to a net income of $422.8 million in Q4 2022[5] - Total GAAP revenue for the full year 2023 was $13.1 billion, up 4.9% year-on-year, with total net income of $162.7 million compared to a net loss of $(1.7) billion in 2022[10] - Total revenue for the full year 2023 was $13,063,560, an increase of 4.9% compared to $12,449,705 in 2022[58] - The company reported a net income of $162,682 for the year ended December 31, 2023, a turnaround from a net loss of $(1,657,772) in 2022[69] Cash and Assets - Cash position increased to $8.5 billion as of December 31, 2023, a net increase of $565.7 million from Q3 2023[6] - Cash and cash equivalents decreased to $2,811,056 as of December 31, 2023, down from $6,029,859 in 2022, a reduction of 53.4%[59] - Total assets increased to $18,883,232 as of December 31, 2023, compared to $17,002,796 in 2022, marking a growth of 11.1%[59] - Total liabilities increased from $11,191,972 in 2022 to $12,185,647 in 2023, representing a growth of approximately 8.9%[60] - Total shareholders' equity rose from $5,810,824 in 2022 to $6,697,585 in 2023, an increase of about 15.2%[61] Segment Performance - E-commerce segment GAAP revenue was $2.6 billion, up 23.2% year-on-year, with core marketplace revenue increasing by 40.6% to $1.6 billion[7] - Digital financial services revenue was $510.8 million, down from $592.2 million in the previous quarter, with adjusted EBITDA of $217.4 million[8] - Digital Entertainment GAAP revenue decreased to US$2.2 billion for the full year ended December 31, 2023, down from US$3.9 billion in 2022[30] - E-commerce and other services GAAP revenue rose by 30.9% to US$9.8 billion for the full year ended December 31, 2023, from US$7.5 billion in 2022[30] - Revenue for the digital entertainment segment decreased from $3,877,163 in 2022 to $2,172,009 in 2023, a decline of approximately 44%[69] - E-commerce revenue increased from $7,288,677 in 2022 to $9,000,848 in 2023, reflecting a growth of about 23.5%[69] - Digital financial services revenue rose from $1,221,996 in 2022 to $1,759,422 in 2023, marking an increase of approximately 44%[69] Expenses and Losses - Total cost of revenue was US$7.2 billion for the full year ended December 31, 2023, compared to US$7.3 billion in 2022[31] - Sales and marketing expenses decreased by 15.0% to US$2.8 billion for the full year ended December 31, 2023, from US$3.3 billion in 2022[33] - General and administrative expenses decreased by 21.1% to US$1.1 billion for the full year ended December 31, 2023, from US$1.4 billion in 2022[35] - Provision for credit losses increased by 23.4% to US$633.9 million for the full year ended December 31, 2023, from US$513.7 million in 2022[36] - The company incurred a net loss of $111,615 in Q4 2023, compared to a net income of $422,838 in Q4 2022, indicating a shift of 126.4%[58] Operational Metrics - GMV for Q4 2023 was $23.1 billion, increasing by 28.6% year-on-year[8] - Quarterly active users were 528.7 million, down from 544.1 million in the previous quarter, with a stable paying user ratio of 7.5%[10] - Free Fire achieved over 100 million peak daily active users in February 2024, with expectations for double-digit year-on-year growth in both user base and bookings for 2024[3] - Adjusted EBITDA for the full year 2023 was $1.2 billion, compared to an adjusted EBITDA loss of $(878.1) million in 2022[10] - Adjusted EBITDA for the consolidated segments in Q4 2023 was $126,705, a significant decline from $495,656 in Q4 2022, representing a decrease of 74.5%[54] Other Financial Metrics - Basic earnings per share attributable to ordinary shareholders was US$0.27 for the full year ended December 31, 2023, compared to a loss of US$(2.96) in 2022[42] - The company recorded a net non-operating income of US$207.6 million for the full year ended December 31, 2023, compared to a net non-operating loss of US$(13.0) million in 2022[39] - Operating income for the year ended December 31, 2023, was $224,778, compared to an operating loss of $(1,487,508) in 2022, indicating a significant improvement in operational performance[69] - Research and development expenses for the full year 2023 were $1,164,126, a decrease from $1,376,501 in 2022, reflecting a reduction of 15.4%[58] - The impairment of goodwill for the full year 2023 was $117,875, down from $354,943 in 2022, indicating a reduction of 66.8%[58] - Unallocated expenses primarily related to share-based compensation and impairment of goodwill totaled $836,104 for the year ended December 31, 2023[70]

Sea Limited Sponsored ADR (SE) closed at $48.52 in the latest trading session, marking a +1.61% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.52%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.9%.Coming into today, shares of the company had gained 25.2% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 3.85%.The investment community will be closely monitoring th ...

Sea Limited (SE) is set to release its fourth-quarter 2023 results on Mar 04.The Zacks Consensus Estimate for earnings has been unchanged at 5 cents in the past 30 days. The figure declined 96% year over year.The consensus mark for revenues is currently pegged at $3.59 billion, indicating 17.71% growth from the year-ago quarter’s reported figure.The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing the same in the remaining, the average earnings surprise ...

In the latest trading session, Sea Limited Sponsored ADR (SE) closed at $44.69, marking a -0.67% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.6%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, lost 0.92%.Shares of the company have appreciated by 21.1% over the course of the past month, outperforming the Computer and Technology sector's gain of 3.1% and the S&P 500's gain of 3.56%.Analysts and investors alike will be keeping a close eye on ...

SINGAPORE--(BUSINESS WIRE)--Sea Limited (NYSE: SE) (“Sea” or the “Company”) plans to announce its fourth quarter and full year 2023 results before the U.S. market opens on March 4, 2024, U.S. Eastern Time. The Company’s management will host a conference call to discuss the fourth quarter and full year 2023 results. A live webcast of this conference call will be available on the Company’s website. Details of the webcast are as follows: Date and time: 7:30 AM U.S. Eastern Time on March 4, 2024 8:30 ...

As a leader in emerging-market e-commerce, digital payments, and mobile games, Singapore-based Sea Limited (SE 1.67%) might have had the ideal businesses model for a global pandemic -- and the least-ideal model for the post-pandemic world.No wonder the stock was a 10-bagger from its early pandemic low to its 2021 high. But likewise, no wonder that with its "stay at home" businesses slowing down, the stock has retreated by nearly 90% from that peak. The stock now sits practically where it was on the eve of t ...