Core Insights - Remitly Global, Inc. is hosting a webinar focused on product innovation and stablecoins on September 9, 2025 [1] - The company will also hold a product event named "Remitly Reimagine" on the same day, which will be available for live streaming and replay [2] - Remitly operates in over 170 countries, providing digital financial services that facilitate cross-border payments [3] Event Details - The Remitly Webinar on Product Innovation/Stablecoins is scheduled for September 9, 2025, at 11 a.m. Eastern Time [1] - The Remitly Reimagine event will take place on the same day at 5 p.m. Eastern Time [1] - Interested parties can register for the webinar or access the replay on Remitly's investor relations website [1][2] Company Overview - Remitly is recognized as a trusted provider of digital financial services, focusing on fast, reliable, and transparent money movement experiences [3] - The company is expanding its product offerings to enhance its vision and impact lives globally [3]

Core Viewpoint - Sea Limited is experiencing significant momentum in its business, with a stock increase of 66% in 2025, outperforming the S&P 500 index, which is up by 10% year to date [1][2]. Business Segments - Sea Limited operates in three main segments: e-commerce (Shopee), digital financial services (Monee), and digital entertainment (Garena) [1][4]. - Shopee is the largest e-commerce platform in Southeast Asia, processing 3.3 billion orders valued at $29.8 billion in Q2 2025, representing a 28% year-over-year increase [4]. - The Monee platform, which provides loans to merchants and consumers, saw its loan book grow by 90% to $6.9 billion in Q2, driven by 30 million active users [5]. - The digital entertainment segment reported 664.8 million active users in Q2, marking the third consecutive quarter of growth, indicating a potential recovery from previous declines [6][7]. Financial Performance - Sea generated $5.3 billion in total revenue during Q2, a 38.2% increase from the previous year, accelerating from 29.6% growth in Q1 [8]. - Revenue breakdown for Q2 includes: - E-commerce (Shopee): $3.8 billion, 33.7% growth - Digital Financial Services (Monee): $882.8 million, 70% growth - Digital Entertainment (Garena): $559.1 million, 28.4% growth [9]. - The total adjusted EBITDA surged by 85% year-over-year to $829.2 million, with the digital financial services and digital entertainment segments contributing significantly to profitability [10][11]. Valuation and Future Outlook - Sea's stock is currently trading 51% below its 2021 peak, with a price-to-sales (P/S) ratio of 5.4, which is more reasonable compared to its historical average of 9 [12]. - Wall Street estimates suggest Sea's annual revenue could reach $26.4 billion by 2026, implying a forward P/S ratio of 3.6, indicating potential for a 104% stock price increase over the next 18 months [14]. - The company holds $10.6 billion in cash and equivalents, providing financial flexibility for further investments and growth [15].

Core Insights - Sea Limited (SE) reported adjusted earnings of 85 cents per share in Q2 2025, missing the Zacks Consensus Estimate by 14.14% and showing an increase from 46 cents per share in the same quarter last year [1] - Revenues reached $5.3 billion, a 38.2% year-over-year increase, driven by growth in e-commerce and digital financial services, surpassing the Zacks Consensus Estimate by 4.67% [1] Revenue Breakdown - Digital Entertainment (Garena) revenues were $559.1 million, up 28.4% year-over-year, supported by an increase in active users and paying user penetration [2] - Quarterly active users reached 664.8 million, a 2.6% increase year-over-year, while paying users increased by 17.8% to 61.8 million, raising the paying user ratio to 9.3% from 8.1% [2] - E-commerce (Shopee) service revenues totaled $3.8 billion, a 33.7% year-over-year increase, including GAAP marketplace revenues of $3.3 billion and GAAP product revenues of $0.5 billion [3] - Gross Merchandise Value (GMV) increased by 28.2% year-over-year to $29.8 billion, with gross orders reaching 3.3 billion, a 28.6% increase [4] - Digital Financial Services revenues surged 70% year-over-year to $882.8 million, driven by a loan book growth of 94% to $6.9 billion [5] Profitability Metrics - Gross profit increased by 52.1% year-over-year to $2.41 billion, with gross margin expanding by 420 basis points to 45.8% [7] - Adjusted EBITDA rose 84.9% year-over-year to $829.2 million, with an adjusted EBITDA margin of 15.8%, expanding by 400 basis points [9] - Digital Entertainment's adjusted EBITDA increased by 21.6% to $368.2 million, while E-commerce adjusted EBITDA reached $227.7 million, a significant turnaround from a loss of $9.2 million in the prior year [9] Cash Flow and Balance Sheet - As of June 30, 2025, Sea Limited had cash and cash equivalents of $2.17 billion, slightly down from $2.18 billion as of March 31, 2025 [11] - The company generated $1.62 billion in cash from operating activities in the reported quarter, compared to $756.9 million in the previous quarter [11]

Core Viewpoint - Sea Limited reported strong financial performance in Q2 2025, with revenue of $5.259 billion, a year-on-year increase of 38.2%, exceeding market expectations by $300 million [1][15] - The company achieved a net profit of $414 million, marking a significant year-on-year growth of 418.3% [1] - The e-commerce platform Shopee saw a 25% year-on-year increase in gross merchandise value (GMV) in the first half of 2025, leading in order volume in the Brazilian market [1][3] Financial Performance - In Q2 2025, Sea Group's total revenue reached $4.973 billion, a 32% year-on-year increase and a 2.7% quarter-on-quarter increase, surpassing market expectations [3] - E-commerce contributed $3.62 billion (72.8% of total revenue), digital financial services (Monee) generated $810 million (16.3%), and digital entertainment (Garena) brought in $520 million (10.4%) [3] - Adjusted EBITDA was $760 million, a 71% year-on-year increase, with an EBITDA margin of 15.3%, a historical high [3] - Net profit reached $480 million, compared to a loss of $23 million in the same period last year, marking the first time the company achieved profitability for two consecutive quarters [3] Growth Drivers - E-commerce: GMV reached $35.2 billion, a 23% year-on-year increase, with order volume exceeding 3.8 billion, a 21% increase [3] - Digital Financial Services: Loan principal reached $6.8 billion, a 75% year-on-year increase, with total revenue growing by 58% [3][5] - Digital Entertainment: Game revenue grew by 18%, with "Free Fire" maintaining a strong user base and new game "Delta Force" performing well in Southeast Asia and the Middle East [6] Market Position and Highlights - In Southeast Asia, Shopee maintained its leading position despite competition from TikTok Shop, with GMV growth rates of 25% and 22% in Indonesia and Thailand, respectively [4] - In Brazil, GMV grew by 40%, achieving profitability for the first time in a single quarter, aided by effective localization strategies [4] - Content ecosystem upgrades included a rise in live/short video orders to 22%, with over 500,000 YouTube videos embedding Shopee product links [4] Digital Financial Services Synergy - Monee wallet had 120 million monthly active users, with over 60% of payments on Shopee coming from it [5] - Supply chain financing for sellers reached $1.2 billion, with interest rates 2-3% lower than traditional banks, enhancing seller loyalty [5] Gaming Business and Globalization - "Free Fire" saw a 120% year-on-year increase in daily active users in Africa, with in-game virtual goods revenue rising to 45% [6] - New game "Free City" launched in Argentina and the Philippines, generating over $50 million in its first month [6] Future Outlook and Strategic Focus - E-commerce efficiency improvements include plans to build 10 automated sorting centers in Southeast Asia by the end of 2025, aiming to increase 2-day delivery orders from 45% to 60% [7] - Digital financial services will extend cross-border payments and introduce innovative insurance products [7] - The gaming business will focus on building an IP ecosystem, with plans to launch a "Harry Potter" mobile game in Q1 2026, expected to generate over $300 million in its first year [7] Growth Certainty and Valuation - Sea's Q2 2025 results demonstrate resilience as a Southeast Asian tech giant, with a profitable e-commerce model and a growing digital financial services segment [8] - Despite short-term pressures from TikTok Shop and currency fluctuations, long-term growth potential remains strong, with e-commerce penetration in Southeast Asia at only 6.5% [8] - Current stock price has risen 750% from the IPO price of $17, reflecting optimistic market expectations for long-term potential [8]

Core Insights - Sea Limited reported revenue of $5.36 billion for the quarter ended June 2025, reflecting a year-over-year increase of 37.2% and a surprise of +4.67% over the Zacks Consensus Estimate of $5.12 billion [1] - The company's EPS was $0.85, up from $0.46 in the same quarter last year, although it fell short of the consensus estimate of $0.99 by -14.14% [1] Financial Performance Metrics - Gross GMV for E-commerce reached $29.8 million, exceeding the average estimate of $28.6 million [4] - Quarterly active users totaled 665, slightly above the average estimate of 664 [4] - Gross Orders in E-commerce were 3.3 billion, surpassing the average estimate of 3.03 billion [4] - Bookings for Digital Entertainment amounted to $661.3 million, compared to the estimated $635.72 million [4] - Quarterly paying users were 62, exceeding the average estimate of 60 [4] - Revenue from Digital Entertainment was $559.12 million, above the average estimate of $520.42 million [4] - Revenue from E-Commerce reached $3.77 billion, compared to the average estimate of $3.62 billion, marking a +33.7% year-over-year change [4] - Revenue from Digital Financial Services was $882.81 million, exceeding the average estimate of $799.75 million, with a +70% year-over-year increase [4] - Revenue from Other Services was $46.48 million, surpassing the average estimate of $36.66 million, reflecting a +51.4% year-over-year change [4] - Adjusted EBITDA for Digital Entertainment was $368.19 million, slightly above the average estimate of $357.85 million [4] - Adjusted EBITDA for E-commerce was $227.69 million, below the average estimate of $248.63 million [4] - Unallocated expenses showed an adjusted EBITDA of -$8.14 million, better than the average estimate of -$20.22 million [4] Stock Performance - Sea Limited's shares have returned -3.2% over the past month, contrasting with the Zacks S&P 500 composite's +2% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Financial Data and Key Metrics Changes - Total GAAP revenue increased by 38% year on year to $5.3 billion in Q2 2025, driven primarily by GMV growth in e-commerce and digital financial services [30] - Total adjusted EBITDA rose to $829 million in 2025 from $448 million in 2024 [30] - Net income for Q2 2025 was $440 million, compared to $80 million in Q2 2024 [33] Business Line Data and Key Metrics Changes E-commerce (Shopee) - Shopee's gross orders grew by 29% year on year to $3.3 billion in 2025, with GMV increasing by 28% year on year to $29.8 billion [30] - Advertising revenue saw a significant increase, with the number of sellers using ad products rising by around 20% and average quarterly ad spend growing by over 40% year on year [9][30] - Adjusted EBITDA for e-commerce was $228 million in 2025, compared to an adjusted EBITDA loss of $9 million in 2024 [30] Digital Financial Services (Money) - Digital financial services revenue increased by 70% year on year to $883 million, with adjusted EBITDA up by 55% year on year to $255 million [30] - The loan book grew over 90% year on year to reach $6.9 billion, with active users for consumer and SME loan products exceeding 30 million [18][30] Digital Entertainment (Garena) - Digital entertainment bookings grew by 23% year on year to $661 million, with GAAP revenue up 28% year on year to $559 million [30] - Adjusted EBITDA for digital entertainment was $368 million, up 22% year on year [30] Market Data and Key Metrics Changes - In Brazil, Shopee's average monthly active buyers rose by over 30% year on year, significantly outpacing the industry average [14] - The logistics cost per order in Brazil was reduced by 15%, and average delivery time improved by more than two days year on year [15] Company Strategy and Development Direction - The company aims to prioritize growth while improving profitability across all three business lines, with a focus on cost efficiency and cash accumulation [6][7] - The expansion of the Shopee VIP membership program and instant delivery services is expected to enhance user engagement and retention [12][46] - The company is committed to leveraging AI technologies to improve ad tech and enhance user experience across its platforms [81][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum into Q3 2025, with expectations for full-year growth to exceed initial guidance [36] - The competitive landscape in Brazil remains favorable, with the company maintaining a strong cost structure and competitive pricing despite competitor adjustments [39][55] - The digital financial services segment is seen as having significant long-term growth potential, particularly in Brazil, where the penetration of BNPL is still in early stages [68] Other Important Information - The company has achieved EBITDA positivity across all three business lines since the second half of the previous year [6] - The Shopee platform has become a market leader in Brazil, promoting digital entrepreneurship among local sellers [16] Q&A Session Summary Question: Will the strong GMV performance lead to a full-year guidance raise? - Management indicated that Q3 growth is expected to be similar to the first half, suggesting an upward revision of full-year guidance is likely [36] Question: What is the current competitive landscape in Brazil? - Management noted that despite competitor adjustments, Shopee's growth in Brazil has remained strong, with a focus on cost structure and pricing competitiveness [39] Question: What is the potential for the Shopee VIP membership program? - Management sees good potential for the VIP program, especially in Indonesia, and does not anticipate significant long-term cost impacts [45] Question: How is the company leveraging AI in its operations? - AI is being used to improve ad tech, enhance user recommendations, and streamline customer service, with ongoing exploration of new business opportunities [81][90] Question: How is the gaming business performing outside of Free Fire? - Other games are still in early stages, but there is optimism about their potential as the company continues to refine these products [88]

Financial Data and Key Metrics Changes - Total GAAP revenue increased by 38% year on year to $5.3 billion in 2025, driven primarily by GMV growth in e-commerce and digital financial services [31] - Total adjusted EBITDA rose to $829 million in 2025 from $448 million in 2024 [31] - Net income for 2025 was $440 million, compared to $80 million in 2024 [34] Business Line Data and Key Metrics Changes E-commerce (Shopee) - Shopee's gross orders grew by 29% year on year to $3.3 billion in 2025, with GMV increasing by 28% year on year to $29.8 billion [31] - GAAP Marketplace revenue was $3.3 billion, up 34% year on year, while core marketplace revenue increased by 46% year on year to $2.6 billion [32] - Adjusted EBITDA for e-commerce was $228 million in 2025, compared to an adjusted EBITDA loss of $9 million in 2024 [31] Digital Financial Services (Money) - Digital Financial Services GAAP revenue increased by 70% year on year to $883 million, with adjusted EBITDA up by 55% year on year to $255 million [31] - The loan book grew over 90% year on year to reach $6.9 billion, with a stable 90-day NPL ratio of 1% [18][31] Digital Entertainment (Garena) - Digital entertainment bookings grew by 23% year on year to $661 million, with GAAP revenue up 28% year on year to $559 million [31] - Adjusted EBITDA for digital entertainment was $368 million, up 22% year on year [31] Market Data and Key Metrics Changes - In Brazil, Shopee's average monthly active buyers rose by over 30% year on year in Q2, significantly outpacing the industry average [14] - The logistics cost per order in Brazil was reduced by 15%, and average delivery time improved by more than two days year on year [15] Company Strategy and Development Direction - The company aims to prioritize growth while improving profitability across all three business lines, with a focus on cost efficiency and cash accumulation [5][6] - The strategy includes expanding the Shopee VIP membership program and enhancing logistics capabilities to improve service quality and customer loyalty [12][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum into Q3, with expectations for full-year growth to exceed initial guidance [38] - The competitive landscape in Brazil remains favorable, with the company maintaining a strong cost structure and price competitiveness despite competitor adjustments [39][41] Other Important Information - The company has successfully integrated AI technologies to enhance advertising revenue and improve operational efficiencies across its platforms [7][84] - The Shopee VIP membership program has shown strong traction, with significant growth in GMV from VIP members in Indonesia [12] Q&A Session Summary Question: Will the strong GMV performance lead to a raised full-year guidance? - Management indicated that Q3 growth is expected to be similar to the first half, suggesting an upward revision of full-year guidance [38] Question: What is the competitive landscape in Brazil? - Management noted that despite competitor adjustments, Shopee's growth in Brazil has remained strong, with a focus on cost structure and logistics efficiency [39][41] Question: What is the potential for the Shopee VIP membership program? - Management sees good potential for the VIP program, especially with user retention and increased spending [46] Question: How will instant delivery impact costs and margins? - Management believes instant delivery will enhance offerings without significantly impacting EBITDA margins, as higher-end users are more willing to pay for faster services [47] Question: What is the outlook for digital financial services in Brazil? - Management is optimistic about growth in Brazil, with significant room for expansion in BNPL penetration and personal loans [68] Question: How is AI being utilized in the gaming business? - AI is being leveraged to enhance game development and user engagement, with a focus on improving productivity and creating more immersive experiences [90][94]

Second Quarter 2025 Overall Results - Sea Limited reported strong and healthy growth across all its businesses in the second quarter of 2025[8] - GAAP Revenue reached $53 billion[12], while Gross Profit was $24 billion[12], and Operating Income was $4877 million[12] - The company's Adjusted EBITDA was $8292 million[14] E-commerce (Shopee) - E-commerce GAAP Revenue increased to $38 billion[9] - Shopee's GMV grew 25% YoY in the first half of 2025, with expectations for continued growth in the third quarter[23] - Content-driven orders accounted for over 20% of physical goods order volume in 2Q 2025[22] Digital Financial Services - Loans Principal Outstanding grew over 90% YoY in 2Q 2025, reaching $69 billion[38] - The company added over 4 million first-time borrowers in 2Q 2025, bringing consumer and SME loans active users to over 30 million[38] - Digital Financial Services GAAP Revenue was $8828 million, with Adjusted EBITDA at $2553 million[17] Digital Entertainment (Garena) - Digital Entertainment Bookings were $6613 million[9], with a YoY increase of 23%[51] - Free Fire sustained a massive global user base of over 100 million average DAU[51] - The company is raising its full-year guidance for Garena, expecting bookings to grow more than 30% YoY in 2025[50]

Core Insights - Remitly Global, Inc. reported a significant increase in send volume and revenue for the second quarter of 2025, with send volume up 40% to $18.5 billion and revenue up 34% to $411.9 million year over year [1][5] - The company achieved a net income of $6.5 million and an Adjusted EBITDA of $64.0 million, reflecting a 144% increase compared to the previous year [1][5] - The Board of Directors has authorized a $200 million share repurchase program to return capital to stockholders and mitigate dilution from employee equity compensation [1][3] Financial Performance - Active customers increased to 8.5 million, a 24% rise from 6.9 million [5] - Total revenue for the fiscal year 2025 is projected to be between $1.61 billion and $1.62 billion, indicating a growth rate of 27% to 28% year over year [5] - The company expects to maintain GAAP profitability and Adjusted EBITDA in the range of $225 million to $230 million for 2025, an increase from prior estimates [5] Share Repurchase Program - The share repurchase program allows Remitly to buy back up to $200 million of its common stock, with purchases to be made based on market conditions [3][4] - The program is flexible and may be suspended or modified at the company's discretion [4] Operational Metrics - The company reported a total of $397.2 million in costs and expenses for the second quarter, compared to $322.2 million in the same period last year [16] - Key operational expenses included transaction expenses of $143.8 million and marketing expenses of $85.0 million [16] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of the second quarter were $515.9 million, up from $368.1 million at the end of the previous year [18] - The total assets of the company increased to $1.17 billion from $1.01 billion year over year [19]

Core Viewpoint - Remitly Global, Inc. will report its second quarter financial results on August 6, 2025, and will host a conference call to discuss these results with financial analysts [1]. Group 1: Financial Results Announcement - The second quarter financial results will be reported after market close on August 6, 2025 [1]. - A conference call and live webcast will take place at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day [1][2]. - Participants can register for the call to receive dial-in details and a unique access code [2]. Group 2: Webcast Information - A live webcast and replay of the conference call will be available on the Investor Relations section of Remitly's website [3]. - The company recommends listening via the webcast for those not planning to ask questions [3]. Group 3: Company Overview - Remitly is a provider of digital financial services operating in over 170 countries [4]. - The company focuses on cross-border payments, offering a fast, reliable, and transparent money movement experience [4]. - Remitly is expanding its product suite to enhance its vision and impact lives globally [4].