Singapore-based tech conglomerate Sea reported earnings per share of $0.63 on revenue of $6.85 billion, while Wall Street analysts expected an EPS of $0.81 on revenue of $6.43 billion.
- Despite the mixed Q4 performance, Sea CEO Forrest Li stated that 2025 was a great year for the company and that all its businesses scaled well, exceeding Sea’s growth expectations.
- The company Shopee served around 400 million active buyers, Monee gained over 20 million unique first-time borrowers, and Garena connected on average with more than 100 million players daily throughout 2025.
- Shopee’s gross merchandise value stood at $36.7 billion, growing 28.6% YoY, while core marketplace revenue surged by over 50% to $3.6 billion.
Sea (SE) American Depository Receipts tumbled nearly 25% in Tuesday’s opening trade after the company reported mixed fourth-quarter (Q4) results, and the intensifying war in the Middle East pushed the broader markets down.
The Singapore-based tech conglomerate reported earnings per share (EPS) of $0.63 on revenue of $6.85 billion, while Wall Street analysts expected an EPS of $0.81 on revenue of $6.43 billion, according to Fiscal.ai data.
Sea is the holding company for the popular online games developer Garena, the digital payments and financial services provider Monee, and the e-commerce platform Shopee.
All Businesses Scaled Well, Says CEO
Despite the mixed Q4 performance, Sea CEO Forrest Li stated that 2025 was a great year for the company and that all its businesses scaled well, exceeding Sea’s growth expectations.
“In 2025, Shopee served around 400 million active buyers and 20 million sellers. Monee gained over 20 million unique first-time borrowers. And Garena connected on average with more than 100 million players daily throughout the year,” Li said.
Sea stated in its announcement that Shopee registered a 30.5% year-on-year increase in Q4 gross orders. Gross merchandise value (GMV) stood at $36.7 billion, growing 28.6% YoY, while core marketplace revenue surged by over 50% to $3.6 billion.
Sea’s financial services firm Monee registered an 80.4% YoY increase in its consumer as well as small and medium enterprises (SME) loans, which stood at $9.2 billion as of Dec. 31, 2025.
Garena, Sea’s online games firm, registered a 23.8% YoY increase in bookings to $672.4 million in Q4, while quarterly active users edged up by 2.5% YoY to 633.3 million. Average bookings per user rose to $1.08, up from $0.88 in the same quarter a year ago.
The company also provided an update on its $1 billion share repurchase program, stating that it had bought back shares worth $14.5 million in Q4.
How Did Stocktwits Users React?
Retail sentiment on Stocktwits around Sea trended in the ‘extremely bullish’ territory, with message volumes at ‘extremely high’ levels.
One user flagged potential margin compression at Shopee, noting that the company still needs to demonstrate whether its long-term target of 2% to 3% GMV margins is achievable.
SE ADR is down 39% year-to-date and 38% over the past 12 months.
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