Sea Limited
NAS:SE strong Q1 2026 earnings report, which featured a significant revenue beat and record-breaking performance across its core business segments.
Despite an EPS miss ($0.67 vs. $0.77 expected), investors prioritized the massive top-line growth and evidence that Sea’s strategic investments in logistics and AI are improving unit economics. The company demonstrated its ability to scale rapidly while maintaining financial discipline in a competitive Southeast Asian and Latin American landscape.
Significant Revenue Beat: Sea reported GAAP revenue of $7.1 billion, a 46.6% year-over-year increase, comfortably exceeding the analyst consensus of $6.45 billion.
- EBITDA Milestone: The company achieved a quarterly adjusted EBITDA of $1.0 billion for the first time, representing a 9.3% increase.
- Shopee Dominance: The e-commerce segment reached record highs with Gross Merchandise Value (GMV) of $37.3 billion (+30.2% YoY) and revenue of $4.5 billion (+44.4% YoY).
Garena Recovery: The gaming division, Garena, delivered its strongest quarter since 2021, with bookings rising 20.1% to $931.4 million, fueled by the continued popularity of Free Fire*.
- Fintech Growth: Its digital financial services arm, Monee, saw revenue surge 57.8% to $1.2 billion, with its loan book growing 71% while maintaining stable asset quality.
Current Metrics (as of May 12-13, 2026)
- Market Cap: ~$65.4 billion
- P/E Ratio: ~38.1x (Trailing)
