Singapore's Sea Limited Q4 revenue beats estimates, helped by growth in Shopee, Monee

Sea

03/03/2026 11:39

Overview

Singapore tech firm's Q4 revenue rose 38.4%, beating analyst expectations

Net income for Q4 increased 72.9% year-on-year

Adjusted EBITDA for Q4 grew 33.2% year-on-year

Outlook

Sea aims to grow Shopee's annual GMV by 25% in 2026

Company expects Shopee's adjusted EBITDA no lower than that of 2025 in absolute dollar terms

Sea plans to focus on operational excellence for strong growth in 2026

Result Drivers

SHOPEE GROWTH - Shopee's Q4 revenue increased by 35.8% due to higher GMV, driven by increased order volumes

MONEE EXPANSION - Monee's Q4 revenue rose 54.3%, fueled by growth in its credit business

GARENA USER GROWTH - Garena's Q4 revenue grew 35.1% due to a larger active user base and increased paying user penetration

Company press release: ID:nBw6tkjC4a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$6.9 bln
$6.45 bln (9 Analysts)
Q4 EPS
$0.63
Q4 Net Income
$410.9 mln
Q4 Adjusted EBITDA
$787.1 mln
Q4 Gross Profit
$3 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 28 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Sea Ltd is $184.00, about 74.9% above its March 2 closing price of $105.21

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 35 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)