Sea Limited (SE) Announced Q2 2026 Earnings on August 11, 2026, Reporting "Sea generated $7.8 billion in revenue, up 48% year-on-year"

For the second quarter of 2026, Sea Limited reported total GAAP revenue of 7.8 billion dollars, representing an increase of 48 percent year-on-year.Total adjusted EBITDA for the quarter was over 917 million dollars, which was up by 11 percent year-on-year.The company's net income rose by 11 percent year-on-year to 458 million dollars for the second quarter.Looking at individual segments, Shopee achieved second-quarter GAAP revenue of 5.6 billion dollars, including GAAP marketplace revenue of 4.9 billion dollars, up 49 percent year-on-year, and GAAP product revenue of 0.7 billion dollars.Within Shopee's marketplace revenue, core marketplace revenue rose 66 percent year-on-year to 4.3 billion dollars.Shopee's adjusted EBITDA was 255 million dollars, representing a 12 percent increase year-on-year. In the Monee segment, non-GAAP revenue increased by 59 percent year-on-year to 1.4 billion dollars, while adjusted EBITDA grew 13 percent year-on-year to 288 million dollars.Garena bookings grew 15 percent year-on-year to 764 million dollars, generating GAAP revenue of 747 million dollars and an adjusted EBITDA of 430 million dollars.Management detailed several operational developments during the quarter, emphasizing their focus on user acquisition, logistics, and credit capabilities. In e-commerce, Shopee's gross orders grew 27 percent year-on-year to 4.2 billion, while GMV increased 28 percent year-on-year to 38.3 billion dollars.Average monthly new active buyers grew more than 35 percent year-on-year.Shopee expanded its instant and same-day delivery options, with order volumes using instant delivery growing around 80 percent year-on-year in initial markets.Additionally, the ShopeeVIP program exceeded 15 million members by the end of June 2026, with VIP members contributing 24 percent of GMV in Asia during the quarter. In the Monee credit segment, consumer and SME loans principal outstanding reached 11.1 billion dollars, up 62 percent year-on-year, which consists of 10 billion dollars on book and 1.1 billion dollars off book loans.Underwriting enhancements utilizing transformer-based risk models helped raise loan approval rates by around 10 percent.Active credit users grew around 34 percent year-on-year to over 40 million at the end of the quarter.Regarding future outlook and product announcements, Sea Limited expressed optimism that Shopee will achieve the milestone of 1 billion dollars in adjusted EBITDA for the full year of 2026.The company also reiterated its full-year e-commerce GMV growth outlook of around 25 percent, while factoring in potential foreign exchange headwinds.Achieving the full-year EBITDA target implies that absolute adjusted EBITDA in the second half of the year will be higher than the first half.Garena's Free Fire maintained over 100 million average daily active users, and its World Cup campaign song Booyah Ole generated over 350 million social media views.Garena also announced two new upcoming mobile games based on globally recognized intellectual property, Palworld Online and Monster Hunter Outlanders, with a target launch time for Monster Hunter Outlanders this year.🎧 I can generate a comedic podcast episode based on these numbers where our hosts debate Sea Limited's strategy and financial milestones.