Sea Ltd (SE) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — SE

Balance Sheet

(in billions USD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Cash & Equivalents	4.16	2.41	2.81	6.03	9.25	6.17	3.12
Short-term Investments	0.04	0.01	0.02	0.00	0.01	0.08	0.10
Accounts Receivable	0.38	0.31	0.26	0.27	0.39	0.36	0.19
Inventory	0.22	0.14	0.13	0.11	0.12	0.06	0.03
Total Current Assets	23.25	16.86	11.77	12.69	15.14	8.94	4.41
Property, Plant & Equipment	1.31	1.10	1.21	1.39	1.03	0.39	0.32
Goodwill	0.10	0.11	0.11	0.23	0.54	0.22	0.03
Intangible Assets	0.01	0.03	0.05	0.05	0.04	0.04	0.02
Total Non-current Assets	6.12	5.77	7.11	4.31	3.62	1.52	0.81
Total Assets	29.37	22.63	18.88	17.00	18.76	10.46	5.22
Accounts Payable	0.47	0.35	0.34	0.26	0.21	0.12	0.07
Total Current Liabilities	14.68	11.30	8.17	6.94	7.18	4.64	2.36
Total Non-current Liabilities	2.04	2.85	4.02	4.26	4.16	2.40	1.69
Total Liabilities	16.72	14.15	12.19	11.19	11.33	7.04	4.05
Retained Earnings	(6.58)	(8.16)	(8.60)	(8.75)	(7.20)	(5.15)	(3.53)
Total Stockholder Equity	12.53	8.37	6.59	5.72	7.40	3.38	1.16

Income Statement

(in billions USD) (except per-share rows)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Total Revenue	19.63	16.82	13.06	12.45	9.96	4.38	2.18
Cost of Revenue	12.69	9.61	7.23	7.26	6.06	3.03	1.57
Gross Profit	10.24	7.21	5.83	5.19	3.90	1.35	0.60
Research & Development	1.16	1.21	1.16	1.38	0.83	0.35	0.16
Selling, General & Admin	1.36	1.27	1.13	1.44	1.11	0.66	0.39
Total Operating Expenses	8.26	6.54	5.61	6.67	5.48	2.65	1.50
Operating Income	1.99	0.66	0.22	(1.49)	(1.58)	(1.30)	(0.89)
Interest Expense	0.03	0.04	0.04	0.05	0.14	0.15	0.05
Pretax Income	2.28	0.78	0.43	(1.50)	(1.72)	(1.48)	(1.37)
Tax Provision	0.65	0.32	0.26	0.17	0.33	0.14	0.09
Net Income	1.58	0.44	0.15	(1.65)	(2.05)	(1.62)	(1.46)
Basic EPS	2.65	0.77	0.27	(2.96)	(3.84)	--	--
Diluted EPS	2.52	0.74	0.25	(2.96)	(3.84)	--	--

Cash Flow Statement

(in billions USD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Operating Cash Flow	5.02	3.28	2.08	(1.06)	0.21	0.56	0.07
Capital Expenditures	0.51	0.32	0.24	0.92	0.77	0.34	0.24
Free Cash Flow*	4.51	2.96	1.84	(1.98)	(0.56)	0.22	(0.17)
Investing Cash Flow	(4.41)	(5.04)	(5.80)	(2.43)	(3.77)	(0.89)	(0.36)
Financing Cash Flow	1.62	1.68	0.37	0.40	7.40	3.73	2.58

* Derived from reported values