Sea Limited (NYSE:SE) capped a transformative fiscal year with a massive jump in bottom-line growth, signaling that the Southeast Asian internet giant has successfully pivoted from cash-burning expansion to a sustainable, high-margin model.
The Singapore-based firm reported fourth-quarter GAAP revenue of $6.9 billion on Tuesday, a 38.4% increase over the same period last year.
The results were bolstered by a significant expansion in profitability, with quarterly net income surging 72.9% to $410.9 million.
Adjusted EBITDA for the quarter followed a similar trajectory, rising 33.2% to reach $787.1 million.
For the full year of 2025, Sea’s performance highlighted a dramatic recovery in its core business units, which include e-commerce arm Shopee, gaming division Garena, and digital financial services unit SeaMoney.
Annual revenue climbed 36.4% to $22.9 billion, while net income for the year reached $1.6 billion—a nearly fourfold increase from the $447.8 million reported in 2024.
The company’s ability to scale while maintaining fiscal discipline was evident in its gross profit, which grew 42.2% year-on-year to $10.2 billion.
Full-year adjusted EBITDA saw an even more aggressive climb, rising 75.2% to $3.4 billion.