Sea Limited (SE) Q4 2024 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, December 23, 2025 astatine 11:01 AM CST 39 min read

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Mar. 4, 2025, 7:30 a.m. ET

• Chairman and Group Chief Executive Officer — Forrest Li

• Group Chief Financial Officer — Tony Hou

• Unknown Executive

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Forrest Li: Hello, everyone, and convey you for joining today's call. We delivered a large 2024 with each 3 businesses going backmost to beardown double-digit growth, exceeding our archetypal guidance. It was besides our 2nd consecutive twelvemonth of yearly affirmative nett with each 3 of our businesses signaling affirmative adjusted EBITDA. We are precise arrogant of achieving this milestone arsenic we expect each concern to stay profitable and self-sufficient going forward. This beardown acceptable of results validate our strategies. We made the close decisions astatine the close clip and executed precise good connected them. 2024 besides marked our 15th anniversary.

It is rewarding to look backmost and spot however implicit 15 years we person created and excelled successful 3 abstracted concern verticals, improving the lives of hundreds of millions of people. Garena brings joyousness to implicit 100 cardinal planetary gamers each day. Shopee is the wide e-commerce marketplace person successful each 7 of our Asian markets with a sizable and increasing beingness successful Brazil. Our e-commerce GMV exceeded $100 cardinal for the archetypal clip successful 2024 and SeaMoney with a indebtedness publication size of implicit $5 cardinal and implicit 26 cardinal progressive borrowers is already 1 of the largest user lending businesses successful Southeast Asia.

I'm precise arrogant of the hard enactment from each our teams, which has made this unthinkable outcomes a world and I'm precise grateful to each our investors for your enactment crossed this journey. With that, fto maine instrumentality you done each business' show and strategical outlook. Starting with e-commerce. Shopee is celebrating its 10th twelvemonth with a large acceptable of results. GMV surpassed $100 cardinal with implicit 10 cardinal orders successful 2024. It was our archetypal afloat twelvemonth of being adjusted EBITDA positive. We reinforced our marketplace enactment by returning to precocious maturation with GMV increasing 28% year-on-year and we person go profitable successful some Asia and Brazil.

We improved our monetization importantly successful 2024 done higher committee and advertizing instrumentality rates. This was driven by marketplace becoming much rational and accrued adoption of our advertisement tech offerings among sellers. In the 4th quarter, our advertisement gross accrued by much than 50% year-on-year, and our advertisement instrumentality complaint improved by much than 50 ground points compared to the aforesaid play past year. 2024 has been a beardown objection that our e-commerce strategy works. Our results reflected coagulated execution crossed our 3 operational priorities: Enhancing terms competitiveness; improving work prime to customers; and strengthening our contented ecosystem.