Sea Limited reported third-quarter 2026 revenue of $8.6 billion, up 43.4%, and Garena bookings up 5.9% to $890.0 million

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Sea Limited, which says it operates three core businesses across e-commerce (Shopee), digital financial services (Monee) and digital entertainment (Garena), reported results for the third quarter ended Sep 30, 2026, in a Form 6-K, the report a foreign company listed in the US files, filed on Nov 10, 2026. Its GAAP revenue was $8.6 billion, up 43.4% from a year earlier, gross profit was $3.9 billion, up 51.4%, and net income was $502.5 million, up 34.0%. Its adjusted EBITDA, a non-GAAP measure the company reports, was $931.3 million, up 28.9%.1^,2^,3^,4^,5^,6^,7^,8^,9

Garena, which the company describes as a leading global online games developer and publisher, had bookings of $890.0 million, up 5.9%. The company says it uses bookings as an approximation of cash spent by its users in the period that is attributable to Garena. Garena's GAAP revenue was $840.1 million, up 28.6%, which the company said was primarily due to a larger active user base and deeper paying user penetration. Its adjusted EBITDA was $458.2 million, up 45.9%. Quarterly active users were 671.7 million, against 670.8 million in the third quarter of 2025, and paying users were 68.6 million, up 4.1%, a paying user ratio of 10.2% against 9.8%. Forrest Li, Sea's chairman and chief executive, said in the release that Free Fire anchored the performance with strong bookings growth and that Arena of Valor continued its strong momentum from its 10th year anniversary celebrations.10^,11^,12^,13^,14^,15^,9^,16^,17^,18^,19

Shopee's GAAP revenue was $6.1 billion, up 41.3%, and Monee's was $1.6 billion, up 63.9%. Monee's consumer and SME loans principal outstanding was $12.6 billion, up 60.0%, and the group's provision for credit losses rose 82.3% to $681.5 million.20^,21^,22^,23

Under its $1.0 billion share repurchase program, the company said it had repurchased 11.1 million shares for $997.2 million as of Nov 10, 2026, and that on Nov 9, 2026 its board approved an additional $1.0 billion authorization.24^,25^,4