Sea, the parent company of Shopee, released its Q1 2026 financial report.

In the first quarter of 2026, Sea's GAAP total revenue was 7.1 billion US dollars, a year-on-year increase of 46.6%. The company's gross profit was 3.1 billion US dollars, a year-on-year increase of 40.7%, and the net profit was 438.2 million US dollars, a year-on-year increase of 6.7%. Adjusted EBITDA increased by 9.3% year-on-year to 1 billion US dollars.

Specifically, the e-commerce business Shopee achieved new highs in GMV and revenue, with GAAP revenue of 5.1 billion US dollars, a year-on-year increase of 45.1%; the total transaction volume (GMV) reached a historic high of 37.3 billion US dollars, a year-on-year increase of 30.2%; The total number of orders reached 4 billion, a year-on-year increase of 29.3%; adjusted EBITDA was 223.2 million US dollars (264.4 million US dollars in the same period of 2025).

Digital financial services Monee's GAAP revenue in the first quarter was 1.2 billion US dollars, a year-on-year increase of 57.8%; adjusted EBITDA was 275.2 million US dollars, a year-on-year increase of 14.0%. Revenue and operating profit mainly come from consumer and SME credit business.

Digital entertainment business Garena's bookings in the first quarter were 931.4 million US dollars, a year-on-year increase of 20.1%; GAAP revenue was 696.6 million US dollars, a year-on-year increase of 40.6%; adjusted EBITDA was 573.6 million US dollars, a year-on-year increase of 25.2%; Quarterly active users were 666.5 million (661.8 million in the same period of 2025); Quarterly paying users were 72.6 million, a year-on-year increase of 12.4%; Paying user ratio is 10.9% (9.8% in the same period of 2025); Average booking per user is 1.40 US dollars (1.17 US dollars in the same period of 2025).

Regarding Shopee, Forrest Li, Chairman and CEO of Sea, said: "Shopee has once again reached a new quarterly high, maintaining financial discipline while GMV, total orders and revenue have reached record highs. Looking ahead, we are confident in the strength of Shopee's ecosystem and our ability to execute our strategy. We are on track to achieve our 2026 guidance: Shopee's annual GMV is expected to increase by approximately 25% year-on-year, and the absolute value of annual adjusted EBITDA will not be lower than that of 2025. "

On the increasingly important role of AI, he said: "We have adopted a pragmatic and results-oriented approach to integrating AI into our operations, bringing better results to users and improving the overall efficiency of the platform. In the entire ecosystem, we believe that the AI era has created significant opportunities for companies like us with mature scale, rich cross-vertical domain data and deep local expertise."

Seller's Home Review

Shopee's GMV in the first quarter increased by 30.2% year-on-year to 37.3 billion US dollars, far exceeding the industry average growth rate. It is recommended that sellers focus on emerging markets in Latin America and Southeast Asia, increase inventory and advertising investment during the platform traffic dividend period, and seize the first wave of growth window.

Source: E-commerce Party Original link: https://www.pai.com.cn/p/01krff8fd3b8d9za7bh9cerh51