Sea Limited reported second-quarter 2026 revenue of US$7.8 billion, up 48.1% from a year earlier. Net income rose 10.6% to US$458.1 million, according to the company’s results released on 11 August.
What happened
Shopee recorded US$38.3 billion in gross merchandise value, up 28.4%, and US$5.6 billion in revenue. Sales and marketing expense across the group rose 64.5% to US$1.66 billion, showing the cost of defending growth in a competitive e-commerce market. Sea Limited Q2 2026 results
Monee revenue increased 58.9% to US$1.4 billion. Loans outstanding reached US$11.1 billion, while the 90-day non-performing loan ratio stayed at 1.0% from the previous quarter. Garena bookings rose 15.5% to US$763.5 million.
Why it matters
For Southeast Asian operators and investors, the quarter shows how Sea is using cash generation from several platforms to fund customer acquisition, logistics and financial services. The trade-off is clear: faster expansion is arriving with materially higher marketing spend.
What to watch next
Sea’s chief executive said the company remains optimistic that Shopee can reach US$1 billion in full-year adjusted EBITDA. That is guidance, not an achieved result. The next test is whether transaction growth and credit expansion continue without a deterioration in margins or loan quality.
Source note
Reported facts are attributed to Sea Limited Q2 2026 results. Issuer claims, plans and future evidence are identified separately.