Sea Limited Reports Fourth Quarter and Full Year 2020 Results

SINGAPORE–(BUSINESS WIRE)–Sea Limited (NYSE: SE) (“Sea” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2020.

Fourth Quarter 2020 Highlights

• Group
  • Total GAAP revenue was US$1.6 billion, up 101.6% year-on-year.
  • Total gross profit was US$533.7 million, up 101.5% year-on-year.
  • Total adjusted EBITDA¹ was US$48.7 million compared to US$(104.9) million for the fourth quarter of 2019.

• Digital Entertainment
  • Bookings² were US$1.0 billion, up 111.1% year-on-year.
  • Adjusted EBITDA¹ was US$663.5 million, up 149.1% year-on-year.
  • Adjusted EBITDA represented 65.5% of bookings for the fourth quarter of 2020, compared to 55.5% for the fourth quarter of 2019.
  • GAAP revenue was US$693.4 million, up 71.6% year-on-year.
  • Quarterly active users (“QAUs”) reached 610.6 million, an increase of 72.1%…