Sea Limited (NYSE:SE) ("Sea" or the "Company") today announced its financial results for the fourth quarter and full year ended December 31, 2024.

"We delivered a great 2024 with all three businesses going back to strong, double-digit growth, exceeding our original guidance. It was also our second consecutive year of annual positive profit, with all three of our businesses recording positive adjusted EBITDA," said Forrest Li, Sea's Chairman and Chief Executive Officer.

On e-commerce, he said, "GMV grew 28% year-on-year to surpass US$100 billion, and we achieved adjusted EBITDA profitability in both Asia and Brazil. We remain confident about our ability to continue delivering profitable growth in 2025 and expect Shopee's full year 2025 GMV growth to be around 20%, with improving profitability."

Regarding digital financial services, Mr. Li shared, "We delivered exceptional loan book growth of more than 60% year-on-year in the fourth quarter, surpassing US$5 billion as of the end of 2024, making us one of the largest consumer lending businesses in Southeast Asia. While we have scaled fast, risk management remains to be our top operational priority. In 2025, we expect loan book size to grow meaningfully faster than Shopee's GMV annual growth rate, as we improve credit penetration both on- and off-Shopee."

On digital entertainment, Mr. Li said, "2024 was a great year for Garena, marking Free Fire's remarkable comeback with annual bookings growing at 34% year-on-year. Looking ahead into 2025, we will continue scaling our user base and broadening our content offerings. We now expect Garena to grow double digit year-on-year, for both user base and bookings in 2025."