[SINGAPORE] Technology company C said on Tuesday (March 3) that its net profit for the fourth quarter ended December 31, 2025 was US$410.9 million, an increase of 72.9% from US$237.6 million in the same period last year.

Revenues were US$6.9 billion, an increase of 38.4% year over year from US$5.0 billion in the fourth quarter of 2024.

The increase in net profit was driven by the strong performance of Sea’s e-commerce platform Shopee and digital financial services division Money.

In the fourth quarter, Shopee’s total order value totaled 4 billion, an increase of 30.5% year over year. Gross merchandise value (GMV) for the quarter increased 28.6% to USD 36.7 billion.

Core marketplace revenue (primarily comprised of transaction-based fees and advertising revenue) in the fourth quarter was $3.6 billion, an increase of 50.2% year-over-year.

Shopee’s fourth-quarter value-added services revenue, which is largely tied to its logistics services revenue, decreased 7.5% year over year to USD 735 million. Mr See attributed the drop to an increase in revenue net of shipping subsidies.

On a full-year basis, Shopee’s revenue was US$16.6 billion, up from US$12.4 billion in the same period last year.

“Our strong performance in 2025 is a testament to the effectiveness of our strategic choice for Shopee,” said Forrest Lee, chairman and chief executive officer of the Singapore-headquartered, New York-listed group.

He pointed out that as of 2025, Shopee will serve approximately 400 million active buyers and 20 million sellers.

Sea’s digital financial services provider, Monee, also posted strong financial results in the fourth quarter. Sales increased 54.3% to $1.1 billion, and operating income was $252.8 million.

Mr. Shi said the consumer and credit business led sales and operating profit growth.

The report noted that consumer and small business loan principal balances jumped 80.4% or US$9.2 billion year-on-year.

Additionally, Mr. Shi pointed out that Monee has attracted more than 20 million unique first-time borrowers.

“I am extremely proud of the progress Mony has made in terms of both growth and profitability,” Lee said during an earnings call on Tuesday, March 3.

Bookings for Garena, the company’s digital entertainment division serving more than 100 million players daily, increased 23.8% to $672.4 million in the fourth quarter.

Revenues increased 35.1% to US$701 million.

Further growth in the future

Mr. Lee said that Xi will “prioritize growth while maintaining financial discipline” for Shopee. The goal is to grow the e-commerce platform’s GMV by approximately 25% year over year in 2026. “We believe this is the right strategy to optimize Shopee’s long-term profitability,” he added.

Sea aims to expand its content ecosystem by expanding on its ongoing efforts in the Shopee VIP membership program, which provides daily coupons, exclusive discounts and free shipping to subscribers.

“[The VIP program]consistently generates double-digit increases in member spending after joining,” he said, noting that total enrollment will exceed 7 million by the end of 2025, more than double the number from the previous quarter.

Li added that Sea wants to continue its efforts to grow Money’s products and services beyond credit and into areas such as digital banking and insurance. “We believe that Monee will make a significant contribution to our interests over the long term.”

For the full year, Sea’s net profit jumped to US$1.6 billion from US$447.8 million in the previous fiscal year.

Full-year sales increased 36.4% year over year to US$22.9 billion from US$16.8 billion.

“As we enter 2026, we believe there are exciting opportunities for our business and the market as a whole. Our strong performance in 2025 strengthens our confidence in our business strategy,” he said.