SE - Sea Limited: An Inflection Point Is Reached
2024-03-21 10:18:16 ET
Summary
- Sea Limited's Shopee did well in 2023, gaining meaningful market share after the investments made in the business.
- With that, management's goal in 2024 is to maintain market share, aiming high-teens GMV growth and positive adjusted EBITDA in 2H24.
- The trends for Free Fire seem stable and improving, with management guiding double-digit growth in users and bookings.
- SeaMoney became profitable in 2023, driven by strong demand for consumer and SME credit, and will focus on scaling its credit business and expanding digital banking and insurance services in 2024.
Sea Limited ( SE ) is reaching an inflection point in its business in 2024.
The company exceeded market expectations in the Q4'23 earnings report, as management is increasingly sounding more optimistic about future growth and profitability prospects.
Not only did Sea Limited achieve an incredible milestone by having its first ever profitable year since its IPO, the management team also guided for the company to continue to be profitable in the next year in 2024.
Sea Limited ended 2023 with $8.5 billion in cash on its balance sheet, which increased about $566 million sequentially, highlight a strong liquidity position despite investing more aggressively in its business to achieve market leadership....
Sea Limited: An Inflection Point Is Reached