- Shopee ASEAN and Taiwan saw meaningful improvement in adjusted EBITDA loss due to improved unit economics and is on track to achieve break-even by end 2022.
- Shopee Brazil continues to see strong momentum in terms of monthly active users, downloads and time spent, and unit economics improved as order growth continued.
- Garena remains focused on user engagement of Free Fire, which is showing signs of stabilization as the weekly revenues for Free Fire may have bottomed in April.
- SeaMoney continues to gain traction as SeaBank in Indonesia sees strong momentum in downloads and monthly active users.
- My target price for Sea is $173, implying an upside of 116%.
For further details see:
Sea Limited: The Worst Is Over As Signs Of Stabilization Emerge