Sea FY2021 losses widen to US$1.5 billion, revenue up 127.5 per cent

SINGAPORE-BASED Sea, which owns e-commerce platform Shopee and games developer Garena, widened its net loss excluding share-based compensation attributable to ordinary shareholders of US$1.5 billion for FY2021 ending Dec 31, up 17.9 per cent from US$1.3 billion a year prior. (see Amendment note)

In a filing on Tuesday (Mar 1), the New York Stock Exchange-listed company reported a 127.5 per cent increase in FY2021 revenue from US$4.4 billion to US$9.9 billion. The increase is driven by growth across all business segments.

Loss per share in FY2021 rose 6.5 per cent from US$2.78 to US$2.96.