Sea (SE) Cost of Revenue (2016 - 2026)

For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Sea was $2.29 billion, up 40.4% year-over-year; for the year ended Dec 31, 2025, it came in at $12.69 billion, up 32.0% from the prior year.

• Annual Cost of Revenue shows a five-year compound annual growth rate of 33.2% (years ended Dec 2020 to Dec 2025).
• In prior years, Sea's Cost of Revenue was $9.61 billion in the year ended Dec 31, 2024 (+33.0%), $7.23 billion in the year ended Dec 31, 2023 (-0.5%), $7.26 billion in the year ended Dec 31, 2022 (+19.9%) and $6.06 billion in the year ended Dec 31, 2021 (+100.2%).
• The figure for the quarter ended Jun 30, 2026 stands as the highest quarterly Cost of Revenue since the quarter ended Sep 30, 2023.
• On a year-over-year basis, Cost of Revenue has increased in each of the last seven quarters, with growth averaging 20.2% over the last eight quarters.
• The strongest year-over-year quarter for Cost of Revenue in the past five years was the quarter ended Sep 30, 2021, with growth of 76.0%; the weakest was the quarter ended Sep 30, 2024, with a decline of 99.9%.
• According to Business Quant data, Cost of Revenue for the three prior quarters was $587.04 million (quarter ended Mar 31, 2026), $585.01 million (quarter ended Dec 31, 2025) and $491.89 million (quarter ended Sep 30, 2025).