Sea (SE) Operating Expenses (2016 - 2026)
Sea (SE) recorded quarterly Operating Expenses of -$2.6 billion in Q1 2026, down 4.91% on a QoQ basis from -$2.4 billion in Q4 2025, and down 43.42% year-over-year from -$4.5 billion in Q1 2025.
Sea (SE) Operating Expenses (2016 - 2026) Analysis & Trends
Sea has disclosed Operating Expenses across 11 years of filings, most recently posting -$2.6 billion for Q1 2026.
- Quarterly Operating Expenses fell 43.42% year-over-year to -$2.6 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$9.0 billion (down 32.03% YoY) and the FY2025 annual result came in at $8.3 billion, up 26.22% from the prior year.
- Operating Expenses slipped to -$2.6 billion in Q1 2026, from -$2.4 billion in the prior quarter.
- Over five years, Operating Expenses peaked at -$1.3 billion in Q1 2023 and troughed at -$1926.9 billion in Q2 2022.
- A 5-year average of -$183.6 billion and a median of -$1.7 billion in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses plunged 67.84% — and 2024, when it jumped 99.87%.
- Tracing SE's Operating Expenses over 5 years: stood at -$1.4 billion in 2022, then decreased by 16.75% to -$1.6 billion in 2023, then decreased by 20.14% to -$1.9 billion in 2024, then fell by 28.08% to -$2.4 billion in 2025, then declined by 4.91% to -$2.6 billion in 2026.
- Business Quant data shows SE's Operating Expenses at -$2.6 billion in Q1 2026, -$2.4 billion in Q4 2025, and -$2.1 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,551.03 Bn | 2,407.94 Bn | 171.21 Bn | 157.67 Bn |
| 2 | Mercadolibre | 82.72 Bn | 77.07 Bn | 3.86 Bn | 3.25 Bn |
| 3 | DoorDash | 72.09 Bn | 67.22 Bn | 2.04 Bn | 3.89 Bn |
| 4 | PDD Holdings | 62.92 Bn | 38.25 Bn | 12.81 Bn | -5.87 Bn |
| 5 | Ebay | 48.30 Bn | 44.44 Bn | 2.29 Bn | 1.68 Bn |
| 6 | Coupang | 34.44 Bn | 34.35 Bn | 2.30 Bn | 8.75 Bn |
| 7 | Zkh | 14.36 Bn | 14.36 Bn | 285.30 Mn | -23.28 Mn |
| 8 | Wayfair | 10.72 Bn | 9.65 Bn | 880.00 Mn | 891.00 Mn |
| 9 | Maplebear | 10.27 Bn | 9.58 Bn | 738.00 Mn | 556.00 Mn |
| 10 | Sea | 64,018.50 | -8.52 Bn | 3.15 Bn | -2.55 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -2.55 Bn |
| Dec 31, 2025 | -2.43 Bn |
| Sep 30, 2025 | -2.12 Bn |
| Jun 30, 2025 | -1.92 Bn |
| Mar 31, 2025 | -1.78 Bn |
| Dec 31, 2024 | -1.90 Bn |
| Sep 30, 2024 | -1.66 Bn |
| Jun 30, 2024 | -1.50 Bn |
| Mar 31, 2024 | -1.48 Bn |
| Dec 31, 2023 | -1.58 Bn |
| Sep 30, 2023 | -1.57 Bn |
| Jun 30, 2023 | -1,167.07 Bn |
| Mar 31, 2023 | -1.29 Bn |
| Dec 31, 2022 | -1.35 Bn |
| Sep 30, 2022 | -1.72 Bn |
| Jun 30, 2022 | -1,926.91 Bn |
| Mar 31, 2022 | -1.67 Bn |
| Dec 31, 2021 | -1.75 Bn |
| Sep 30, 2021 | -1.47 Bn |
| Jun 30, 2021 | -1,264.91 Bn |