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
DateValue
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