Added to YB: 2026-09-11
Pitch date: 2026-09-09
SE [neutral]
Sea Limited
Author Info
Banyan Lane Capital aims to present actionable investment research on asymmetric opportunities that, in many cases, are not front and center for investors. Sign up for the newsletter.
Company Info
Sea Limited, through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally.
Market Cap
$66.6B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
19.35
P/E
41.98
EV/Sales
2.23
Sector
Broadline Retail
Category
growth
SE: Shopee Tactics Come to Monee
SE (earnings): Sea’s Monee grew Q2’26 revenue 59% year over year and adjusted EBITDA 13%, but operating margin fell to 20% from 29% in Q1’25. Credit-loss provisions rose 72% to $555M and cost four margin points, while sales and marketing rose 140% to nearly $300M and cost nine points as Monee expanded off-Shopee acceptance. The key test is whether Shopify and Stripe integrations let this spending peak in H2’26.
Read full article (2 min)