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Sea Limited
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==== Last 5 years ==== {| class="wikitable" ! rowspan="2" |Year ! rowspan="2" |Year end date ! colspan="2" |Income Statement !Balance Sheet |- !Revenues($thousands) !Net losses ($thousands) !Total Assets($million) |- |22 |'''31/12/2018''' |826,968 | -961,241 |N/A |- |23 |'''31/12/2019''' |2,175,378 | -1,462,799 |5,224,169 |- |24 |'''31/12/2020''' |4,375,664 | -1,618,056 |10,455,671 |- |25 |'''31/12/2021''' |9,955,190 | -2,046,759 |18,756,025 |- |26 |'''31/12/2022''' |12,449,705 | -1,651,421 |17,002,796 |} [[File:Sea Limited Operating Expenses.png|thumb|Breakdown of Sea Limited's operating expenses for 2022|none|491x491px]] Revenues and gross profit are steeply increasing, but after applying operating expenses, the company reports an increasing loss every year. This is attributed to disproportionate increase of operating expenses year by year, which outweigh the increase in revenues. Sea Limited's great investment in subsidies to local express delivery companies were one of the major operational expenses that kept Shopee, and by extension the entire company from being profitable until 2023.<ref>Hereβs how Lazada lost its lead to Shopee in Southeast Asia (Part 2 of 2) | KrASIA (kr-asia.com)</ref> However, based on the most recent results, operational expenses were significantly reduced, Garena's revenues declined, and the most promising and profitable branch is Shopee.
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