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SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2025

SEGMENT REPORTING [Abstract]

Information about Segments

Information about segments for the years ended December 31, 2023, 2024 and 2025 presented were as follows:

		Year ended December 31, 2023
		E-commerce (Shopee) $				Digital Financial Services (Monee) $				Digital Entertainment (Garena) $				Other Services(1) $				Total $
Revenue			9,000,848				1,759,422				2,172,009				131,281				13,063,560
Less(2)
Cost of revenue			(6,194,900	)			(279,745	)			(672,481	)			–
Sales and marketing expenses			(2,510,693	)			(116,445	)			(104,721	)			–
Provision for credit losses			–				(630,300	)			–				–
Other operating expenses(3)			(845,725	)			(242,723	)			(216,936	)			(188,009	)
Operating segment (loss) income			(550,470	)			490,209				1,177,871				(56,728	)			1,060,882
Unallocated expenses(4)																			(836,104	)
Operating income																			224,778
Non-operating income, net																			207,616
Income tax expense																			(262,680	)
Share of results of equity investees																			(7,032	)
Net income																			162,682

		Year ended December 31, 2024
		E-commerce (Shopee) $				Digital Financial Services (Monee) $				Digital Entertainment (Garena) $				Other Services(1) $				Total $
Revenue			12,415,231				2,367,739				1,910,589				126,307				16,819,866
Less(2)
Cost of revenue			(8,611,530	)			(348,424	)			(610,586	)			–
Sales and marketing expenses			(2,966,084	)			(298,386	)			(117,556	)			–
Provision for credit losses			–				(771,407	)			–				–
Other operating expenses(3)			(977,048	)			(292,020	)			(203,626	)			(170,210	)
Operating segment (loss) income			(139,431	)			657,502				978,821				(43,903	)			1,452,989
Unallocated expenses(4)																			(790,837	)
Operating income																			662,152
Non-operating income, net																			116,631
Income tax expense																			(321,168	)
Share of results of equity investees																			(9,788	)
Net income																			447,827

		Year ended December 31, 2025
		E-commerce (Shopee) $				Digital Financial Services (Monee) $				Digital Entertainment (Garena) $				Other Services(1) $				Total $
Revenue			16,564,605				3,791,641				2,408,765				173,458				22,938,469
Less(2)
Cost of revenue			(11,380,266	)			(475,024	)			(791,378	)			–
Sales and marketing expenses			(3,546,753	)			(614,228	)			(174,104	)			–
Provision for credit losses			–				(1,365,556	)			–				–
Other operating expenses(3)			(1,056,534	)			(364,151	)			(259,212	)			(263,995	)
Operating segment income (loss)			581,052				972,682				1,184,071				(90,537	)			2,647,268
Unallocated expenses(4)																			(661,962	)
Operating income																			1,985,306
Non-operating income, net																			295,553
Income tax expense																			(651,081	)
Share of results of equity investees																			(18,884	)
Net income																			1,610,894

⁽¹⁾ A combination of multiple business activities that do not meet the quantitative thresholds to qualify as reportable segments are grouped together as “Other Services”.

⁽²⁾ The significant expenses categories and amounts align with the segment-level information that is regularly provided to the CODM.

⁽³⁾ Other operating expenses for E-commerce and Digital Entertainment include general and administrative expenses, research and development expenses, and provision for credit losses net of other operating income. Other operating expenses for Digital Financial Services include general and administrative expenses, and research and development expenses net of other operating income.

⁽⁴⁾ Unallocated expenses are mainly related to share-based compensation, impairment of goodwill of prior acquisitions that are not under the Company’s reportable segments, and general and corporate administrative costs such as professional fees and other miscellaneous items that are not allocated to segments. These expenses are excluded from segment results as they are not reviewed by the CODM as part of segment performance.

Revenue from External Customers Based on Geographical Locations

Revenue from external customers is classified based on the geographical locations where the services were provided.

		Year ended December 31,
		2023 $				2024 $				2025 $
Revenue
Singapore			506,482				659,107				792,705
Southeast Asia excluding Singapore			8,673,045				11,114,896				14,379,011
Latin America			2,193,758				3,276,281				5,532,738
Rest of Asia			1,496,433				1,591,487				2,005,721
Rest of the world			193,842				178,095				228,294
Consolidated revenue			13,063,560				16,819,866				22,938,469

Long-Lived Assets

Long-lived assets consist of property and equipment, operating lease ROU assets and intangible assets.

		As of December 31,
		2024 $				2025 $
Long-lived assets
Singapore			684,454				583,607
Southeast Asia excluding Singapore			969,350				1,386,679
Latin America			152,472				421,607
Rest of Asia			225,954				230,060
Rest of the world			147,564				122,292
			2,179,794				2,744,245

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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