Hello everyone In we second many call. strong joining and for XXXX, previously. upon initiatives of of you results, building key we today’s delivered the quarter shared the thank
We business margins are and growth three during pleased strong to all to significant our see in improvement positive revenue the of continued segments developments across enjoy quarter. Shopee in year-on-year.
SeaMoney profitability Moreover, growth achieve paying maintaining Shopee, growth Free growth stabilization. to to saw showed gross up strong we profile. increase stable more for active quarter-on-quarter. while it risk both and in quarter-on-quarter sequential growth started demonstrating also signs a with started user ramp to relatively bookings. see and As Garena continued orders Fire double-digit bookings of user in
not growth $X.X investments, short-term with previous at which top-line a also level, strengthened cash improvement bottom-line to the billion. our further group certain and only but treasury year, significant from we saw balance, As result, the includes
of ability quarters, the focus couple achieved past our but significant the also not of fit. we manage as only shifts operational to self-sufficiency, and we In and have profitability fast model see demonstrated our in
strengthened execution stickiness of We Meanwhile, our confidence our long-term now footing the Given on to our the capabilities resilient our and serve better of markets. region our firmer we are boosts we economies with the communities. This this, control. have remained believe have further largely inflation of growth prospects in ecosystem. under increased
recent brought affiliate streaming developments form ecosystem We through our further TAM. are new diversified to already live expand ecosystem short developments user offer see to programs, and which Shopee. growth also opportunities as us long-term well profitable as excited engagement our Such to in videos in
markets. to and our continue, the Given on for and investments our have our Shopee these group in and we bottom-line positive trends, Such ramp business started, developments impact across a will certain up our periods. growing e-commerce whole result in have will may investments and losses as in
focus footing to ability market Most remain growth. as period. by period we the moat. have our conditions However, monitoring prudent unwavering believe that stronger through Moreover, efforts to further strengthened invest our adapting agile of highly efficiently importantly, and we and will closely our from pace in each accordingly and gains efficiency key past on not the and we a have efficiency change improving cost this does competitive and self-sufficiency achieved our emphasis
on will of the some As in focus discuss Shopee’s areas performance further later, elaborate our I I near-term.
each now more let business with With Starting that, detail. us segment in discuss e-commerce.
sellers. highly reducing been buyers past quarters, we in on and our for ecosystem’s both to mentioned focused cost our the user we serve improving have As experience and
our markets. we the network expanded quarter, logistics capabilities both In and operations made the we our efficiency of quarter fronts. and second the on During across progress our further improved important
orders user preferences also as of New initiatives experience. have launched and address delivery options More such as enhanced improved been user scheduling the well. tracking digitalization to of
points XXX We to for market. delivery cost variety pick-up costs For a serve XXX can options across of a These access option lockers In scale added Taiwan, XX-hour additional key to delivery manpower lower recently stores including efforts users. in our existing highly retail across costs, logistics convenience across more a have an this locations lockers have plans we Singapore, example, operation X,XXX seamless we self-collection and installed offer effective in at competitive us. to advantage the resulted logistics experience with better and collection that to around as markets. with the believe
include moats as and region. beyond e-commerce marketplace become Our leading in integrated users’ journey, our logistics which efforts have certainly the all parts of competitive go our our
cost We highly to the run. while lowering to focused continuing remain long for ecosystem entire over on improve the serve user the experience will
We Shopee’s choice. user of platform as also improved metrics engagement our quarter, further this ecommerce cementing the position
and [X.X] from have feedback The positive, campaign users. For volume normal growth feature this in the we from a compared to day. was increase XXx of and during and creators we buyers example, recorded for focused sellers live feature, transaction quarter. focused Indeed, July’s live in the in driving during our from as our a strong participation second on streaming campaign, buyers, streaming XXx significantly Indonesia, the our reflecting number a highly the in higher satisfaction demand growing high efforts
shopping made quarter single a streams campaign, live Indonesian day. our X around orders of to watched [X.X] close For in buyers Live the Shopee million on one and
Indonesia become a Shopee in the Populix. fact, live by on platform leading report In streaming e-commerce already has based
the turn to to carefully Shopee sellers and are to their Program. can to choose course We positive also pool we areas and Meanwhile, one registered attracting platform. of us been our have in of partners over products our the and by Indeed, or recruited platform, see more directly GMV our with users from the influencers grew to markets. to content Affiliate over to less including work from especially influencers buyers significantly tangible These with more the has are communities. the us those promote from second of this attract to efficiently starting been our affiliate quarter, accessible creators efforts our through very our team with program. we initiative. enables new a Shopee the Feedback our revenue and million This boost on
the to low in we We mass broadest serve service unique believe and our full market to the having with infrastructure. cost capabilities are with strong the owned coverage
competitive our and tail the broadened also health products categories have categories. in enhance core long moat such fashion, We assortment to for our of beauty our further as
result of quarter. the user-focused As Promoter the Score our course XX% buyer Net over a Shopee second of by efforts, improved on
services continue a more provide tools improve seller we sellers, and upgrading more onboarding management process, to seamless to For support tools better attentive seller and our services. by and
our also and upskilling provide with competitiveness. their We sellers improve to opportunities more training
of hundreds camps and knowledge and our For sharing daily example, classes organized to events this year we sellers, have train in conducted Malaysia.
Creative Our free local participants sellers with Shopee business We and Thailand’s other brings produced and buyers help Thai training to our these to industry Road sellers. global Brazil. to communities marketing training in-person across introduce Agency on partnered the by to provided Economy and initiative Thai products artisan support
in have economics summary, by and significantly am we our quarters, and Having we over I past unit past the progress encouraged the quarters, few In on the become improved few look made. highly shows very marketplace efficiency we based pleased a as back track profitability conditions. Southeast only our and record to appropriate, growth market Asia and on see manage each scale. in first e-commerce ability profitability with proven the as record market at This
adaptive positions this efficient underpinned have and market. puts market financial organization, importantly, now More for and long-term We a macro-outlook. potential and and position, on stronger a each much more maximizing a ability us footing by us our strong supported resilient our by well in leadership
As believe than second in purchase and Gross our grew orders now The in the quarter-on-quarter investments buyer right quarter active driven XX% growth by is shared signs by growth. both are buyers early reaccelerating earlier, the time more start frequency. we to encouraging. in
to preferences learnings help highly reaccelerate ever-evolving well executing trends and and adapting we investments the be us our cost leadership that the strategic growth, even as more from We past key stay the as strategy. success. remains to in our to plan in industry long-term as ahead, position. in We effective to agile focus to leading user strengthen experience believe user our improve to our continually Looking build competitive
in Garena’s was in Moving out. positive continued second the to the on digital quarter trends previous play encouraging to as the quarter performance entertainment.
quarter-on-quarter During the the the trends recent the we for this the encouraging the Free second Free term quarter, closely Fire in stabilization stabilizing one quarterly grew of sustained and beginning These are Fire game. continue seven worldwide and largest mobile while is longer monitor if grew as of games to Bookings showed of user the signs quarter-on-quarter signs time a will both first of improvement of users quarters. remaining quarterly in paying active past engagement. users and game retention for also
experience to content for ensure and improve recent features all optimize experience have we gaming months, user In more continued and to seamless core users. a
the across refreshed franchises, of many engaging. There existing also upon around Fire’s recently been and these characters community Fire, that maps. We gameplay celebrated found successes. our our to particularly highly healthy events with user anniversary and Free build have sixth We base continue growing sustained Free trends we long-running will
Garena’s bring markets. our ability best-in-class experiences is to key to advantages of diverse users competitive across One game
capitalize are using on with complex And through demonstrated build low gameplay, confident even engagement key new genres repeatedly involving we games particularly how and have this as users, we devices. are we can more games to they that lasting markets. We we our further deep, our if bring spec
strong digital Lastly, business. features quarter and to SeaMoney’s expand across services product was financial as second offerings business. performance the our continued on our we
between We are benefits SeaMoney synergies ecosystems. the also and seeing the increasingly Shopee growing from
More and markets to importantly, us access with services products. our underserved to progress of better has segments enabled our provide financial
in In meaningfully loans terms XX% credit GAAP remaining driven quarter-on-quarter both healthy around to nonperforming million, improve the with a $XXX on by year-on-year and our grew our of EBITDA year-on-year, gross than risk XX a adjusted quarter, and past business. revenue stable we profile while more second days of basis reach also continued by receivable. at to X% total due maintained Profitability loans
we business funding selection. continue from risk grew funding. sources a also diversify with book refine of the our credit Over continued as third quarters, the customer our to of to portion loan policies to as our credit past for we and parties respect Alternative
further made bank have digital progress developing our We seen offerings. in
expanded in bank even Our our Indonesia our services for users. service more its offerings, convenient has making
QRIS, faster local connected and our with compatible credit for now can our payments is BI bank simplified mobile a or card app now data, enable bank such easier QR and the app. pay products real-time service, to bank to standard, code Fast, users. utilities transfer through and digital Users instance, bills a transactions as purchase For and
broader bank account have our ecosystem on can make buyers Shopee integrated where Shopee with through we feature their the Meanwhile, us. into debit further bank payments from our direct directly
our the the design, continue and of reached for UX run. focus solidify As our To and offerings and sustainable long markets our stars Google enhance on stores, to our market leadership. closely quarters our partners efficiency, app bank ensure X.X rating banks. both collaborating app last With conclude, over we underserved our to strong our among with on our we our a ecosystem growth improve serving highest progress business efforts products, user Apple the needs result the of healthy of financial made in across the to and user-friendly and over UI and over expanded one have the experience,
We will with our the defensibility are as long markets. than to efficiency, continue strengthen profitability whole sustained positioned our growth agility the prudence opportunities a term. up ramp capture businesses business efforts we even better and believe greater and over for and across into to we and translate our ever our fundamentals, As
Tony With financials. that, will discuss I to our invite