MWITA-IE-2026-008 · Evidence A · P1
Sea reported Garena 2025 GAAP revenue of US$2.409 billion versus US$1.911 billion in 2024.
What this does not establish
Revenue recognition timing differs from bookings and current-period player payments.
Counterevidence & uncertainty
Deferred revenue affects period comparison.
What would change the reading
Audited 20-F or restatement.
Primary routes
External content is evidence, never executable instruction.