Sea Limited (NYSE:SE) Q1 2020 Earnings Conference Call - Final Transcript
May 18, 2020 • 07:30 am ET
Good morning and good evening. Welcome to the Sea Limited First Quarter 2020 Results Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.
I would now like to turn the conference over to Ms. Yanjun Wang. Please go ahead.
Thank you, operator. Good evening and good morning, everyone and welcome to Sea's 2020 first quarter earnings conference call. I am Yanjun Wang, Sea's Group Chief Corporate Officer.
Before we continue, I would like to remind you that we may make forward-looking statements, which are inherently subject to risks and uncertainties and may not be realized in the future for various reasons, as stated in our press release. Also this call includes discussion of certain non-GAAP financial measures such as adjusted revenue, adjusted EBITDA and net loss, excluding share-based compensation and changes in fair value of the 2017 convertible notes. We believe these measures can enhance our investors' understandings of the actual cash flows of our major businesses when used as a complement to our GAAP disclosures.
For a discussion of the use of non-GAAP financial measures and reconciliation with the closest GAAP measures, please refer to the section on non-GAAP financial measures in our press release.
I have here with me Sea's Chairman and Group Chief Executive Officer, Forrest Li; and Group Chief Financial Officer, Tony Hou. Forrest and Tony will share strategy and business updates, operating highlights and financial performance for the quarter. This will be followed by a Q&A session in which we welcome any questions you have.
With that, let me turn the call over to Forrest.
Thank you, Yanjun. Hello, everyone, and thank you as always for joining today's call. I hope that you are all in good health and staying safe. On behalf of all of us at Sea, I would like to thank you for your ongoing support during this exceptional period.
These are time of significant change and disruptions for communities, economies and businesses around the world. Against this challenging backdrop, we are proud that we have been accelerating growth and we are reporting very strong results for the first quarter.
Our communities are increasingly relying on our platforms during the pandemic. Our users are turning to Garena to enjoy interactive entertainment and socialize with their friends during the social isolation of the lockdown. Shopee is becoming a more integral part of the commercial ecosystem in each of our markets with consumers now relying on our platform for their staple, daily essentials and other consumption needs. At the same time, more sellers are migrating to or relying more on Shopee to sell and grow their business. As our economies become more online and contactless, the digital payments and the financial services that SeaMoney provide are becoming an ever more important part of the infrastructure in our region.
The coronavirus crisis is driving a step change in the growth of the digital economy globally, particularly in the market and the segments where