As of Q3'25, Sea Limited (SE) reported a Gross Margin of 43.4%, an Operating Margin of 7.95%, and a Net Profit Margin of 6.2%. These figures reflect a continued recovery from previous quarters, with all three profitability metrics showing improvement compared to the lows observed in late 2023 and early 2024. From Q4'22 to Q3'25, the chart reveals a period of volatility, particularly in Operating and Net Profit Margins, which dipped into negative territory in Q3'23 and Q4'23 before rebounding steadily through 2024 and into 2025. Gross Margin remained relatively stable, fluctuating between 41.6% and 49.2%, but trended slightly downward before stabilizing and recovering. Overall, the data indicates that SE has managed to reverse earlier declines in profitability, with recent quarters demonstrating a positive trajectory across all margin metrics.