Technology firm Sea Group – which owns e-commerce platform Shopee and game developer Garena – logged net losses of US$425.6 million ($571.90 million) in 3QFY2020 ended Sep 30, up 106.3% from the US$206.1 million in losses posted a year ago.

On a fully diluted basis, this translates to losses per share of US$0.69, up 81.6% from US$0.38 in 3QFY2019.

In this time, the NYSE-listed, Singapore-based firm reported a total adjusted EBITDA (earnings before interest, taxes, depreciation and ammortisation) of US$120.4 million a 98.7% surge from the US$30.8 million in losses reported in the previous year.

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