Sea Limited
Q2 2022 Earnings Call
Aug 16, 2022, 7:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning and good evening. Welcome to the Sea Limited second quarter 2022 results conference call. [Operator instructions] Please note this event is being recorded. I'd now like to turn the conference over to Ms.
Minju Song. Please go ahead.
Minju Song -- Senior Manager, Group CCO's Office
Thank you, Jason, and hello, everyone, and welcome to Sea's 2022 second quarter earnings conference call. I'm Minju Song from Sea's Group chief corporate officer's office. 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 a discussion of certain non-GAAP financial measures, such as adjusted EBITDA and net loss, excluding share-based compensation and impairment of goodwill.
We believe these measures can enact our investors' understanding 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 with me Sea's chairman and your chief executive officer, Forrest Li; Group chief financial officer, Tony Hou; and Group chief corporate officer, Yanjun Wang. Our management will share strategy and business updates, operating highlights, and financial performance for the second quarter of 2022.
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.
Forrest Li -- Chairman and Group Chief Executive Officer
Hello, everyone, and thank you all for joining us today. I'm going to start with an update on our plans to further focus on efficiency and strengthening our ecosystem for long-term profitability and competitiveness. I will also share a few highlights across our businesses as we make steady progress toward these objectives. During the pandemic lockdown, we rapidly scaled our businesses to answer to the fast-rising market demand for online consumption and services.
As a result, we significantly expanded our businesses and the total addressable market and strengthening our market leadership while improving growth efficiency. We were able to achieve these results by focusing on doing the right thing at the right time in setting our direction and being agile and adaptable in our execution. Now we are in an environment of increased macro uncertainty with rising inflation, rising interest rates, local currency depreciation against the U.S. dollar, and ongoing reopening trends.