Global-e (Nasdaq: GLBE) boosts 2026 guidance after strong Q2 surge
Rhea-AI Filing Summary
Global-e Online Ltd. reported strong second quarter 2026 results, with GMV up 44% year over year and revenue up 39% year over year to $299.0 million. Gross profit rose to $131.9 million, and net profit attributable to ordinary shareholders increased to $47.7 million, compared with $10.5 million a year earlier.
Adjusted EBITDA grew to $62.4 million, and the company stated that its Adjusted EBITDA margin expanded 300 basis points year over year to 20.9%, aided by operating leverage and AI-driven efficiency gains. For the first half of 2026, revenue reached $551.1 million with net profit of $78.1 million.
On the balance sheet, cash and cash equivalents were $285.4 million and total assets were $1.36 billion as of June 30, 2026. The company repurchased $126.9 million of shares in the first half of 2026. Global-e raised its full-year 2026 outlook across all guidance metrics, now expecting revenue of $1,305–$1,355 million, GMV of $8,810–$9,110 million, and Adjusted EBITDA of $278–$300 million, and introduced Q3 2026 guidance consistent with continued growth.
Positive
- Revenue grew 39% YoY in Q2 2026 to $299.0 million, reflecting strong expansion across service fees and fulfillment services.
- GMV increased 44% YoY in Q2 2026 to $2,088.7 million, indicating robust transaction volume growth on the platform.
- Net profitability improved sharply, with Q2 2026 net profit of $47.7 million versus $10.5 million a year earlier and H1 2026 net profit of $78.1 million versus a loss in H1 2025.
- Profitability metrics strengthened, as Adjusted EBITDA rose to $62.4 million in Q2 2026 and the company reported an Adjusted EBITDA margin of 20.9%, up 300 bps YoY.
- The company raised full-year 2026 guidance across GMV, revenue and Adjusted EBITDA, increasing revenue guidance from $1,220–$1,280 million to $1,305–$1,355 million and Adjusted EBITDA guidance from $264.5–$289.5 million to $278–$300 million.
- Free cash flow was strong in Q2 2026 at $73.2 million, and cash and cash equivalents stood at $285.4 million as of June 30, 2026, providing liquidity to support operations and growth.
- The company returned capital to shareholders through $126.9 million of share repurchases in the first half of 2026.
Negative
- None.
Key Figures
Q2 2026 Revenue: $299,000 (thousands)
Q2 2026 GMV: $2,088,716 (thousands)
Q2 2026 Net Profit: $47,723 (thousands)
+5 more
8 metrics
Q2 2026 Revenue
$299,000 (thousands)
Revenue for the three months ended June 30, 2026
Q2 2026 GMV
$2,088,716 (thousands)
Gross Merchandise Value for the three months ended June 30, 2026
Q2 2026 Net Profit
$47,723 (thousands)
Net profit attributable to ordinary shareholders in Q2 2026
Q2 2026 Adjusted EBITDA
$62,424 (thousands)
Adjusted EBITDA for the three months ended June 30, 2026
Adjusted EBITDA Margin
20.9%
Adjusted EBITDA margin in Q2 2026, up 300 basis points YoY
FY 2026 Revenue Guidance
$1,305–$1,355 (millions)
Updated full-year 2026 revenue outlook range
Cash and Cash Equivalents
$285,356 (thousands)
Cash and cash equivalents as of June 30, 2026
H1 2026 Share Repurchases
$126,944 (thousands)
Cash used for repurchase of shares in the six months ended June 30, 2026
Key Terms
Gross Merchandise Value, Adjusted EBITDA, Non-GAAP net profit, Free Cash Flow, +1 more
5 terms
Gross Merchandise Value financial
"GMV Increased 44% YoY and Revenue Increased 39% YoY"
Total dollar value of all goods and services sold through a marketplace or e-commerce platform during a set period, before deducting fees, returns or costs. Think of it as the total amount rung up at the register across an entire shopping mall: it shows the platform’s sales volume and user activity. Investors watch it to gauge growth and marketplace traction, but must pair it with metrics like revenue share and margins to assess profitability.
Adjusted EBITDA financial
"Adjusted EBITDA Margin Expanded 300 Basis Points YoY to 20.9%"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Non-GAAP net profit financial
"Non-GAAP net profit is a non-GAAP financial measure."
Non-GAAP net profit is a company's reported profit after management removes certain expenses or adds back items that standard accounting rules (GAAP) would normally include. Investors use it to see an adjusted view of recurring business performance—like looking at a household's monthly budget after taking out a one-time repair—so they can compare operational trends, but it can vary by company and should be reviewed alongside the standard GAAP figures.
Free Cash Flow financial
"Free Cash Flow is a non-GAAP financial measure."
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
merchant of record financial
"our operation as a merchant of record for sales conducted using our platform"
A merchant of record is the legal entity shown on a customer’s receipt that is responsible for processing payments, collecting sales taxes, issuing refunds, and handling chargebacks — in effect the ‘store’ that legally sells the product. For investors this matters because it determines who recognizes revenue, bears payment and compliance risk, and pays transaction fees; like seeing a name on a receipt, it shows who carries the financial and legal responsibility for a sale.
Earnings Snapshot
GMV: $2,088,716 (thousands) · Guidance included
Q2 2026
GMV
$2,088,716 (thousands)
GMV increased 44% year over year.
Revenue
$299,000 (thousands)
Revenue increased 39% year over year.
Adjusted EBITDA margin
20.9%
Adjusted EBITDA margin expanded 300 basis points year over year.
FY 2026 revenue guidance
$1,305–$1,355 (millions)
Raised from a previous range of $1,220–$1,280 million.
Guidance
The company provided Q3 2026 guidance for GMV of $1,995–$2,045 million, revenue of $308.5–$315.5 million, Adjusted EBITDA of $58.5–$62.5 million, and raised full-year 2026 guidance for GMV, revenue and Adjusted EBITDA.
FAQ
How did Global-e (GLBE) perform financially in Q2 2026?
Global-e reported Q2 2026 revenue of $299.0 million, up 39% year over year, and net profit of $47.7 million. Gross profit reached $131.9 million, supported by strong GMV growth and improved profitability metrics.
What was Global-e’s (GLBE) GMV and revenue growth in Q2 2026?
In Q2 2026, Global-e’s GMV increased 44% year over year to $2,088.7 million, while revenue grew 39% year over year to $299.0 million. These gains reflected strong volumes from existing and newly onboarded merchants.
How profitable was Global-e (GLBE) in Q2 and H1 2026?
Global-e generated Q2 2026 net profit of $47.7 million and H1 2026 net profit of $78.1 million. Adjusted EBITDA reached $62.4 million in Q2 and $112.6 million in the first half, with an Adjusted EBITDA margin of 20.9% in Q2.
What guidance did Global-e (GLBE) provide for Q3 and full year 2026?
For Q3 2026, Global-e expects revenue of $308.5–$315.5 million and Adjusted EBITDA of $58.5–$62.5 million. For full year 2026, it raised guidance to revenue of $1,305–$1,355 million, GMV of $8,810–$9,110 million, and Adjusted EBITDA of $278–$300 million.
What is Global-e’s (GLBE) liquidity and balance sheet position as of June 30, 2026?
As of June 30, 2026, Global-e held $285.4 million in cash and cash equivalents, plus $74.7 million in marketable securities. Total assets were $1.36 billion, and shareholders’ equity was $903.7 million, providing a solid capital base.
Did Global-e (GLBE) generate free cash flow in Q2 2026?
Yes. Global-e reported Q2 2026 free cash flow of $73.2 million, derived from $73.6 million of net cash from operating activities and $0.5 million of capital expenditures. For H1 2026, free cash flow was modestly positive at $0.3 million.
How much stock did Global-e (GLBE) repurchase in H1 2026?
During the first half of 2026, Global-e used cash to repurchase $126.9 million of shares. This followed $68.0 million of share repurchases in Q2 alone, reflecting an ongoing capital return program funded from the company’s liquidity.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
(Commission File No. 001-40408)
Global-E Online Ltd.
(Translation of registrant’s name into English)
Global-E Online Ltd
9 HaPsagot St.,
Petah Tikva 4951041, Israel
(Address of registrant’s principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
EXPLANATORY NOTE
On August 12, 2026, Global-E Online Ltd. (the “Company”) issued a press release titled “Global-e Achieves Significant GMV, Revenue and Profit Expansion in the Second Quarter of 2026, Raises Outlook
for the Year” A copy of the press release is furnished as Exhibit 99.1 herewith.
Other than as indicated below, the information in this Form 6-K (including in Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
The U.S. GAAP financial information contained in the (i) consolidated balance sheets, (ii) consolidated statements of operations and (iii) consolidated statement of cash flows included in the press
release attached as Exhibit 99.1 to this Report on Form 6-K are hereby incorporated by reference into the Company’s Registration Statement on Form S-8 (File No. 333-256403).
2
EXHIBIT INDEX
The following exhibit is furnished as part of this Form 6-K:
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Exhibit
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Description
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99.1
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Press release dated August 12, 2026 titled “Global-e Achieves Significant GMV,
Revenue and Profit Expansion in the Second Quarter of 2026, Raises Outlook for the Year”
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3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
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Global-E Online Ltd.
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(Registrant)
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By:
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/s/ Ofer Koren
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Name:
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Ofer Koren
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Title:
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Chief Financial Officer
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Date: August 12, 2026
4
Exhibit 99.1
Global-e Achieves Significant GMV, Revenue and Profit Expansion
in the Second Quarter of 2026, Raises Outlook for the Year
GMV Increased 44% YoY and Revenue Increased 39% YoY
Adjusted EBITDA Margin Expanded 300 Basis Points YoY to 20.9%
Raising FY 2026 Outlook Across All Guidance Metrics
PETAH-TIKVA, Israel, August 12, 2026 - Global-e Online Ltd. (Nasdaq: GLBE), the global e-commerce enablement platform, today reported financial results for the second quarter of
2026.
"The second quarter continued to show great top-line momentum, fueled by very strong volumes from existing merchants and the 2025 cohort of launched merchants, as well as strong initial performance from recently
onboarded merchants. Given our operating leverage and the efficiency gains we are driving throughout the business using AI, our Adjusted EBITDA margin showed a significant step up of 300 basis points compared with last year, reaching over 20%,"
said Amir Schlachet, Founder and CEO of Global-e. "Given the strong results through the first half of 2026 and the trends that we are seeing in the market today, we expect 2026 revenue growth to show meaningful year-on-year acceleration, and we
remain ahead of our long-term growth targets.”
Q2 2026 Financial Results
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GMV1 in the second quarter of 2026 was $2,089 million, an increase of 44% year over year
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Revenue in the second quarter of 2026 was $299.0 million, an increase of 39% year over year, of which service fees revenue was $139.4 million and fulfillment services revenue was $159.6 million
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Non-GAAP gross profit2 in the second quarter of 2026 was $135.4 million, an increase of 36% year over year. GAAP gross profit in the second quarter of 2026 was $131.9 million
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Non-GAAP gross margin2 in the second quarter of 2026 was 45.3%, compared to 46.5% in the second quarter of 2025. GAAP gross margin in the second quarter of 2026 was 44.1%
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Adjusted EBITDA3 in the second quarter of 2026 was $62.4 million compared to $38.5 million in the second quarter of 2025, up 62% year over year
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Non-GAAP net profit4 in the second quarter of 2026 was $64.9 million compared to $37.9 million in the second quarter of 2025. Net profit in the second quarter of 2026 was $47.7 million
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Free Cash Flow5 generated in the second quarter of 2026 was $73.2 million compared to $63.5 million generated in the second quarter of 2025. Net cash provided by operating activities in the second quarter of 2026 was $73.6
million
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Recent Business Highlights
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Continued strong volume trends from both existing and recently launched merchants
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Continued progress on Shopify Managed Markets Version 2.0
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Managed Markets now available in Canada and the UK, expanding availability beyond the US for the first time
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Migrated the remaining merchants from Version 1.0 to Version 2.0, with very positive initial merchant feedback
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Continued to launch with enterprise brands across geographies and verticals in Q2 2026, including:
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European and UK brands such as:
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Italian brands Ferrari, the legendary Italian supercar maker; and Manebí, the espadrille specialist
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German brands 6PM, the contemporary streetwear label; and Mikuta, the influencer-founded fashion brand
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Swedish brands Malina, the Stockholm-based fashion house; and C'est Normal, a fashion and lifestyle brand for men
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French brands Officine Universelle Buly, the luxury artisanal fragrances brand, which is part of the LVMH group; and J.M. Weston, the master shoemaker
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UK brands such as Naked Wolfe, the sneaker brand; and N.Peal, the historic cashmere brand
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North American brands such as:
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The ROOT Brands, the fast-growing wellness and supplement company; Buffbunny, the popular fitness and activewear brand; Dolce
Vita, the contemporary footwear brand from the Steve Madden family; Six Zero Pickleball, the fast-growing paddle brand; and McLaren Golf, the
recently launched brand of golf gear from the McLaren racing team
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APAC brands such as:
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Universal Music Japan where Global-e launched a second brand with the label; All Things Golden, the Australian boutique label; and Korean fashion labels ADERERROR and The Loeil
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Expanded scope of business with a number of merchants, such as:
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FIGS - continued to expand, opening additional countries across APAC
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Pokémon - expanded to support significantly more volume tied to its highly anticipated, viral product drops
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Peter Millar and G/FORE - the Richemont golf-wear brands that launched last quarter, expanded into additional UK markets
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Isabel Marant - the French luxury fashion house, expanded into additional markets
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Executed $68 million of share repurchases in Q2 2026, completing the 2025 share repurchase plan of $200 million. On June 4, 2026, the Global-e Board of Directors authorized a new, incremental $500
million share repurchase plan
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Q3 2026 and Full Year Outlook
Global-e is introducing third quarter guidance and is increasing the full year guidance, as follows:
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Q3 2026
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FY 2026
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Previous FY 2026
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(in millions)
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GMV (1)
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$
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1,995 - $2,045
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$
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8,810 - $9,110
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$
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8,530 - $8,880
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Revenue
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$
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308.5 - $315.5
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$
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1,305 - $1,355
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$
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1,220 - $1,280
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Adjusted EBITDA (3)
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$
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58.5 - $62.5
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$
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278 - $300
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$
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264.5 - $289.5
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Included within the guidance ranges above, Passport is expected to contribute:
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Q3 2026
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GMV1: ~$20 million (of Merchant of Record business)
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Revenue: $24-26 million
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Adjusted EBITDA3: under $1 million
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FY 2026 (H2 2026 contribution):
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GMV1: ~$60 million (of Merchant of Record business)
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Revenue: $55-59 million
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Adjusted EBITDA3: $3-4 million
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1 Gross Merchandise Value (GMV) is a key operating metric. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
2 Non-GAAP Gross Profit and Non-GAAP Gross Margin are non-GAAP financial measures. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding these metrics.
3 Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric, including the
reconciliations to Net Profit (Loss), its most directly comparable GAAP financial measure. The Company is unable to provide a reconciliation of Adjusted EBITDA to Net Profit (Loss), its most directly comparable GAAP financial measure, on a
forward-looking basis without unreasonable effort because items that impact this GAAP financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to income tax
(benefit) expenses, financial expenses (income), net, stock-based
compensation, depreciation and amortization, commercial agreement asset amortization, amortization of acquired intangibles, and merger-related contingent consideration. Such information may have a significant, and potentially unpredictable
impact on the Company’s future financial results.
4 Non-GAAP net profit is a non-GAAP financial measure. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric,
including the reconciliations to Net Profit (Loss), its most directly comparable GAAP financial measure.
5 Free Cash Flow is a non-GAAP financial measure. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric,
including the reconciliation to net cash provided by (used in) operating activities, its most directly comparable GAAP financial measure.
Conference Call Information:
Global-e will host a conference call at 8:00 a.m. ET on Wednesday, August 12, 2026.
The call will be available, live, to interested parties by dialing:
| United States/Canada Toll Free: | 1-800-717-1738 |
| International Toll: | 1-646-307-1865 |
A live webcast will also be available in the Investor Relations section of Global-e’s website at: https://investors.global-e.com/news-events/events-presentations
Approximately two hours after completion of the live call, an archived version of the webcast will be available on the Investor Relations section of the Company’s web site and will remain available for approximately 30
calendar days.
The press release with the financial results will be accessible on the Company’s Investor Relations website prior to the conference call.
Non-GAAP Financial Measures and Key Operating Metrics
To supplement Global-e’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Global-e considers certain financial measures and key
performance metrics that are not prepared in accordance with GAAP including:
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Non-GAAP gross profit, which Global-e defines as gross profit adjusted for amortization of acquired intangibles included in cost of revenue. Non-GAAP gross margin is calculated as Non-GAAP gross profit divided by revenues
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Adjusted EBITDA, which Global-e defines as net profit (loss) adjusted for income tax (benefit) expenses, financial expenses (income), net, stock-based compensation expenses, depreciation and amortization, commercial agreement asset
amortization, amortization of acquired intangibles, and merger-related contingent consideration. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by revenue.
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Non-GAAP net profit, which Global-e defines as net profit adjusted for stock-based compensation, commercial agreement asset amortization, amortization of acquired intangibles, and merger-related contingent consideration.
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Non-GAAP net profit per share, which Global-e defines as Non-GAAP net profit divided by GAAP weighted-average shares outstanding, basic and diluted.
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Free Cash Flow, which Global-e defines as net cash provided by (used in) operating activities less the purchase of property and equipment.
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Global-e also uses Gross Merchandise Value (GMV) as a key operating metric. Gross Merchandise Value or GMV is defined as the combined amount we collect from the shopper and the merchant for all components of a given
transaction, including products, duties and taxes and shipping.
The aforementioned key performance indicators and non-GAAP financial measures are used, in conjunction with GAAP measures, by management and our board of directors to assess our performance, including the preparation
of Global-e’s annual operating budget and quarterly forecasts, for financial and operational decision-making, to evaluate the effectiveness of Global-e’s business strategies, and as a means to evaluate period-to-period comparisons. These measures
are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that these non-GAAP financial measures are appropriate measures of operating performance because they remove the impact of
certain items that we believe do not directly reflect our core operations, and permit investors to view performance using the same tools that we use to budget, forecast, make operating and strategic decisions, and evaluate historical performance.
Global-e’s definition of Non-GAAP measures may differ from the definition used by other companies and therefore comparability may be limited. In addition, other companies may not publish these metrics or similar
metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Non-GAAP measures
should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.
For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying reconciliation tables have more details on the GAAP financial measures that are most
directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.
Cautionary Note Regarding Forward Looking Statements
This press release contains estimates and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press
release other than statements of historical fact, including, without limitation, statements regarding our future strategy and projected Q3 2026 and full year 2026 guidance for revenue, GMV, Adjusted EBITDA and other future financial and operational
results, growth strategy, long-term financial or operational targets, and plans and objectives of management for future operations, including, among others, expansion in new and existing markets, the launch of large enterprise merchants, our
competitive positioning and market leadership, and our ongoing partnership with Shopify, acquisitions and the expected contributions, integration and performance of acquired businesses, including Passport, the continued expansion of our value-added
services, including Duty Drawback and customs reclaim programs, the anticipated expansion of Managed Markets Version 2.0, go-to-market initiatives, share repurchases, product innovation and platform enhancements, including omnichannel fulfillment
capabilities such as Buy Online Pickup In Store (BOPIS), are forward-looking statements. As the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,”
“potential,” “continue,” “contemplate,” “possible,” “project,” “forecast,” “outlook,” “goal” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements
use these words or expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.
Global-e believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement,
including but not limited to, our rapid growth and growth rates in recent periods may not be indicative of future growth; our ability to retain existing merchants and to attract new merchants; our ability to anticipate merchant needs or develop or
integrate new functionality or enhance our existing platforms to meet those needs; the impact of imposed tariffs or other trade regulations on our business and financial results; our ability to implement and use artificial intelligence and machine
learning technologies successfully; our ability to compete in our industry; our reliance on third-parties, including our ability to realize the benefits of any strategic alliances, joint ventures, or partnership arrangements and to integrate our
platforms with third-party platforms; our ability to adapt our platform and services for the Shopify platforms; our ability to develop or maintain the functionality of our platforms, including real or perceived errors, failures, vulnerabilities, or
bugs in our platforms; our history of net losses; our ability to manage our growth and manage expansion into additional markets and the introduction of new platforms and offerings; our ability to accommodate increased volumes during peak seasons
and events; our ability to effectively expand our marketing and sales capabilities; our expectations regarding our revenue, expenses and operations; our ability to operate internationally; our reliance on third-party services, including third-party
providers of cross-docking services and third-party data centers, in our platforms and services and harm to our reputation by our merchants’ or third-party service providers’ unethical business practices; our operation as a merchant of record for
sales conducted using our platform; regulatory requirements and additional fees related to payment transactions through our e-commerce platforms could be costly and difficult to comply with;
compliance and third-party risks related to anti-money laundering, anti-corruption, anti-bribery, regulations, economic sanctions and export control laws and import regulations and restrictions; changes in customs,
duty drawback or trade compliance regulations that could affect the availability or scope of our Duty Drawback programs; our business’s reliance on the personal importation model; our ability to securely store personal information of merchants and
shoppers; increases in shipping rates; fluctuations in the exchange rate of foreign currencies has impacted and could continue to impact our results of operations; our ability to offer high quality support; our ability to expand the number of
merchants using our platforms and increase our GMV and to enhance our reputation and awareness of our platforms; our ability to adapt to emerging or evolving regulatory developments, changing laws, regulations, standards and technological changes
related to privacy, data protection, data security and machine learning technology and generative artificial intelligence; our role in the fulfilment chain of the merchants, which may cause third parties to confuse us with the merchants; our
ability to establish and protect intellectual property rights; and our use of open-source software which may pose particular risks to our proprietary software technologies; our dependency on our executive officers and other key employees and our
ability to hire and retain skilled key personnel, including our ability to enforce non-compete agreements we enter into with our employees; litigation for a variety of claims which we may be subject to; the adoption by merchants of a D2C model; our
anticipated cash needs and our estimates regarding our capital requirements and our needs for additional financing; our ability to maintain our corporate culture; our ability to maintain an effective system of disclosure controls and internal
control over financial reporting; our ability to accurately estimate judgments relating to our critical accounting policies; changes in tax laws or regulations to which we are subject, including the enactment of legislation implementing changes in
taxation of international business activities and the adoption of other corporate tax reform policies; requirements to collect sales or other taxes relating to the use of our platforms and services in jurisdictions where we have not historically
done so; global events or conditions in individual markets such as financial and credit market fluctuations, war, climate change, and macroeconomic events; risks relating to our ordinary shares, including our share price, the concentration of our
share ownership with insiders, our status as a foreign private issuer, provisions of Israeli law and our amended and restated articles of association and actions of activist shareholders;
risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on March 26, 2026 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur and you should not place undue reliance on our forward-looking statements. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on March 26, 2026 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur and you should not place undue reliance on our forward-looking statements. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
About Global-E Online Ltd.
Global-e (Nasdaq: GLBE) is the world's leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,500 brands and retailers across North America, EMEA and APAC,
Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless,
localized shopping experience. Global-e's end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce
experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.
Investor Contact:
Alan Katz
Global-e Investor Relations
IR@global-e.com
Press Contact:
Allison Grey
Headline Media
Allison Grey
Headline Media
allison@headline.media
+1 323 283 8176
Global-E Online Ltd.
CONSOLIDATED BALANCE SHEETS
(In thousands)
|
Period Ended
|
||||||||
|
December 31,
|
June 30,
|
|||||||
|
2025
|
2026
|
|||||||
|
(Audited)
|
(Unaudited)
|
|||||||
|
Assets
|
||||||||
|
Current assets:
|
||||||||
|
Cash and cash equivalents
|
$
|
245,860
|
$
|
285,356
|
||||
|
Short-term deposits
|
302,829
|
170,392
|
||||||
|
Accounts receivable, net
|
55,706
|
78,632
|
||||||
|
Prepaid expenses and other current assets
|
126,470
|
124,225
|
||||||
|
Marketable securities
|
74,147
|
74,660
|
||||||
|
Funds receivable, including cash in banks
|
181,650
|
157,784
|
||||||
|
Total current assets
|
986,662
|
891,049
|
||||||
|
Property and equipment, net
|
11,234
|
10,832
|
||||||
|
Operating lease right-of-use assets
|
20,496
|
21,355
|
||||||
|
Deferred contract acquisition and fulfillment costs, noncurrent
|
4,242
|
4,136
|
||||||
|
Long-term investments and other long-term assets
|
11,838
|
12,058
|
||||||
|
Commercial agreement asset
|
531
|
-
|
||||||
|
Goodwill
|
375,399
|
375,399
|
||||||
|
Intangible assets, net
|
52,385
|
40,429
|
||||||
|
Total long-term assets
|
476,125
|
464,209
|
||||||
|
Total assets
|
$
|
1,462,787
|
$
|
1,355,258
|
||||
|
Liabilities and Shareholders’ Equity
|
||||||||
|
Current liabilities:
|
||||||||
|
Accounts payable
|
$
|
91,585
|
$
|
80,767
|
||||
|
Accrued expenses and other current liabilities
|
231,665
|
186,019
|
||||||
|
Funds payable to Customers
|
181,650
|
157,784
|
||||||
|
Short term operating lease liabilities
|
5,053
|
6,005
|
||||||
|
Total current liabilities
|
509,953
|
430,575
|
||||||
|
Long-term liabilities:
|
||||||||
|
Long term operating lease liabilities
|
18,449
|
19,395
|
||||||
|
Deferred tax liabilities, net
|
286
|
65
|
||||||
|
Other long-term liabilities
|
1,415
|
1,567
|
||||||
|
Total liabilities
|
$
|
530,103
|
$
|
451,602
|
||||
|
Shareholders’ equity:
|
||||||||
|
Share capital and additional paid-in capital
|
1,466,231
|
1,487,435
|
||||||
|
Accumulated comprehensive income (loss)
|
2,800
|
1,435
|
||||||
|
Accumulated deficit
|
(536,347
|
)
|
(585,214
|
)
|
||||
|
Total shareholders’ equity
|
932,684
|
903,656
|
||||||
|
Total liabilities and shareholders’ equity
|
$
|
1,462,787
|
$
|
1,355,258
|
||||
Global-E Online Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
Revenue
|
$
|
214,877
|
$
|
299,000
|
$
|
404,759
|
$
|
551,086
|
||||||||
|
Cost of revenue
|
117,206
|
167,127
|
223,004
|
304,333
|
||||||||||||
|
Gross profit
|
97,671
|
131,873
|
181,755
|
246,753
|
||||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Research and development
|
30,733
|
34,979
|
58,871
|
67,954
|
||||||||||||
|
Sales and marketing
|
43,957
|
35,820
|
107,895
|
70,252
|
||||||||||||
|
General and administrative
|
12,468
|
16,395
|
23,661
|
30,896
|
||||||||||||
|
Total operating expenses
|
87,158
|
87,194
|
190,427
|
169,102
|
||||||||||||
|
Operating profit (loss)
|
10,513
|
44,679
|
(8,672
|
)
|
77,651
|
|||||||||||
|
Financial expenses (income), net
|
(978
|
)
|
(4,711
|
)
|
(2,848
|
)
|
(3,257
|
)
|
||||||||
|
Profit (loss) before income taxes
|
11,491
|
49,390
|
(5,824
|
)
|
80,908
|
|||||||||||
|
Income taxes
|
1,000
|
1,667
|
1,541
|
2,830
|
||||||||||||
|
Net profit (loss) attributable to ordinary shareholders
|
$
|
10,491
|
$
|
47,723
|
$
|
(7,365
|
)
|
$
|
78,078
|
|||||||
|
Net profit (loss) per share attributable to ordinary shareholders, basic
|
$
|
0.06
|
$
|
0.28
|
$
|
(0.04
|
)
|
$
|
0.47
|
|||||||
|
Net profit (loss) per share attributable to ordinary shareholders, diluted
|
$
|
0.06
|
$
|
0.27
|
$
|
(0.04
|
)
|
$
|
0.45
|
|||||||
|
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic
|
169,788,923
|
167,537,484
|
169,569,068
|
167,896,222
|
||||||||||||
|
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, diluted
|
175,588,437
|
175,124,595
|
169,569,068
|
175,201,559
|
||||||||||||
Global-E Online Ltd.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
Operating activities
|
||||||||||||||||
|
Net profit (loss)
|
$
|
10,491
|
$
|
47,723
|
$
|
(7,365
|
)
|
$
|
78,078
|
|||||||
|
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
|
||||||||||||||||
|
Depreciation
|
571
|
610
|
1,107
|
1,215
|
||||||||||||
|
Share-based compensation expense
|
10,058
|
11,032
|
18,851
|
20,982
|
||||||||||||
|
Commercial agreement asset
|
12,927
|
-
|
49,944
|
531
|
||||||||||||
|
Amortization of intangible assets
|
4,402
|
5,978
|
8,804
|
11,956
|
||||||||||||
|
Changes in accrued interest and exchange rate on short-term deposits
|
(1,383
|
)
|
(408
|
)
|
(2,225
|
)
|
(413
|
)
|
||||||||
|
Unrealized loss (gain) on foreign currency
|
(6,045
|
)
|
(178
|
)
|
(7,522
|
)
|
(1,383
|
)
|
||||||||
|
Accounts receivable
|
4,523
|
(34,483
|
)
|
10,994
|
(22,926
|
)
|
||||||||||
|
Prepaid expenses and other assets
|
23,615
|
(3,863
|
)
|
(4,790
|
)
|
1,518
|
||||||||||
|
Funds receivable
|
(3,884
|
)
|
(13,706
|
)
|
(13,066
|
)
|
(9,331
|
)
|
||||||||
|
Long-term investments and other receivables
|
(298
|
)
|
(397
|
)
|
(197
|
)
|
(81
|
)
|
||||||||
|
Funds payable to customers
|
4,893
|
41,605
|
(30,607
|
)
|
(23,867
|
)
|
||||||||||
|
Operating lease ROU assets
|
960
|
1,075
|
2,024
|
2,115
|
||||||||||||
|
Deferred contract acquisition costs
|
(210
|
)
|
56
|
(311
|
)
|
84
|
||||||||||
|
Accounts payable
|
(14,324
|
)
|
14,941
|
(26,699
|
)
|
(10,818
|
)
|
|||||||||
|
Accrued expenses and other liabilities
|
17,887
|
3,776
|
(5,823
|
)
|
(45,500
|
)
|
||||||||||
|
Operating lease liabilities
|
773
|
(123
|
)
|
(210
|
)
|
(1,076
|
)
|
|||||||||
|
Net cash provided by (used in) operating activities
|
64,956
|
73,638
|
(7,091
|
)
|
1,084
|
|||||||||||
|
Investing activities
|
||||||||||||||||
|
Investment in marketable securities
|
(1,911
|
)
|
(2,220
|
)
|
(19,679
|
)
|
(6,626
|
)
|
||||||||
|
Proceeds from marketable securities
|
699
|
1,940
|
1,698
|
5,331
|
||||||||||||
|
Purchases of short-term investments
|
(114,000
|
)
|
(17,900
|
)
|
(184,972
|
)
|
(130,880
|
)
|
||||||||
|
Purchases of long-term investments
|
-
|
-
|
-
|
(136
|
)
|
|||||||||||
|
Proceeds from short-term investments
|
44,000
|
150,800
|
111,059
|
263,730
|
||||||||||||
|
Purchases of property and equipment
|
(1,440
|
)
|
(452
|
)
|
(1,988
|
)
|
(813
|
)
|
||||||||
|
Net cash provided by (used in) investing activities
|
(72,652
|
)
|
132,168
|
(93,882
|
)
|
130,606
|
||||||||||
|
Financing activities
|
||||||||||||||||
|
Repurchase of shares
|
-
|
(67,999
|
)
|
-
|
(126,944
|
)
|
||||||||||
|
Proceeds from exercise of share options
|
191
|
86
|
401
|
167
|
||||||||||||
|
Net cash provided by (used in) financing activities
|
191
|
(67,913
|
)
|
401
|
(126,777
|
)
|
||||||||||
|
Exchange rate differences on balances of cash, cash equivalents and restricted cash
|
6,045
|
178
|
7,522
|
1,383
|
||||||||||||
|
Net increase (decrease) in cash, cash equivalents, and restricted cash
|
(1,460
|
)
|
138,071
|
(93,050
|
)
|
6,296
|
||||||||||
|
Cash and cash equivalents and restricted cash—beginning of period
|
240,092
|
243,140
|
331,682
|
374,915
|
||||||||||||
|
Cash and cash equivalents and restricted cash—end of period
|
$
|
238,632
|
$
|
381,211
|
$
|
238,632
|
$
|
381,211
|
||||||||
Global-E Online Ltd.
SELECTED OTHER DATA
(In thousands)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||||||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||||||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||||||||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||||||||||||||||||
|
Key performance metrics
|
||||||||||||||||||||||||||||||||
|
Gross Merchandise Value
|
1,453,884
|
2,088,716
|
2,696,398
|
3,830,837
|
||||||||||||||||||||||||||||
|
Adjusted EBITDA (a)
|
38,471
|
62,424
|
70,034
|
112,583
|
||||||||||||||||||||||||||||
|
Revenue by Category
|
||||||||||||||||||||||||||||||||
|
Service fees
|
102,853
|
48
|
%
|
139,427
|
47
|
%
|
186,836
|
46
|
%
|
260,246
|
47
|
%
|
||||||||||||||||||||
|
Fulfillment services
|
112,024
|
52
|
%
|
159,573
|
53
|
%
|
217,923
|
54
|
%
|
290,840
|
53
|
%
|
||||||||||||||||||||
|
Total revenue
|
$
|
214,877
|
100
|
%
|
$
|
299,000
|
100
|
%
|
$
|
404,759
|
100
|
%
|
$
|
551,086
|
100
|
%
|
||||||||||||||||
|
Revenue by merchant outbound region
|
||||||||||||||||||||||||||||||||
|
United States
|
117,483
|
55
|
%
|
151,380
|
51
|
%
|
218,037
|
54
|
%
|
277,759
|
50
|
%
|
||||||||||||||||||||
|
United Kingdom
|
41,474
|
19
|
%
|
58,270
|
19
|
%
|
83,221
|
21
|
%
|
105,540
|
19
|
%
|
||||||||||||||||||||
|
European Union
|
38,738
|
18
|
%
|
57,378
|
19
|
%
|
72,268
|
18
|
%
|
110,782
|
20
|
%
|
||||||||||||||||||||
|
Israel
|
416
|
0
|
%
|
247
|
0
|
%
|
817
|
0
|
%
|
614
|
0
|
%
|
||||||||||||||||||||
|
Other
|
16,766
|
8
|
%
|
31,725
|
11
|
%
|
30,416
|
7
|
%
|
56,391
|
11
|
%
|
||||||||||||||||||||
|
Total revenue
|
$
|
214,877
|
100
|
%
|
$
|
299,000
|
100
|
%
|
$
|
404,759
|
100
|
%
|
$
|
551,086
|
100
|
%
|
||||||||||||||||
| (a) |
See reconciliation to Adjusted EBITDA table
|
Global-E Online Ltd.
RECONCILIATION TO Non-GAAP GROSS PROFIT
(In thousands)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||
|
(Unaudited)
|
||||||||||||||||
|
Gross Profit
|
97,671
|
131,873
|
181,755
|
246,753
|
||||||||||||
|
Amortization of acquired intangibles included in cost of revenue
|
2,198
|
3,574
|
4,395
|
7,149
|
||||||||||||
|
Non-GAAP gross profit
|
99,869
|
135,447
|
186,150
|
253,902
|
||||||||||||
Global-E Online Ltd.
RECONCILIATION TO ADJUSTED EBITDA
(In thousands)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||
|
(Unaudited)
|
||||||||||||||||
|
Net profit (loss)
|
10,491
|
47,723
|
(7,365
|
)
|
78,078
|
|||||||||||
|
Income tax (benefit) expenses
|
1,000
|
1,667
|
1,541
|
2,830
|
||||||||||||
|
Financial expenses (income), net
|
(978
|
)
|
(4,711
|
)
|
(2,848
|
)
|
(3,257
|
)
|
||||||||
|
Stock-based compensation:
|
||||||||||||||||
|
Cost of revenue
|
254
|
304
|
520
|
559
|
||||||||||||
|
Research and development
|
4,501
|
4,545
|
8,128
|
8,993
|
||||||||||||
|
Selling and marketing
|
1,633
|
1,641
|
3,070
|
3,261
|
||||||||||||
|
General and administrative
|
3,670
|
4,542
|
7,133
|
8,169
|
||||||||||||
|
Total stock-based compensation
|
10,058
|
11,032
|
18,851
|
20,982
|
||||||||||||
|
Depreciation and amortization
|
571
|
610
|
1,107
|
1,215
|
||||||||||||
|
Commercial agreement asset amortization
|
12,927
|
-
|
49,944
|
531
|
||||||||||||
|
Amortization of acquired intangibles
|
4,402
|
5,978
|
8,804
|
11,956
|
||||||||||||
|
Merger related contingent consideration
|
-
|
125
|
-
|
248
|
||||||||||||
|
Adjusted EBITDA
|
38,471
|
62,424
|
70,034
|
112,583
|
||||||||||||
Global-E Online Ltd.
RECONCILIATION TO FREE CASH FLOW
(In thousands)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
Net cash (used in) provided by operating activities
|
64,956
|
73,638
|
(7,091
|
)
|
1,084
|
|||||||||||
|
Purchase of property and equipment
|
(1,440
|
)
|
(452
|
)
|
(1,988
|
)
|
(813
|
)
|
||||||||
|
Free Cash Flow
|
63,516
|
73,186
|
(9,079
|
)
|
271
|
|||||||||||
Global-E Online Ltd.
RECONCILIATION TO NON-GAAP NET PROFIT AND NON-GAAP NET PROFIT PER SHARE
(In thousands)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2025
|
2026
|
2025
|
2026
|
|||||||||||||
|
(Unaudited)
|
||||||||||||||||
|
Net profit (loss)
|
$
|
10,491
|
$
|
47,723
|
$
|
(7,365
|
)
|
$
|
78,078
|
|||||||
|
Stock-based compensation
|
10,058
|
11,032
|
18,851
|
20,982
|
||||||||||||
|
Commercial agreement asset amortization
|
12,927
|
-
|
49,944
|
531
|
||||||||||||
|
Amortization of acquired intangibles
|
4,402
|
5,978
|
8,804
|
11,956
|
||||||||||||
|
Merger related to contingent consideration
|
-
|
125
|
-
|
248
|
||||||||||||
|
Non-GAAP net profit
|
$
|
37,878
|
$
|
64,858
|
$
|
70,234
|
$
|
111,795
|
||||||||
|
|
||||||||||||||||
|
Non-GAAP net profit per share, basic
|
$
|
0.22
|
$
|
0.39
|
$
|
0.41
|
$
|
0.67
|
||||||||
|
Non-GAAP net profit per share, diluted
|
$
|
0.22
|
$
|
0.37
|
$
|
0.40
|
$
|
0.64
|
||||||||
|
Weighted-average shares used in computing Non-GAAP net profit per share attributable to ordinary shareholders, basic
|
169,788,923
|
167,537,484
|
169,569,068
|
167,896,222
|
||||||||||||
|
Weighted-average shares used in computing Non-GAAP net profit per share attributable to ordinary shareholders, diluted
|
175,588,437
|
175,124,595
|
175,578,104
|
175,201,559
|
||||||||||||