Workflow
Global-E(GLBE)
icon
Search documents
Global-e to Announce Financial Results for the First Quarter 2024 on May 20, 2024
Newsfilter· 2024-05-06 20:06
PETAH-TIKVA, Israel, May 06, 2024 (GLOBE NEWSWIRE) -- Global-e Online Ltd. (Nasdaq: GLBE) the leader of global Direct-To-Consumer ecommerce enablement, today announced it will report financial results for the first quarter ended March 31, 2024, before market open on Monday, May 20, 2024. Global-e management will host a conference call to review its financial results and outlook. Date: Monday, May 20, 2024 Time: 8:00 a.m. ET United States/Canada Toll Free: 1-888-886-7786 International Toll: +1-416-764-8658 P ...
Global-e to Announce Financial Results for the First Quarter 2024 on May 20, 2024
Globenewswire· 2024-05-06 20:06
PETAH-TIKVA, Israel, May 06, 2024 (GLOBE NEWSWIRE) -- Global-e Online Ltd. (Nasdaq: GLBE) the leader of global Direct-To-Consumer ecommerce enablement, today announced it will report financial results for the first quarter ended March 31, 2024, before market open on Monday, May 20, 2024. Global-e management will host a conference call to review its financial results and outlook. Date:Monday, May 20, 2024Time:8:00 a.m. ETUnited States/Canada Toll Free:1-888-886-7786International Toll:+1-416-764-8658   Please ...
Global-E(GLBE) - 2023 Q4 - Annual Report
2024-03-28 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 O ...
Global-E(GLBE) - 2024 Q1 - Quarterly Report
2024-02-20 16:00
Exhibit 99.1 Global-E Reports Fourth Quarter and Full Year 2023 Results PETAH-TIKVA, Israel, February 21st , 2024 - Global-e Online Ltd. (Nasdaq: GLBE) the global leader of Direct-To-Consumer cross border ecommerce enablement, today announced financial results for the fourth quarter of 2023 and full year 2023 as well as outlook for the first quarter and the full year 2024. "We are pleased with the record fourth quarter and full year results, delivering 45% annual growth in GMV, 39% growth in revenues, and 9 ...
Global-E(GLBE) - 2023 Q4 - Annual Report
2023-11-14 16:00
[Financial & Business Highlights](index=1&type=section&id=Financial%20%26%20Business%20Highlights) Global-e reported strong Q3 2023 results, showing significant growth in GMV, revenue, and Adjusted EBITDA, alongside key business developments Q3 2023 Financial Highlights (YoY) | Metric | Q3 2023 | Q3 2022 | % Change | | :--- | :--- | :--- | :--- | | GMV | $839 million | - | 35% | | Revenue | $133.6 million | - | 27% | | Non-GAAP Gross Profit | $59.3 million | - | 36% | | Non-GAAP Gross Margin | 44.4% | 41.5% | +290 bps | | Adjusted EBITDA | $22.1 million | $12.5 million | 76% | | Net Loss (GAAP) | ($33.1 million) | - | - | - The CEO attributed the strong results to the robustness of the business model and highlighted the immense greenfield opportunity ahead, particularly with the launch of Shopify Markets Pro[4](index=4&type=chunk) - Key business developments in Q3 2023 included **new merchant onboarding** (Ted Baker, Tory Burch), **expanded partnerships** (LVMH, Richemont), **Shopify Markets Pro general availability** in the US, and a **new integration with Wix Commerce**[7](index=7&type=chunk) [Financial Outlook](index=2&type=section&id=Q4%20and%20Full%20Year%20Outlook) Global-e provided financial guidance for Q4 and updated its full-year 2023 outlook, projecting GMV, revenue, and an upwardly revised Adjusted EBITDA Q4 2023 and Full Year 2023 Guidance (in millions) | Metric | Q4 2023 Guidance | FY 2023 Guidance | Previous FY 2023 Guidance | | :--- | :--- | :--- | :--- | | GMV | $1,125 - $1,175 | $3,493 - $3,543 | $3,480 - $3,640 | | Revenue | $178 - $186 | $563 - $571 | $570 - $596 | | Adjusted EBITDA | $31.5 - $36.5 | $89.1 - $94.1 | $85 - $93 | [Financial Statements](index=5&type=section&id=Financial%20Statements) The consolidated financial statements detail Global-e's financial position and performance, showing total assets of $1.12 billion and a Q3 net loss of $33.1 million [Consolidated Balance Sheets](index=5&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) Global-e's balance sheet as of September 30, 2023, reported total assets of $1.12 billion, with liabilities at $210.3 million and equity at $908.2 million Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 (Unaudited) | Dec 31, 2022 (Audited) | | :--- | :--- | :--- | | Cash and cash equivalents | $145,824 | $165,033 | | Total current assets | $400,581 | $374,652 | | Total assets | $1,118,468 | $1,162,600 | | Total current liabilities | $188,600 | $209,580 | | Total liabilities | $210,299 | $234,479 | | Total shareholders' equity | $908,169 | $928,121 | [Consolidated Statements of Operations](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For Q3 2023, Global-e reported a 27% revenue increase to $133.6 million, gross profit growth to $56.5 million, and a narrowed net loss of $33.1 million Statement of Operations Highlights (in thousands, except per share data) | Metric | Q3 2023 (Unaudited) | Q3 2022 (Unaudited) | Nine Months 2023 (Unaudited) | Nine Months 2022 (Unaudited) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $133,605 | $105,556 | $384,545 | $269,184 | | Gross Profit | $56,516 | $40,802 | $157,282 | $102,336 | | Operating Loss | ($35,601) | ($53,231) | ($114,004) | ($154,217) | | Net Loss | ($33,091) | ($64,551) | ($111,707) | ($166,934) | | Net Loss Per Share | ($0.20) | ($0.41) | ($0.68) | ($1.07) | [Consolidated Statements of Cash Flows](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the nine months ended September 30, 2023, net cash from operating activities was $14.7 million, with net cash used in investing activities significantly lower at $44.3 million Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Cash Flow Activity | 2023 (Unaudited) | 2022 (Unaudited) | | :--- | :--- | :--- | | Net cash provided by operating activities | $14,728 | $32,055 | | Net cash used in investing activities | ($44,336) | ($343,901) | | Net cash provided by financing activities | $1,747 | $1,097 | | Net decrease in cash | ($28,971) | ($322,043) | | Cash at end of period | $182,551 | $136,856 | [Key Metrics and Non-GAAP Reconciliations](index=8&type=section&id=Key%20Metrics%20and%20Non-GAAP%20Reconciliations) This section details key operating metrics, including a 35% GMV growth and 50% revenue from US merchants, alongside reconciliations to non-GAAP measures like gross profit and Adjusted EBITDA [Key Performance Metrics & Revenue Breakdown](index=8&type=section&id=Key%20Performance%20Metrics%20%26%20Revenue%20Breakdown) In Q3 2023, GMV increased 35% to $839.1 million, with fulfillment services accounting for 53% of revenue and US-based merchants contributing 50% of total revenue Key Performance Metrics (in thousands) | Metric | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Gross Merchandise Value | $839,056 | $621,011 | | Adjusted EBITDA | $22,093 | $12,537 | Revenue by Merchant Outbound Region (Q3) | Region | 2023 Revenue % | 2022 Revenue % | | :--- | :--- | :--- | | United States | 50% | 46% | | United Kingdom | 31% | 34% | | European Union | 16% | 17% | | Other | 3% | 3% | [Non-GAAP Reconciliations](index=9&type=section&id=Non-GAAP%20Reconciliations) The company provides reconciliations from GAAP to non-GAAP measures, showing Q3 2023 Non-GAAP gross profit of $59.3 million and Adjusted EBITDA of $22.1 million after various adjustments Reconciliation to Non-GAAP Gross Profit (Q3, in thousands) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Gross Profit (GAAP) | $56,516 | $40,802 | | Amortization of acquired intangibles | $2,796 | $2,951 | | **Non-GAAP gross profit** | **$59,312** | **$43,753** | Reconciliation to Adjusted EBITDA (Q3, in thousands) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Operating loss (GAAP) | ($35,601) | ($53,231) | | Stock-based compensation | $11,716 | $9,025 | | Commercial agreement asset amortization | $37,433 | $37,432 | | Amortization of acquired intangibles | $5,092 | $8,695 | | Other adjustments | $3,453 | $10,195 | | **Adjusted EBITDA** | **$22,093** | **$12,537** | [Supplementary Information](index=2&type=section&id=Supplementary%20Information) This section provides administrative and legal information, including non-GAAP measure definitions, a safe harbor statement, and a corporate overview of Global-e's leading cross-border e-commerce platform - The company uses non-GAAP measures such as **Non-GAAP gross profit** and **Adjusted EBITDA** to assess performance, evaluate business strategies, and communicate with its board[12](index=12&type=chunk)[16](index=16&type=chunk) - The report contains forward-looking statements subject to risks and uncertainties, and readers are cautioned not to put undue reliance on these statements[17](index=17&type=chunk) - Global-e is the **world's leading platform for D2C cross-border e-commerce**, enabling **over 1,000 brands** to sell internationally by providing a seamless, localized shopping experience in **over 200 destinations**[18](index=18&type=chunk)
Global-E(GLBE) - 2023 Q2 - Earnings Call Transcript
2023-08-08 14:53
Global-e Online Ltd. (NASDAQ:GLBE) Q2 2023 Earnings Call Transcript August 8, 2023 8:00 AM ET Company Participants Erica Mannion - Sapphire, IR Amir Schlachet - Co-Founder, CEO Ofer Koren - CFO Nir Debbi - Co-Founder, President Conference Call Participants Brian Peterson - Raymond James Brent Bracelin - Piper Sandler Samad Samana - Jefferies James Faucette - Morgan Stanley Scott Berg - Needham Madison Schrage - KeyBanc Matt Code - Autonomous Research Mark Zgutowicz - Benchmark Operator Welcome to the Global ...
Global-E(GLBE) - 2023 Q3 - Quarterly Report
2023-08-07 16:00
Exhibit 99.1 Global-e Reports Second Quarter 2023 Results PETAH-TIKVA, Israel, August 8, 2023 - Global-e Online Ltd. (Nasdaq: GLBE) the global leader of Direct-To-Consumer cross border eCommerce enablement, today reported financial results for the second quarter of 2023. "The results of the second quarter of 2023, together with the updated guidance for the remainder of the year, illustrate the continued strong momentum of our business, as evident from both top-line growth, improved profitability and new cli ...
Global-E(GLBE) - 2023 Q1 - Earnings Call Transcript
2023-05-22 14:46
Global-e Online Ltd. (NASDAQ:GLBE) Q1 2023 Earnings Conference Call May 22, 2023 8:00 AM ET Company Participants Erica Mannion - Sapphire, IR Amir Schlachet - Co-Founder, CEO Ofer Koren - CFO Nir Debbi - Co-Founder, President Conference Call Participants Will Nance - Goldman Sachs Koji Ikeda - Bank of America James Faucette - Morgan Stanley Samad Samana - Jefferies Brian Peterson - Raymond James Josh Beck - KeyBanc Hannah Rudoff - Piper Sandler Matt Code - Autonomous Research Operator Greetings, and welcome ...
Global-E(GLBE) - 2023 Q2 - Quarterly Report
2023-05-21 16:00
Exhibit 99.1 Global-e Reports First Quarter 2023 Results PETAH-TIKVA, Israel, May 22, 2023 - Global-e Online Ltd. (Nasdaq: GLBE) the global leader of Direct-To-Consumer cross border eCommerce enablement, today reported financial results for the first quarter of 2023. "The Global-e team is off to a great start for the year, with very strong performance across the board, many new merchants going live all around the globe, and many existing merchants expanding their business with us," said Amir Schlachet, Foun ...
Global-E(GLBE) - 2022 Q4 - Annual Report
2023-03-30 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 O ...