Global-e Reports First Quarter 2025 Results

Core Insights - Global-e Online Ltd. reported strong financial results for Q1 2025, with significant growth in key metrics despite macroeconomic challenges [2][5][18] Financial Results - Gross Merchandise Value (GMV) for Q1 2025 was $1,243 million, representing a 34% increase year over year [5] - Revenue for Q1 2025 reached $189.9 million, a 30% increase year over year, with service fees contributing $84.0 million and fulfillment services $105.9 million [5] - Non-GAAP gross profit for Q1 2025 was $86.3 million, up 31% year over year, while GAAP gross profit was $84.1 million [5] - Non-GAAP gross margin for Q1 2025 was 45.4%, slightly up from 45.3% in Q1 2024, and GAAP gross margin was 44.3% [5] - Adjusted EBITDA for Q1 2025 was $31.6 million, compared to $21.3 million in Q1 2024 [5] - The net loss for Q1 2025 was $17.9 million, an improvement from a net loss of $32.1 million in Q1 2024 [5] Business Highlights - The company announced a new 3-year strategic partnership agreement with Shopify, enhancing their long-standing relationship [5] - Global-e launched a new 3B2C offering to help merchants manage pricing in key markets without extensive local setups [5] - The Merchant Portal was revamped to include new self-service business intelligence tools, improving merchant access to sales data [5] - The company expanded its merchant base across various regions, including new launches in Europe and APAC [5] Outlook - For Q2 2025, Global-e expects GMV between $1,387 million and $1,427 million and revenue between $204 million and $211 million [6] - The full-year guidance remains unchanged, with expected GMV between $6,190 million and $6,490 million and revenue between $917 million and $967 million [6]