From GlobeNewswire: 2024-11-20 07:00:00

Global-e Online Ltd. reported strong Q3 2024 financial results with a 35% year-over-year growth in Gross Merchandise Value (GMV) reaching $1,134 million. Revenue increased by 32% year-over-year to $176 million, with a Non-GAAP gross profit of $82.3 million, up by 39% year-over-year. Adjusted EBITDA for Q3 was $31.1 million, showing growth from the previous year. The company onboarded new merchants globally, including luxury brands and sports clubs. They also expanded partnerships and capabilities, aiming for continued growth.

Global-e introduced Q4 and full-year guidance, with GMV expected to be $1,615-$1,685 million in Q4 and $4,760-$4,830 million for the full year. Revenue is projected to be $243.0-$255.0 million in Q4 and $732.9-$744.9 million for the full year. Adjusted EBITDA is anticipated to be $51.5-$57.5 million in Q4 and $135.2-$141.2 million for the full year. The company’s strong performance reflects its position as a leader in global Direct-To-Consumer eCommerce enablement.

Global-e’s non-GAAP financial measures include Gross Merchandise Value (GMV), Non-GAAP gross profit, and Adjusted EBITDA to assess performance and make strategic decisions. The company’s end-to-end ecommerce solutions have enabled over 1,000 brands and retailers to sell internationally, offering localized shopping experiences to online shoppers in over 200 destinations. The company’s focus on growth, partnerships, and innovation has positioned it as a key player in the global eCommerce market.

The company’s consolidated balance sheets show total assets of $1,202,360 thousand and total liabilities of $300,381 thousand, with shareholders’ equity of $901,979 thousand. The consolidated statements of operations for Q3 2024 reflect revenue of $175,971 thousand and an operating loss of $21,032 thousand. Adjusted EBITDA for the period was $31,059 thousand, demonstrating the company’s financial performance and growth trajectory. The selected other data highlights key performance metrics, revenue by category and merchant outbound region, providing insights into Global-e’s operational and financial performance.

Global-e’s reconciliation to Non-GAAP gross profit and Adjusted EBITDA shows adjustments made for stock-based compensation, depreciation, amortization of acquired intangibles, and other factors. These metrics provide a clearer picture of the company’s financial health and operational efficiency. The company’s focus on transparency and accountability is evident in its detailed financial reporting and commitment to non-GAAP financial measures.



Read more at GlobeNewswire:: Global-e Reports Third Quarter 2024 Results