Global-e Q1: Sales Up 30%, GMV Soars 34%, Extends Strategic Partnership With Shopify

Global-E Online Ltd. GLBE shares are trading lower after the company reported its first-quarter FY25 results.

Sales grew 30% year over year (Y/Y) to $189.9 million, beating the analyst consensus estimate of $187.87 million. Gross Merchandise Value (GMV) rose 34% Y/Y to $1.24 billion in the quarter.

The company reported $84.0 million in service fees and $105.9 million in fulfillment services revenue in the quarter.

Non-GAAP gross profit increased to $86.3 million (+31% Y/Y), and non-GAAP gross margin expanded 10 basis points Y/Y to 45.4%.

Adjusted EBITDA rose to $31.6 million from $21.3 million a year ago. The company's operating loss narrowed to $19.2 million from $29.3 million.

Loss per share was $0.11, beating the consensus loss of $0.13.

Outlook: For the second quarter, Global-e Online projects GMV of $1.387 billion – $1.427 billion and revenue of $204 million to $211 million vs. $209.63 million estimate.

The company reiterated its FY25 guidance for GMV at $6.190 billion – $6.490 billion and revenue at $917 million – $967 million vs. the consensus of $931.39 million.

“We had another quarter of strong results, demonstrating our ability to grow fast even within macroeconomic turbulent times with Q1 results coming in at or above the midpoints across our guidance,” founder and CEO Amir Schlachet said.

”While the market remains volatile with a higher level of uncertainty given the ongoing global duty tariff dynamics, our pipeline is very active and we see increased interest in our services.”

In a separate release, the company disclosed a new 3-year strategic partnership agreement with Shopify Inc. SHOP which extends the companies’ existing long-term strategic partnership for both their first-party (1P, i.e., Shopify Managed Markets) and third-party (3P) solutions.

Investors can gain exposure to the stock via Amplify ETF Trust Amplify BlueStar Israel Technology ETF ITEQ and First Trust Exchange-Traded Fund VIII FT Raymond James Multicap Growth Equity ETF RJMG.

Price Action: At the last check on Wednesday, GLBE shares were trading lower by 14.60% at $36.20 premarket.

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