Global-E Online Shares Pop On Solid Q1, FY22 Outlook

Global-E Online Ltd GLBE reported fourth-quarter FY21 sales growth of 54% year-on-year, to $82.7 million, beating the consensus of $77.63 million.
Gross Merchandise Value (GMV) rose 66% Y/Y to $505 million.
Revenue from Service fees grew by 73.4%, and Fulfillment services increased by 42.6%.
The gross profit increased 81.7% Y/Y to $32.6 million, and the gross margin expanded 600 basis points Y/Y to 39.5%.
The company incurred an operating loss of $(22.2) million. Adjusted EBITDA of $11.8 million increased 63.8% Y/Y.
Loss per share was $(0.15), versus $0.03 last year.
The company held over $509 million in cash and equivalents as of December 31, 2021.
Outlook: Global-E Online sees Q1 sales of $74.5 million - $76.5 million, above the consensus of $64.01 million.
For FY22, the company sees revenue of $411 million – $421 million, above the consensus of $367.06 million.
Price Action: GLBE shares are trading higher by 16.4% at $42.95 in premarket on the last check Thursday.

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