Global-E Online (GLBE) Company Report

Analyst Coverage

Research analysts who have asked questions during Global-E Online earnings calls.

Koji Ikeda

Bank of America

8 questions for GLBE

Also covers: ADSK, AMPL, BL +24 more

James Faucette

Morgan Stanley

7 questions for GLBE

Also covers: ACN, ADP, AFRM +29 more

Samad Samana

Jefferies

7 questions for GLBE

Also covers: ADP, ALRM, AUDC +21 more

Patrick Walravens

Citizens JMP

6 questions for GLBE

Also covers: AI, ALKT, ASAN +26 more

Brian Peterson

Raymond James Financial

5 questions for GLBE

Also covers: BIGC, BLKB, BOX +20 more

Mark Zgutowicz

The Benchmark Company

5 questions for GLBE

Also covers: CART, CRTO, DASH +7 more

Scott Berg

Needham & Company, LLC

5 questions for GLBE

Also covers: AMPL, BILL, BRZE +24 more

Will Nance

Goldman Sachs

5 questions for GLBE

Also covers: AFRM, AMTD, CHYM +19 more

Andrew Bauch

Wells Fargo & Company

4 questions for GLBE

Also covers: AFRM, AVDX, FLYW +9 more

Chris Zhang

UBS

4 questions for GLBE

Also covers: BIGC, IMXI

Brent Bracelin

Piper Sandler Companies

3 questions for GLBE

Also covers: ADBE, AMPL, ASAN +20 more

Chao Zhang

Barclays

3 questions for GLBE

Also covers: GDDY, IMXI

Matthew O'Neill

Financial Technology Partners

3 questions for GLBE

Also covers: AFRM, EFX, ETOR +7 more

Billy Fitzsimmons

Piper Sandler

2 questions for GLBE

Also covers: AMPL, FIG

Brian Petersen

Raymond James & Associates, Inc.

2 questions for GLBE

Christopher Zhang

UBS

2 questions for GLBE

John Messina

Raymond James

2 questions for GLBE

Also covers: PCTY, WK

Madison Schrage

KeyBanc Capital Markets

2 questions for GLBE

Also covers: BIGC

Mark Sokotovic

Benchmark

2 questions for GLBE

Patrick Wolfsen

Citizens Bank

2 questions for GLBE

Robert Wildhack

Autonomous Research

2 questions for GLBE

Also covers: AFRM, ALLY, AXP +7 more

Rob Waha

Autonomous Research LLP

2 questions for GLBE

William Nance

The Goldman Sachs Group, Inc.

2 questions for GLBE

Also covers: AFRM, AMTD, AVDX +20 more

George McGreehan

Bank of America

1 question for GLBE

Also covers: AMPL, ESTC, FROG +3 more

Hannah Rudoff

Piper Sandler Companies

1 question for GLBE

Also covers: BASE, MB, TTAN +1 more

Jeremy

Jefferies

1 question for GLBE

Maddie Schrage

KeyBanc Capital Markets

1 question for GLBE

Also covers: BIGC, CMRC, VTEX

Michael

TD Cowen

1 question for GLBE

Also covers: AKBA, AMRN, APH +5 more

Latest news

Recent press releases and 8-K filings for GLBE.

Global-e Online Reports Record Q4 and Full-Year 2025 Results, Provides Strong 2026 Guidance

GLBE

Earnings

Guidance Update

New Projects/Investments

Global-e Online (GLBE) reported record Q4 2025 results, with GMV reaching $2.36 billion (up 37% year-over-year) and revenue at $337 million (up 28% year-over-year). For the full year 2025, GMV was approximately $6.57 billion (up 35%) and revenue was $962 million (up 28%).
Adjusted EBITDA for Q4 2025 increased 53% year-over-year to $87.2 million, achieving a 25.9% margin, while full-year 2025 Adjusted EBITDA grew 41% to $198.5 million with a 20.6% margin. The company also achieved GAAP profitability for the full year 2025.
For 2026, Global-e Online anticipates revenue between $1.21 billion and $1.27 billion, representing an acceleration of growth to 29% at the midpoint, marking the first year exceeding $1 billion in revenue. Adjusted EBITDA is projected to be between $259 million and 294 million, with an expanded 21.9% margin at the midpoint.
The company is heavily integrating AI across its operations, driving efficiencies in R&D (with a 70 basis point reduction in R&D spend as a percentage of revenues in 2025) and significantly enhancing sales efforts, which is expected to contribute to Adjusted EBITDA margin expansion.
Global-e Online repurchased 1.8 million shares for $72 million in Q4 2025, with $128 million remaining on its repurchase plan.

Feb 18, 2026, 1:00 PM

Transcript

Global-e Online Announces Record Q4 and Full-Year 2025 Results, Provides Strong 2026 Guidance

GLBE

Earnings

Guidance Update

Revenue Acceleration/Inflection

Global-e Online reported a record-breaking 2025, surpassing guidance with full-year revenue of $962 million (up 28%) and Adjusted EBITDA of $198.5 million (up 41%, 20.6% margin), achieving GAAP profitability for the full year.
For Q4 2025, the company recorded GMV of $2.36 billion (up 37%), revenue of $337 million (up 28%), and Adjusted EBITDA of $87.2 million (up 53%, 25.9% margin).
GLBE provided 2026 guidance, projecting full-year revenue between $1.21 billion and $1.27 billion (29% growth at midpoint) and Adjusted EBITDA between $259 million and $294 million (21.9% margin at midpoint), reflecting an acceleration in revenue and margin expansion.
The company is heavily investing in and leveraging AI to drive efficiencies in R&D, optimize sales, and enhance services, which is expected to contribute significantly to Adjusted EBITDA margin expansion through 2028.
GLBE ended 2025 with $623 million in cash and cash equivalents and repurchased 1.8 million shares for $72 million in Q4 2025, with $128 million remaining on its repurchase plan.

Feb 18, 2026, 1:00 PM

Transcript

Global-e Online Reports Record Q4 and Full Year 2025 Results, Provides Strong 2026 Outlook

GLBE

Earnings

Guidance Update

Revenue Acceleration/Inflection

GLBE reported record Q4 2025 results with GMV of $2.36 billion, up 37% year-on-year, and revenue of $337 million, up 28% year-on-year. For the full year 2025, GMV reached $6.57 billion (up 35%), revenue was $962 million (up 28%), and Adjusted EBITDA grew 41% to $198.5 million, achieving a 20.6% margin. The company also achieved GAAP profitability for the first full year with a GAAP EPS of $0.39.
The company provided strong 2026 guidance, anticipating full-year GMV between $8.45 billion and $8.80 billion (over 31% growth at midpoint) and revenue between $1.21 billion and $1.27 billion, representing an acceleration of the growth rate to 29% at the midpoint. Adjusted EBITDA is projected to be between $259 million and $294 million, with a 21.9% margin at the midpoint.
Global-e is ahead of its multi-year strategic plan, driven by strong performance including a Net Dollar Retention (NDR) rate of 122% and Gross Dollar Retention (GDR) rate of 96% for 2025. The company is actively integrating AI across operations, R&D, and new offerings like full site localization, contributing to efficiencies and expected Adjusted EBITDA margin expansion through 2028.
In Q4 2025, Global-e completed $72 million in share repurchases as part of its share buyback program.

Feb 18, 2026, 1:00 PM

Transcript

Global-e Reports Record Q4 and Full Year 2025 Results, Issues 2026 Guidance

GLBE

Earnings

Guidance Update

Share Buyback

Global-e reported record fourth quarter and full year results for 2025, with Q4 revenue reaching $336.7 million (up 28% year-over-year) and full year revenue at $962.2 million (up 28% year-over-year).
Adjusted EBITDA for Q4 2025 increased 53% year-over-year to $87.2 million, and full year 2025 Adjusted EBITDA grew 41% year-over-year to $198.5 million.
The company issued guidance for FY 2026, projecting revenue between $1,211 million and $1,271 million and Adjusted EBITDA between $259 million and $284 million.
Global-e completed $72 million of share repurchases in Q4 2025.

Feb 18, 2026, 12:00 PM

6-K

Global-e Reports Record Fourth Quarter and Full Year 2025 Results

GLBE

Earnings

Guidance Update

Share Buyback

Global-e Online Ltd. reported record Q4 2025 revenue of $336.7 million, an increase of 28% year over year, and Adjusted EBITDA of $87.2 million, up 53% year over year.
For the full year 2025, the company achieved revenue of $962.2 million, a 28% increase year over year, and Adjusted EBITDA of $198.5 million, up 41% year on year.
The company provided a positive outlook for FY 2026, forecasting revenue between $1,211 million and $1,271 million and Adjusted EBITDA between $259 million and $284 million, with anticipated revenue growth acceleration and significant bottom line margin expansion.
Global-e completed $72 million of share repurchases in Q4 2025.

Feb 18, 2026, 11:02 AM

Press Release

Global-e Discusses 2025 Performance, 2026 Priorities, and Shopify Agreement Changes at UBS Conference

GLBE

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Global-e (GLBE) enables international direct-to-consumer e-commerce for brands, providing an end-to-end localization suite, acting as Merchant of Record, and using data to achieve an average of 40%+ uplift in international conversion rates.
In 2025, Global-e experienced a relatively stable year with solid trading, driven by existing merchant growth and successful new merchant onboarding, including strong volumes during Black Friday Cyber Monday.
The company's go-to-market strategy has evolved, with over 50% of leads generated through channel partners and new initiatives leveraging AI for lead qualification and top-of-funnel generation.
For 2026, key priorities include continued expansion in APAC, optimizing solutions for tariff dynamics, the anticipated relaunch of Managed Markets V2, and a focus on bottom-line growth.
Changes to the Shopify agreement include a lower revenue share paid to Shopify on the 3P side, positively impacting Global-e's bottom line, and a revised P&L structure for Managed Markets V2 that is expected to have a slightly diluted but not significant impact on the bottom line.

Dec 3, 2025, 2:35 PM

Transcript

Global-e Discusses Strong 2025 Performance, 2026 Priorities, and Shopify Agreement Impact

GLBE

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Global-e reported a stable 2025 with solid trading, driven by existing merchant growth and successful new merchant onboarding, including strong volumes during the Black Friday Cyber Monday weekend.
For 2026, the company is prioritizing bottom-line growth and is on track to achieve its long-term targets. Strategic focus areas include expanding in APAC (Japan, South Korea, Australia, Hong Kong, Taiwan) and relaunching the Shopify Managed Markets V2.
Changes to the Shopify agreement are expected to have a positive impact on Global-e's bottom line due to a lower revenue share paid to Shopify for 3P merchants, already reflected in the Q4 guide. The Managed Markets V2 will have a slightly diluted but not significant bottom-line impact, representing approximately 4% of current GMV.
Longer-term, Global-e sees a 90% greenfield market opportunity, benefiting from secular trends in e-commerce, direct-to-consumer sales, and international growth, with Managed Markets having the potential to become a multi-billion-dollar GMV business.

Dec 3, 2025, 2:35 PM

Transcript

Global-E Discusses 2025 Performance, 2026 Priorities, and Long-Term Growth Strategy at UBS Conference

GLBE

New Projects/Investments

Revenue Acceleration/Inflection

Global-E reported a stable year with solid trading and good consumption behavior in 2025, driven by existing merchants and successful new merchant onboarding, including Aritzia.
The company's go-to-market strategy has evolved, with over 50% of leads generated through channel partners and new AI-based tools being deployed to accelerate top-of-funnel generation in a market estimated to be 90% greenfield.
For 2026, Global-E's priorities include expanding in APAC, optimizing merchant solutions (e.g., multi-local, tariff dynamics), and the relaunch of Shopify Managed Markets V2. The company aims to prioritize bottom-line growth and is on track to achieve its long-term targets.
Changes to the Shopify agreement will result in a lower revenue share payment to Shopify for 3P merchants, positively impacting Global-E's bottom line. For Managed Markets V2, the P&L structure will change, leading to a slightly diluted but not significantly impacted bottom line.

Dec 3, 2025, 2:35 PM

Transcript

Global-e Reports Strong Black Friday-Cyber Monday Sales Growth

GLBE

Revenue Acceleration/Inflection

Global-e (GLBE) reported a 36% year-over-year increase in sales over the 2025 Black Friday-Cyber Monday (BFCM) weekend.
E-commerce sales through Global-e's platforms during the extended promotional season, which began in early November and included BFCM, grew by 37% compared to the equivalent period last year.
This strong performance led Global-e to cross the milestone of $1 billion in GMV in a single month for the first time.
Black Friday (November 28th) accounted for 31% of total BFCM weekend sales, while Cyber Monday (December 1st) represented 22% of the weekend's activity.

Dec 2, 2025, 1:00 PM

Press Release

Global-e Reports Strong Q3 2025 Results and Raises Full-Year Guidance

GLBE

Earnings

Guidance Update

Share Buyback

Global-e reported strong Q3 2025 financial results, with GMV reaching $1.51 billion, a 33% year-over-year increase, and revenue of $220.8 million, up 25% year-over-year.
Adjusted EBITDA for Q3 2025 was $41.3 million, up 33% year-over-year, achieving an 18.7% margin, and GAAP net profit was $13.2 million. The company also generated $73.6 million in free cash flow, an increase of almost 250% compared to the prior year.
The company raised its full-year 2025 guidance across all metrics, now projecting GMV of approximately $6.46 billion, revenue of $952.1 million, and adjusted EBITDA of $192.8 million at their respective midpoints, representing 33%, 26.5%, and 37% growth rates for the year.
Global-e's board authorized a $200 million share repurchase program, with buybacks anticipated to begin in Q4 2025.
Strategic updates include significant progress on the Managed Markets solution with Shopify, currently in beta testing for a 2026 rollout, and the expansion of its duty drawback offering to U.S.-based merchants.