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Global-E Online Ltd. (Nasdaq: GLBE) is recognized as the world's leading platform for enabling and accelerating direct-to-consumer cross-border e-commerce. Partnering with over 1,000 prominent brands and retailers across the United States, Europe, and Asia, Global-E offers innovative solutions that transform the complexities of international e-commerce into a seamless and localized shopping experience for customers in over 200 destinations worldwide.
The company's platform is designed to enhance the global sales capabilities of merchants by providing a deeply localized customer experience, which includes support for 95+ local currencies, 50+ payment methods, multilingual checkout, and multiple shipping options with unbeatable rates. Furthermore, Global-E offers convenient domestic returns from 30 worldwide locations and local duty and tax calculations with the option for prepayment, ensuring a transparent and straightforward shopping journey for international customers.
Global-E's business model is fortified by its unique, technology-driven approach that combines best-in-class localization capabilities, big-data business intelligence, streamlined international logistics, and extensive cross-border expertise. This approach not only removes barriers to converting international visitors into customers but also significantly boosts global sales for merchants.
Financially, Global-E continues to demonstrate robust performance. For instance, in the third quarter of 2023, the company reported top-line growth, improved profitability, and a healthy pipeline, reflecting the strength of its business model. The company's strong performance was further highlighted during the Black Friday/Cyber Monday weekend in 2023, where it saw a record 53% increase in sales compared to the previous year.
Additionally, Global-E's strategic partnerships, such as the recent collaboration with Wix.com Ltd., a leading SaaS website builder platform, underscore the company's commitment to expanding its reach and capabilities. This partnership allows Wix merchants to access Global-E's advanced international selling solutions, thereby enhancing their global market presence.
Global-E's ability to adapt to market conditions and its ongoing innovation in e-commerce solutions position the company for continued growth. Despite the volatility in consumer sentiment and macroeconomic uncertainties, the company remains optimistic about its long-term prospects and is well-prepared to maintain its trajectory of durable and profitable growth.
Global-e (NASDAQ: GLBE) has been selected by Victoria's Secret to enhance their international e-commerce operations. The partnership will strengthen Victoria's Secret's online presence in key markets like Canada, Germany, and France, while enabling localized shopping experiences across over 100 markets globally.
The collaboration provides Victoria's Secret customers with local currency pricing, various payment options, guaranteed final purchase costs, and enhanced delivery services. Global-e's platform offers localization in over 30 languages, supports over 100 currencies, and provides over 150 local payment methods, along with tax calculation, shipping options, and returns management.
Global-e (NASDAQ: GLBE) reported a 43% year-over-year increase in sales during the Black Friday-Cyber Monday (BFCM) weekend of 2024. The company saw strong growth across multiple markets including Germany, France, UK, Canada, US, UAE, Japan, and Australia. E-commerce sales through Global-e's platforms during the promotional season, including two weeks prior to BFCM, grew by 45% compared to last year. Black Friday dominated with 33% of total BFCM weekend sales, while Cyber Monday accounted for 23%. Sales momentum began building in early November, with promotions running throughout the month.
Global-e Online (GLBE) reported strong Q3 2024 results with significant growth metrics. GMV reached $1,134 million, up 35% year-over-year, while revenue increased 32% to $176 million. The company's non-GAAP gross profit grew 39% to $82.3 million, with margins improving to 46.8%. Despite these gains, the company recorded a net loss of $22.6 million. Notable business highlights include onboarding major brands like Harrods, Torrid, and Manchester United. Based on strong performance, Global-e raised its full-year 2024 guidance, projecting GMV between $4,760-$4,830 million and revenue of $732.9-$744.9 million.
Global-e (NASDAQ: GLBE) has announced a partnership with luxury department store Harrods to enhance its international online operations. The collaboration will enable Harrods to strengthen its e-commerce strategy across 200+ markets worldwide. Through Global-e's platform, Harrods will offer customers localized shopping experiences including local currency pricing, various payment methods, optimized shipping options, and simplified tax calculations. The partnership aims to combine Harrods' reputation for excellence with Global-e's expertise in international e-commerce operations and data-driven market insights.
Global-e Online (Nasdaq: GLBE) has announced it will release its third quarter 2024 financial results on Wednesday, November 20, 2024, before market open. The company will host a conference call at 8:00 AM ET to discuss the results and outlook. Investors can join via toll-free numbers for US/Canada (+1-800-717-1738) or international (+1-646-307-1865). A live webcast will be available on Global-e's investor relations website, with a replay accessible for approximately 30 days after the call.
Global-e Online (Nasdaq: GLBE) reported strong Q2 2024 financial results, with GMV reaching $1,082 million, a 31% year-over-year increase. Revenue grew 26% to $168 million, while non-GAAP gross profit increased 39% to $80.2 million. The company's non-GAAP gross margin improved by 450 basis points to 47.8%. Adjusted EBITDA rose to $31.3 million from $21.0 million in Q2 2023.
Global-e continued to onboard new merchants globally and expand partnerships with existing ones. The company's strategic partnership with Shopify progressed well, with the migration of historical merchants to the new native integration nearly complete. For Q3 2024, Global-e expects GMV between $1,070 - $1,110 million and revenue of $165.7 - $171.7 million. The company updated its full-year 2024 guidance, projecting GMV of $4,605 - $4,845 million and revenue of $710 - $750 million.
Global-e Online (Nasdaq: GLBE), a leader in global Direct-To-Consumer eCommerce enablement, has announced it will release its financial results for the second quarter ended June 30, 2024, on Wednesday, August 14, 2024, before the market opens. The company will host a conference call to discuss these results and provide an outlook on the same day at 8:00 a.m. ET.
Interested parties can join the call via phone or listen to a live webcast available on Global-e's Investor Relations website. A replay of the webcast will be accessible on the same platform for approximately 30 days following the call.
Global-e Online (NASDAQ: GLBE), a leader in Direct-To-Consumer global eCommerce enablement, has promoted Tomer Gold to EVP, Head of the Channels and SMB Division, and Siddharth Jain to EVP, Technology of the Channels and SMB Division. Tomer Gold, previously VP of Corporate Development, has a strong background in finance and business strategy, including a notable stint at Goldman Sachs. Siddharth Jain, who previously served as SVP of Engineering, has been important in driving technological advancements within the company. These promotions come as Rob Keve and Michael Bryzek, former leaders of the Channels and SMB Division, depart. Global-e’s CEO, Amir Schlachet, and President, Nir Debbi, expressed confidence in the new appointees’ abilities to advance the company’s strategic goals and maintain its leadership in the global e-commerce market.
Global-e Online (Nasdaq: GLBE) reported strong financial results for Q1 2024, highlighted by a 32% YoY increase in GMV to $930 million and a 24% YoY increase in revenue to $145.9 million. The company's non-GAAP gross profit rose by 36% YoY to $66.1 million, and the adjusted EBITDA reached $21.3 million, compared to $14.5 million in Q1 2023. Despite these gains, Global-e faced a net loss of $32.1 million, an improvement from the previous year's $43.1 million loss. The company added numerous clients across various geographies and sectors and continued its strategic partnership with Shopify, raising its full-year guidance.
Global-e Online (Nasdaq: GLBE) will release its financial results for the first quarter ended March 31, 2024, on May 20, 2024. The company, a global leader in Direct-To-Consumer ecommerce enablement, will host a conference call to discuss the results and outlook.
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