Global-e Online Turns To Profit In Q3, GMV Climbs; Issues Q4 View, Updates FY25 Outlook

Add as your preferred news source on Google Add Now Global-E Online Ltd. (GLBE) reported Wednesday a profit in its third quarter, compared to prior year's loss, amid higher revenues and Gross Merchandise Value or GMV. Further, the firm issued fourth-quarter outlook, and updated fiscal 2025 forecast.In pre-market activity on the Nasdaq, the shares were gaining around 2.7 percent to trade at $38.00.Looking ahead for the fourth quarter, the Direct-To-Consumer e-commerce platform projects adjusted EBITDA of $74.3 million to $88.7 million, revenue of $318.5 million to $334.5 million, and GMV of $2.195 billion to $2.315 billion.For fiscal 2025, the company now projects adjusted EBITDA of $185.6 million to $200.0 million, compared to previous estimate between $180 million and $200 million.Revenue is now expected between $944.1 million and $960.1 million, compared to previous range of $921.5 million to $971.5 million.Further, the company now expects GMV between $6.404 billion and $6.524 billion, compared to $6.220 billion and $6.520 billion expected earlier.The Wall Street analysts on average expected the company to report $321.79 million in revenues for the fourth quarter and $945.61 million for the year. Analysts' estimates typically exclude special items.In the third quarter, net profit was $13.18 million, compared to a net loss of $22.56 million a year ago. Earnings per share were $0.07, compared to loss of $0.13 a year earlier.Adjusted EBITDA was $41.26 million, an increase of 33 percent from $31.06 million in 2024.Revenue in the third quarter was $220.78 million, an increase of 25 percent from $175.97 million last year, of which service fees revenue was $103.5 million and fulfillment services revenue was $117.3 million.The Wall Street analysts on average expected the company to report $217.86 million in revenues. Analysts' estimates typically exclude special items.GMV of $1.51 billion increased 33 percent year-over- year.For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. For comments and feedback contact: editorial@rttnews.comBusiness News