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Mar 31
Global-E Q1 2025 Earnings Report
Global-E reported strong Q1 results with solid revenue and GMV growth, though it continued to post a net loss.
Key Takeaways
Global-E delivered a robust Q1 2025 performance with a 30% year-over-year increase in revenue and a significant boost in GMV. Despite posting a net loss, the company improved its profitability metrics and strengthened its partnership with Shopify.
Revenue grew to $189,882,000, driven by both service and fulfillment segments.
Gross Merchandise Value increased by 34% YoY to $1,242,514,000.
Net loss narrowed significantly to $17,856,000 from $32,051,000 YoY.
Shopify partnership renewed and expanded for three more years, supporting future growth.
Global-E
Global-E
Global-E Revenue by Segment
Global-E Revenue by Geographic Location
Forward Guidance
Global-E maintained its FY 2025 guidance and issued Q2 projections with continued revenue and EBITDA growth expectations.
Positive Outlook
- Q2 2025 GMV forecasted between $1.387B and $1.427B
- Q2 revenue projected between $204M and $211M
- Q2 Adjusted EBITDA expected between $35M and $39M
- Full year GMV guidance reaffirmed between $6.19B and $6.49B
- Strong merchant pipeline and geographic expansion initiatives underway
Challenges Ahead
- Net losses continue, despite narrowing
- Macroeconomic volatility and tariff uncertainties persist
- Significant decline in cash from operations
- High dependence on key partnerships like Shopify
- Ongoing costs related to platform enhancements and global expansion
Revenue & Expenses
Visualization of income flow from segment revenue to net income