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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
Revenue by Segment
Service Fees Revenue
CapyFin.comFulfillment Services Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.comEuropean Union Revenue
CapyFin.comIsrael Revenue
CapyFin.comOther Revenue
CapyFin.com 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