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Jun 30
Global-E Q2 2025 Earnings Report
Global-E reported strong financial results for the second quarter of 2025, meeting or exceeding guidance ranges and achieving GAAP profitability.
Key Takeaways
Global-e delivered a strong second quarter in 2025, with significant growth in GMV and revenue, achieving GAAP profitability for the first time. The company saw increased interest in its global e-commerce solutions and is on track for solid top and bottom-line growth, leading to an increased annual forecast.
GMV increased by 34% year over year to $1,454 million in Q2 2025.
Revenue grew by 28% year over year, reaching $214.9 million.
The company achieved GAAP net profit of $10.5 million, a significant improvement from a net loss in the prior year.
Adjusted EBITDA increased to $38.5 million, up from $31.3 million in Q2 2024.
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 is introducing third quarter guidance and raising its full-year guidance for 2025, reflecting continued confidence in its growth trajectory.
Positive Outlook
- Increased full-year 2025 GMV guidance to $6,220 - $6,520 million from $6,190 - $6,490 million.
- Raised full-year 2025 revenue guidance to $921.5 - $971.5 million from $917 - $967 million.
- Adjusted EBITDA full-year 2025 guidance increased to $180 - $200 million from $179 - $199 million.
- Q3 2025 GMV is projected to be between $1,455 - $1,495 million.
- Q3 2025 revenue is expected to be between $214 - $221 million.
Challenges Ahead
- No specific negative forward guidance points were provided in the report.
- The company is unable to provide a reconciliation of Adjusted EBITDA to Operating Profit (Loss) on a forward-looking basis without unreasonable effort.
- Items impacting GAAP financial measures are not within the company’s control and/or cannot be reasonably predicted.
- Such information may have a significant, and potentially unpredictable impact on the Company’s future financial results.
- Share-based compensation expenses are an example of an unpredictable item affecting GAAP financial measures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income