Global-E Online (GLBE) Q2 2026 earnings summary

Executive summary

• Achieved 44% year-over-year GMV growth and 39% revenue growth in Q2 2026, exceeding guidance and raising the full-year outlook for GMV, revenue, and adjusted EBITDA.

• Adjusted EBITDA margin expanded by 300 basis points year-over-year to nearly 21% in Q2 2026.

• Expanded merchant base with launches across North America, EMEA, and APAC, including major brands such as Ferrari and McLaren.

• Closed the acquisition of Passport, enhancing logistics capabilities and expanding the addressable market.

• Platform processed over 35 million transactions in the last twelve months, serving more than 1,500 enterprise partner merchants.

Financial highlights

• Q2 2026 GMV reached $2,089 million, up 44% year-over-year; revenue was $299.0 million, up 39% year-over-year.

• Adjusted EBITDA was $62.4 million, up 62% year-over-year, with a margin of nearly 21%.

• Non-GAAP gross profit was $135.4 million (45.3% margin); GAAP gross profit was $131.9 million (44.1% margin).

• Non-GAAP net profit was $64.9 million ($0.37 per share); GAAP net profit was $47.7 million ($0.27 per share).

• Free cash flow for Q2 was $73.2 million; cash and equivalents stood at $530 million at quarter end.

Outlook and guidance

• FY 2026 guidance raised: GMV $8.81–$9.11 billion (36.4% growth at midpoint); revenue $1.305–$1.355 billion (38% growth at midpoint); adjusted EBITDA $278–$300 million (46% growth at midpoint, 21.7% margin).

• Q3 2026 guidance: GMV $1,995–$2,045 million, revenue $308.5–$315.5 million, adjusted EBITDA $58.5–$62.5 million.

• Passport expected to contribute $55–$59 million in revenue and $3–$4 million in adjusted EBITDA in the back half of 2026.

• Organic revenue growth projected at 32% for FY26.