Global-E Online (GLBE) Q3 2025 earnings summary

Executive summary

• Achieved strong Q3 results with 33% GMV growth, 25–25.5% revenue growth, and 33% adjusted EBITDA growth, exceeding guidance and driven by both new and existing merchants, with continued global expansion of the merchant base.

• Net profit reached $13.2 million in Q3 2025, reversing a net loss from the prior year.

• Raised full-year 2025 guidance for GMV, revenue, and adjusted EBITDA, reflecting confidence in ongoing trading volumes and business resilience.

• Continued innovation with new value-added services, AI-powered solutions, and strategic partnerships, notably with Shopify and BorderFree.com.

Financial highlights

• Q3 GMV reached $1.51 billion, up 33% year-over-year; revenue was $221 million, up 25.5% year-over-year.

• Adjusted gross profit was $102 million, up 24% year-over-year; adjusted EBITDA was $41.3 million, up 33%, with an 18.7% margin.

• GAAP net profit was $13.2 million; free cash flow was $73.6 million, up 245–246% year-over-year.

• Ended Q3 with $552 million in cash and equivalents.

Outlook and guidance

• Full-year 2025 GMV expected at $6.46 billion midpoint (33% growth); revenue at $952.1 million (26.5% growth); adjusted EBITDA at $192.8 million (37% growth).

• Q4 2025 GMV guidance: $2.195–$2.315 billion; revenue: $318.5–$334.5 million; adjusted EBITDA: $74.3–$88.7 million.

• 2025 expected to be first GAAP profitable year as a public company.