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Global-E Online Ltd. (GLBE)
:GLBE
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Global-e Online
(NASDAQ:GLBE)
Rating:65Neutral
Price Target:
$37.00
▲(8.44%Upside)
Positive Factors
Earnings Performance
Global-e reported good 1Q25 results with GMV, revenue, and adjusted EBITDA above estimates.
Operational Efficiency
Effective cost management strategies have been implemented, leading to improved operational efficiency.
Strategic Partnerships
Management's focus on strategic partnerships is expected to drive further growth and expansion.
Negative Factors
Consumer Spending
High interest rates, persistent inflation, and expensive mortgage costs are preventing disposable income relief, affecting consumer spending and impacting Global-E Online Ltd.'s performance.
Partnership Changes
The updated Shopify partnership loses some prior exclusivity, which could shrink the Shopify opportunity.
Trade Environment
Soft consumer demand and global trade environment challenges are creating economic uncertainty, impacting Global-E Online Ltd.'s earnings forecasts and price target.
Global-e Online (GLBE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.78B
Dividend YieldN/A
Average Volume (3M)2.37M
Price to Earnings (P/E)―
Beta (1Y)1.66
Revenue Growth33.20%
EPS Growth50.84%
CountryUS
Employees1,084
SectorConsumer Cyclical
Sector Strength59
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-0.11
Shares Outstanding169,435,300
10 Day Avg. Volume3,093,316
30 Day Avg. Volume2,367,296
Financial Highlights & Ratios
PEG Ratio2.72
Price to Book (P/B)10.21
Price to Sales (P/S)0.00
P/FCF Ratio54.62
Enterprise Value/Market Cap1.54
Enterprise Value/Revenue3.34
Enterprise Value/Gross Profit26.38
Enterprise Value/Ebitda-32.35
Forecast
1Y Price Target
$48.42Price Target Upside41.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
Global-e Online Business Overview & Revenue Model
Company DescriptionGlobal-e Online Ltd. (GLBE) is a leading provider of cross-border e-commerce solutions, catering primarily to retailers and brands looking to expand their reach into international markets. The company offers a comprehensive platform that enables seamless global sales by addressing the complexities associated with international shipping, customs, local pricing, and language localization. Global-e's solutions are designed to enhance the customer experience while optimizing the efficiency of global transactions, making it easier for businesses to connect with consumers around the world.
How the Company Makes MoneyGlobal-e Online generates revenue primarily through a combination of service fees and transaction-based fees. The company charges retailers a service fee for the use of its comprehensive e-commerce platform, which includes tools for localizing content, calculating taxes and duties, and managing international shipping. Additionally, Global-e earns transaction-based fees, which are a percentage of each sale processed through its platform. The company also benefits from strategic partnerships with major e-commerce platforms and marketplaces, which help drive more retailers to its services, thereby increasing transaction volume and revenue. These partnerships, along with its robust technological infrastructure, contribute significantly to Global-e's earnings.
Global-e Online Key Performance Indicators (KPIs)
Any
Gross Merchandise Volume
Measures the total sales dollar value for merchandise sold through the platform, indicating the scale of the company's operations and its ability to attract and retain sellers and buyers.
Measures the total sales dollar value for merchandise sold through the platform, indicating the scale of the company's operations and its ability to attract and retain sellers and buyers.
Data provided by:
Main Street Data
Main Street DataGlobal-e Online Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q1-2025)
| % Change Since: -19.51%|
Next Earnings Date:Aug 19, 2025
Earnings Call Sentiment Positive
Global-E's first quarter of 2025 showed strong financial performance with significant growth in GMV and revenues, bolstered by a strategic partnership with Shopify. However, there are potential challenges due to U.S. import tariffs and global trade uncertainties that could impact future performance. Despite these risks, the company's proactive measures and new offerings present opportunities for continued growth.Q1-2025 Updates
Positive Updates
Strong Start to 2025
Global-E reported Q1 GMV of $1.24 billion, up 34% year-over-year, and revenues of nearly $190 million, up 30% year-over-year.
Profitability and Growth
Adjusted EBITDA for Q1 was $31.6 million, up 48% compared to the same quarter last year, with a margin of 16.6%. Global-E is expected to move to GAAP profitability starting in Q2.
Strategic Partnership with Shopify
Global-E signed a new three-year strategic partnership agreement with Shopify, which includes a preferred provider status for international merchant of record services and revised commercial terms.
New Offerings and Expansions
Launch of new 3B2C offering to help merchants offset costs due to tariffs, and continued expansion with several luxury and sports brands across various regions.
Negative Updates
Potential Impact of U.S. Import Tariffs
The removal of the de minimis on imports into the U.S. may negatively impact 12% of Global-E's U.S. inbound GMV if retail prices increase significantly due to high tariffs.
Geopolitical and Macroeconomic Uncertainty
There is heightened uncertainty due to global trade turmoil caused by changes in duty tariffs, which may affect consumer spending and e-commerce trade.
Impact of Ted Baker Bankruptcy
Growth of service fees was impacted by the bankruptcy of Ted Baker UK and EU distributors, affecting the GMV mix.
Company Guidance
During the Global-E First Quarter 2025 earnings call, the company reported a strong start to the year, with GMV reaching $1.24 billion, a 34% increase year-over-year, and revenues nearly hitting $190 million, marking a 30% rise from the previous year. The adjusted gross profit was $86.3 million, up 31%, and quarterly adjusted EBITDA was $31.6 million, a 48% increase, resulting in a 16.6% margin. Despite uncertainties from U.S. import tariff changes affecting U.S. inbound GMV, which comprises about 12% of total GMV, the company reiterated its full-year guidance for 2025, expecting GMV to range between $6.19 billion and $6.49 billion and revenue between $917 million and $967 million. Additionally, Global-E announced a new three-year strategic partnership with Shopify, allowing them to remain the exclusive provider of merchant of record services for Shopify's Managed Markets solution.Global-e Online Financial Statement Overview
Summary
Global-e Online shows strong revenue growth and improving margins, though profitability remains a challenge. A solid balance sheet supports stability with minimal leverage. Robust cash flow performance offsets net losses, suggesting the company is well-positioned for future growth if profitability improves.Income Statement
Global-e Online has demonstrated robust revenue growth with a 32.1% increase from 2023 to 2024, signaling strong demand and business expansion. Gross profit margin improved to 45.1%, indicating efficient cost management. However, the company remains unprofitable with a negative net profit margin of -10.0%. Despite EBITDA turning positive, EBIT remains negative, pointing to ongoing operational challenges.72
Positive
Balance Sheet
The company maintains a solid equity base with an equity ratio of 70.7%, reflecting financial stability. However, the debt-to-equity ratio is low at 0.03, suggesting limited leverage use. Return on equity is negative due to net losses, highlighting profitability concerns despite a strong capital structure.65
Positive
Cash Flow
Impressive free cash flow growth of 57.0% indicates effective cash management and operational efficiency. The operating cash flow to net income ratio is strong at -2.24, demonstrating robust cash generation relative to accounting losses. Free cash flow covers net income, emphasizing cash flow resilience despite net losses.78
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 752.76M | 569.95M | 409.05M | 245.27M | 136.38M | Gross Profit |
| 339.43M | 233.60M | 158.18M | 91.43M | 43.47M | EBIT |
| -67.93M | -137.06M | -189.32M | -65.66M | 8.41M | EBITDA |
| 101.61M | 47.77M | -159.91M | -65.33M | 8.65M | Net Income Common Stockholders |
| -75.55M | -133.81M | -195.41M | -74.93M | 3.91M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 474.44M | 317.42M | 228.20M | 509.07M | 91.97M | Total Assets |
| 1.26B | 1.20B | 1.16B | 846.13M | 347.31M | Total Debt |
| 24.86M | 23.32M | 19.82M | 21.32M | 4.43M | Net Debt |
| -229.76M | -176.76M | -145.21M | -427.30M | -64.21M | Total Liabilities |
| 370.05M | 300.38M | 234.48M | 150.38M | 205.81M | Stockholders Equity |
| 893.43M | 901.98M | 928.12M | 695.75M | 141.50M |
| Cash Flow | Free Cash Flow | |||
| 167.06M | 106.48M | 73.13M | 12.87M | 28.89M | Operating Cash Flow |
| 169.39M | 108.22M | 81.48M | 15.75M | 29.35M | Investing Cash Flow |
| -108.96M | -55.04M | -330.10M | -40.49M | -24.05M | Financing Cash Flow |
| 3.28M | 1.99M | 1.24M | 398.61M | 59.36M |
Global-e Online Technical Analysis
Neutral
34.12
Price Trends
34.15
Negative
41.12
Negative
42.43
Negative
Market Momentum
-0.30
Negative
49.31
Neutral
71.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLBE, the sentiment is Neutral. The current price of 34.12 is above the 20-day moving average (MA) of 32.89, below the 50-day MA of 34.15, and below the 200-day MA of 42.43, indicating a neutral trend. The MACD of -0.30 indicates Negative momentum. The RSI at 49.31 is Neutral, neither overbought nor oversold. The STOCH value of 71.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GLBE.
Global-e Online Risk Analysis
Global-e Online disclosed 1 risk factors in its most recent earnings report. Global-e Online reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Global-e Online Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $36.31B | 18.83 | 36.48% | 1.47% | 2.04% | -15.61% | |
75 Outperform | $19.00B | 50.92 | 76.24% | ― | 7.64% | 369.79% | |
74 Outperform | $51.31B | 204.48 | 6.06% | ― | 20.88% | -80.08% | |
68 Neutral | $6.45B | 43.92 | -39.97% | ― | 2.18% | -32.87% | |
65 Neutral | $5.78B | ― | -6.93% | ― | 33.20% | 50.84% | |
63 Neutral | $6.98B | 11.41 | 2.80% | 4.24% | 2.68% | -24.94% | |
44 Neutral | $6.18B | ― | 17.86% | ― | -0.89% | 46.62% |
* Consumer Cyclical Sector Average
Performance Comparison
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Global-e Online
33.87
2.79
8.98%
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0.10%
CHWY
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40.76
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75.31%
CPNG
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28.28
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30.32%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.