- In Q4 2021, Global-e's revenue hit a new record, and its gross margin profile continued to improve.
- As you may know, Global-e has been experiencing a revenue growth deceleration in recent quarters, which has probably prompted the stock to decline rapidly (amid a growth stock sell-off).
- In today's note, we shall discuss Global-e's latest quarterly report and outlook for 2022.
- According to the management team, the Shopify & Global-e partnership is going well, but Bolt's management believed they were making progress with Shopify too (until Shopify built a similar product in-house).
- Global-e is a solid business, but its dependence on Shopify for future growth makes me nervous. Shopify holds all the leverage, and since it is now trading below fair value, I just want to accumulate Shopify's stock.
For further details see:
Global-e Online: A High-Quality Proxy Play For Shopify