- Global-E Online ( NASDAQ: GLBE ) shares popped 15% pre-market on Tuesday after the firm reported second quarter results that showed solid top-line growth and issued an updated guidance for the rest of the year.
- The cross-border e-commerce enablement platform generated revenue of $87.3M, that surged 52% year over year. Service fees revenue were $39.3M, while fulfillment services revenue totaled $48M.
- Gross merchandise value soared 64% Y/Y to $534M, with CEO Amir Schlachet highlighting the firm's "strong new bookings pipeline" in his comments.
- Profitability also improved, with non-GAAP gross margin up 580 basis points to 41.8% and adj. EBITDA of $11.1M up 46% Y/Y.
- Buoyed by the results, the firm lifted its previously issued guidance for the fiscal year 2022, now expecting revenue between $406 - $426M vs. consensus of $390.43M, GMV of $2.45B - $2.55B and adj. EBITDA of $41M - $46M. For Q3, it expects revenue of $99.5M - $102.5M vs. consensus of $93.81M; GMV of $600M - $614M; adj. EBITDA of $8.5M - $11.5M.
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Global-E Online stock surges 15% on guidance lift