2023-05-22 07:28:40 ET
Global-e Online Ltd ( NASDAQ: GLBE ) fell in early trading on Monday after the Israel-based e-commerce solutons provider reported Q1 results .
Revenue rose 54% during the quarter to $117.6M, of which service fees revenue was $50.4M and fulfillment services revenue was $67.3M. Revenue from the U.S. rose to 48% of the company's total from 37% a year ago. Revenue from the UK dropped to 32% of the total from 37% a year ago. GMV was up 55% during the quarter to $703.9M.
Adjusted EBITDA was $14.5M vs. $3.3M a year ago. Global-e Online ( GLBE ) narrowed its loss during the quarter to $43.1M from $52.6M a year ago.
Looking ahead, the company sees full-year revenue of $562M to $590M vs. a prior view for $557M to $584M and $578M consensus. Full-year adjusted EBITDA of $70M to $77M is anticipated vs. $66M to $74M prior view.
Shares of Global-e Online swung 4.01% lower in premarket trading to $34.50 vs. the 52-week trading range of $16.32 to $37.65.
More on Global-e Online:
- Global-e Online: Shares Consolidating Following A Robust Sales Outlook
- More articles from Seeking Alpha analysts
- Growth metrics on Global-e Online Ltd
- Relative strength index and moving averages
- Seeking Alpha's Quant Rating on Global-e Online
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Global-e Online trades lower after posting Q1 results, updating guidance