Global-e Online Ltd. reported robust financial results for the third quarter of 2024 on November 20, 2024. The company's Gross Merchandise Value (GMV) accelerated to 35% year-over-year growth, reaching $1.375 billion.
Revenue for Q3 2024 increased by 32% year-over-year to $176 million, surpassing analyst estimates. Adjusted EBITDA for the quarter rose to $31.1 million from $22.1 million in the prior year, while the operating loss narrowed to $21.0 million from $35.6 million.
Global-e also raised its full-year 2024 revenue guidance to a range of $732.9 million to $744.9 million. For the fourth quarter of 2024, the company projected GMV between $1.615 billion and $1.685 billion, with revenue expected to be between $243 million and $255 million.
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