Global-E Online Q1 Earnings Exceed Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 13 2026
0mins
Source: seekingalpha
- Significant Revenue Growth: Global-E Online reported Q1 revenue of $252.09 million, reflecting a 32.8% year-over-year increase, surpassing market expectations by $1.29 million, indicating strong momentum in the global e-commerce sector.
- Strong GMV Performance: The total gross merchandise volume (GMV) for Q1 2026 reached $1.742 billion, a 40% year-over-year increase, showcasing the company's success in expanding its market share and customer base.
- Substantial EBITDA Improvement: Adjusted EBITDA for Q1 was $50.2 million, up 59% from $31.6 million in Q1 2025, demonstrating significant progress in cost control and operational efficiency.
- Upgraded Full-Year Outlook: Global-E Online raised its guidance across all metrics for FY 2026, with Q2 GMV expected between $1.945 billion and $1.985 billion, and full-year revenue targets increased to $1.22 billion to $1.28 billion, reflecting the company's confidence in future growth.
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Analyst Views on GLBE
Wall Street analysts forecast GLBE stock price to rise
9 Analyst Rating
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 30.090
Low
41.00
Averages
47.75
High
52.00
Current: 30.090
Low
41.00
Averages
47.75
High
52.00
About GLBE
Global-E Online Ltd is an Israel-based company engaged primarily in the software development. The Company develops e-commerce platform known as Global-e, which enable direct-to-consumer cross-border e-commerce. Through its end-to-end solutions that combine localization capabilities, big-data business intelligence models, international logistics and cross-border experience, the Company's platform enables retailers and brands to improve international traffic conversion and sales as well as to achieve global online growth. The Company cooperates with software engineers as well as other specialists. The Company operates from seven offices worldwide and is the chosen partner of retailers and brands across the United States, Europe and Asia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Global-e Acquires Passport Global for $350M to Enhance Logistics
- Acquisition Overview: Global-e Online Ltd. announced a $350M acquisition of Passport Global Inc., funded through equal parts cash and shares, with an additional contingent consideration of up to $75M based on 2026 financial results.
- Logistics Capability Enhancement: The acquisition is expected to significantly strengthen Global-e's logistics capabilities by integrating Passport's advanced cross-border logistics infrastructure and multi-carrier network, thereby improving standard shipping reliability and enhancing the post-purchase experience, supporting scalable and cost-effective logistics solutions.
- Market Expansion Potential: Passport is projected to generate approximately $100M in revenues in 2026, with a growth rate slightly exceeding that of Global-e, thus providing Global-e with a broader merchant service offering and further solidifying its leading position in global e-commerce.
- Management Integration: Following the expected closing in July, Passport's founder and CEO Alex Yancher will join Global-e's executive team to lead the integrated business, marking a significant advancement in the company's logistics and trade compliance capabilities.
See More
Global-e Acquires Passport to Enhance Logistics Capabilities
- Acquisition Scale: Global-e has agreed to acquire Passport for $350 million, funded equally through cash and ordinary shares, which is expected to enhance its logistics capabilities and improve the post-purchase experience for merchants.
- Logistics Capability Enhancement: This acquisition will provide Global-e with an efficient, asset-light multi-carrier network that supports standard logistics solutions for cross-border, domestic, and last-mile deliveries, thereby increasing its competitiveness in the global e-commerce market.
- Market Expansion Potential: By integrating Passport's advanced logistics infrastructure, Global-e will be able to offer a Non-Merchant of Record solution to a broader merchant segment, with Passport projected to generate approximately $100 million in revenue in 2026, growing slightly faster than Global-e.
- Strategic Integration Plan: Following the acquisition, Passport's founder and CEO is expected to join Global-e's management team, which is anticipated to drive the development of the integrated business, further enhancing customer experience and logistics efficiency.
See More
Spyglass Capital Reduces Stake in Global-E Online by 745,544 Shares
- Share Reduction Details: Spyglass Capital Management disclosed a reduction of 745,544 shares in Global-E Online during Q1 2026, valued at approximately $26.22 million, indicating a potential loss of confidence in the stock, with the quarter-end position value declining by $45.70 million due to market price fluctuations.
- Position Percentage Change: Following this sale, Global-E Online now represents only 4.5% of Spyglass's reportable U.S. equity AUM, suggesting a strategic reassessment of their investment portfolio that could influence future investment decisions.
- Company Performance Overview: Despite the reduction, Global-E Online achieved a remarkable 40% growth in GMV and a 33% increase in revenue over the past year, demonstrating robust performance in the cross-border e-commerce sector while consistently delivering positive free cash flow and net income.
- Market Competition and Outlook: With its stock price rising only 2% over the last five years, Global-E Online's partnership with Shopify highlights its competitive edge in the international D2C platform space, and despite facing AI threats, the company's technology platform maintains a significant moat, making it a potentially worthwhile long-term investment.
See More
Spyglass Reduces Stake in Global-E Online
- Share Reduction Scale: Spyglass Capital Management reduced its holdings in Global-E Online by 745,544 shares during Q1 2026, with an estimated trade value of $26.22 million, indicating a waning confidence in the company.
- Decline in Position Value: This transaction resulted in a $45.70 million decrease in the quarter-end position value, highlighting the negative impact of market price fluctuations on its investment portfolio, with Global-E Online now comprising 4.5% of its U.S. equity AUM.
- Poor Market Performance: As of May 20, 2026, Global-E Online shares were priced at $30.04, down 8.3% over the past year, significantly underperforming the S&P 500 by 33 percentage points, indicating a lack of competitiveness in the market.
- Growth Potential and Risks: Despite its poor performance over the past year, Global-E Online's 40% GMV growth and 33% revenue increase suggest a strong business foundation; however, the threat of AI technology could impact its future development, necessitating cautious evaluation by investors.
See More
Analysis of Global-e Online's 30% Stock Drop
- Strong Business Growth: Despite a challenging retail environment, Global-e Online reported a 33% year-over-year revenue increase and a 40% rise in gross merchandise value (GMV) in Q1 2026, demonstrating robust demand for its cross-border e-commerce services and adaptability to market changes.
- Client Base Expansion: The company onboarded new clients each quarter, including Hong Kong's Shanghai Tang and swimwear brand Andie Swim, while also expanding LVMH's Fresh brand market, indicating its sustained appeal and market penetration in the high-end retail sector.
- Increasing Market Concerns: Despite strong performance, market worries about the impact of the Iran war on the company have intensified, with management noting that about 5% of GMV comes from affected countries; although trends are improving, uncertainty remains.
- Inflationary Pressures: The Consumer Price Index (CPI) rose 3.8% over the past 12 months, the highest in three years, with surging oil prices exacerbating market concerns about Global-e's stock, which trades at 50 times trailing earnings, increasing short-term volatility risks.
See More
Global-e Online Stock Down 30%: Is It Time to Buy?
- Strong Growth Context: Despite a challenging retail environment, Global-e achieved a 33% year-over-year revenue increase in Q1 2026, with a 40% rise in gross merchandise value (GMV), showcasing its robust competitive position in cross-border e-commerce that may attract long-term investor interest.
- Client Base Expansion: Global-e continues to attract high-end brand clients, including LVMH and Hugo Boss, and onboarded new clients like Shanghai Tang and Andie Swim in Q1, indicating strong market demand and potential for further market share expansion.
- Innovation-Driven Strategy: The company's launch of a duty drawback feature and its use of artificial intelligence to enhance capacity without increasing costs help it adapt to changing retail landscapes, strengthening its competitive advantage in the industry.
- Market Concerns and Valuation: Despite strong performance, market worries about the impact of the Iran war and a 3.8% increase in the Consumer Price Index (CPI) have led to its stock trading at 50 times trailing earnings, increasing short-term volatility risks, necessitating cautious evaluation by investors.
See More
Global-e Acquires Passport Global for $350M to Enhance Logistics
- Acquisition Overview: Global-e Online Ltd. announced a $350M acquisition of Passport Global Inc., funded through equal parts cash and shares, with an additional contingent consideration of up to $75M based on 2026 financial results.
- Logistics Capability Enhancement: The acquisition is expected to significantly strengthen Global-e's logistics capabilities by integrating Passport's advanced cross-border logistics infrastructure and multi-carrier network, thereby improving standard shipping reliability and enhancing the post-purchase experience, supporting scalable and cost-effective logistics solutions.
- Market Expansion Potential: Passport is projected to generate approximately $100M in revenues in 2026, with a growth rate slightly exceeding that of Global-e, thus providing Global-e with a broader merchant service offering and further solidifying its leading position in global e-commerce.
- Management Integration: Following the expected closing in July, Passport's founder and CEO Alex Yancher will join Global-e's executive team to lead the integrated business, marking a significant advancement in the company's logistics and trade compliance capabilities.
See More
Global-e Acquires Passport to Enhance Logistics Capabilities
- Acquisition Scale: Global-e has agreed to acquire Passport for $350 million, funded equally through cash and ordinary shares, which is expected to enhance its logistics capabilities and improve the post-purchase experience for merchants.
- Logistics Capability Enhancement: This acquisition will provide Global-e with an efficient, asset-light multi-carrier network that supports standard logistics solutions for cross-border, domestic, and last-mile deliveries, thereby increasing its competitiveness in the global e-commerce market.
- Market Expansion Potential: By integrating Passport's advanced logistics infrastructure, Global-e will be able to offer a Non-Merchant of Record solution to a broader merchant segment, with Passport projected to generate approximately $100 million in revenue in 2026, growing slightly faster than Global-e.
- Strategic Integration Plan: Following the acquisition, Passport's founder and CEO is expected to join Global-e's management team, which is anticipated to drive the development of the integrated business, further enhancing customer experience and logistics efficiency.
See More
Spyglass Capital Reduces Stake in Global-E Online by 745,544 Shares
- Share Reduction Details: Spyglass Capital Management disclosed a reduction of 745,544 shares in Global-E Online during Q1 2026, valued at approximately $26.22 million, indicating a potential loss of confidence in the stock, with the quarter-end position value declining by $45.70 million due to market price fluctuations.
- Position Percentage Change: Following this sale, Global-E Online now represents only 4.5% of Spyglass's reportable U.S. equity AUM, suggesting a strategic reassessment of their investment portfolio that could influence future investment decisions.
- Company Performance Overview: Despite the reduction, Global-E Online achieved a remarkable 40% growth in GMV and a 33% increase in revenue over the past year, demonstrating robust performance in the cross-border e-commerce sector while consistently delivering positive free cash flow and net income.
- Market Competition and Outlook: With its stock price rising only 2% over the last five years, Global-E Online's partnership with Shopify highlights its competitive edge in the international D2C platform space, and despite facing AI threats, the company's technology platform maintains a significant moat, making it a potentially worthwhile long-term investment.
See More
Spyglass Reduces Stake in Global-E Online
- Share Reduction Scale: Spyglass Capital Management reduced its holdings in Global-E Online by 745,544 shares during Q1 2026, with an estimated trade value of $26.22 million, indicating a waning confidence in the company.
- Decline in Position Value: This transaction resulted in a $45.70 million decrease in the quarter-end position value, highlighting the negative impact of market price fluctuations on its investment portfolio, with Global-E Online now comprising 4.5% of its U.S. equity AUM.
- Poor Market Performance: As of May 20, 2026, Global-E Online shares were priced at $30.04, down 8.3% over the past year, significantly underperforming the S&P 500 by 33 percentage points, indicating a lack of competitiveness in the market.
- Growth Potential and Risks: Despite its poor performance over the past year, Global-E Online's 40% GMV growth and 33% revenue increase suggest a strong business foundation; however, the threat of AI technology could impact its future development, necessitating cautious evaluation by investors.
See More
Analysis of Global-e Online's 30% Stock Drop
- Strong Business Growth: Despite a challenging retail environment, Global-e Online reported a 33% year-over-year revenue increase and a 40% rise in gross merchandise value (GMV) in Q1 2026, demonstrating robust demand for its cross-border e-commerce services and adaptability to market changes.
- Client Base Expansion: The company onboarded new clients each quarter, including Hong Kong's Shanghai Tang and swimwear brand Andie Swim, while also expanding LVMH's Fresh brand market, indicating its sustained appeal and market penetration in the high-end retail sector.
- Increasing Market Concerns: Despite strong performance, market worries about the impact of the Iran war on the company have intensified, with management noting that about 5% of GMV comes from affected countries; although trends are improving, uncertainty remains.
- Inflationary Pressures: The Consumer Price Index (CPI) rose 3.8% over the past 12 months, the highest in three years, with surging oil prices exacerbating market concerns about Global-e's stock, which trades at 50 times trailing earnings, increasing short-term volatility risks.
See More
Global-e Online Stock Down 30%: Is It Time to Buy?
- Strong Growth Context: Despite a challenging retail environment, Global-e achieved a 33% year-over-year revenue increase in Q1 2026, with a 40% rise in gross merchandise value (GMV), showcasing its robust competitive position in cross-border e-commerce that may attract long-term investor interest.
- Client Base Expansion: Global-e continues to attract high-end brand clients, including LVMH and Hugo Boss, and onboarded new clients like Shanghai Tang and Andie Swim in Q1, indicating strong market demand and potential for further market share expansion.
- Innovation-Driven Strategy: The company's launch of a duty drawback feature and its use of artificial intelligence to enhance capacity without increasing costs help it adapt to changing retail landscapes, strengthening its competitive advantage in the industry.
- Market Concerns and Valuation: Despite strong performance, market worries about the impact of the Iran war and a 3.8% increase in the Consumer Price Index (CPI) have led to its stock trading at 50 times trailing earnings, increasing short-term volatility risks, necessitating cautious evaluation by investors.
See More
