Headquartered in Petah Tikva, Israel, Global-e Online Ltd. (GLBE) provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and Internationally. Its platform enables international shoppers to buy online and merchants to sell worldwide.
GLBE’s first-quarter 2022 revenue increased 65% year-over-year, supported by a 71% year-over-year increase in Gross Merchandise Value (GMV). However, the company’s net loss widened significantly compared to the year-ago quarter to $53.58 million. Moreover, the company cut its full-year revenue outlook from the range of $411 million - $421 million to $383 million - $403 million due to its loss of business resulting from its exit from the Russian market, which contributed 2% to its GMV. Despite launching new partnerships with Adidas and other iconic brands, the stock is expected to remain under pressure due to macroeconomic uncertainties.
