Global-e Online Ltd. (NASDAQ:GLBE) delivered a strong second-quarter 2026 report on Wednesday, beating analyst expectations and lifting its full-year outlook as cross-border e-commerce volumes continued to surge.
Revenue rose 39% year over year to $299 million, comfortably ahead of the $283.097 million analysts had penciled in. Adjusted diluted earnings came in at 37 cents per share, well above the 22-cent estimate. On a GAAP basis, diluted earnings jumped to 27 cents per share from 6 cents a year earlier.
Investors liked what they saw: the stock traded higher following the results, supported by the earnings and revenue beats and the increased full-year guidance.
Profitability and Revenue Mix
The bottom line improved dramatically. Net profit rose to $47.7 million from $10.5 million, while non-GAAP net profit increased to $64.9 million from $37.9 million. GMV climbed 44% to $2.09 billion, and adjusted EBITDA rose 62% to $62.4 million, with margin expanding 300 basis points to 20.9%.
Non-GAAP gross profit increased 36% to $135.4 million, though gross margin dipped slightly to 45.3% from 46.5% a year earlier. The revenue mix shows a growing reliance on fulfillment services, which contributed $159.6 million, or 53% of revenue, while service fees brought in $139.4 million, or 47%. Adjusted operating expenses fell to 24.7% of revenue from 29.0%, showing improved operating leverage.
Merchant Expansion and Managed Markets
Global-e expanded Shopify Managed Markets Version 2.0 to Canada and the U.K. and migrated remaining Version 1.0 merchants. The company also added new enterprise clients, including Ferrari, Naked Wolfe, N.Peal and McLaren Golf, while existing relationships with FIGS, Pokémon, Peter Millar, G/FORE and Isabel Marant were expanded.
Cash Flow and Share Repurchases
Cash generation remained robust. Operating cash flow was $73.6 million and free cash flow was $73.2 million. Cash and cash equivalents totaled $285.4 million at June 30.
The company repurchased $68 million of shares during the quarter, completing its $200 million 2025 repurchase plan. The board also authorized a new incremental $500 million repurchase program, signaling confidence in the business.
Raised Full-Year and Q3 Outlook
Global-e raised its full-year 2026 revenue guidance to $1.305 billion-$1.355 billion, up from $1.220 billion-$1.280 billion, and above the $1.276 billion analyst estimate. GMV guidance was increased to $8.81 billion-$9.11 billion, and adjusted EBITDA guidance to $278 million-$300 million.
The company expects Passport to contribute $55 million-$59 million of revenue, about $60 million of GMV and $3 million-$4 million of adjusted EBITDA in the second half.
For the third quarter, Global-e expects revenue of $308.5 million-$315.5 million, above the $294.861 million estimate. The company identified tariffs and other trade regulations among risks that could affect results.
CEO Amir Schlachet said, “Given the strong results through the first half of 2026 and the trends that we are seeing in the market today, we expect 2026 revenue growth to show meaningful year-on-year acceleration, and we remain ahead of our long-term growth targets.”
GLBE Price Action: Global-e Online shares were trading up 5.43% at $43.08 at the time of publication on Wednesday, according to market data.
