Global-e swings to profit as cross-border e-commerce volume surges 40%

Global-e Online (NASDAQ:GLBE) reported a pivotal shift in its financial performance for the first quarter of 2026, swinging to a GAAP net profit as its cross-border e-commerce platform captured a record volume of international trade.

The company posted gross merchandise value (GMV) of $1.742 billion, a 40% increase year-over-year, while total revenue climbed 33% to $252.1 million.

The top-line momentum was driven by a combination of strong volume from existing merchants and a steady pipeline of recently launched brands.

Revenue was split between service fees, which reached $120.8 million, and fulfillment services, which contributed $131.3 million.

This scale allowed Global-e to achieve a GAAP net profit of $30.4 million, a significant turnaround from the $17.9 million net loss recorded in the first quarter of 2025.

Profitability metrics exceeded market expectations, with adjusted EBITDA rising 59% to $50.2 million.

The company’s adjusted EBITDA margin expanded to 19.9%, up 330 basis points from the prior year, as the platform benefited from increased operational leverage and higher-margin service tiers.

Non-GAAP gross profit also saw a robust increase, rising to $118.5 million, reflecting a margin of 47% compared to 45.4% in the same period last year.

On the strength of the quarterly results, Global-e management raised its full-year 2026 outlook across all key metrics.

The company now expects annual revenue to land between $1.22 billion and $1.28 billion, reflecting the continued acceleration of global direct-to-consumer (DTC) trends.

For the second quarter of 2026 alone, the firm projects GMV in the range of $1.95 billion to $1.99 billion.