Business
Global-e Reports Fourth Quarter and Full Year 2022 Results
PETAH-TIKVA, Israel, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Global-e Online Ltd. (Nasdaq: GLBE) the global leader of Direct-To-Consumer cross border ecommerce
About this update from Global-e Online Ltd.
[{"type":"text","content":"PETAH-TIKVA, Israel, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Global-e Online Ltd. (Nasdaq: GLBE) the global leader of Direct-To-Consumer cross border ecommerce enablement, today reported financial results for the fourth quarter of 2022 and full year 2022 as well as the outlook for the first quarter and the full year 2023. “We are pleased with the strong results we are reporting to you today for the fourth quarter and full year of 2022, with 69% growth for the quarter and strong 67% growth in total revenues for the full year, with many new clients going live across multiple geographies, and with further deepening of the collaboration with our strategic partners,” said Amir Schlachet, CEO of Global-e. “Despite the volatile and challenging market headwinds we witnessed in 2022 and the ongoing uncertainties in macro conditions going into 2023, we remain extremely optimistic regarding the long-term growth prospects of our market and believe we are best positioned to continue our strong growth within it well into the future.” Q4 2022 Financial Results GMV1 in the fourth quarter of 2022 was $839 million, an increase of 66% year over yearRevenue in the fourth quarter of 2022 was $139.9 million, an increase of 69% year over year, of which service fees revenue was $62.8 million and fulfillment services revenue was $77 millionNon-GAAP gross profit2 in the fourth quarter of 2022 was $57.8 million, an increase of 77% year over year. GAAP gross profit in the fourth quarter of 2022 was $55.8 millionNon-GAAP gross margin2 in the fourth quarter of 2022 was 41.3%, an increase of 180 basis points from 39.5% in the fourth quarter of 2021. GAAP gross margin in the fourth quarter of 2022 was 39.9%Adjusted EBITDA3 in the fourth quarter of 2022 was $21.8 million compared to $11.8 million in the fourth quarter of 2021Net loss in the fourth quarter of 2022 was $28.5 million FY 2022 Financial Results GMV1 for the full year was $2,450 million, an increase of 69% year over yearRevenue for the full year was $409.0 million, an increase of 67% year over year, of which service fees revenue was $181.9 million and fulfillment services revenue was $227.1 millionNon-GAAP gross profit2 for the full year was $167.9 million, an increase of 84% year over year. GAAP gross profit for the full year was $158.2 millionNon-GAAP gross margin2 for the full year was 41.1%, an increas...