Quarterly GMV, Revenue, and Adjusted EBITDA results at or above top end of guidance ranges
FY 2025 Adjusted EBITDA increases 41% year-over-year to $198.5 million
PETAH-TIKVA, Israel, Feb. 18, 2026 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE) the platform powering global direct-to-consumer e-commerce, today reported financial results for the fourth quarter and full year of 2025.
“2025 was another record-breaking year for Global-e, with Q4 being our strongest quarter ever. We surpassed our fourth quarter and annual guidance across all parameters, from top line revenue down to adjusted EBITDA for a very successful finish to the year. 2025 was the first year of the multi-year strategic plan that we outlined in March. Given our performance for 2025 and our outlook for 2026, we are now slightly ahead of our plan and are confident that we will deliver across all metrics,” said Amir Schlachet, Founder and CEO of Global-e. “We continue to win in the market and have a number of exciting initiatives ahead of us, including the continued expansion of our value-added services, driving both growth and efficiency from AI-led technologies, and the launch of Managed Markets 2.0. We are excited about the opportunities and the pipeline that we see ahead of us, as is evident from our 2026 outlook, forecasting revenue growth acceleration to close to 30%, coupled with significant bottom line margin expansion and free cash flow generation.”
Q4 2025 Financial Results
GMV1 in the fourth quarter of 2025 was $2,361 million, an increase of 37.8% year over yearRevenue in the fourth quarter of 2025 was $336.7 million, an increase of 28% year over year, of which service fees revenue was $160.9 million and fulfillment services revenue was $175.7 millionNon-GAAP gross profit2 in the fourth quarter of 2025 was $157.5 million, an increase of 30% year over year. GAAP gross profit in the fourth quarter of 2025 was $154.8 millionNon-GAAP gross margin2 in the fourth quarter of 2025 was 46.8%, compared with 46.0% in the fourth quarter of 2024. GAAP gross margin in the fourth quarter of 2025 was 46.0justed EBITDA3 in the fourth quarter of 2025 was $87.2 million, an increase of 53% year over yearNon-GAAP net profit4 in the fourth quarter of 2025 was $85.8 million, an increase of 62% year over year. Net profit in the fourth quarter of 2025 was $62.5 millionFree Cash Flow in the fourth quarter of 2025 was $216.2 million, an increase of 68% year on year. Net cash from operating activities was $216.6 million
FY 2025 Financial Results
GMV1 for the full year was $6,569 million, an increase of 35% year over yearRevenue for the full year was $962.2 million, an increase of 28% year over year, of which service fees revenue was $451.2 million and fulfillment services revenue was $511.0 millionNon-GAAP gross profit2 for the full year was $445.8 million, an increase of 28% year over year. GAAP gross profit for the full year was $436.2 millionNon-GAAP gross margin2 for the full year was 46.3% compared with 46.4% in 2024. GAAP gross margin for the full year was 45.3justed EBITDA3 for the full year was $198.5 million, an increase of 41% year on yearNon-GAAP net profit4 for the full year was $192.8 million, an increase of 47% year over year. Net profit for the full year was $68.3 millionFree Cash Flow for the full year was $280.7 million, an increase of 68% year on year. Net cash from operating activities was $283.8 million
Recent Business Highlights
Shopify’s Managed Markets 2.0 launched for US merchantsDeveloped and launched AI-led internal and go-to-market tools to drive efficient growthEnabled agentic commerce workflowsExpanded capabilities and opportunities for duty draw back and duty recoveryCompleted $72 million of share repurchases in Q4 2025Continued launching brands across geographies and verticals in Q4 2025, including: North American brands such as: Nadine Merabi, the luxury, ready-to-wear woman’s clothing brand; Laura Geller, the renowned US-based cosmetics brand; Popsockets, the consumer electronics accessory company; and Parsel, the popular modular carrying system European brands such as: Three iconic brands of the French SMCP group – Sandro, Maje and Claudie Pierlot; Stella McCartney, the sustainable, ethically minded luxury brand out of Italy; Prusa, the largest maker of 3D printers in Europe; Maison Alaïa, the French global luxury fashion brand, part of the Richemont group; Satisfy Running, the French athletic running brand; Dunhill, the British menswear and accessory brand; and Graff, the well-known high-end British jeweler APAC brands such as: Tuttio, a seller of high-performance e-bikes out of Hong Kong; J&CO, the Singaporean high-quality, affordable jewelry line; Danton, a Japanese fashion brand; Portier, the Australian brand known for their stylish baby carriers; Vestirsi, the Australian brand selling hand-made leather bags; Verish, the trendy underwear brand from South Korea; Source Unknown, the Korean luxury fashion brand; and Sanrio, the Japanese entertainment brand probably best known for its Hello Kitty character Expanded scope of business with a number of merchants, such as: Logitech – first to launch on our new integration with the TikTok Shop marketplaceZimmermann, the iconic Australian high end women’s fashion brand – now uses Global-e also into the EU and the USKarl Lagerfeld, Pokemon, Tom Ford, Soeur and MarcCain – all added support for additional lanes during the quarter
Q1 2026 and Full Year Outlook
Global-e is introducing first quarter and full year guidance as follows:
Q1 2026 FY 2026 (in millions)GMV(1)$1,705 – $1,745 $8,450 – $8,800Revenue$247 – $254 $1,211 – $1,271Adjusted EBITDA(3)$46.5 – $49.5 $259 – $284
1 Gross Merchandise Value (GMV) is a key operating metric. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
2 Non-GAAP Gross profit and Non-GAAP gross margin are non-GAAP financial measures. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
3 Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information regarding this metric, including the reconciliations to Net Profit (Loss), its most directly comparable GAAP financial measure. The Company is unable to provide a reconciliation of Adjusted EBITDA to Net Profit (Loss), its most directly comparable GAAP financial measure, on a forward-looking basis without unreasonable effort because items that impact this GAAP financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, share-based compensation expenses. Such information may have a significant, and potentially unpredictable impact on the Company’s future financial results.
4 Non-GAAP net profit is a non-GAAP financial measure. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric, including the reconciliations to Net Profit (Loss), its most directly comparable GAAP financial measure.
Conference Call Information:
Global-e will host a conference call at 8:00 a.m. ET on Wednesday, February 18, 2026.
The call will be available, live, to interested parties by dialing:
United States/Canada Toll Free:1-800-717-1738International Toll:1-646-307-1865
A live webcast will also be available in the Investor Relations section of Global-E’s website at: https://investors.global-e.com/news-events/events-presentations
Approximately two hours after completion of the live call, an archived version of the webcast will be available on the Investor Relations section of the Company’s web site and will remain available for approximately 30 calendar days.
The press release with the financial results will be accessible on the Company’s Investor Relations website prior to the conference call.
Non-GAAP Financial Measures and Key Operating Metrics
To supplement Global-e’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Global-e considers certain financial measures and key performance metrics that are not prepared in accordance with GAAP including:
Non-GAAP gross profit, which Global-e defines as gross profit adjusted for amortization of acquired intangibles. Non-GAAP gross margin is calculated as Non-GAAP gross profit divided by revenuesAdjusted EBITDA, which Global-e defines as net profit (loss) adjusted for income tax expenses (benefit), financial expenses, stock-based compensation expenses, depreciation and amortization, commercial agreements amortization, amortization of acquired intangibles, merger related contingent consideration and acquisition related expenses.Free Cash Flow, which Global-e defines as net cash provided by operating activities less the purchase of property and equipment.Non-GAAP net profit, which Global-e defines as net profit adjusted for stock-based compensation expenses, commercial agreements amortization, amortization of acquired intangibles, merger related contingent consideration and acquisition related expenses.Non-GAAP net profit per share, which Global-e defines as Non-GAAP net profit divided by GAAP weighted-average shares outstanding, basic and diluted.
Global-e also uses Gross Merchandise Value (GMV) as a key operating metric. Gross Merchandise Value or GMV is defined as the combined amount we collect from the shopper and the merchant for all components of a given transaction, including products, duties and taxes and shipping.
The aforementioned key performance indicators and non-GAAP financial measures are used, in conjunction with GAAP measures, by management and our board of directors to assess our performance, including the preparation of Global-e’s annual operating budget and quarterly forecasts, for financial and operational decision-making, to evaluate the effectiveness of Global-e’s business strategies, and as a means to evaluate period-to-period comparisons. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that these non-GAAP financial measures are appropriate measures of operating performance because they remove the impact of certain items that we believe do not directly reflect our core operations, and permit investors to view performance using the same tools that we use to budget, forecast, make operating and strategic decisions, and evaluate historical performance.
Global-e’s definition of Non-GAAP measures may differ from the definition used by other companies and therefore comparability may be limited. In addition, other companies may not publish these metrics or similar metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.
For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.
Cautionary Note Regarding Forward Looking Statements
This press release contains estimates and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future strategy and projected revenue, GMV, Adjusted EBITDA and other future financial and operational results, growth strategy and plans and objectives of management for future operations, including, among others, expansion in new and existing markets as well as anticipated trends and challenges in our business and the markets in which we operate, are forward-looking statements. As the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Global-e believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, our rapid growth and growth rates in recent periods may not be indicative of future growth; the ability to retain merchants or the GMV generated by such merchants; the ability to retain existing, and attract new merchants; our business acquisitions and ability to effectively integrate acquired businesses; our ability to anticipate merchant needs or develop or acquire new functionality or enhance our existing platforms to meet those needs; our ability to implement and use artificial intelligence and machine learning technologies successfully; our ability to compete in our industry; our reliance on third-parties, including our ability to realize the benefits of any strategic alliances, joint ventures, or partnership arrangements and to integrate our platforms with third-party platforms; our ability to develop or maintain the functionality of our platforms, including real or perceived errors, failures, vulnerabilities, or bugs in our platforms; our history of net losses; our ability to manage our growth and manage expansion into additional markets; increased attention to ESG matters and our ability to manage such matters; our ability to accommodate increased volumes during peak seasons and events; our ability to effectively expand our marketing and sales capabilities; our expectations regarding our revenue, expenses and operations; our ability to operate internationally; our reliance on third-party services, including third-party providers of cross-docking services and third-party data centers, in our platforms and services and harm to our reputation by our merchants’ or third-party service providers’ unethical business practices; our ability to adapt to changes in mobile devices, systems, applications, or web browsers that may degrade the functionality of our platforms; our operation as a merchant of record for sales conducted using our platform; regulatory requirements and additional fees related to payment transactions through our e-commerce platforms could be costly and difficult to comply with; compliance and third-party risks related to anti-money laundering, anti-corruption, anti-bribery, regulations, economic sanctions and export control laws and import regulations and restrictions; our business’s reliance on the personal importation model; our ability to securely store personal information of merchants and shoppers; increases in shipping rates; fluctuations in the exchange rate of foreign currencies has impacted and could continue to impact our results of operations; our ability to offer high quality support; our ability to expand the number of merchants using our platforms and increase our GMV and to enhance our reputation and awareness of our platforms; our dependency on the continued use of the internet for commerce; our ability to adapt to emerging or evolving regulatory developments, changing laws, regulations, standards and technological changes related to privacy, data protection, data security and machine learning technology and generative artificial intelligence evolves; the effect of the situation in Ukraine on our business, financial condition and results of operations; our role in the fulfilment chain of the merchants, which may cause third parties to confuse us with the merchants; our ability to establish and protect intellectual property rights; and our use of open-source software which may pose particular risks to our proprietary software technologies; our dependency on our executive officers and other key employees and our ability to hire and retain skilled key personnel, including our ability to enforce non-compete agreements we enter into with our employees; litigation for a variety of claims which we may be subject to; the adoption by merchants of a direct to consumer model; our anticipated cash needs and our estimates regarding our capital requirements and our needs for additional financing; our ability to maintain our corporate culture; our ability to maintain an effective system of disclosure controls and internal control over financial reporting; our ability to accurately estimate judgments relating to our critical accounting policies; changes in tax laws or regulations to which we are subject, including the enactment of legislation implementing changes in taxation of international business activities and the adoption of other corporate tax reform policies; requirements to collect sales or other taxes relating to the use of our platforms and services in jurisdictions where we have not historically done so; global events such as war, health pandemics, climate change, macroeconomic events and the recent economic slowdown; risks relating to our ordinary shares, including our share price, the concentration of our share ownership with insiders, our status as a foreign private issuer, provisions of Israeli law and our amended and restated articles of association and actions of activist shareholders; risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 27, 2025 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
About Global-E Online Ltd.
Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,500 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: http://www.global-e.com.
Investor Contact:
Alan Katz
Global-e Investor Relations
[email protected]
Press Contact:
Sarah Schloss
Headline Media
[email protected]
+1 786-233-7684
Global-E Online Ltd.
CONSOLIDATED BALANCE SHEETS
(In thousands)
Period Ended December 31, December 31, 2024 2025 (Audited) (Unaudited)Assets Current assets: Cash and cash equivalents$254,620 $245,860 Short-term deposits 183,475 302,829 Accounts receivable, net 41,171 55,706 Prepaid expenses and other current assets 84,613 126,470 Marketable securities 36,345 74,147 Funds receivable, including cash in banks 122,984 181,650 Total current assets 723,208 986,662 Property and equipment, net 10,440 11,234 Operating lease right-of-use assets 24,429 20,496 Deferred contract acquisition and fulfillment costs, noncurrent 3,787 4,242 Long-term investments and other long-term assets 8,313 11,838 Commercial agreement asset 66,527 531 Goodwill 367,566 375,399 Intangible assets, net 59,212 52,385 Total long-term assets 540,274 476,125 Total assets$1,263,482 $1,462,787 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable$79,559 $91,585 Accrued expenses and other current liabilities 141,551 231,665 Funds payable to Customers 122,984 181,650 Short term operating lease liabilities 4,347 5,053 Total current liabilities 348,441 509,953 Long-term liabilities: Long term operating lease liabilities 20,510 18,449 Deferred tax liabilities, net – 286 Other long-term liabilities 1,098 1,415 Total liabilities$370,049 $530,103 Shareholders’ equity: Share capital and additional paid-in capital 1,425,317 1,466,231 Accumulated comprehensive income 515 2,800 Accumulated deficit (532,399) (536,347)Total shareholders’ equity 893,433 932,684 Total liabilities and shareholders’ equity$1,263,482 $1,462,787
Global-E Online Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited) (Unaudited)Revenue$262,912 $336,657 $752,764 $962,195 Cost of revenue 144,253 181,809 413,331 525,946 Gross profit 118,659 154,848 339,433 436,249 Operating expenses: Research and development 28,284 33,064 105,487 122,755 Sales and marketing 70,936 43,842 250,661 190,136 General and administrative 14,257 14,676 51,213 51,688 Total operating expenses 113,477 91,582 407,361 364,579 Operating profit (loss) 5,182 63,266 (67,928) 71,670 Financial expenses, net 6,073 916 11,465 1,171 Profit (loss) before income taxes (891) 62,350 (79,393) 70,499 Income taxes (benefit) expenses (2,400) (102) (3,845) 2,229 Net profit (loss) attributable to ordinary shareholders$1,509 $62,452 $(75,548) $68,270 Net profit (loss) per share attributable to ordinary shareholders, basic$0.01 $0.37 $(0.45) $0.40 Net profit (loss) per share attributable to ordinary shareholders, diluted$0.01 $0.35 $(0.45) $0.39 Weighted-average shares used in computing net profit (loss) per share attributable to ordinary shareholders, basic 168,419,800 170,143,127 167,323,350 169,893,221 Weighted-average shares used in computing net profit (loss) per share attributable to ordinary shareholders, diluted 175,674,929 176,074,208 167,323,350 175,987,463
Global-E Online Ltd.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited) (Unaudited)Operating activities Net profit (loss)$1,509 $62,452 $(75,548) $68,270 Adjustments to reconcile net profit (loss) to net cash provided by operating activities: Depreciation 547 611 2,131 2,323 Share-based compensation expense 9,538 10,171 39,158 39,345 Commercial agreement asset 37,433 8,026 148,594 65,996 Amortization of intangible assets 4,402 5,034 18,812 18,660 Unrealized loss (gain) on foreign currency 3,554 (2,311) 4,468 (10,982)Changes in accrued interest and exchange rate on short-term deposits (1,373) (371) (1,329) (3,146)Accounts receivable 15,924 (22,083) (13,330) (14,374)Prepaid expenses and other assets (24,164) (29,508) (18,019) (35,994)Funds receivable 8,726 (577) (3,205) (6,714)Long-term receivables 415 215 751 (391)Funds payable to customers 2,564 74,439 11,752 58,667 Operating lease ROU assets 991 982 3,691 3,976 Deferred contract acquisition costs (322) (283) (1,382) (688)Accounts payable 37,176 35,230 28,617 11,979 Accrued expenses and other liabilities 35,945 75,456 34,272 88,689 Deferred taxes (2,592) (436) (6,507) (436)Operating lease liabilities (987) (471) (3,533) (1,398)Net cash provided by (used in) operating activities 129,286 216,576 169,393 283,782 Investing activities Investment in marketable securities (18,331) (16,218) (21,128) (39,502)Proceeds from marketable securities 2,028 684 4,988 3,950 Purchases of short-term investments (74,001) (140,800) (265,754) (422,478)Purchases of long-term investments (307) (3,002) (1,459) (3,136)Proceeds from short-term investments 22,298 81,000 180,548 301,316 Proceeds from long-term investments 24 – 24 – Purchases of property and equipment (482) (396) (2,335) (3,099)Payments for business combinations, net of cash acquired – – – (17,757)Net cash provided by (used in) investing activities (68,771) (78,732) (105,116) (180,706)Financing activities Exercise of Warrants to ordinary shares 3 – 5 – Repurchase of shares – (72,217) – (72,217)Proceeds from exercise of share options 1,632 408 3,271 1,392 Net cash provided by (used in) financing activities 1,635 (71,809) 3,276 (70,825)Exchange rate differences on balances of cash, cash equivalents and restricted cash (3,554) 2,311 (4,468) 10,982 Net increase (decrease) in cash, cash equivalents, and restricted cash 58,596 68,346 63,085 43,233 Cash and cash equivalents and restricted cash — beginning of period 273,086 306,569 268,597 331,682 Cash and cash equivalents and restricted cash — end of period$331,682 $374,915 $331,682 $374,915
Global-E Online Ltd.
SELECTED OTHER DATA
(In thousands)
Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited) (Unaudited)Key performance metrics Gross Merchandise Value 1,712,903 2,360,577 4,857,970 6,569,148 Adjusted EBITDA(a) 57,102 87,234 140,767 198,529 Revenue by Category Service fees 117,268 45% 160,914 48% 350,311 47% 451,205 47%Fulfillment services 145,644 55% 175,743 52% 402,453 53% 510,990 53%Total revenue$262,912 100% $336,657 100% $752,764 100% $962,195 100% Revenue by merchant outbound region United States 146,250 56% 176,540 52% 399,596 53% 507,094 53%United Kingdom 55,807 21% 63,211 19% 182,904 24% 193,959 20%European Union 44,469 17% 61,596 18% 125,547 17% 175,568 18%Israel 1,671 1% 1,721 1% 2,746 0% 3,748 0%Other14,715 5% 33,589 10% 41,971 6% 81,826 9%Total revenue$262,912 100% $336,657 100% $752,764 100% $962,195 100%
(a) See reconciliation to adjusted EBITDA table
Global-E Online Ltd.
RECONCILIATION TO Non-GAAP GROSS PROFIT
(In thousands) Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited)Gross Profit 118,659 154,848 339,433 436,249 Amortization of acquired intangibles included in cost of revenue 2,198 2,630 9,994 9,511 Non-GAAP gross profit 120,857 157,478 349,427 445,760
Global-E Online Ltd.
RECONCILIATION TO ADJUSTED EBITDA
(In thousands)
Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited) Net profit (loss) 1,509 62,452 (75,548) 68,270 Income tax (benefit) expenses (2,400) (102) (3,845) 2,229 Financial expenses, net 6,073 916 11,465 1,171 Stock-based compensation: Cost of revenue 275 256 929 1,044 Research and development 4,153 4,520 17,291 17,325 Selling and marketing 1,528 1,671 5,836 6,386 General and administrative 3,582 3,724 15,102 14,590 Total stock-based compensation 9,538 10,171 39,158 39,345 Depreciation and amortization 547 611 2,131 2,323 Commercial agreement asset amortization37,433 8,026 148,594 65,996 Amortization of acquired intangibles4,402 5,034 18,812 18,660 Merger related to contingent consideration- 126 – 210 Acquisition related expenses- – – 325 Adjusted EBITDA 57,102 87,234 140,767 198,529
Global-E Online Ltd.
RECONCILIATION TO FREE CASH FLOW
(In thousands)
Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited) (Unaudited) Net cash (used in) provided by operating activities 129,286 216,576 169,393 283,782 Purchase of property and equipment (482) (396) (2,335) (3,099)Free Cash Flow 128,804 216,180 167,058 280,683
Global-E Online Ltd.
RECONCILIATION TO NON-GAAP NET PROFIT AND NON-GAAP NET PROFIT PER SHARE
(In thousands)
Three Months Ended Year Ended December 31, December 31, 2024 2025 2024 2025 (Unaudited)Net profit (loss)$1,509 $62,452 $(75,548) $68,270Stock-based compensation 9,538 10,171 39,158 39,345Commercial agreement asset amortization 37,433 8,026 148,594 65,996Amortization of acquired intangibles 4,402 5,034 18,812 18,660Merger related to contingent consideration – 126 – 210Acquisition related expenses – – – 325Non-GAAP net profit$52,882 $85,809 $131,016 $192,806 Non-GAAP net profit per share, basic$0.31 $0.50 $0.78 $1.13Non-GAAP net profit per share, diluted$0.30 $0.49 $0.75 $1.10Weighted-average shares used in computing Non-GAAP net profit per share attributable to ordinary shareholders, basic 168,419,800 170,143,127 167,323,350 169,893,221Weighted-average shares used in computing Non-GAAP net profit per share attributable to ordinary shareholders, diluted 175,674,929 176,074,208 174,500,842 175,987,463
