Global-e Online Ltd. (NASDAQ:GLBE) reported record financial results for 2025 on February 18, 2026, highlighted by strong fourth-quarter momentum and an upgraded growth outlook for the year ahead.
In the fourth quarter, gross merchandise value (GMV) rose 37.8% year over year to $2.36 billion, while revenue increased 28% to $336.7 million. Adjusted EBITDA climbed 53% to $87.2 million, and free cash flow surged 68% to $216.2 million.
For the full year, GMV expanded 35% to $6.57 billion. Revenue advanced 28% to $962.2 million, and adjusted EBITDA improved 41% to $198.5 million, exceeding the company’s prior guidance and reflecting improving operating leverage.
Management said Global-e is tracking slightly ahead of the multi-year strategic roadmap introduced in March 2025. Growth has been supported by expanded AI-powered capabilities, the rollout of Shopify’s Managed Markets 2.0 for U.S. merchants, and the implementation of agentic commerce workflows.
The company also broadened its merchant network and geographic footprint, onboarding new brands across North America, Europe and the Asia-Pacific region. It strengthened partnerships with existing clients including Logitech and Zimmermann, executed $72 million in share repurchases during the fourth quarter, and issued 2026 guidance that points to revenue growth accelerating to nearly 30%, alongside further margin and cash flow expansion.
From a financial perspective, the company’s profile is underpinned by strong cash generation and modest leverage, reinforced by a bullish earnings call and raised outlook. However, these positives are partially offset by weaker technical indicators, including a downtrend and bearish MACD signal, as well as valuation concerns given a very high price-to-earnings ratio and the absence of a dividend.
More about Global-e Online
Global-e Online Ltd., headquartered in Petah Tikva, Israel, operates a technology platform that enables brands and retailers to manage global direct-to-consumer e-commerce. The Nasdaq-listed firm generates revenue primarily through service and fulfillment fees, facilitating cross-border online transactions and offering value-added services such as duty recovery, localized checkout, and integrations with partners including Shopify and major social commerce platforms.