Global-E Online (GLBE) financial statements
Global-E Online reported revenue of $962M in fiscal 2025, up 56.4% a year over 6 years.
Net income was $68M and the operating margin 7.4%, against -7.5% in 2019.
Free cash flow was $281M.
The diluted share count rose 795% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Global-E Online's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $66M | $136M | $245M | $409M | $570M | $753M | $962M |
| Cost of revenue | $47M | $93M | $154M | $251M | $336M | $413M | $526M |
| Gross profit | $19M | $43M | $91M | $158M | $234M | $339M | $436M |
| Research and development | $12M | $15M | $30M | $81M | $98M | $105M | $123M |
| Selling, general and admin | $12M | $20M | $127M | $266M | $273M | $302M | $242M |
| Operating income | -$5M | $8M | -$66M | -$189M | -$137M | -$68M | $72M |
| Pre-tax income | -$8M | $4M | -$74M | -$201M | -$132M | -$79M | $70M |
| Income tax | $34,000 | $160,000 | $705,000 | -$6M | $2M | -$4M | $2M |
| Net income | -$8M | $4M | -$75M | -$195M | -$134M | -$76M | $68M |
| EPS (diluted) | -$0.38 | $0.03 | -$0.74 | -$1.24 | -$0.81 | -$0.45 | $0.39 |
| Diluted shares | 20M | 29M | 102M | 158M | 164M | 167M | 176M |
| Gross margin | 28.3% | 31.9% | 37.3% | 38.7% | 41.0% | 45.1% | 45.3% |
| Operating margin | -7.5% | 6.2% | -26.8% | -46.3% | -24.0% | -9.0% | 7.4% |
| Net margin | -11.5% | 2.9% | -30.6% | -47.8% | -23.5% | -10.0% | 7.1% |
Balance sheet
Fiscal years, from Global-E Online's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $5M | $86M | $467M | $182M | $220M | $291M | $320M |
| Receivables | — | $4M | $9M | $16M | $28M | $41M | $56M |
| Total current assets | — | $153M | $622M | $375M | $520M | $723M | $987M |
| Property, plant and equipment | — | $717,000 | $3M | $10M | $10M | $10M | $11M |
| Goodwill | — | — | $0 | $368M | $368M | $368M | $375M |
| Total assets | — | $161M | $846M | $1.2B | $1.2B | $1.3B | $1.5B |
| Total current liabilities | — | $84M | $132M | $210M | $274M | $348M | $510M |
| Total liabilities | — | $93M | $150M | $234M | $300M | $370M | $530M |
| Shareholders' equity | -$53M | -$45M | $696M | $928M | $902M | $893M | $933M |
| Net debt | -$5M | -$69M | -$449M | -$165M | -$200M | -$255M | -$246M |
Cash flow
Fiscal years, from Global-E Online's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $7M | $29M | $18M | $89M | $108M | $169M | $284M |
| Capital spending | $264,000 | $456,000 | $3M | $8M | $2M | $2M | $3M |
| Free cash flow | $7M | $29M | $15M | $81M | $106M | $167M | $281M |
| Stock-based compensation | $221,000 | $4M | $12M | $39M | $45M | $39M | $39M |
| Free cash flow margin | 10.3% | 21.2% | 6.2% | 19.8% | 18.7% | 22.2% | 29.2% |
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Open GLBE in InvestinglyQuestions
What was Global-E Online's revenue in 2025?
$962M in fiscal 2025, from its 10-K filing.
How much free cash flow does Global-E Online generate?
$281M in fiscal 2025 (operating cash flow minus capital spending).
From Global-E Online's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.