Key Highlights

● Second-quarter GMV rose 44% to US$2,089 million and revenue rose 39% to US$299.0 million.

● Adjusted EBITDA rose 62% to US$62.4 million, a 20.9% margin.

● Full-year revenue guidance rose to US$1,305 million to US$1,355 million.

● Management completed a US$200 million buyback and approved a new US$500 million authorisation.

Latest verified development

Global-e Online Ltd. (NASDAQ:GLBE), which helps merchants sell to shoppers abroad, reported second-quarter results on 12 August 2026 and raised its 2026 outlook on every guidance metric. A later management change saw Tomer Gold, previously head of the SMB and channel division, become Chief Revenue Officer from 1 October 2026.

Second-quarter results

Gross merchandise value (GMV) rose 44% to US$2,089 million. Revenue rose 39% to US$299.0 million, split between service fees of US$139.4 million and fulfilment services of US$159.6 million.

Adjusted EBITDA increased 62% to US$62.4 million, a margin of 20.9%. GAAP net income was US$47.7 million, while non-GAAP net profit was US$64.9 million. Free cash flow was US$73.2 million, up from US$63.5 million a year earlier. Chief executive Amir Schlachet described it as another very strong quarter.

Fulfilment services made up about 53% of revenue, so the mix leans toward logistics.

The raised outlook

The new full-year ranges, forecasts rather than results, are GMV of US$8.81 billion to US$9.11 billion, revenue of US$1,305 million to US$1,355 million and adjusted EBITDA of US$278 million to US$300 million. The prior ranges were US$8.53 billion to US$8.88 billion, US$1,220 million to US$1,280 million and US$264.5 million to US$289.5 million.

For the third quarter the company guided GMV of US$1,995 million to US$2,045 million, revenue of US$308.5 million to US$315.5 million and adjusted EBITDA of US$58.5 million to US$62.5 million. The outlook includes Passport, a US e-commerce logistics business whose acquisition was completed on 1 July 2026, contributing about US$60 million of GMV and US$55 million to US$59 million of revenue in the second half.

Margins and risks

On the earnings call, non-GAAP gross margin was said to have fallen to 45.3% from 46.5%, mainly because of higher and more volatile fuel costs that Global-e partly absorbed rather than passing to merchants. Management also said it had completed a US$200 million buyback and that its board had approved a new US$500 million authorisation.

Management expects the core service-fee take rate to stay fairly stable in the second half, excluding Passport, and said research and development spending excluding share-based pay rose 16% while GMV grew more than 40%, which it credited to AI-driven efficiencies. It also expects Passport to generate over US$100 million of revenue in 2026, and said the unit recently became adjusted EBITDA and cash-flow positive.

Passport adds asset-light logistics, but integrating it and the pace of customer adoption of duty-drawback services are execution questions.

Passport, fuel costs and the third-quarter ranges

Shopify (NASDAQ:SHOP) Managed Markets V2 expanded to Canada and the UK, and the migration of merchants from the first version is complete.

Fuel costs pulled non-GAAP gross margin down to 45.3% from 46.5%, while Passport is guided to add US$55 million to US$59 million of second-half revenue, and those two lines will shape how much of the raised revenue range of US$1,305 million to US$1,355 million converts to profit.