Global-E Online Stock Gains After Q2 Revenue Beat, Solid Outlook

Global-E Online Ltd GLBE reported second-quarter FY21 revenue growth of 92% year-on-year, to $57.29 million, beating the analyst consensus of $47.61 million.
Gross Merchandise Value (GMV) rose 95% Y/Y to $326 million.
Service fees revenue grew by 104%, and Fulfillment fees increased by 86%.
The gross profit increased 113.1% Y/Y to $20.6 million, and the gross margin expanded 360 basis points Y/Y to 36%.
The company incurred an operating loss of $(19.5) million.
Adjusted EBITDA of $7.6 million increased 145.2% Y/Y.
Loss per share was $(0.25), versus $(0.02) last year.
The company held $394.37 million in cash and equivalents as of June 30, 2021.
Outlook: Global-E Online raised FY21 sales guidance to $227 million - $231 million (prior $209 million - $213.5 million), versus the consensus of $210.95 million.
For Q3, it sees revenue of $54.3 million – $56.3 million versus the consensus of $48.44 million.
Price Action: GLBE shares are trading higher by 5.59% at $72.10 in premarket on the last check Tuesday.

Earnings Calendar