Why Global-E Online (GLBE) Shares Are Surging Today - Global E Online (NASDAQ:GLBE)

Global-E Online Ltd GLBE reported second-quarter FY22 revenue growth of 52% year-on-year to $87.31 million, beating the consensus of $83.46 million.
Gross Merchandise Value (GMV) rose 64% Y/Y to $534 million.
Service fees revenue grew by 86.3%, and Fulfillment fees increased by 32.6%.
Non-GAAP gross profit increased 77% Y/Y to $36.5 million, and the margin expanded 580 basis points Y/Y to 41.8%.
The company's operating loss widened to $(49.3) million. Adjusted EBITDA of $11.1 million increased 46.1% Y/Y.
Loss per share was $(0.31), missing the consensus of $(0.30).
The company held $287 million in cash and equivalents as of June 30, 2022.
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Outlook: Global-E Online raised FY22 sales guidance to $406 million - $426 million (prior $383 million - $403 million), versus the consensus of $390.41 million.
For Q3, it sees revenue of $99.5 million – $102.5 million versus the consensus of $93.86 million.
Price Action: GLBE shares are trading higher by 27.25% at $34.79 on the last check Tuesday.

Why Global-E Online Shares Are Surging Today