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The Manager believes companies undergoing Positive Dynamic Change offer the best opportunities and demonstrate promising growth potential. Positive Dynamic Change refers to companies realizing High Unit Volume Growth or companies undergoing Positive Lifecycle Change. High Unit Volume Growth companies are traditional growth companies experiencing, for example, rapidly growing demand or market dominance. Positive Lifecycle Change companies are, for example, companies benefitting from new regulations, a new product innovation or new management. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization that it believes will benefit from artificial intelligence (AI), demonstrate promising growth potential, and are companies where AI can play a material role in potentially driving stock price performance over the next twelve to thirty-six months. Equity securities include common or preferred stocks listed on U.S. or foreign exchanges.

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Alger AI Enablers & Adopters ETF

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The Alger ETF Trust Alger AI Enablers & Adopters ETF

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Global-E Online shares rise after reporting strong Q3 results with 32% sales growth, $1.13 billion GMV, and raising outlook. Adjusted EBITDA up, operating loss down. FY24 revenue guidance raised. 

Global-E Soars: Q3 Sales Surge 32%, FY24 Outlook Raised Amid GMV Boom

Global-E Online Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBE#NASDAQ">GLBE</a>) shares are trading higher after the company reported third-quarter&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42084644/global-e-reports-third-quarter-2024-results" rel="noreferrer noopener">results and raised its FY24 outlook</a>.



Sales grew&nbsp;32%&nbsp;year over year to&nbsp;$176&nbsp;million, beating the analyst consensus estimate of&nbsp;$169.16 million.



Gross Merchandise Value (GMV) rose&nbsp;35%&nbsp;Y/Y to&nbsp;$1.13&nbsp;billion in the quarter. The company reported $82.6&nbsp;million in service fees and $93.4&nbsp;million in fulfillment services revenue&nbsp;in the quarter.



Non-GAAP gross profit increased&nbsp;to&nbsp;$82.3&nbsp;million (+39% Y/Y), and non-GAAP gross margin expanded 240&nbsp;basis points Y/Y to 46.8%.



Adjusted EBITDA rose to $31.1&nbsp;million from $22.1&nbsp;million a year ago. The company&#8217;s operating loss narrowed to&nbsp;$21.0 million from $35.6 million.



Loss per share was&nbsp;$0.13,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus loss of&nbsp;$0.15.</a>



Outlook: For the fourth quarter, Global-e Online projects GMV of $1.615 billion – $1.685 billion and revenue of $243 million and <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">$255 million vs. $246.27 million estimate</a>.



The company raised its FY24 revenue guidance to $732.9 million &nbsp;&#8211;&nbsp;$744.9 million (from $710 million – $750 million), vs. the consensus <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40368862/why-is-marketing-solutions-provider-global-e-onlines-stock-diving-today" rel="noreferrer noopener">of $730.72 million</a>.



Founder and CEO Amir Schlachet said, &#8220;We report today the results of another very strong quarter, with growth of GMV accelerating to 35% year over year and many new merchants going live ahead of the holiday season, including the iconic luxury department store Harrods.&#8221;



&#8220;Given the successful merchant launches in the recent months, combined with our new bookings for this year which are at an all-time high, we believe that this strong growth momentum will continue.&#8221;



Investors can gain exposure to the stock via&nbsp;Amplify ETF Trust Amplify BlueStar Israel Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITEQ#NYSE">ITEQ</a>) and The Alger ETF Trust Alger AI Enablers &amp; Adopters ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALAI#NYSE">ALAI</a>).



Price Action: GLBE shares are&nbsp;up 12.9% at $48.28 at the last check Wednesday.



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Latest The Alger ETF Trust Alger AI Enablers & Adopters ETF News | ARCA:ALAI | Benzinga

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