Revenue and margins Net income Cash flow Dividends and buybacks Balance sheet Returns on capital F-score

Sections

Global-E Online Ltd.

GLBE Nasdaq Services-Prepackaged Software Financials FY2019–FY2025

Global-e provides online services that help brands and retailers sell to shoppers in other countries. Its platform adapts merchants’ online stores for local markets, with local languages, prices, payment methods, shipping, customs duties and taxes, customer service and returns. It also offers demand generation to bring interested shoppers to merchants’ websites and a service that helps merchants reclaim duties and taxes on returned goods. Shopify Managed Markets, powered by Global-e, gives Shopify merchants access to its international sales services.

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Today: 1.6%
Previous close: $41.05
Market cap: $7.3B
P/E: 106.9x

Day range: $40.99 $41.94
52-week range: $27.54 $44.93

Last close · Nov 13, 2026

$41.71

+$6.07 (+17.02%) past year

Results coming up

Results in 3 days

Global-E Online Ltd. will publish its results for the period ended Sep 30, 2026 on Wednesday November 18, 2026.

November 18, 2026
Before the market opens
Date from the earnings calendar

Analysts expect EPS of $0.25

Consensus estimate, usually adjusted, so it may differ from the reported (GAAP) figure.

Last results Mar 26, 2026

Share prices often move a lot around results. Dates can change: the company’s own announcement is final. Not investment advice.

Latest fiscal year

FY25 results

+27.8%

Revenue vs FY24

Fiscal year ended December 31, 2025

See every year

Line	FY24	FY25	Change (y/y)
Revenue	$753M	$962M	27.8%
Net income	−$75.5M	$68.3M	—
Diluted EPS	−$0.45	$0.39	—
Operating margin	−9.0%	7.4%	16.5 pts
Free cash flow	$167M	$281M	68.0%

Earnings calendar · Global-E Online Ltd.

Every quarter, companies publish how much they sold and earned. These are the days Global-E Online Ltd. did it, and the next one. Share prices often move a lot on those days.

Next results

November 18, 2026

Wednesday · in 3 days

Time: Before the market opens
Covers: Period ended Sep 30, 2026
Expected EPS: $0.25
Source: Earnings calendar

See who else reports that week →

Date	Results for	Time	Source
Mar 26, 2026	Period ended Dec 31, 2025	After the market closes	20-F ↗
Mar 27, 2025	Period ended Dec 31, 2024	After the market closes	20-F ↗
Mar 28, 2024	Period ended Dec 31, 2023	After the market closes	20-F ↗
Mar 31, 2023	Period ended Dec 31, 2022	After the market closes	20-F ↗
Mar 28, 2022	Period ended Dec 31, 2021	After the market closes	20-F ↗

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

Key numbers, fiscal 2025

Market cap

$7.3B

Nov 13 close

P/E

106.9x

On $0.39 EPS (TTM)

Revenue and margins

KIRA summarises the numbers

Global-E Online Ltd. had $962M of revenue in fiscal 2025, up 27.8% on the year before.

Over five years, revenue changed +47.8% a year on average.
Its operating margin was 7.4%, up 16.5 pts: of every 100 in sales, about 7 is left after running the business.

Revenue

FY19

Revenue $65.9M

FY20

Revenue $136M

FY21

Revenue $245M

FY22

Revenue $409M

FY23

Revenue $570M

FY24

Revenue $753M

FY25

Revenue $962M

Margins, % of revenue

FY19

Gross 28.3%

Operating −7.5%

Net −11.5%

FCF 10.3%

FY20

Gross 31.9%

Operating 6.2%

Net 2.9%

FCF 21.2%

FY21

Gross 37.3%

Operating −26.8%

Net −30.6%

FCF 6.2%

FY22

Gross 38.7%

Operating −46.3%

Net −47.8%

FCF 19.8%

FY23

Gross 41.0%

Operating −24.0%

Net −23.5%

FCF 18.7%

FY24

Gross 45.1%

Operating −9.0%

Net −10.0%

FCF 22.2%

FY25

Gross 45.3%

Operating 7.4%

Net 7.1%

FCF 29.2%

Gross Operating Net FCF

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Net income and earnings per share

Loss periods are shown in red.

KIRA summarises the numbers

Global-E Online Ltd. made $68.3M of net profit in fiscal 2025.

Net income

FY19

Net income −$7.5M

FY20

Net income $3.9M

FY21

Net income −$74.9M

FY22

Net income −$195M

FY23

Net income −$134M

FY24

Net income −$75.5M

FY25

Net income $68.3M

Diluted EPS

FY19

Diluted EPS −$0.38

FY20

Diluted EPS $0.03

FY21

Diluted EPS −$0.74

FY22

Diluted EPS −$1.24

FY23

Diluted EPS −$0.81

FY24

Diluted EPS −$0.45

FY25

Diluted EPS $0.39

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Cash flow

Cash from operations minus capital spending.

KIRA summarises the numbers

Free cash flow was $281M in fiscal 2025, 29.2% of revenue.

Free cash flow

FY19

Free cash flow $6.8M

FY20

Free cash flow $28.9M

FY21

Free cash flow $15.3M

FY22

Free cash flow $81.0M

FY23

Free cash flow $106M

FY24

Free cash flow $167M

FY25

Free cash flow $281M

Cash from operations vs capital spending

FY19

Cash from operations $7.0M

Capital spending $0.3M

FY20

Cash from operations $29.4M

Capital spending $0.5M

FY21

Cash from operations $18.2M

Capital spending $2.9M

FY22

Cash from operations $89.3M

Capital spending $8.4M

FY23

Cash from operations $108M

Capital spending $1.7M

FY24

Cash from operations $169M

Capital spending $2.3M

FY25

Cash from operations $284M

Capital spending $3.1M

Cash from operations Capital spending

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

Dividends, buybacks and share count

Dividends and buybacks

FY19

Dividends —

Buybacks —

FY20

Dividends —

Buybacks —

FY21

Dividends —

Buybacks —

FY22

Dividends —

Buybacks —

FY23

Dividends —

Buybacks —

FY24

Dividends —

Buybacks —

FY25

Dividends —

Buybacks —

Dividends Buybacks

Diluted shares outstanding (annual)

FY19

Diluted shares 0.02B

FY20

Diluted shares 0.03B

FY21

Diluted shares 0.10B

FY22

Diluted shares 0.16B

FY23

Diluted shares 0.16B

FY24

Diluted shares 0.17B

FY25

Diluted shares 0.18B

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.

KIRA summarises the numbers

In the last 12 months, insiders sold $61.1M of shares on the open market and bought none.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$61.1M

4 insiders

Of sales under plans

99%

$60.5M

Date	Insider	Trade	Shares	Price	Value	Filing
Nov 5, 2026	Shahar TamariCOO, Director	Sold plan	271	$45.04	$0.0M	Form 4
Nov 5, 2026	Nir DebbiPresident, Director	Sold plan	18,069	$44.51	$0.8M	Form 4
Nov 4, 2026	Ofer KorenCFO	Sold	12,500	$44.00	$0.6M	Form 4
Nov 4, 2026	Nir DebbiPresident, Director	Sold plan	100,000	$44.59	$4.5M	Form 4
Nov 4, 2026	Shahar TamariCOO, Director	Sold plan	27,957	$44.48	$1.2M	Form 4
Nov 3, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$41.39	$1.0M	Form 4
Nov 2, 2026	Nir DebbiPresident, Director	Sold plan	14,582	$43.22	$0.6M	Form 4
Oct 19, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$39.54	$1.0M	Form 4
Oct 16, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$39.04	$1.0M	Form 4
Oct 15, 2026	Nir DebbiPresident, Director	Sold plan	14,582	$39.81	$0.6M	Form 4
Oct 5, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$39.87	$1.0M	Form 4
Oct 2, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$39.14	$1.0M	Form 4
Oct 1, 2026	Nir DebbiPresident, Director	Sold plan	14,582	$40.18	$0.6M	Form 4
Sep 22, 2026	Ofer KorenCFO	Sold plan	50,000	$41.23	$2.1M	Form 4
Sep 21, 2026	Nir DebbiPresident, Director	Sold plan	12,272	$39.56	$0.5M	Form 4
Sep 18, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$38.03	$1.0M	Form 4
Sep 17, 2026	Amir SchlachetCEO, Director	Sold plan	12,143	$38.28	$0.5M	Form 4
Sep 17, 2026	Ofer KorenCFO	Sold plan	12,200	$38.07	$0.5M	Form 4
Sep 17, 2026	Amir SchlachetCEO, Director	Sold plan	12,856	$37.38	$0.5M	Form 4
Sep 16, 2026	Nir DebbiPresident, Director	Sold plan	8,332	$36.89	$0.3M	Form 4
Sep 14, 2026	Ofer KorenCFO	Sold plan	300	$38.00	$0.0M	Form 4
Sep 8, 2026	Ofer KorenCFO	Sold plan	12,500	$36.67	$0.5M	Form 4
Sep 4, 2026	Nir DebbiPresident, Director	Sold plan	228	$39.21	$0.0M	Form 4
Sep 3, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$38.41	$1.0M	Form 4
Sep 2, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$38.24	$1.0M	Form 4
Sep 1, 2026	Nir DebbiPresident, Director	Sold plan	8,332	$37.23	$0.3M	Form 4
Aug 19, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$41.63	$1.0M	Form 4
Aug 18, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$41.37	$1.0M	Form 4
Aug 17, 2026	Nir DebbiPresident, Director	Sold plan	14,582	$41.18	$0.6M	Form 4
Aug 14, 2026	Amir SchlachetCEO, Director	Sold plan	81,556	$42.30	$3.4M	Form 4
Aug 13, 2026	Amir SchlachetCEO, Director	Sold plan	100,000	$42.10	$4.2M	Form 4
Aug 12, 2026	Amir SchlachetCEO, Director	Sold plan	16,814	$42.41	$0.7M	Form 4
Aug 10, 2026	Amir SchlachetCEO, Director	Sold plan	322	$42.07	$0.0M	Form 4
Aug 7, 2026	Amir SchlachetCEO, Director	Sold plan	100,000	$42.20	$4.2M	Form 4
Aug 5, 2026	Amir SchlachetCEO, Director	Sold plan	1,308	$42.09	$0.1M	Form 4
Aug 5, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$41.59	$1.0M	Form 4
Aug 4, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$41.23	$1.0M	Form 4
Aug 3, 2026	Nir DebbiPresident, Director	Sold plan	14,582	$40.11	$0.6M	Form 4
Jul 17, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$37.98	$0.9M	Form 4
Jul 16, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$38.44	$1.0M	Form 4
Jul 16, 2026	Nir DebbiPresident, Director	Sold plan	600	$38.45	$0.0M	Form 4
Jul 15, 2026	Nir DebbiPresident, Director	Sold plan	82,190	$39.27	$3.2M	Form 4
Jul 14, 2026	Nir DebbiPresident, Director	Sold plan	6,642	$39.06	$0.3M	Form 4
Jul 10, 2026	Nir DebbiPresident, Director	Sold plan	150	$39.02	$0.0M	Form 4
Jul 6, 2026	Shahar TamariCOO, Director	Sold plan	24,999	$36.81	$0.9M	Form 4
Jul 2, 2026	Amir SchlachetCEO, Director	Sold plan	24,999	$37.09	$0.9M	Form 4
Jul 1, 2026	Nir DebbiPresident, Director	Sold plan	8,332	$35.82	$0.3M	Form 4
Jun 26, 2026	Shahar TamariCOO, Director	Sold plan	28,623	$36.02	$1.0M	Form 4
Jun 26, 2026	Amir SchlachetCEO, Director	Sold plan	58,331	$36.21	$2.1M	Form 4
Jun 25, 2026	Nir DebbiPresident, Director	Sold plan	5,180	$34.66	$0.2M	Form 4
Jun 25, 2026	Shahar TamariCOO, Director	Sold plan	15,235	$35.13	$0.5M	Form 4
Jun 24, 2026	Nir DebbiPresident, Director	Sold plan	6,890	$34.02	$0.2M	Form 4
Jun 18, 2026	Shahar TamariCOO, Director	Sold plan	2,110	$32.51	$0.1M	Form 4
Jun 17, 2026	Shahar TamariCOO, Director	Sold plan	14,556	$32.23	$0.5M	Form 4
Jun 16, 2026	Amir SchlachetCEO, Director	Sold plan	16,666	$32.18	$0.5M	Form 4
Jun 15, 2026	Nir DebbiPresident, Director	Sold plan	4,166	$32.47	$0.1M	Form 4
Jun 4, 2026	Shahar TamariCOO, Director	Sold plan	7,874	$33.09	$0.3M	Form 4
Jun 3, 2026	Shahar TamariCOO, Director	Sold plan	8,792	$31.55	$0.3M	Form 4
Jun 2, 2026	Amir SchlachetCEO, Director	Sold plan	16,666	$33.34	$0.6M	Form 4
Jun 2, 2026	Nir DebbiPresident, Director	Sold plan	449	$33.33	$0.0M	Form 4
Jun 1, 2026	Nir DebbiPresident, Director	Sold plan	9,233	$33.70	$0.3M	Form 4
Jun 1, 2026	Amir SchlachetCEO, Director	Sold plan	8,333	$33.58	$0.3M	Form 4
Jun 1, 2026	Shahar TamariCOO, Director	Sold plan	8,333	$33.59	$0.3M	Form 4
May 21, 2026	Nir DebbiPresident, Director	Sold plan	1,863	$30.25	$0.1M	Form 4
May 21, 2026	Shahar TamariCOO, Director	Sold plan	3,387	$30.26	$0.1M	Form 4
May 20, 2026	Nir DebbiPresident, Director	Sold plan	2,303	$30.01	$0.1M	Form 4
May 20, 2026	Shahar TamariCOO, Director	Sold plan	4,946	$30.02	$0.1M	Form 4
May 19, 2026	Amir SchlachetCEO, Director	Sold plan	8,333	$29.00	$0.2M	Form 4
May 7, 2026	Amir SchlachetCEO, Director	Sold plan	6,194	$32.45	$0.2M	Form 4
May 7, 2026	Shahar TamariCOO, Director	Sold plan	8,333	$32.45	$0.3M	Form 4
May 6, 2026	Amir SchlachetCEO, Director	Sold plan	1,022	$31.27	$0.0M	Form 4
May 6, 2026	Shahar TamariCOO, Director	Sold plan	8,333	$31.27	$0.3M	Form 4
May 5, 2026	Amir SchlachetCEO, Director	Sold plan	9,450	$31.68	$0.3M	Form 4
May 4, 2026	Nir DebbiPresident, Director	Sold plan	4,166	$32.57	$0.1M	Form 4
Apr 20, 2026	Shahar TamariCOO, Director	Sold plan	5,190	$33.06	$0.2M	Form 4
Apr 20, 2026	Nir DebbiPresident, Director	Sold plan	8	$34.16	$0.0M	Form 4
Apr 17, 2026	Shahar TamariCOO, Director	Sold plan	25,949	$34.79	$0.9M	Form 4
Apr 17, 2026	Nir DebbiPresident, Director	Sold plan	7,191	$34.67	$0.2M	Form 4
Apr 16, 2026	Nir DebbiPresident, Director	Sold plan	211	$34.09	$0.0M	Form 4
Apr 16, 2026	Amir SchlachetCEO, Director	Sold plan	16,666	$33.65	$0.6M	Form 4
Apr 15, 2026	Amir SchlachetCEO, Director	Sold plan	4,332	$33.09	$0.1M	Form 4
Apr 15, 2026	Shahar TamariCOO, Director	Sold plan	4,326	$33.09	$0.1M	Form 4
Apr 15, 2026	Nir DebbiPresident, Director	Sold plan	4,166	$33.06	$0.1M	Form 4
Apr 8, 2026	Shahar TamariCOO, Director	Sold plan	4,007	$32.26	$0.1M	Form 4
Apr 8, 2026	Amir SchlachetCEO, Director	Sold plan	4,001	$32.26	$0.1M	Form 4
Apr 6, 2026	Shahar TamariCOO, Director	Sold plan	8,333	$31.20	$0.3M	Form 4
Apr 2, 2026	Amir SchlachetCEO, Director	Sold plan	8,333	$30.94	$0.3M	Form 4
Apr 1, 2026	Nir DebbiPresident, Director	Sold plan	4,166	$31.26	$0.1M	Form 4
Mar 18, 2026	Shahar TamariCOO, Director	Sold plan	16,666	$33.81	$0.6M	Form 4
Mar 17, 2026	Amir SchlachetCEO, Director	Sold plan	16,666	$34.45	$0.6M	Form 4
Mar 16, 2026	Nir DebbiPresident, Director	Sold plan	8,332	$34.51	$0.3M	Form 4

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

Main shareholders

The latest shareholders Global-E Online Ltd. has reported to the SEC.

Insiders (directors and executives): 10.0%

Shareholder	Shares	Owned
Shopify Inc. and its affiliateOwns more than 5%	21,858,282	13.0%
Deutsche Post Beteiligungen Holding GmbHOwns more than 5%	18,336,774	10.9%
Dragoneer Investment Group, LLCOwns more than 5%	11,887,078	7.09%
Directors and executive officersCompany insiderAll of them together, as a group	16,773,332	10.0%
Other shareholdersEveryone else, the rest of the shares	—	58.9%
Directors and executive officers, one by one
Nir Debbi Company insider	5,711,389	3.41%
Amir Schlachet Company insider	5,376,670	3.21%
Shahar Tamari Company insider	5,233,628	3.12%
Ofer Koren Company insider	289,437	≈ 0.17%
Ran Fridman Company insider	68,743	≈ 0.04%
Anna J. Bakst Company insider	24,949	≈ 0.01%
Iris Epple-Righi Company insider	24,949	≈ 0.01%
Yehiam Shinder Company insider	22,684	≈ 0.01%
Gen Tsuchikawa Company insider	12,288	≈ 0.01%
Tzvia Broida Company insider	8,595	≈ 0.01%
Miguel Angel Parra Company insider	—	—

Data as of March 18, 2026, from the ownership table of its 20-F filed on March 26, 2026.

Percentages are of the shares outstanding. Shares include those a holder can get within 60 days, so the lines do not always add up to 100%. ≈ marks a percentage we worked out from the share count, as the filing does not print it. See the filing on SEC EDGAR

In plain words: Who owns the company: funds and companies with more than 5% of the shares, and the directors and top executives. The rest is spread among many other shareholders.

Institutional holders (13F)

The 25 largest of 232 managers reporting at June 30, 2026.

Manager	Shares	Of the shares
WASATCH ADVISORS LP13F filed Jul 10, 2026	8,275,194	4.70%
Capital World Investors13F filed Aug 12, 2026	7,336,304	4.17%
PRICE T ROWE ASSOCIATES INC /MD/13F filed Aug 14, 2026	7,132,391	4.05%
DARLINGTON PARTNERS CAPITAL MANAGEMENT, LP13F filed Aug 14, 2026	6,961,820	3.96%
Phoenix Financial Ltd.13F filed Aug 11, 2026	5,372,046	3.05%
BlackRock, Inc.13F filed Aug 7, 2026	4,129,445	2.35%
MARSHALL WACE, LLP13F filed Aug 13, 2026	3,561,949	2.02%
Arohi Asset Management PTE Ltd.13F filed Aug 14, 2026	3,110,799	1.77%
Contour Asset Management LLC13F filed Aug 14, 2026	3,034,019	1.72%
CITADEL ADVISORS LLC13F filed Aug 14, 2026	2,977,056	1.69%
Clearbridge Investments, LLC13F filed Aug 13, 2026	2,700,130	1.53%
Harel Insurance Investments & Financial Services Ltd.13F filed Jul 29, 2026	2,641,841	1.50%
Jupiter Topco LLC13F filed Aug 14, 2026	2,409,716	1.37%
WELLINGTON MANAGEMENT GROUP LLP13F filed Aug 14, 2026	2,101,009	1.19%
Balyasny Asset Management L.P.13F filed Aug 14, 2026	2,098,803	1.19%
Spyglass Capital Management LLC13F filed Aug 14, 2026	1,958,379	1.11%
Keenan Capital, LLC13F filed Aug 14, 2026	1,955,262	1.11%
MENORA MIVTACHIM HOLDINGS LTD.13F filed Aug 13, 2026	1,725,504	0.98%
MILLENNIUM MANAGEMENT LLC13F filed Aug 14, 2026	1,404,978	0.80%
Ampersand Capital Group, L.P.13F filed Aug 14, 2026	1,387,274	0.79%
GOLDMAN SACHS GROUP INC13F filed Aug 14, 2026	1,321,674	0.75%
ION Fund Management Ltd13F filed Aug 14, 2026	1,314,000	0.75%
NORGES BANK13F filed Aug 12, 2026	1,303,850	0.74%
NEXT CENTURY GROWTH INVESTORS LLC13F filed Aug 14, 2026	1,171,927	0.67%
NZS Capital, LLC13F filed Aug 14, 2026	1,146,508	0.65%

13F data as of June 30, 2026 (quarter end), from the SEC Form 13F data set. All 232 reporting managers together hold 63.2% of the shares.

Percentages are of the 175,987,500 diluted shares in the latest results. Common shares only: options are not counted. A manager reports the shares it manages, so a fund family can also appear above as a 5% owner; these lines are not added to the pie. Form 13F data sets on SEC.gov

In plain words: Every fund manager with more than $100 million in US stocks lists what it holds at the end of each quarter on Form 13F. These are the largest of them in Global-E Online Ltd., including those below 5% that do not file a Schedule 13G.

Balance sheet

Cash, debt and the ratios that show how comfortably Global-E Online Ltd. can carry it.

Cash vs debt (incl. leases)

FY19

Cash $5.0M

Debt —

FY20

Cash $85.5M

Debt —

FY21

Cash $467M

Debt —

FY22

Cash $182M

Debt —

FY23

Cash $220M

Debt —

FY24

Cash $291M

Debt —

FY25

Cash $320M

Debt —

Cash Debt

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	$467M	$182M	$220M	$291M	$320M
Current ratio	4.7x	1.8x	1.9x	2.1x	1.9x
Quick ratio	4.7x	1.8x	1.9x	2.1x	1.9x
Total assets	$846M	$1.2B	$1.2B	$1.3B	$1.5B
Total liabilities	$150M	$234M	$300M	$370M	$530M
Shareholders' equity	$696M	$928M	$902M	$893M	$933M
Net debt (− = net cash)	—	—	—	—	—

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)

FY19

Return on capital —

Return on equity —

Return on assets —

FY20

Return on capital —

Return on equity —

Return on assets 2.4%

FY21

Return on capital —

Return on equity −23.0%

Return on assets −14.9%

FY22

Return on capital —

Return on equity −24.1%

Return on assets −19.5%

FY23

Return on capital —

Return on equity −14.6%

Return on assets −11.3%

FY24

Return on capital —

Return on equity −8.4%

Return on assets −6.1%

FY25

Return on capital —

Return on equity 7.5%

Return on assets 5.0%

Return on capital Return on equity Return on assets

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

KIRA summarises the numbers

Global-E Online Ltd. passes 6 of 8 financial health tests (Piotroski F-score).

Test	FY21	FY22	FY23	FY24	FY25
F-score	4 / 8	4 / 8	6 / 8	6 / 8	6 / 8
Accruals ratio	−18.5%	−28.3%	−20.5%	−19.9%	−15.8%
Altman Z''	7.65	3.09	2.50	2.75	3.12
Net income is positive	✕	✕	✕	✕	✓
Cash from operations is positive	✓	✓	✓	✓	✓
Return on assets rose	✕	✕	✓	✓	✓
Cash from operations exceeds net income	✓	✓	✓	✓	✓
Debt fell relative to assets	—	—	—	—	—
Current ratio rose	✓	✕	✓	✓	✕
Share count didn't rise	✕	✕	✕	✕	✕
Gross margin rose	✓	✓	✓	✓	✓
Revenue rose relative to assets	✕	✓	✓	✓	✓

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

7 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

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Fiscal year	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	$65.9M	$136M	$245M	$409M	$570M	$753M	$962M
Gross profit	$18.7M	$43.5M	$91.4M	$158M	$234M	$339M	$436M
Research and development	$12.0M	$15.4M	$29.8M	$81.2M	$97.6M	$105M	$123M
Operating income	−$5.0M	$8.4M	−$65.7M	−$189M	−$137M	−$67.9M	$71.7M
Pretax income	−$7.5M	$4.1M	−$74.2M	−$201M	−$132M	−$79.4M	$70.5M
Income tax	$0.0M	$0.2M	$0.7M	−$6.0M	$2.0M	−$3.8M	$2.2M
Net income	−$7.5M	$3.9M	−$74.9M	−$195M	−$134M	−$75.5M	$68.3M
Net income to common	−$7.5M	$0.7M	−$74.9M	−$195M	−$134M	−$75.5M	$68.3M
Diluted EPS	−$0.38	$0.03	−$0.74	−$1.24	−$0.81	−$0.45	$0.39
Diluted shares	0.02B	0.03B	0.10B	0.16B	0.16B	0.17B	0.18B
Cash flow
Cash from operations	$7.0M	$29.4M	$18.2M	$89.3M	$108M	$169M	$284M
Capital expenditure	$0.3M	$0.5M	$2.9M	$8.4M	$1.7M	$2.3M	$3.1M
Free cash flow	$6.8M	$28.9M	$15.3M	$81.0M	$106M	$167M	$281M
Depreciation and amortization	$0.2M	$0.2M	$0.3M	$1.6M	$1.8M	$2.1M	$2.3M
Stock-based compensation	$0.2M	$4.0M	$12.0M	$38.9M	$45.0M	$39.2M	$39.3M
Acquisitions	—	$0.0M	$0.0M	$317M	$0.0M	$0.0M	$17.8M
Balance sheet
Cash and short-term investments	$5.0M	$85.5M	$467M	$182M	$220M	$291M	$320M
Current assets	—	$153M	$622M	$375M	$520M	$723M	$987M
Current liabilities	—	$83.9M	$132M	$210M	$274M	$348M	$510M
Property and equipment, net	—	$0.7M	$3.3M	$10.3M	$10.2M	$10.4M	$11.2M
Goodwill	—	—	$0.0M	$368M	$368M	$368M	$375M
Intangible assets	—	—	—	$98.5M	$78.0M	$59.2M	$52.4M
Total assets	—	$161M	$846M	$1.2B	$1.2B	$1.3B	$1.5B
Total liabilities	—	$93.3M	$150M	$234M	$300M	$370M	$530M
Shareholders' equity	−$53.0M	−$44.5M	$696M	$928M	$902M	$893M	$933M
Margins
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%
EBITDA margin	−7.3%	6.3%	−26.6%	−45.9%	−23.7%	−8.7%	7.7%
Net margin	−11.5%	2.9%	−30.6%	−47.8%	−23.5%	−10.0%	7.1%
FCF margin	10.3%	21.2%	6.2%	19.8%	18.7%	22.2%	29.2%
Returns
Return on capital employed	—	10.9%	−9.2%	−19.9%	−14.8%	−7.4%	7.5%
Return on equity	—	—	−23.0%	−24.1%	−14.6%	−8.4%	7.5%
Return on assets	—	2.4%	−14.9%	−19.5%	−11.3%	−6.1%	5.0%
Return on tangible equity	—	—	−10.8%	−42.3%	−29.3%	−16.2%	13.5%
Growth
Revenue growth	—	107.1%	79.9%	66.8%	39.3%	32.1%	27.8%
Net income growth	—	—	−2,014.5%	—	—	—	—
EPS growth	—	—	−2,566.7%	—	—	—	—
FCF growth	—	327.2%	−47.2%	430.4%	31.5%	56.9%	68.0%
Share count change	—	45.7%	255.3%	55.0%	4.2%	1.8%	5.2%
Financial health
Current ratio	—	1.8x	4.7x	1.8x	1.9x	2.1x	1.9x
Quick ratio	—	1.8x	4.7x	1.8x	1.9x	2.1x	1.9x
Capital allocation
Capex / revenue	0.4%	0.3%	1.2%	2.0%	0.3%	0.3%	0.3%
Stock comp / revenue	0.3%	2.9%	4.9%	9.5%	7.9%	5.2%	4.1%
Quality scores
Piotroski F-score	—	—	4.0	4.0	6.0	6.0	6.0
Altman Z''	—	1.6	7.7	3.1	2.5	2.7	3.1
Accruals ratio	—	−15.8%	−18.5%	−28.3%	−20.5%	−19.9%	−15.8%

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

KIRA’s summary AI analyst

Hi! I read Global-E Online Ltd.’s latest annual report (fiscal 2025). Here is what stands out:

4 strengths

Global-E Online Ltd. in 30 seconds

Good So-so Weak

Are sales growing?

+27.8%

Yes. Sales grew 27.8% last year.

Does it make a profit?

7.1%

A little. It keeps 7.1% of every sale as profit.

Does profit turn into cash?

29.2%

Yes. 29.2% of sales ends up as free cash.

How healthy are the accounts?

6 / 8

Mixed. It passes 6 of 8 health tests.

How is the share priced?

106.9x

One share costs 106.9 times its yearly profit per share.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Sales and profit

3 3 notes

Global-E Online Ltd. had $962M of revenue in fiscal 2025, up 27.8% on the year before. Over five years, revenue changed +47.8% a year on average.
Its operating margin was 7.4%, up 16.5 pts: of every 100 in sales, about 7 is left after running the business.
Global-E Online Ltd. made $68.3M of net profit in fiscal 2025.

See section

Cash and shareholders

1 2 notes

Free cash flow was $281M in fiscal 2025, 29.2% of revenue.
In the last 12 months, insiders sold $61.1M of shares on the open market and bought none.

See section

Financial health

1 note

Global-E Online Ltd. passes 6 of 8 financial health tests (Piotroski F-score).

See section

Source: SEC EDGAR XBRL filings (CIK 0001835963). Data updated November 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

Global-E Online Ltd.

Global-E Online Ltd.

FY25 results

What Global-E Online Ltd. does

Filing details

Earnings calendar · Global-E Online Ltd.

Revenue

Operating margin

Net income

Free cash flow

Return on capital

Revenue and margins

Net income and earnings per share

Cash flow

Dividends, buybacks and share count

Insider trades

Main shareholders

Institutional holders (13F)

Balance sheet

Returns on capital

Piotroski F-score

7 years of figures

Latest SEC filings

KIRA’s summary AI analyst

Global-E Online Ltd. in 30 seconds

Sales and profit

Cash and shareholders

Financial health

Help and feedback

General

FY25 results

Key numbers

Revenue and margins

Net income

Cash flow

Dividends and buybacks

Insider trades

Shareholders

Balance sheet

Returns on capital

F-score

All figures

News and filings

Latest SEC filings

KIRA analysis

Global-E Online Ltd. in 30 seconds

Sales and profit

Cash and shareholders

Financial health