Page 1

Globale Global - E Reports Second Quarter 2021 Results August 16 , 2021 PETAH - TIKVA , Israel , Aug. 16 , 2021 ( GLOBE NEWSWIRE ) -- Global - e Online Ltd. ( Nasdaq : GLBE ) the company that makes global e - commerce border agnostic , today reported financial results for the second quarter of 2021 as well as outlook for the third quarter and full year 2021 " The record results we are publishing today for the second quarter of 2021 , together with the updated guidance for the third quarter and full year , illustrate the continued momentum of our business , as evident from both Gross Merchandise Value ( GMV ) and revenues growing more than 90 % year over year , improved profitability and several key clients we launched with this quarter " , said Amir Schlachet , Founder and CEO of Global - e . " In parallel , we remain focused on executing across all our strategic vectors , from geographical expansion , to adding additional features and innovative capabilities , to expanding the network of strategic partners in our ecosystem . ” Q2 2021 Financial Results • GMV in the second quarter of 2021 was $ 326 million , an increase of 95 % year over year • Revenue in the second quarter of 2021 was $ 57.3 million , an increase of 92 % year over year , of which Service fees was $ 21.1 million and Fulfillment services revenue was $ 36.2 million • Gross margin in the second quarter of 2021 was 36.0 % , an increase of 360 basis points from 32.4 % in the second quarter of 2020 • Adjusted EBITDA1 in the second quarter of 2021 improved to $ 7.6 million compared to $ 3.1 million in the second quarter of 2020 • Net loss was ( $ 22.2 ) million , compared to a net loss of ( $ 0.4 ) million in the year - ago period . Net profit excluding the Shopify warrants related amortization expense of $ 25.5 million was $ 3.3 million Q2 2021 Business Highlights • Outperformance across the business lines o Service fees revenue grew by 104 % and its share constituted 37 % of revenues ; Fulfillment fees grew by 86 % • Continued accelerated growth of US - outbound • Continuing the strong penetration to the US market , US outbound revenues were up 131 % year over year • Continued to launch new merchants across our main geographies , including both new merchants and continued ' land and expand ' efforts . Notable examples include : • During Q2 we launched Tag Heuer , Sephora and Rimowa which are all part of the LVMH group , adding to our portfolio of LVMH brands o In the months following the launch , Tag Heuer added many more destination markets to our platform • The lingerie brand La Perla , which went live with us during the first quarter of 2021 , added many more destination markets during the second quarter and also went live with La Perla Beauty , its sister brand • Continued progress on our expansion plans to new geographies , with emphasis on Asia Pacific . • Launched our first APAC - based merchant , Theory Hong Kong which is part of the Fast Retailing group o Opened a new office in Tokyo • We continue to build capabilities and broaden our range of value added services , with emphasis on capabilities that further enhance our level of support for larger merchants and new verticals , such as consumer electronics , which often require an elaborate multi - local approach in order to optimize conversion rates in key markets • On track with the rollout of our newly established exclusive strategic partnership with Shopify • Continue signing up and going live with Shopify - based merchants on an on - going basis • Working together with Shopify on a new and deeper integration of Global - e's offering into the Shopify platform and checkout , which is expected to be finalized later this year