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Globale Global - E Reports Record Third Quarter 2021 Results November 9 , 2021 PETAH - TIKVA , Israel , Nov. 09 , 2021 ( GLOBE NEWSWIRE ) -- Global - e Online Ltd. ( Nasdaq : GLBE ) the company that makes global e - commerce border agnostic , today reported financial results for the third quarter of 2021 as well as the outlook for the full year 2021 . " Our strong business momentum continued during the third quarter of 2021 , once again breaking performance records , with quarterly revenues at an all - time high of $ 59.1 million , a 77 % increase from the same quarter last year , and significant gross margin expansion " , said Amir Schlachet , Founder and CEO of Global - e . " With numerous client and partnership launches , a healthy and growing pipeline and strong execution across our strategic growth avenues , we are excited with the opportunities that lie ahead of us , as reflected also in our updated guidance for the full year 2021. " Q3 2021 Financial Results • GMV1 in the third quarter of 2021 was $ 352 million , an increase of 86 % year over year • Revenue in the third quarter of 2021 was $ 59.1 million , an increase of 77 % year over year , of which service fees revenue was $ 23.0 million and fulfillment services revenue was $ 36.2 million • Gross margin in the third quarter of 2021 was 38.6 % , an increase of 840 basis points from 30.2 % in the third quarter of 2020 • Adjusted EBITDA² in the third quarter of 2021 improved to $ 7.7 million compared to $ 2.7 million in the third quarter of 2020 • Net loss in the third quarter of 2021 was ( $ 28.5 ) million , compared to a net profit of $ 1.2 million in the year - ago period . Net profit excluding the Shopify warrants related amortization expense of $ 29.4 million was $ 0.9 million Q3 2021 Business Highlights • Outperformance across the business lines • Service fees revenue grew 89 % year over year and its share constituted 39 % of revenues ; fulfillment fees grew 71 % year over year • Continued accelerated growth of US - outbound o Continuing the strong penetration to the US market , US outbound revenues were up 91 % year over year • Continued to launch new merchants across our main geographies , as well as continued ' land and expand ' efforts . Select notable examples include : • Our relationship with the LVMH luxury group continued to expand during the third quarter of 2021 , as we launched two more ' maisons ' from the group - Givenchy and Sephora Asia , the latter contributing also to our growing Asia - Pacific based business • Merchants have continued expanding the scope of their existing partnership with us - for example , the consumer electronics brand Sennheiser added 15 additional markets ; the luxury jewelry brand Boucheron ( of the Kering group ) added the US and Europe markets to the existing serviced countries ; and the Spanish footwear brand Camper added 15 new additional markets • Established a strategic partnership with Australia Post that is expected to yield access to their vast Australian client portfolio , and provide further support for our penetration into Asia - Pacific markets • Continued to develop and enhance our multi - local support capabilities , launching Jabra , the global consumer electronics brand , as well as the UK - based football club Leeds United , representing the latest addition to our growing portfolio of sports club merchant partners • On track with the rollout of our exclusive strategic partnership with Shopify : • Continued signing up and going live with large Shopify - based merchants , such as Alo Yoga and Netflix , as well as with smaller emerging brands