Shares of Global-e online (NASDAQ: GLBE) today on the heels of strong fourth quarter results. Shares of the cross-border e-commerce specialist were up 19.1% at 12:24 p.m. ET Thursday.
After the market closed on Wednesday, Global-e delivered somewhat mixed results in the fourth quarter. Revenue which rose 54% year over year to $82.7 million beat consensus expectations of $5.1 million. Ultimately, a non-cash charge related to stock warrants held by Shopify (NYSE: SHOP) resulted in a loss of $22.5 million instead of the modest profit Wall Street expected.
Investors quickly shrugged off Global-e’s reported loss thanks to forecasts for 2022 that beat expectations. The company expects total revenue this year to be between $411 million and $421 million. That’s at least $44 million more than the average Wall Street analyst who follows Global-e expected from the company.
The headlines weren’t the only signs of success that lifted Global-e stock price today. Investors can clearly see the business becoming more profitable as it grows. The company reported fourth-quarter gross profit that rose 110% to $91.4 million.
Global-e Online has big plans for 2022 that could cause the company to revise its guidance estimates even further. The company is already an indispensable partner for merchants in the United States and outside who want to reach a large international market without all the headaches of cross-border trade.
The continued integration of Global-e Online with Shopify merchants is proceeding as planned. With access to popular direct-to-consumer brands, including face scrubs FIGS and Kanye West’s hoodies, the Shopify integration could help the company beat analysts’ expectations in coming quarters.
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