Shares of e-Commerce platform provider Global-e Online (NASDAQ:GLBE) are tanking today despite delivering a third-quarter beat and strong top-line growth.
Revenue skyrocketed 79% year-over-year to $105.6 million. Net loss per share at $0.19 too came in narrower than expectations by $0.11. Further GMV at $621 million registered a 77% increase over the prior year.
Despite the metrics, the company’s guidance came in lower than earlier projections.
Owing to foreign currency fluctuations and postponement in merchant go-live the company now expects fiscal 2022 revenue to land between $404.7 million and $410.7 million. It earlier expected the figure to range between $406 million and $416 million.
Adjusted EBITDA is anticipated to hover between $43.5 million and $46.5 million.
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