Global-E Online (GLBE) Cash Flow: Operating & Free Cash Flow

Global-E Online Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Global-E Online Ltd. (GLBE) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	68.27	-75.55	-133.81	-195.41	-74.93	3.91	-7.54	-11.59
Depreciation & Amortization	86.98	169.54	172.67	178.47	84.63	0.24	0.17	0.16
Stock Based Compensation	39.35	39.16	44.96	38.91	12.00	3.96	0.22	0.22
Change in Working Capital	103.32	32.91	26.97	60.67	-11.99	15.72	14.18	3.23
Change in Accounts Receivable	-21.09	-16.54	-22.49	19.76	-34.86	-13.63	-2.51	-1.62
Change in Accounts Payable	70.65	28.62	-1.28	16.65	28.15	10.02	4.13	1.32
Change in Other Working Capital	-3.15	20.83	50.73	24.26	0.02	19.34	12.55	3.53
Other Operating Activities	-3.15	3.34	-2.57	6.69	0.02	5.52	0.01	0.00
Net Cash from Operating Activities	283.78	169.39	108.22	89.33	18.15	29.35	7.03	-7.99
Investing Activities
Capital Expenditures	-3.10	-2.34	-1.74	-8.35	-2.88	-0.46	-0.26	-0.11
Acquisitions	-20.76	-1.00	0.00	-317.48	0.00	0.00	0.00	0.00
Purchases of Investments	-462.12	-287.34	-179.05	-86.78	-119.99	-23.59	-0.19	-1.50
Sales/Maturities of Investments	305.27	185.56	125.75	82.51	82.41	0.00	0.00	0.00
Other Investing Activities	0.00	0.00	0.00	0.00	-0.02	0.00	0.00	0.00
Net Cash from Investing Activities	-180.71	-105.12	-55.04	-330.10	-40.49	-24.05	-0.45	-1.61
Financing Activities
Common Stock Issued	1.39	3.28	1.99	1.24	396.49	0.00	0.00	0.00
Common Stock Repurchased	-72.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	0.00	0.00	0.00	0.00	0.00	59.36	0.15	19.97
Net Cash from Financing Activities	-70.83	3.28	1.99	1.24	398.61	59.36	0.15	19.97
Summary
Effect of Forex Changes on Cash	10.98	-4.47	1.90	-7.84	-2.40	0.00	0.00	0.00
Net Change in Cash	43.23	63.09	57.08	-247.38	376.27	64.66	6.72	10.37
Cash at Beginning of Period	331.68	268.60	211.52	458.90	85.03	20.37	13.65	3.27
Cash at End of Period	374.92	331.68	268.60	211.52	458.90	85.03	20.37	13.65
Free Cash Flow	280.68	167.06	106.48	80.98	15.27	28.89	6.76	-8.10
Supplemental Disclosures
Income Taxes Paid	-	2.60	0.73	0.25	0.01	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Global-E Online Cash Flow

What is Global-E Online's free cash flow?

Global-E Online generated free cash flow of $280.68M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $283.78M minus $3.10M of capital expenditures. That was up 68.0% from $167.06M a year earlier. Free cash flow equaled 29.2% of revenue.

How much does Global-E Online spend on capital expenditures?

Global-E Online spent $3.10M on capital expenditures in fiscal 2025, compared with $2.33M a year earlier. That equals 1.1% of operating cash flow.

Does Global-E Online pay dividends or buy back shares?

Yes. In fiscal 2025 Global-E Online returned $72.22M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition