Global-e Online (GLBE) 20-F 28 Mar 22 2021 FY Annual report (foreign) Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Entity Registrant Name	Global-E Online Ltd.
Entity Central Index Key	0001835963
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity File Number	001-40408
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Address, Country	IL
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Trading Symbol	GLBE
Title of 12(b) Security	Ordinary shares, no par value
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	150,456,501
Entity Incorporation, State or Country Code	L3
Document Accounting Standard	U.S. GAAP
Entity Address, Address Line One	25 Basel Street,
Entity Address, Postal Zip Code	4951038
Entity Address, City or Town	Petah Tikva
Auditor Firm ID	1281
Auditor Name	KOST FORER GABBAY & KASIERER
Auditor Location	Tel-Aviv, Israel
Business Contact [Member]
Document Information [Line Items]
Entity Address, Country	IL
Contact Personnel Name	Amir Schlachet
Entity Address, Address Line One	25 Basel Street
Entity Address, Postal Zip Code	4951038
Entity Address, City or Town	Petah Tikva
Local Phone Number	73-2605078
City Area Code	972

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 448,623	$ 68,637
Short-term deposits	41,985	6,457
Accounts receivable, net	9,185	3,594
Prepaid expenses and other current assets	46,568	23,047
Marketable securities	18,464	16,871
Funds receivable, including cash in banks	57,635	34,492
Total current assets	622,460	153,098
Property and equipment, net	3,269	717
Operating lease right-of-use assets	20,108	4,160
Long term deposits	2,219	2,223
Deferred contract acquisition costs, noncurrent	1,314	729
Other assets, noncurrent	213	368
Commercial agreement asset	196,544	0
Total long-term assets	223,667	8,197
Total assets	846,127	161,295
Current liabilities:
Accounts payable (including related party payables of $14,058 and $18,158 as of December 31, 2020 and 2021, respectively)	24,064	19,057
Accrued expenses and other current liabilities (including related party payables of $3,120 and $3,357 as of December 31, 2020 and 2021, respectively)	47,358	29,432
Funds payable to Customers	57,635	34,492
Short term operating lease liabilities	2,517	915
Total current liabilities	131,574	83,896
Long-term liabilities:
Deferred tax liabilities, net	0	105
Warrants liabilities to preferred shares	0	5,738
Long term operating lease liabilities	18,803	3,513
Total liabilities	150,377	93,252
Commitments and contingencies
Convertible preferred shares, with no par value, 162,875 and no shares authorized as of December 31, 2020 and 2021, respectively; 162,101 and no issued and outstanding as of December 31, 2020 and 2021, respectively; aggregate liquidation preference of $113,276 and $0 as of December 31, 2020 and 2021, respectively;	0	112,553
Shareholders’ deficit:
Ordinary shares, with no par value, 5,902,275,000 and 300,000,000 shares authorized as of December 31, 2020 and 2021, respectively; 21,761,400 and 150,456,501, shares issued and outstanding as of December 31, 2020 and 2021, respectively;	0	0
Additional paid-in capital	823,550	8,087
Accumulated comprehensive income	(159)	111
Accumulated deficit	(127,641)	(52,708)
Total shareholders’ (deficit) equity	695,750	(44,510)
Total liabilities, convertible preferred shares and shareholders' (deficit) equity	$ 846,127	$ 161,295

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) $ in Thousands	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Accounts payable and accrued expenses | $	$ 18,158	$ 14,058
Accrued expenses and other current liabilities | $	$ 3,357	$ 3,120
Temporary Equity, No Par Value | (per share)	$ 0	$ 0
Temporary Equity, Shares Authorized	0	162,875
Temporary Equity, Shares Issued	0	162,101
Temporary Equity, Shares Outstanding	0	162,101
Common Stock, No Par Value | (per share)	$ 0	$ 0
Common Stock, Shares Authorized	300,000,000	5,902,275,000
Common Stock, Shares, Issued	150,456,501	21,761,400
Common Stock, Shares, Outstanding	150,456,501	21,761,400

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 245,274	$ 136,375	$ 65,852
Cost of revenue (including related party costs of $26,106, $53,861 and $90,315 for the years ended December 31, 2019, 2020 and 2021, respectively)	153,841	92,902	47,188
Gross profit	91,433	43,473	18,664
Operating expenses:
Research and development	29,761	15,400	12,034
Sales and marketing	104,687	9,838	4,593
General and administrative	22,643	9,822	6,988
Total operating expenses	157,091	35,060	23,615
Operating profit (loss)	(65,658)	8,413	(4,951)
Financial expenses, net	8,570	4,339	2,559
Profit (loss) before income taxes	(74,228)	4,074	(7,510)
Provision for income taxes	705	160	34
Net profit (loss)	(74,933)	3,914	(7,544)
Undistributed earnings attributable to participating securities	0	3,189	0
Net earnings (loss) attributable to ordinary shareholders	$ (74,933)	$ 725	$ (7,544)
Net earnings (loss) per share attributable to ordinary shareholders, basic	$ (0.74)	$ 0.03	$ (0.38)
Net earnings (loss) per share attributable to ordinary shareholders, diluted	$ (0.74)	$ 0.03	$ (0.38)
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic	101,737,026	21,120,208	19,654,276
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, diluted	101,737,026	28,637,801	19,654,276

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Related party costs	$ 90,315	$ 53,861	$ 26,106

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net profit (loss)	$ (74,933)	$ 3,914	$ (7,544)
Other comprehensive income:
Unrealized gain (loss) on available-for-sale marketable securities, net	(270)	111	0
Other comprehensive income (loss)	(270)	111	0
Comprehensive income (loss)	$ (75,203)	$ 4,025	$ (7,544)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' DEFICIT - USD ($) $ in Thousands	Convertible Preferred Shares	Ordinary Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Total
Preferred Stock, Value, Issued, Beginning Balance at Dec. 31, 2018	$ 53,732
Preferred Stock, Shares Outstanding, Beginning Balance (Shares) at Dec. 31, 2018	138,395
Beginning balance at Dec. 31, 2018		$ 0	$ 3,224	$ 0	$ (49,078)	$ (45,854)
Beginning balance (Shares) at Dec. 31, 2018		19,502,400
Other comprehensive loss						0
Issuance of ordinary shares upon exercise of share options		$ 0	147			147
Issuance of ordinary shares upon exercise of share options (Shares)		218,400
Unrealized gain on available-for-sale marketable securities, net						0
Share-based compensation expense			221			221
Net profit (loss)					(7,544)	(7,544)
Preferred Stock, Value, Issued, Ending Balance at Dec. 31, 2019	$ 53,732
Preferred Stock, Shares Outstanding, Ending Balance (Shares) at Dec. 31, 2019	138,395
Ending balance at Dec. 31, 2019		$ 0	3,592	0	(56,622)	(53,030)
Ending balance (Shares) at Dec. 31, 2019		19,720,800
Other comprehensive loss						111
Issuance of Series E convertible preferred shares, net of issuance costs of $473	$ 58,821
Issuance of Series E convertible preferred shares, net of issuance costs of $473 (Shares)	23,706
Issuance of ordinary shares upon exercise of share options		$ 0	539			539
Issuance of ordinary shares upon exercise of share options (Shares)		2,040,600
Unrealized gain on available-for-sale marketable securities, net				111		111
Share-based compensation expense			3,956			3,956
Net profit (loss)					3,914	3,914
Preferred Stock, Value, Issued, Ending Balance at Dec. 31, 2020	$ 112,553					$ 112,553
Preferred Stock, Shares Outstanding, Ending Balance (Shares) at Dec. 31, 2020	162,101					162,101
Ending balance at Dec. 31, 2020		$ 0	8,087	111	(52,708)	$ (44,510)
Ending balance (Shares) at Dec. 31, 2020		21,761,400
Conversion of preferred shares to ordinary shares	$ (112,553)
Conversion of preferred shares to ordinary shares (Shares)	(162,101)
Conversion of preferred shares to ordinary shares			112,553			112,553
Conversion of preferred shares to ordinary shares (Shares)		97,260,600
Issuance of warrants to ordinary shares			280,842			280,842
Exercise of options and vested RSUs granted to employees		$ 0	1,584			1,584
Exercise of options and vested RSUs granted to employees (Shares)		2,018,942
Other comprehensive loss				(270)		(270)
Unrealized gain on available-for-sale marketable securities, net						(270)
Share-based compensation expense			12,001			12,001
Issuance of Ordinary shares in IPO, net			396,344			396,344
Issuance of Ordinary shares in IPO, net (Shares)		17,250,000
Exercise of Warrants to ordinary shares			12,139			12,139
Exercise of Warrants to ordinary shares (Shares)		12,165,559
Net profit (loss)					(74,933)	(74,933)
Preferred Stock, Value, Issued, Ending Balance at Dec. 31, 2021	$ 0					$ 0
Preferred Stock, Shares Outstanding, Ending Balance (Shares) at Dec. 31, 2021	0					0
Ending balance at Dec. 31, 2021		$ 0	$ 823,550	$ (159)	$ (127,641)	$ 695,750
Ending balance (Shares) at Dec. 31, 2021		150,456,501

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' DEFICIT (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Convertible Preferred Shares
Issuance costs	$ 473

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net profit (loss)	$ (74,933)	$ 3,914	$ (7,544)
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
Depreciation and amortization	331	235	171
Share-based compensation expense	12,001	3,956	221
Commercial agreement asset amortization	84,298	0	0
Long term deposit revaluation	24	0	0
Impairment of marketable securities	140	0	0
Warrants liabilities to preferred shares	5,872	5,523	5
Changes in operating assets and liabilities:
Increase in accounts receivable .	(5,591)	(1,652)	(1,193)
Increase in prepaid expenses and other assets	(23,239)	(12,273)	(3,916)
Increase in funds receivable	(29,272)	(11,829)	(1,317)
Increase in long-term receivables	0	(150)	0
Increase in funds payable to customers	23,143	12,884	12,508
Decrease (increase) operating lease ROU assets	1,382	(2,761)	(606)
Increase in deferred contract acquisition costs	(814)	(429)	(245)
Increase in accounts payable	5,007	10,018	4,131
Increase in accrued expenses and other liabilities	17,926	18,874	4,184
Increase (decrease) in deferred tax liabilities	(90)	52	(7)
Operating lease liabilities	(437)	2,988	636
Net cash provided by operating activities	15,748	29,350	7,028
Cash flows from investing activities:
Investment in marketable securities	(2,806)	(16,759)	0
Proceeds from marketable securities	748	0	0
Purchases of short-term investments	(117,185)	(6,375)	(43)
Proceeds from short-term investments	81,657	0	0
Purchases of long-term investments	(20)	(456)	(145)
Purchases of property and equipment	(2,883)	(456)	(264)
Net cash used in investing activities	(40,489)	(24,046)	(452)
Cash flows from financing activities:
Proceeds from exercise of share options	1,584	539	147
Issuance of convertible preferred shares, net of issuance costs	0	58,821	0
Proceeds from issuance of Ordinary shares in IPO, net of issuance costs	396,494
Proceeds from exercise of warrants to ordinary shares	529
Net cash provided by financing activities	398,607	59,360	147
Net increase in cash, cash equivalents, and restricted cash	373,866	64,664	6,723
Cash and cash equivalents and restricted cash—beginning of period	85,033	20,369	13,646
Cash and cash equivalents and restricted cash—end of period	458,899	85,033	20,369
Supplemental disclosures of cash flow information:
Cash paid for income taxes	5	68	65
Supplemental disclosures of noncash investing and financing activities:
Purchases of property and equipment during the period included in accounts payable	1	13	11
ROU assets and lease liabilities created during the period	17,329	3,734	1,209
Conversion of warrants liability	11,610	0
Recognition of commercial agreement asset	$ 280,842	$ 0	$ 0

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Global-E Online Ltd. was incorporated on February 21, 2013 under the laws of the state of Israel and commenced operations at that time. The company and its subsidiaries (together, "Global-E", the "Company") offer a leading platform to enable and accelerate global, direct-to-consumer (“D2C”) cross-border e-commerce. The platform was purpose-built for international shoppers to buy seamlessly online and for merchants to sell from, and to, anywhere in the world. The Company’s platform localizes the shopper experience in effort to make international transactions as seamless as domestic ones. The platform increases the conversion of international traffic into sales by removing much of the complexity associated with international e-commerce. The platform provides an integrated solution that creates a localized and frictionless shopper experience and is simple to manage, flexible to adjust and smart in its local market insights and best practices. The vast capabilities of the Company’s end-to-end platform include interaction with shoppers in their native languages, market-adjusted pricing, payment options tailored to local market preferences, compliance with local consumer regulations and requirements such as customs duties and taxes, shipping services, after-sales support and returns management. These elements are unified under the Global-e platform to enhance the shopper experience and enable merchants to capture the cross-border opportunity.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Global-E Online Ltd. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain prior period amounts have been reclassified in order to conform to the current period presentation. Initial Public Offering On May 14, the Company has completed its initial public offering (“IPO”), pursuant to which the Company issued and sold 17,250,000 Ordinary Shares at an offering price of $25 per share, including 2,500,000 Ordinary Shares for exercising the underwriters’ option to purchase additional shares. The Company has received proceeds of $396.4 million net of deduction of underwriting discounts and commissions of $30.2 million, and other issuance costs of $4.7 million. Upon consumption of the IPO, 19,298 Preferred A Shares, 20,364 Preferred A-1 Shares, 37,361 Preferred B-1 Shares, 17,792 Preferred B-2 Shares, 15,822 Preferred C Shares, 27,758 Preferred D-1 Shares and 23,706 Preferred E Shares were converted to Ordinary Shares in a 1:600 ratio. A total of 464,400 warrants to purchase the Company's convertible Preferred Shares were converted to Ordinary Shares upon consummation of the IPO. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods and accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligations, the estimated customer life on deferred contract acquisition costs, the allowance for doubtful accounts, the fair value of financial assets and liabilities; including accounting and fair value of derivatives, the fair value of acquired intangible assets and goodwill, the useful lives of acquired intangible assets and property and equipment, share-based compensation including the determination of the fair value of the Company’s Ordinary Shares, and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. Foreign Currency The functional currency of the Company is the U.S. dollar. Accordingly, foreign currency assets and liabilities are remeasured into U.S. dollars at the end-of-period exchange rates except for non-monetary assets and liabilities, which are measured at historical exchange rates. Revenue and expenses are remeasured each day at the exchange rate in effect on the day the transaction occurred. Concentration of Risks Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, restricted cash, short-term deposits, accounts receivable and marketable securities. The Company maintains its cash, cash equivalents, restricted cash, and short-term deposits with high-quality financial institutions mainly in the U.S., UK and Israel, the composition and maturities of which are regularly monitored by the Company. In the years ended December 31, 2019, 2020 and 2021, the revenue generated by the Company’s largest customer was $16,219, $24,534 and $31,346, respectively. As of December 31, 2020 and 2021, the net amount due to the Company’s largest customer was $8,264 and $8,482, respectively. Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents consist of cash in banks. The Company considers all highly liquid investments, with an original maturity of three months or less at the date of purchase, to be cash equivalents. The Company maintains certain cash amounts restricted as to its withdrawal or use. The Company’s restricted cash primarily consists of security deposits collateralizing the Company’s operating leases. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: December 31, 2019 2020 202 1 Cash and cash equivalents $ 5,034 $ 68,637 $ 448,623 Cash and cash equivalents included in funds receivable $ 15,138 $ 16,193 $ 10,063 Restricted cash included in other assets $ 197 $ 203 $ 213 Total cash, cash equivalents, and restricted cash $ 20,369 $ 85,033 $ 458,899 Marketable Securities The Company classifies its marketable securities as available-for-sale at the time of purchase and re-evaluates such classification at each balance sheet date. The Company may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, the Company classifies its marketable securities, including those with maturities beyond 12 months, as current assets in the Consolidated Balance Sheets. The Company carries these securities at fair value and records unrealized gains and losses, net of taxes, in accumulated other comprehensive income, which is reflected as a component of shareholders’ equity (deficit). The Company periodically evaluates its marketable securities to assess whether those with unrealized loss positions are other-than-temporarily impaired. If the cost of an individual security exceeds its fair value, the Company evaluates, among other factors, general market conditions, the duration and extent to which the fair value is less than the cost basis, and the Company’s intent and ability to hold the security. If the Company believes that a decline in fair value is determined to be other-than-temporary, the Company writes down the security to fair value. Realized gains and losses and declines in fair value judged to be other than temporary on available-for-sale marketable securities are reported in interest income, net in the Consolidated Statements of Operations. For the year ended December 31, 2021 the Company has recognized other than temporary impairment in the amount of $140 in its Consolidated Statements of Operations as a result of the Company intention to sell specific Marketable securities. Fair Value Measurements Fair value is defined as the exchange price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company measures financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Three levels of inputs may be used to measure fair value: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial instruments consist of cash and cash equivalents, restricted cash, short-term deposits, accounts receivables, accounts payables, accrued liabilities, warrants to convertible preferred shares and marketable securities. Short-term deposits, Cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date. Warrants to preferred share and marketable securities are stated at fair value on a recurring basis. See note 12. Other Comprehensive Income (loss) The Company accounts for comprehensive income (loss) in accordance with Accounting Standards Codification No. 220, "Comprehensive Income" ("ASC No. 220"). This statement establishes standards for the reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. Comprehensive income generally represents all changes in shareholders' deficit during the period except those resulting from investments by, or distributions to shareholders. The total accumulated other comprehensive income was comprised as follows: Year ended December 31, 2020 2021 Unrealized gain on marketable securities Unrealized gain (loss) on marketable securities Beginning balance $ - $ 111 Net current period other comprehensive income (loss) 111 (410 ) reclassification adjustments for losses included in net income - 140 Total accumulated other comprehensive income (loss) $ 111 $ (159 ) Accounts Receivable, Net Accounts receivable are recorded at the invoiced amount and amounts for which revenue has been recognized but not invoiced, net of allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts based on a combination of factors, including an assessment of the current customer’s aging balance, the nature and size of the customer, the financial condition of the customer, and the amount of any receivables in dispute. Accounts receivable deemed uncollectable are charged against the allowance for doubtful accounts when identified. The allowance of doubtful accounts was not material for the periods presented. Property and Equipment, Net Property and equipment are stated at cost net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets. Expenditures for maintenance and repairs are expensed as incurred. The estimated useful lives of the Company’s property and equipment are as follows: Computer and software 3 years Furniture and office equipment 3 – 7 years Leasehold improvements Shorter of remaining lease term or estimated useful life Impairment of Long-Lived Assets The Company evaluates the recoverability of long-lived assets, including property and equipment and intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be fully recoverable. Such events and changes may include significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in the Company’s business strategy. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of long-lived assets is not recoverable, the carrying amount of such assets is reduced to fair value. There were no impairment charges to long-lived assets during the periods presented. Capitalized Software Costs Costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development are capitalized. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation operational stage are expensed as incurred. Costs incurred during the application development stage of the project are capitalized. Maintenance costs are expensed as incurred. Revenue Recognition The Company’s revenues are comprised of: 1. Service Fees –The Company provides merchants a cross-border e-commerce platform which enables to sell their products to consumers worldwide. Revenue is generated as a percentage of the value of transactions that flow through the Company’s platform. 2. Fulfillment services – The Company offers shipping, handling, and other global delivery services in order to deliver merchants’ goods to consumers. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services are delivered. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these goods or services. To achieve the core principle of this standard, the Company applied the following five steps: 1. Identification of the contract, or contracts, with the customer The Company determines that it has a contract with a customer when each party’s rights regarding the products or services to be transferred can be identified, the payment terms for the services can be identified, the Company has determined the customer has the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. 2. Identification of the performance obligations in the contract Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the products or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products and services is separately identifiable from other promises in the contract. The Company identified two distinct performance obligations: service fees and fulfillment services. The Company Offers its platform service solution on a standalone basis (i.e., without the fulfillment services), fulfillment services are offered on an optional basis. Customers may choose to utilize or cease utilizing fulfillment services, either in whole or for select markets, at any time and from time to time. 3. Determination of the transaction price The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products or delivery of services to the customer. The Company applied the practical expedient in ASC 606 and did not evaluate payment terms of one year or less for the existence of a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). 4. Allocation of the transaction price to the performance obligations in the contract Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on each performance obligation’s relative standalone selling price ("SSP"). To determine SSP, the Company maximizes the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, the Company uses the expected cost-plus margin approach to estimate the standalone selling price based on a defined matrix that takes into consideration, among others, the weight, volume and shipping lane of the package. The Company also utilizes available information that may include market conditions, pricing strategies, and other observable inputs. In some cases, the Company provides the platform service solution on a standalone basis. (i.e., without the fulfillment services) since fulfillment service is optional. As for the fulfillment services, the Company provides such services only alongside the platform service solution. 5. Recognition of the revenue when, or as, a performance obligation is satisfied Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised product or delivery of service to the customer. Revenue is recognized in an amount that reflects the consideration that the Company expects to receive in exchange for those products or services. For each performance obligation identified, the Company is required to determine whether control of the good or service transfers to the customer over time or at a point in time. The assessment of whether control transfers over time or at a point in time is critical to the timing of revenue recognition. The control over the promised services for each of the components is transferred as follow: a. Service Fees -the revenues are recognized once the transaction is considered completed, when the payment is processed by the Company, and the merchant goods arrive at the Company’s hub. The Company determined it acts as an agent since it does not have control over the goods provided to the shopper, based on the agreement with the merchant. The Company is not primarily responsible for the acceptability of the goods (for example – the quality of the goods provided to the consumer). Furthermore, the Company has no discretion in determining the prices paid by the consumer for the goods. The Company earns a fee based on a fixed percentage of the total amount of the goods. Therefore, revenues derived from the service fees are presented on a net basis. b. Fulfillment services - the service is recognized over the shipment time starting upon the dispatch to the carrier until it reaches the consumer. The Company determined it acts as a principal since it is the primary obligor to fulfill its promise to its customers, controls the services (i.e. the Company directs other parties to provide services on its behalf), has discretion in determining the carrier it uses to provide the service and bears the risk of loss if the actual cost of the fulfillment service will exceed the fee. Therefore, revenues derived from the fulfillment services are presented on a gross basis. The Company elected to apply the optional exemption under ASC 606 not to disclose the remaining performance obligations that relate to contracts with an original expected duration of one year or less. Disaggregation of Revenue The following table summarizes revenue by category: Year Ended December 31, 2019 2020 2021 Percentage Percentage Percentage Amount of Revenue Amount of Revenue Amount of Revenue (in thousands, except percentages) Service fees 23,498 36 % 49,927 37 % 96,659 39 % Fulfillment services 42,354 64 % 86,448 63 % 148,615 61 % Total revenue $ 65,852 100 % $ 136,375 100 % $ 245,274 100 % The Company's revenues from service fees provided on a standalone basis were $1,002, $2,627 and $8,366 for the years ended December 31, 2019, 2020 and 2021, respectively. The following table summarizes revenue by merchant outbound region: Year Ended December 31, 2019 2020 2021 Percentage Percentage Percentage Amount of Revenue Amount of Revenue Amount of Revenue (in thousands, except percentages) United Kingdom 51,799 79 % 80,122 59 % 113,835 47 % United States 9,529 14 % 34,140 25 % 71,095 29 % European Union 4,344 7 % 21,269 15 % 58,177 23 % Israel 180 * ) 844 1 % 1,052 * ) Other - - - - 1,115 * ) Total revenue $ 65,852 100 % $ 136,375 100 % $ 245,274 100 % *) Less than 1% Cost to Obtain a Contract The Company capitalizes sales commissions paid to sales personnel that are incremental to the acquisition of customer contracts. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans and if the commissions are incremental and would not have occurred absent the customer contract. Sales commissions paid upon the initial acquisition of a customer contract for sales personnel and affiliates are amortized mainly over an estimated period of benefit of five years. The Company determines the period of benefit for sales commissions paid for the acquisition of the initial customer contract by taking into consideration the estimated technological life of the Company’s solution. Amortization of sales commissions are consistent with each performance obligation and are included in sales and marketing expense in the consolidated statements of operations. The Company has applied the practical expedient in ASC 606 to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. There were no impairment losses recorded during the periods presented. The following table represents a rollforward of deferred contract acquisition costs: Year Ended December 31, 2019 2020 202 1 (in thousands) Beginning balance $ 318 $ 563 $ 987 Additions to deferred contract acquisition costs 343 618 1,188 Amortization of deferred contract acquisition costs (98 ) (194 ) (374 ) Ending balance $ 563 $ 987 $ 1,801 Deferred contract acquisition costs (to be recognized in next 12 months included in other current assets) $ 143 $ 264 $ 487 Deferred contract acquisition costs, noncurrent 420 723 1,314 Total deferred contract acquisition costs $ 563 $ 987 $ 1,801 Cost of Revenue Cost of revenue primarily consists of expenses related to fulfillment of its services, which mainly include shipping costs, acquiring costs, payroll and allocated overhead. Overhead is allocated to cost of revenue based on applicable headcount. Research and Development Research and development costs include personnel-related expenses associated with the Company’s development personnel responsible for the design, development and testing of its products, cost of development environments and tools, and allocated overhead. Overhead is allocated to research and development based on applicable headcount. Research and development costs are expensed as incurred. Sales and Marketing Costs Sales and Marketing costs include mainly personnel-related expenses, sales commissions, direct marketing, events, public relations, commercial agreement amortization (See note 5) and allocated overhead. Overhead is allocated to sales and marketing based on applicable headcount. General and Administrative General and administrative expenses primarily consist of personnel-related expenses, including share-based compensation expenses, associated primarily with the Company’s finance, legal, human resources and other operational and administrative functions, professional fees for external legal, accounting and other consulting services, and allocated overhead. Share-Based Compensation The Company account for share-based compensation in accordance with ASC No. 718, “Compensation - Stock Compensation” (“ASC No. 718”). Share-based compensation expense related to share awards is recognized based on the fair value of the awards granted. The fair value of restricted stock units (“RSU”) is based on the closing market value of the underlying shares at the date of grant. The fair value of each option award is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the fair value of the underlying Ordinary Shares, the expected term of the option, the expected volatility of the price of the Company’s Ordinary Shares, risk-free interest rates, and the expected dividend yield of Ordinary Shares. The assumptions used to determine the fair value of the option awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The related share-based compensation expense is recognized on a straight-line basis over the requisite service period of the awards, including awards with graded vesting and no additional conditions for vesting other than service conditions. Forfeitures are accounted for as they occur. Income Taxes The Company is subject to income taxes in Israel, the U.S., U.K and other foreign jurisdictions. These foreign jurisdictions may have different statutory rates than in Israel. Income taxes are accounted in accordance with ASC 740, Income Taxes The Company recognizes income tax benefits from uncertain tax positions only if it believes that it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such uncertain tax positions are then measured based on the largest benefit that is more likely than not to be realized upon the ultimate settlement. Although the Company believes that it has adequately reserved for its uncertain tax positions (including net interest and penalties), it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made. Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders The Company computes net earnings (loss) per share using the two-class method required for participating securities. The two-class method requires income available to ordinary shareholders for the period to be allocated between Ordinary Shares and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Company considers its convertible preferred shares to be participating securities as the holders of the convertible preferred shares would be entitled to dividends that would be distributed to the holders of Ordinary Shares, on a pro-rata basis assuming conversion of all convertible preferred shares into Ordinary Shares. These participating securities do not contractually require the holders of such shares to participate in the Company’s losses. During the periods when the Company is in a net loss position, the net loss attributable to common shareholders was not allocated to the convertible Preferred Shares under the two-class method as these securities do not have a contractual obligation to share in our losses. The diluted net earnings per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury share method or the if-converted method based on the nature of such securities. During the . Segment Information The Company operates in one operating and reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the Company’s chief executive officer (“CEO”), in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. Revenue by geographical region can be found in the revenue recognition disclosures in Note 2 above. The following table presents the Company’s property and equipment, net of depreciation and amortization as well as the Company’s operating lease ROU assets by geographic region: December 31, 2019 2020 202 1 (in thousands) Israel $ 1,444 $ 1,685 $ 18,383 United Kingdom 212 3,093 2,642 United States 208 74 2,326 Rest of world 31 25 26 Total property and equipment, net $ 1,895 $ 4,877 $ 23,376 Legal Proceedings In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes, or claims. The Company investigates these claims as they arise. Although claims are inherently unpredictable, the Company is currently not aware of any matters that, if determined adversely to the Company, would individually or taken together, have a material adverse effect on its business, financial position, results of operations, or cash flows. Israeli Severance Pay Pursuant to Israel’s Severance Pay Law, Israeli employees are entitled to severance pay equal to one month’s salary for each year of employment, or a portion thereof. The Company has elected to include its employees in Israel under Section 14 of the Severance Pay Law, under which these employees are entitled only to monthly deposits made in their name with insurance companies, at a rate of 8.33% of their monthly salary. These payments release the Company from any future obligation under the Israeli Severance Pay Law to make severance payments in respect of those employees; therefore, any liability for severance pay due to these employees, and the deposits under Section 14 are not recorded as an asset in the consolidated balance sheets. During the years ended December 31, 2020 and 2021, the Company recorded $838 and $1,428, respectively, in severance expenses related to these employees. Warrants to preferred shares Prior to the IPO, the Company issued warrants to purchase the Company's convertible preferred shares which were classified as a liability on the balance sheet and measured at fair value. The Company measured the warrants at fair value by applying the Option Pricing Method ("OPM") in each reporting period until they were converted. Changes in the fair value being recognized in the Company's statement of operations as financial income or expense, as appropriate. Year Ended December 31, 2019 2020 2021 (in thousands) Beginning of the year $ 210 $ 215 $ 5,738 Change in fair value 5 5,523 5,872 Conversion to shares - - (11,610 ) End of year $ 215 5,738 $ - Funds receivable and payable to customers Funds receivable represent cash received or settled from end-customers via third-party payment service providers, which flows through a Company bank account for payment to the Company’s customers. This cash and related receivables represent the total amount due to the Company’s customers and as such, a liability for the same amount is recorded to funds payable to customers. Recently Adopted Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment (Topic 350). This standard eliminates Step 2 from the goodwill impairment test, instead requiring an entity to recognize a goodwill impairment charge for the amount by which the goodwill carrying amount exceeds the reporting unit's fair value. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted. This guidance must be applied on a prospective basis. The new guidance was adopted by the Company on January 1, 2020 with no impact on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. The guidance will

Prepaid expenses and other curr

Prepaid expenses and other current assets	12 Months Ended
	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses and other current assets	3. Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following: December 31, 2020 2021 (in thousands) Indirect tax receivables and related prepaid expenses $ 20,591 $ 39,030 Prepaid expenses 2,388 6,271 Other 68 1,267 Prepaid expenses and other current assets 23,047 46,568

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net Property and equipment, net consisted of the following: December 31, 2020 202 1 (in thousands) Computer and software $ 998 $ 1,603 Furniture and office equipment 162 429 Leasehold improvements 263 2,271 Property and equipment, gross 1,423 4,303 Less: accumulated depreciation and amortization (706 ) (1,034 ) Property and equipment, net $ 717 $ 3,269 Depreciation and amortization expense were $171, $235 and $331 for the years ended December 31, 2019, 2020 and 2021, respectively. During the year ended December 31, 2021, the Company wrote-off $3 of fully depreciated assets.

Commercial Agreement Assets

Commercial Agreement Assets	12 Months Ended
	Dec. 31, 2021
Commercial Agreement Assets [Abstract]
Commercial Agreement Assets	5. Commercial Agreement Asset During the year ended December, 2021, the Company recognized an asset in connection with a commercial agreement with Shopify Inc., in which the Company granted warrants in exchange for the benefit of being an exclusive third-party provider of an end-to-end cross border solution. This asset represents the probable future economic benefit to be realized over a four-year expected benefit period and is valued based on the fair value of the vested warrants on the grant date. The Company recognized an asset of $280.8 million associated with the fair value of the vested warrants. For the year ended December 31, 2021, the Company recorded amortization expense related to the commercial agreement asset of $84.3 million in the Company’s consolidated statements of operations and comprehensive loss as a component of sales and marketing expense.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	6. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: December 31, 2020 2021 (in thousands) Accrued Expenses $ 3,769 $ 11,668 Accrued indirect taxes and related liabilities 15,301 15,798 Accrued compensation and benefits 4,589 9,797 Advancements from customers 4,417 7,426 Other current liabilities 1,356 2,669 Accrued expenses and other current liabilities $ 29,432 47,358

Convertible Preferred shares, s

Convertible Preferred shares, shareholders' Deficit and Equity incentive Plan	12 Months Ended
	Dec. 31, 2021
Convertible Preferred Shares, Shareholders’ Deficit And Equity Incentive Plan [Abstract]
Convertible Preferred shares, shareholders’ Equity (Deficit) and Equity incentive Plan	7. Convertible Preferred shares, shareholders’ Equity (Deficit) and Equity incentive Plan a. General: The Ordinary Shares entitle their holders to receive notice to participate and vote in general meetings of the Company, the right to share in distributions upon liquidation of the Company, and to receive dividends, if declared. On March 21, 2021, the Company's shareholders approved the change of share capital from NIS 0.01 par value to no par-value. The change in par value has not yet been filed with and by the Israel Corporate Registrar, which filing is declarative in nature. On March 21, 2021, the Company's shareholders approved a share split of the Company’s Ordinary Shares at a ratio of 1-to 600. As a result of the share split, (i) every one authorized, issued and outstanding ordinary share was increased to six hundred (600) of shares authorized, issued and outstanding Ordinary Shares, (ii) the number of Ordinary Shares into which each outstanding option to purchase an Ordinary Share is exercisable was proportionally increased on a 1-to 600 basis, (iii) all share prices and exercise prices were proportionally decreased. All of the share numbers, share prices, and exercise prices have been adjusted within these consolidated financial statements, on a retroactive basis, to reflect this 1-to 600 shares split, and (iv) the conversion ratio for the convertible preferred shares to Ordinary Shares was updated on a 1-to 600 basis. All references to ordinary and convertible preferred shares amounts and per share amounts have been retroactively restated to reflect the change in par value as if it had taken place as of the beginning of the earliest period presented. b. Share options plans: In 2013, the Company adopted the Global-e Online Ltd. 2013 Share Incentive Plan (“2013 Plan”), under which the Company may grant various forms of equity incentive compensation at the discretion of the board of directors, including share options. The awards have varying terms, but generally vest over four years. Share options expire 10 years after the date of grant. The Company issues new Ordinary Shares upon exercise of share options. In February 2019, the Company extended the contractual term for all share option grants from 7 years to 10 years. The Company concluded that the extension of the contractual term for all share option grants modified the terms of all outstanding share options held by employees and nonemployees. We no longer grant any awards under the 2013 Plan as it was superseded by the 2021 Plan, although previously granted awards remain outstanding. Ordinary Shares subject to outstanding options granted under the 2013 Plan that expire or become unexercisable without having been exercised in full will become available again for future grant under the 2021 Plan. The 2021 Share Incentive Plan, or the 2021 Plan, was adopted by our board of directors on March 1, 2021. The 2021 Plan provides for the grant of equity-based incentive awards to our employees, directors, office holders, service providers and consultants in order to incentivize them to increase their efforts on behalf of the Company and to promote the success of the Company’s business. The maximum number Ordinary Shares available for issuance under the 2021 Plan is equal to the sum of (i) 13,500,000 shares, (ii) any shares subject to awards under the 2013 Plan which have expired, or were cancelled, terminated, forfeited or settled in cash in lieu of issuance of shares or became unexercisable without having been exercised, and (iii) an annual increase on the first day of each year beginning in 2022 and on January 1st of each calendar year thereafter during the term of the Plan, equal to five percent (5%) of the outstanding ordinary shares of the Company on the last day of the immediately preceding calendar year. No more than 13,500,000 Ordinary Shares may be issued upon the exercise of incentive stock options, or ISOs. If permitted by our board of directors, shares tendered to pay the exercise price or withholding tax obligations with respect to an award granted under the 2021 Plan or the 2013 Plan may again be available for issuance under the 2021 Plan. Our board of directors may also reduce the number of Ordinary Shares reserved and available for issuance under the 2021 Plan in its discretion. A summary of share option activity under the Company’s equity incentive plan and related information is as follows: Options Outstanding Outstanding Share Options Weighted-Average Exercise Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic (in thousands, except share, life and per share data) Balance as of December 31, 2020 12,418,350 $ 2.04 7.83 $ 121,325.91 Granted - Exercised (1,994,371 ) $ 0.83 $ 124,762.70 Forfeited (291,825 ) $ 2.66 Balance as of December 31, 2021 10,132,154 $ 2.26 7.13 $ 619,339.90 Exercisable as of December 31, 2021 7,955,457 $ 2.15 6.80 $ 487,203.07 The weighted-average grant date fair value of options granted during the years ended December 31, 2019 and 2020, was $0.13, $3.05 respectively. During the year ended December 31, 2021, no options were granted. As of December 31, 2021, unrecognized share-based compensation cost related to unvested share options was $8,787, which is expected to be recognized over a weighted-average period 2.30 years. The Black-Scholes assumptions used to value the employee options at the grant dates are as follows: Year Ended December 31, 2019 2020 Expected term (years) 6.11 6.11 Expected volatility 70.0 % 70.0 % Risk-free interest rate 1.7% - 2.6 % 0.37% - 1.45 % Expected dividend yield 0.0 % 0.0 % F - 23 Global-e Online Ltd. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS These assumptions and estimates were determined as follows: • Fair Value of Ordinary Shares . Prior to IPO, the fair value was determined by our board of directors, with input from management and valuation reports prepared by third-party valuation specialists. Post IPO, the fair value of each ordinary share was based on the closing price of our publicly traded Ordinary Shares as reported on the date of the grant. • Risk-Free Interest Rate . The risk-free rate for the expected term of the options is based on the Black-Scholes option-pricing model on the yields of U.S. Treasury securities with maturities appropriate for the expected term of employee share option awards. • Expected Term . The expected term represents the period that options are expected to be outstanding. For option grants that are considered to be “plain vanilla,” the Company determines the expected term using the simplified method. The simplified method deems the term to be the average of the time-to-vesting and the contractual life of the options. • Expected Volatility . Since the Company has no trading history of its Ordinary Shares, the expected volatility is derived from the average historical share volatilities of several unrelated public companies within the Company’s industry that the Company considers to be comparable to its own business over a period equivalent to the option’s expected term. • Expected Dividend Yield . The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. As a result, an expected dividend yield of zero percent was used. A summary of RSU’s activity under the Company’s equity incentive plan and related information is as follows: Amount of RSU’s Weighted average grant date fair value Unvested as of December 31, 2020 - $ - Granted 467,589 63.75 Vested 24,571 68.46 Forfeited - Unvested as of December 31, 2021 443,018 $ 63.49 As of December 31, 2021, unrecognized share-based compensation cost related to unvested RSU’s was $23,402, which is expected to be recognized over a weighted-average period 2.55 years. F - 24 Global-e Online Ltd. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Share-Based Compensation The share-based compensation expense by line item in the accompanying consolidated statements of operations is summarized as follows: Year Ended December 31, 2019 2020 2021 (in thousands) Cost of revenue $ 2 $ 10 $ 85 Research and development 79 507 4,192 Sales and marketing 22 442 1,287 General and administrative 118 2,997 6,437 Total share-based compensation expense $ 221 $ 3,956 $ 12,001 Convertible preferred shares at December 31, 2020 consisted of the following: December 31, 2020 Designated Shares Authorized Shares Series A 19,298 19,298 Series A-1 20,364 20,364 Series B-1 37,361 37,361 Series B-2 17,792 17,792 Series C 15,822 15,822 Series D-1 27,758 27,758 Series E 23,706 23,706 Total convertible preferred shares 162,101 162,101 The Company has the following Ordinary Shares reserved for future issuance: December 31, 2020 2021 Conversion of convertible preferred shares 97,260,600 - Outstanding share options 12,418,350 10,132,154 Unvested RSU’s - 443,018 Remaining shares available for future issuance under the 2021 Plan 3,470,250 2,749,064 Total shares of ordinary shares reserved 113,149,200 13,324,236 Ordinary Share warrants Ordinary Share warrants are included as a component of additional paid in capital within the consolidated balance sheets. During the year ended December 31, 2021, the Company granted warrants to purchase 19,604,239 shares of Ordinary Shares in connection with a commercial agreement with Shopify Inc. The exercise price was $0.01 per share, and the term of the warrants was 10 years. We valued the warrants at the grant date using the Black-Scholes-Merton option pricing model. In connection with these warrants, we recognized an asset of $280.8 million at December 31, 2021 associated with the fair value of the warrants, of which 11,701,759 were vested and exercised as of December 31, 2021. This asset is recorded in the Company’s consolidated balance sheets. Refer to Note 5. Third Party Share Transactions In April and November 2020, the Company recorded $1,346 and $809, respectively, of share-based compensation expenses associated with the two secondary share purchase transactions during the year ended December 31, 2020. The secondary share purchase transactions were executed among certain of the Company’s founders, employees, and shareholders. The April 2020 secondary share purchase transaction was consummated concurrently with the issuance of the Company’s Series E convertible preferred shares. The Company assessed the impact of these transactions as holders of economic interest in the Company acquired shares from the Company’s employees and founders at a price in excess of fair value of such shares. Accordingly, the Company recognized such excess value as share-based compensation expense.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	8. Leases The Company`s leases include offices worldwide, as well as car leases, which are all classified as operating leases. Certain leases include renewal options that are under the Company`s sole discretion. The renewal options were included in the ROU and liability calculation if it was reasonably certain that the Company will exercise the option. For short-term leases with a term of 12 months or less, operating lease ROU assets and liabilities are not recognized and the Company records lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. The components of lease expense and supplemental cash flow information related to leases for the years ended December 31, 2019, 2020 and 2021 were as follows: Year ended Year ended Year ended December 31, 2019 December 31, 2020 December 31, 2021 Components of lease expenses Operating lease cost $ 655 $ 1,023 $ 1,406 Short-term lease $ 22 $ 66 $ 51 Total lease expenses $ 677 $ 1,089 $ 1,457 Year ended Year ended Year ended December 31, 2019 December 31, 2020 December 31, 2021 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities $ 684 $ 1,017 $ 1,015 Supplemental non-cash information related to lease liabilities from obtaining ROU assets $ 1,209 $ 3,734 $ 17,329 For the year ended December 31, 2021, the weighted average remaining lease term is 9.1 years, and the weighted average discount rate is 3.29 percent. The discount rate was determined based on the estimated collateralized borrowing rate of the Company, adjusted to the specific lease term and location of each lease. Maturities of lease liabilities as of December 31, 2021 were as follows: December 31, (in thousands) Year Ending December 31, 2022 $ 2,549 2023 2,896 2024 2,632 2025 2,644 2026 2,656 Thereafter 11,049 Total operating lease payments $ 24,426 Less: imputed interest 3,105 Total $ 21,321

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes a. Israeli taxation: 1. Industry Encouragement (Taxes) Law, 1969 The company has the status of an "industrial company" within the meaning of this law. In accordance with this status and by virtue of published regulations, the Company is entitled to claim a depreciation deduction at increased rates in respect of equipment used in industrial activity, as stipulated in regulations by virtue of the Adjustments Law. In addition, the Company is entitled to a reduction in respect of a patent or the right to utilize a patent or knowledge, used for the development or promotion of the plant, to deduct expenses for the issuance of shares listed on the stock exchange and to file a consolidated report under certain conditions. 2. Ordinary taxable income in Israel is subject to a corporate tax rate of 23%. 3. The Company has not received any final tax assessments since inception. 4. The Company has net operating losses from prior tax periods which may be subjected to examination in future periods. As of December 31, 2021, the Company’s tax years until December 31, 2015 are subject to statutes of limitation in Israel. 5. Measurement of taxable income in U.S. dollars: The Company has elected to measure its taxable income and file its tax return under the Israeli Income Tax Regulations (Principles Regarding the Management of Books of Account of Foreign Invested Companies and Certain Partnerships and the Determination of Their Taxable Income), 1986. Accordingly, results for tax purposes are measured in terms of earnings in dollars. b. Income taxes of non-Israeli subsidiaries: Non-Israeli subsidiaries are taxed according to the tax laws in their respective countries of residence. The Company does not provide deferred tax liabilities when it intends to reinvest earnings of foreign subsidiaries indefinitely no tax liability will be imposed. Undistributed earnings of foreign subsidiaries that are not distributed amounted to $5,030 and unrecognized deferred tax liability related to such earning amounted to $1,157 as of December 31, 2021. c. The components of the net profit (loss) before the provision for income taxes were as follows: Year Ended December 31, 2019 2020 2021 (in thousands) Israel (4,932 ) 1,293 (83,028 ) Foreign (2,578 ) 2,781 8,800 Total (7,510 ) 4,074 (74,228 ) d. The provision for income taxes was as follows: Year Ended December 31, 2019 2020 2021 (in thousands) Current: Israel $ - $ 16 $ - Foreign 41 92 $ 795 Total current income tax expense 41 108 $ 795 Deferred: Israel - - - Foreign (7 ) 52 (90 ) Total deferred income tax (benefit) expense (7 ) 52 (90 ) Total provision for income taxes $ 34 $ 160 $ 705 e. Reconciliation of the theoretical tax expenses: A reconciliation of the Company’s theoretical income tax expense to actual income tax expense is as follows: Year Ended December 31, 2019 2020 2021 (in thousands) Theoretical income tax expense (benefit) $ (1,727 ) $ 937 $ (17,072 ) Change in valuation allowance 1,506 (2,235 ) 26,822 Return to provision true ups - - (2,490 ) Foreign tax rate differentials 56 (150 ) (76 ) Non-deductible Share-based compensation 26 910 1,513 Non-deductible expenses 122 1,290 1,517 Deductible expenses - - (9,661 ) Foreign exchange impact (41 ) (357 ) 273 State Taxes - - 63 Other 92 (235 ) (184 ) Total $ 34 $ 160 $ 705 f. Deferred tax assets and liabilities: Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following table presents the significant components of the Company’s deferred tax assets and liabilities: December 31, 2020 2021 (in thousands) Deferred tax assets: Net operating loss carryforwards *) 6,052 30,129 Research and development expenses 2,889 4,327 Leasing liabilities 1,018 4,823 Accruals and reserves 296 351 Share-based compensation - 1,371 Gross deferred tax assets 10,255 41,001 Valuation allowance (9,255 ) (36,077 ) Total deferred tax assets 1,000 4,924 Deferred tax liabilities: Deferred contract acquisition costs 90 376 Leasing assets 957 4,548 Property and equipment 43 - Gross deferred tax liabilities 1,090 4,924 Net deferred taxes $ 90 - *) Refer to note 8g. A valuation allowance is provided when it is more likely than not that the deferred tax assets will not be realized. The Company has established a valuation allowance to offset the deferred tax assets at December 31, 2020 and 2021 due to the uncertainty of realizing future tax benefits from its net operating loss carryforwards and other deferred tax assets. The net change in the total valuation allowance for the year ended December 31, 2021 was a decrease of $26,822. As of December 31, 2021, the Company had approximately $103,832 in net operating loss carryforwards in Israel that can be carried forward indefinitely. g. Uncertain tax position The Company operates its business in various countries, and accordingly attempts to utilize an efficient operating model to structure its tax payments based on the laws in the countries in which the Company operates. This can cause disputes between the Company and various tax authorities in different parts of the world. A reconciliation of the beginning and ending amount of unrecognized tax benefits related to uncertain tax positions is as follows: December 31, 2020 2021 (in thousands) Beginning balance - - Increases related to tax positions taken during the current year *) - 19,389 Ending balance - 19,389 *) As of December 31, 2021 unrecognized tax benefit in amount of $19.4 million was related to Net operating loss carryforwards for which the Company has recognized valuation allowance.

Net Earnings (Loss) Per Share A

Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders	9. Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders for the periods presented: Year Ended December 31, 2019 2020 2021 (in thousands, except share and per share data) Basic net profit (loss) per share Numerator: Allocation of net profit (loss) (7,544 ) 3,914 (74,933 ) Net income allocated to preferred shareholders - 3,189 - Allocation of net profit (loss) attributable to Ordinary shareholders (7,544 ) 725 (74,933 ) Denominator: Weighted-average shares used in computing net profit (loss) per share attributable to Ordinary shareholders 19,654,276 21,120,208 101,737,026 Basic net profit (loss) per share attributable to Ordinary shareholders (0.38 ) 0.03 (0.74 ) Diluted net profit (loss) per share Numerator: Allocation of net profit (loss) attributable for diluted computation (7,544 ) 725 (74,933 ) Denominator: Shares used in computing net earnings per share of ordinary share, basic 19,654,276 21,120,208 101,737,026 Weighted average effect of dilutive securities - effect of stock-based awards - 7,517,593 - Weighted-average shares used in computing net profit (loss) per share attributable to Ordinary shareholders 19,654,276 28,637,801 101,737,026 Diluted net profit (loss) per share attributable to ordinary shareholders (0.38 ) 0.03 (0.74 ) The potential shares of Ordinary Shares that were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because including them would have been anti-dilutive are as follows: Year Ended December 31, 2019 2020 2021 Convertible preferred shares 83,037,000 92,946,600 - Unvested RSU’s - - 443,018 Outstanding warrants to Ordinary Shares - - 7,902,480 Warrants to convertible shares - 312,600 - Outstanding share options 9,154,800 - 10,132,154 Total 92,191,800 93,259,200 18,477,652

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions The Company is party to a Commercial Letter with DHL International GmbH (“DHL International”), dated March 27, 2017 and amended on December 7, 2020, pursuant to which the Company has undertaken to use DHL International exclusively for the provision of express shipping services to the Company’s customers, subject to certain exclusions described therein, and DHL International has undertaken certain commitments relating to the prices under which its services are offered to the Company. The current term of the Commercial Letter ends on March 27, 2022 and shall renew automatically thereafter until terminated by either the Company or DHL International upon twelve (12) months’ notice. In addition, the Company is party to a services agreement with DHL International (UK) Limited (“DHL UK”), dated May 21, 2019, under which DHL UK provides the Company with express shipping services relating to the purchase and sale of the Company’s customers’ products. The service agreement continues until terminated by either the Company or DHL UK in accordance with its terms. The consideration paid by the Company to DHL UK pursuant to the service agreement is contingent upon the extent of the shipping services provided. The Company entered similar arrangements with other DHL affiliated entities in the Netherlands, France and Spain. In connection with these arrangements, the Company recorded expenses included in Cost of revenue in the total amount of $26,106, $53,861 and $90,315 to DHL affiliated entities in the years ended December 31, 2019, 2020 and 2021, respectively. As of December 31, 2020 and 2021, the balances of accounts payable and accrued expenses in regards to DHL and its affiliated entities were $17,178 and $21,515, respectively (including duties charged by DHL).

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	11. Fair Value Measurements Financial instruments measured at fair value on a recurring basis include warrants to convertible preferred shares. The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis: December 31, 2021 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Mutual Funds $ 1,274 $ - $ - $ 1,274 Government debentures - 1,908 - 1,908 Corporate debentures - 15,282 - 15,282 Total financials assets $ 1,275 $ 17,190 $ - $ 18,464 December 31, 2020 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Mutual Funds $ 1,200 $ - $ - $ 1,200 Government debentures - 1,359 - 1,359 Corporate debentures - 14,312 - 14,312 Total financials assets $ 1,200 $ 15,671 $ - $ 16,871 Liabilities Warrant to convertible preferred shares 5,738 5,738 Total financials liabilities $ - $ - $ 5,738 $ -

Marketable Securities

Marketable Securities	12 Months Ended
	Dec. 31, 2021
Marketable Securities [Abstract]
Marketable Securities	12. Marketable Securities At December 31, 2021 the Company held marketable securities classified as available-for-sale securities as follows: December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Gross Realized Losses Fair Value Mutual funds $ 1,252 22 - $ - $ 1,274 Government debentures $ 1,894 23 - $ (9 ) $ 1,908 Corporate debentures $ 15,617 $ 24 $ (228 ) $ (131 ) $ 15,282 18,763 $ 69 $ (228 ) $ (140 ) $ 18,464 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mutual funds $ 1,200 - - $ 1,200 Government debentures $ 1,360 6 $ (7 ) $ 1,359 Corporate debentures $ 14,200 $ 116 $ (4 ) $ 14,312 $ 16,760 $ 122 $ (11 ) $ 16,871

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On November 24, 2021, we entered into an agreement to acquire Flow Commerce Inc. (“Flow”) through the statutory merger of Flow with Global-e NewCo Inc., our wholly owned indirect subsidiary, with Flow as the surviving corporation and our wholly owned subsidiary. The Flow Merger closed on January 3, 2022 and is expected to strengthen our offering and capabilities, to allow us access to additional addressable markets of emerging brands not currently eligible to use our services. The deal is valued at up to approximately $500 million (in equal portions of cash and Global-e shares), comprised of a base consideration of approximately $425 million and up to approximately $75 million in potential additional consideration based on certain financial results in 2021. Concurrently, Global-e has signed an agreement to expand the strategic partnership with Shopify and issued to Shopify warrants to purchase (A) up to an aggregate of 1,289,064 of our ordinary shares for a purchase price of $0.01 per share which vested on the date of the agreement and since have been exercised in full, and (B) up to an aggregate of 738,081 of the Company’s ordinary shares for a purchase price of $0.01 per share which vest upon certain performance milestones. The Company expects to recognize an asset of approximately $71 million related to the 1,289,064 warrants, this asset represents the probable future economic benefit to be realized over a four-year period and is determined based on the fair value of the warrants at the grant date. The amount of future expense related to the 738,081 warrants upon meeting the milestones, is expected to be up to approximately $41 million and will be recognized as an expense over a four-year period which represents the probable future economic period. The amortization will be included within the sales and marketing expenses.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Global-E Online Ltd. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified in order to conform to the current period presentation.
Initial Public Offering	Initial Public Offering On May 14, the Company has completed its initial public offering (“IPO”), pursuant to which the Company issued and sold 17,250,000 Ordinary Shares at an offering price of $25 per share, including 2,500,000 Ordinary Shares for exercising the underwriters’ option to purchase additional shares. The Company has received proceeds of $396.4 million net of deduction of underwriting discounts and commissions of $30.2 million, and other issuance costs of $4.7 million. Upon consumption of the IPO, 19,298 Preferred A Shares, 20,364 Preferred A-1 Shares, 37,361 Preferred B-1 Shares, 17,792 Preferred B-2 Shares, 15,822 Preferred C Shares, 27,758 Preferred D-1 Shares and 23,706 Preferred E Shares were converted to Ordinary Shares in a 1:600 ratio. A total of 464,400 warrants to purchase the Company's convertible Preferred Shares were converted to Ordinary Shares upon consummation of the IPO.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods and accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligations, the estimated customer life on deferred contract acquisition costs, the allowance for doubtful accounts, the fair value of financial assets and liabilities; including accounting and fair value of derivatives, the fair value of acquired intangible assets and goodwill, the useful lives of acquired intangible assets and property and equipment, share-based compensation including the determination of the fair value of the Company’s Ordinary Shares, and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates.
Foreign Currency	Foreign Currency The functional currency of the Company is the U.S. dollar. Accordingly, foreign currency assets and liabilities are remeasured into U.S. dollars at the end-of-period exchange rates except for non-monetary assets and liabilities, which are measured at historical exchange rates. Revenue and expenses are remeasured each day at the exchange rate in effect on the day the transaction occurred.
Concentration of Risks	Concentration of Risks Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, restricted cash, short-term deposits, accounts receivable and marketable securities. The Company maintains its cash, cash equivalents, restricted cash, and short-term deposits with high-quality financial institutions mainly in the U.S., UK and Israel, the composition and maturities of which are regularly monitored by the Company. In the years ended December 31, 2019, 2020 and 2021, the revenue generated by the Company’s largest customer was $16,219, $24,534 and $31,346, respectively. As of December 31, 2020 and 2021, the net amount due to the Company’s largest customer was $8,264 and $8,482, respectively.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents consist of cash in banks. The Company considers all highly liquid investments, with an original maturity of three months or less at the date of purchase, to be cash equivalents. The Company maintains certain cash amounts restricted as to its withdrawal or use. The Company’s restricted cash primarily consists of security deposits collateralizing the Company’s operating leases. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: December 31, 2019 2020 202 1 Cash and cash equivalents $ 5,034 $ 68,637 $ 448,623 Cash and cash equivalents included in funds receivable $ 15,138 $ 16,193 $ 10,063 Restricted cash included in other assets $ 197 $ 203 $ 213 Total cash, cash equivalents, and restricted cash $ 20,369 $ 85,033 $ 458,899
Marketable Securities	Marketable Securities The Company classifies its marketable securities as available-for-sale at the time of purchase and re-evaluates such classification at each balance sheet date. The Company may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, the Company classifies its marketable securities, including those with maturities beyond 12 months, as current assets in the Consolidated Balance Sheets. The Company carries these securities at fair value and records unrealized gains and losses, net of taxes, in accumulated other comprehensive income, which is reflected as a component of shareholders’ equity (deficit). The Company periodically evaluates its marketable securities to assess whether those with unrealized loss positions are other-than-temporarily impaired. If the cost of an individual security exceeds its fair value, the Company evaluates, among other factors, general market conditions, the duration and extent to which the fair value is less than the cost basis, and the Company’s intent and ability to hold the security. If the Company believes that a decline in fair value is determined to be other-than-temporary, the Company writes down the security to fair value. Realized gains and losses and declines in fair value judged to be other than temporary on available-for-sale marketable securities are reported in interest income, net in the Consolidated Statements of Operations. For the year ended December 31, 2021 the Company has recognized other than temporary impairment in the amount of $140 in its Consolidated Statements of Operations as a result of the Company intention to sell specific Marketable securities.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company measures financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Three levels of inputs may be used to measure fair value: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial instruments consist of cash and cash equivalents, restricted cash, short-term deposits, accounts receivables, accounts payables, accrued liabilities, warrants to convertible preferred shares and marketable securities. Short-term deposits, Cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date. Warrants to preferred share and marketable securities are stated at fair value on a recurring basis. See note 12.
Other Comprehensive Income	Other Comprehensive Income (loss) The Company accounts for comprehensive income (loss) in accordance with Accounting Standards Codification No. 220, "Comprehensive Income" ("ASC No. 220"). This statement establishes standards for the reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. Comprehensive income generally represents all changes in shareholders' deficit during the period except those resulting from investments by, or distributions to shareholders. The total accumulated other comprehensive income was comprised as follows: Year ended December 31, 2020 2021 Unrealized gain on marketable securities Unrealized gain (loss) on marketable securities Beginning balance $ - $ 111 Net current period other comprehensive income (loss) 111 (410 ) reclassification adjustments for losses included in net income - 140 Total accumulated other comprehensive income (loss) $ 111 $ (159 )
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable are recorded at the invoiced amount and amounts for which revenue has been recognized but not invoiced, net of allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts based on a combination of factors, including an assessment of the current customer’s aging balance, the nature and size of the customer, the financial condition of the customer, and the amount of any receivables in dispute. Accounts receivable deemed uncollectable are charged against the allowance for doubtful accounts when identified. The allowance of doubtful accounts was not material for the periods presented.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets. Expenditures for maintenance and repairs are expensed as incurred. The estimated useful lives of the Company’s property and equipment are as follows: Computer and software 3 years Furniture and office equipment 3 – 7 years Leasehold improvements Shorter of remaining lease term or estimated useful life
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates the recoverability of long-lived assets, including property and equipment and intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be fully recoverable. Such events and changes may include significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in the Company’s business strategy. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of long-lived assets is not recoverable, the carrying amount of such assets is reduced to fair value. There were no impairment charges to long-lived assets during the periods presented.
Capitalized Software Costs	Capitalized Software Costs Costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development are capitalized. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation operational stage are expensed as incurred. Costs incurred during the application development stage of the project are capitalized. Maintenance costs are expensed as incurred.
Revenue Recognition	Revenue Recognition The Company’s revenues are comprised of: 1. Service Fees –The Company provides merchants a cross-border e-commerce platform which enables to sell their products to consumers worldwide. Revenue is generated as a percentage of the value of transactions that flow through the Company’s platform. 2. Fulfillment services – The Company offers shipping, handling, and other global delivery services in order to deliver merchants’ goods to consumers. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services are delivered. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these goods or services. To achieve the core principle of this standard, the Company applied the following five steps: 1. Identification of the contract, or contracts, with the customer The Company determines that it has a contract with a customer when each party’s rights regarding the products or services to be transferred can be identified, the payment terms for the services can be identified, the Company has determined the customer has the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. 2. Identification of the performance obligations in the contract Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the products or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products and services is separately identifiable from other promises in the contract. The Company identified two distinct performance obligations: service fees and fulfillment services. The Company Offers its platform service solution on a standalone basis (i.e., without the fulfillment services), fulfillment services are offered on an optional basis. Customers may choose to utilize or cease utilizing fulfillment services, either in whole or for select markets, at any time and from time to time. 3. Determination of the transaction price The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products or delivery of services to the customer. The Company applied the practical expedient in ASC 606 and did not evaluate payment terms of one year or less for the existence of a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). 4. Allocation of the transaction price to the performance obligations in the contract Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on each performance obligation’s relative standalone selling price ("SSP"). To determine SSP, the Company maximizes the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, the Company uses the expected cost-plus margin approach to estimate the standalone selling price based on a defined matrix that takes into consideration, among others, the weight, volume and shipping lane of the package. The Company also utilizes available information that may include market conditions, pricing strategies, and other observable inputs. In some cases, the Company provides the platform service solution on a standalone basis. (i.e., without the fulfillment services) since fulfillment service is optional. As for the fulfillment services, the Company provides such services only alongside the platform service solution. 5. Recognition of the revenue when, or as, a performance obligation is satisfied Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised product or delivery of service to the customer. Revenue is recognized in an amount that reflects the consideration that the Company expects to receive in exchange for those products or services. For each performance obligation identified, the Company is required to determine whether control of the good or service transfers to the customer over time or at a point in time. The assessment of whether control transfers over time or at a point in time is critical to the timing of revenue recognition. The control over the promised services for each of the components is transferred as follow: a. Service Fees -the revenues are recognized once the transaction is considered completed, when the payment is processed by the Company, and the merchant goods arrive at the Company’s hub. The Company determined it acts as an agent since it does not have control over the goods provided to the shopper, based on the agreement with the merchant. The Company is not primarily responsible for the acceptability of the goods (for example – the quality of the goods provided to the consumer). Furthermore, the Company has no discretion in determining the prices paid by the consumer for the goods. The Company earns a fee based on a fixed percentage of the total amount of the goods. Therefore, revenues derived from the service fees are presented on a net basis. b. Fulfillment services - the service is recognized over the shipment time starting upon the dispatch to the carrier until it reaches the consumer. The Company determined it acts as a principal since it is the primary obligor to fulfill its promise to its customers, controls the services (i.e. the Company directs other parties to provide services on its behalf), has discretion in determining the carrier it uses to provide the service and bears the risk of loss if the actual cost of the fulfillment service will exceed the fee. Therefore, revenues derived from the fulfillment services are presented on a gross basis. The Company elected to apply the optional exemption under ASC 606 not to disclose the remaining performance obligations that relate to contracts with an original expected duration of one year or less. Disaggregation of Revenue The following table summarizes revenue by category: Year Ended December 31, 2019 2020 2021 Percentage Percentage Percentage Amount of Revenue Amount of Revenue Amount of Revenue (in thousands, except percentages) Service fees 23,498 36 % 49,927 37 % 96,659 39 % Fulfillment services 42,354 64 % 86,448 63 % 148,615 61 % Total revenue $ 65,852 100 % $ 136,375 100 % $ 245,274 100 % The Company's revenues from service fees provided on a standalone basis were $1,002, $2,627 and $8,366 for the years ended December 31, 2019, 2020 and 2021, respectively. The following table summarizes revenue by merchant outbound region: Year Ended December 31, 2019 2020 2021 Percentage Percentage Percentage Amount of Revenue Amount of Revenue Amount of Revenue (in thousands, except percentages) United Kingdom 51,799 79 % 80,122 59 % 113,835 47 % United States 9,529 14 % 34,140 25 % 71,095 29 % European Union 4,344 7 % 21,269 15 % 58,177 23 % Israel 180 * ) 844 1 % 1,052 * ) Other - - - - 1,115 * ) Total revenue $ 65,852 100 % $ 136,375 100 % $ 245,274 100 % *) Less than 1%
Cost to Obtain a Contract	Cost to Obtain a Contract The Company capitalizes sales commissions paid to sales personnel that are incremental to the acquisition of customer contracts. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans and if the commissions are incremental and would not have occurred absent the customer contract. Sales commissions paid upon the initial acquisition of a customer contract for sales personnel and affiliates are amortized mainly over an estimated period of benefit of five years. The Company determines the period of benefit for sales commissions paid for the acquisition of the initial customer contract by taking into consideration the estimated technological life of the Company’s solution. Amortization of sales commissions are consistent with each performance obligation and are included in sales and marketing expense in the consolidated statements of operations. The Company has applied the practical expedient in ASC 606 to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. There were no impairment losses recorded during the periods presented. The following table represents a rollforward of deferred contract acquisition costs: Year Ended December 31, 2019 2020 202 1 (in thousands) Beginning balance $ 318 $ 563 $ 987 Additions to deferred contract acquisition costs 343 618 1,188 Amortization of deferred contract acquisition costs (98 ) (194 ) (374 ) Ending balance $ 563 $ 987 $ 1,801 Deferred contract acquisition costs (to be recognized in next 12 months included in other current assets) $ 143 $ 264 $ 487 Deferred contract acquisition costs, noncurrent 420 723 1,314 Total deferred contract acquisition costs $ 563 $ 987 $ 1,801
Cost of Revenue	Cost of Revenue Cost of revenue primarily consists of expenses related to fulfillment of its services, which mainly include shipping costs, acquiring costs, payroll and allocated overhead. Overhead is allocated to cost of revenue based on applicable headcount.
Research and Development	Research and Development Research and development costs include personnel-related expenses associated with the Company’s development personnel responsible for the design, development and testing of its products, cost of development environments and tools, and allocated overhead. Overhead is allocated to research and development based on applicable headcount. Research and development costs are expensed as incurred.
Sales, Marketing, General and Administrative Costs	Sales and Marketing Costs Sales and Marketing costs include mainly personnel-related expenses, sales commissions, direct marketing, events, public relations, commercial agreement amortization (See note 5) and allocated overhead. Overhead is allocated to sales and marketing based on applicable headcount. General and Administrative General and administrative expenses primarily consist of personnel-related expenses, including share-based compensation expenses, associated primarily with the Company’s finance, legal, human resources and other operational and administrative functions, professional fees for external legal, accounting and other consulting services, and allocated overhead.
Share-Based Compensation	Share-Based Compensation The Company account for share-based compensation in accordance with ASC No. 718, “Compensation - Stock Compensation” (“ASC No. 718”). Share-based compensation expense related to share awards is recognized based on the fair value of the awards granted. The fair value of restricted stock units (“RSU”) is based on the closing market value of the underlying shares at the date of grant. The fair value of each option award is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the fair value of the underlying Ordinary Shares, the expected term of the option, the expected volatility of the price of the Company’s Ordinary Shares, risk-free interest rates, and the expected dividend yield of Ordinary Shares. The assumptions used to determine the fair value of the option awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The related share-based compensation expense is recognized on a straight-line basis over the requisite service period of the awards, including awards with graded vesting and no additional conditions for vesting other than service conditions. Forfeitures are accounted for as they occur.
Income Taxes	Income Taxes The Company is subject to income taxes in Israel, the U.S., U.K and other foreign jurisdictions. These foreign jurisdictions may have different statutory rates than in Israel. Income taxes are accounted in accordance with ASC 740, Income Taxes The Company recognizes income tax benefits from uncertain tax positions only if it believes that it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such uncertain tax positions are then measured based on the largest benefit that is more likely than not to be realized upon the ultimate settlement. Although the Company believes that it has adequately reserved for its uncertain tax positions (including net interest and penalties), it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made.
Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders	Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders The Company computes net earnings (loss) per share using the two-class method required for participating securities. The two-class method requires income available to ordinary shareholders for the period to be allocated between Ordinary Shares and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Company considers its convertible preferred shares to be participating securities as the holders of the convertible preferred shares would be entitled to dividends that would be distributed to the holders of Ordinary Shares, on a pro-rata basis assuming conversion of all convertible preferred shares into Ordinary Shares. These participating securities do not contractually require the holders of such shares to participate in the Company’s losses. During the periods when the Company is in a net loss position, the net loss attributable to common shareholders was not allocated to the convertible Preferred Shares under the two-class method as these securities do not have a contractual obligation to share in our losses. The diluted net earnings per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury share method or the if-converted method based on the nature of such securities. During the .
Segment Information	Segment Information The Company operates in one operating and reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the Company’s chief executive officer (“CEO”), in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. Revenue by geographical region can be found in the revenue recognition disclosures in Note 2 above. The following table presents the Company’s property and equipment, net of depreciation and amortization as well as the Company’s operating lease ROU assets by geographic region: December 31, 2019 2020 202 1 (in thousands) Israel $ 1,444 $ 1,685 $ 18,383 United Kingdom 212 3,093 2,642 United States 208 74 2,326 Rest of world 31 25 26 Total property and equipment, net $ 1,895 $ 4,877 $ 23,376
Legal Proceedings	Legal Proceedings In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes, or claims. The Company investigates these claims as they arise. Although claims are inherently unpredictable, the Company is currently not aware of any matters that, if determined adversely to the Company, would individually or taken together, have a material adverse effect on its business, financial position, results of operations, or cash flows.
Israeli Severance Pay	Israeli Severance Pay Pursuant to Israel’s Severance Pay Law, Israeli employees are entitled to severance pay equal to one month’s salary for each year of employment, or a portion thereof. The Company has elected to include its employees in Israel under Section 14 of the Severance Pay Law, under which these employees are entitled only to monthly deposits made in their name with insurance companies, at a rate of 8.33% of their monthly salary. These payments release the Company from any future obligation under the Israeli Severance Pay Law to make severance payments in respect of those employees; therefore, any liability for severance pay due to these employees, and the deposits under Section 14 are not recorded as an asset in the consolidated balance sheets. During the years ended December 31, 2020 and 2021, the Company recorded $838 and $1,428, respectively, in severance expenses related to these employees.
Warrants to preferred shares	Warrants to preferred shares Prior to the IPO, the Company issued warrants to purchase the Company's convertible preferred shares which were classified as a liability on the balance sheet and measured at fair value. The Company measured the warrants at fair value by applying the Option Pricing Method ("OPM") in each reporting period until they were converted. Changes in the fair value being recognized in the Company's statement of operations as financial income or expense, as appropriate. Year Ended December 31, 2019 2020 2021 (in thousands) Beginning of the year $ 210 $ 215 $ 5,738 Change in fair value 5 5,523 5,872 Conversion to shares - - (11,610 ) End of year $ 215 5,738 $ -
Funds receivable and payable to customers	Funds receivable and payable to customers Funds receivable represent cash received or settled from end-customers via third-party payment service providers, which flows through a Company bank account for payment to the Company’s customers. This cash and related receivables represent the total amount due to the Company’s customers and as such, a liability for the same amount is recorded to funds payable to customers.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment (Topic 350). This standard eliminates Step 2 from the goodwill impairment test, instead requiring an entity to recognize a goodwill impairment charge for the amount by which the goodwill carrying amount exceeds the reporting unit's fair value. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted. This guidance must be applied on a prospective basis. The new guidance was adopted by the Company on January 1, 2020 with no impact on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. The guidance will be effective for the Company beginning January 1, 2021, and interim periods in fiscal years beginning January 1, 2022. Early adoption is permitted. The new guidance was adopted by the Company on January 1, 2021 with no impact on its consolidated financial statements and related disclosures.
Recently issued accounting standards, not yet adopted by the Company	Recently issued accounting standards, not yet adopted by the Company In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance will be effective for the Company beginning January 1, 2023, and interim periods therein. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2016-13 will have on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing a variety of exceptions within the framework of ASC 740. These exceptions include the exception to the incremental approach for intraperiod tax allocation in the event of a loss from continuing operations and income or a gain from other items (such as other comprehensive income), and the exception to using general methodology for the interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance will be effective for the Company beginning January 1, 2022, and interim periods in fiscal years beginning January 1, 2023. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its consolidated financial statements and related disclosures. In October 2021, the FASB issued ASU No. 2021-08, "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers". The standard requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, “Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance.” The new standard improves the transparency of government assistance received by most business entities by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity's financial statements. This guidance is effective for financial statements issued for annual periods beginning after December 15, 2021. Early adoption is permitted. The Company does not expect the adoption of the standard will have a material impact on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of reconciliation of cash, cash equivalents, and restricted cash	December 31, 2019 2020 202 1 Cash and cash equivalents $ 5,034 $ 68,637 $ 448,623 Cash and cash equivalents included in funds receivable $ 15,138 $ 16,193 $ 10,063 Restricted cash included in other assets $ 197 $ 203 $ 213 Total cash, cash equivalents, and restricted cash $ 20,369 $ 85,033 $ 458,899
Schedule of accumulated other comprehensive income	Year ended December 31, 2020 2021 Unrealized gain on marketable securities Unrealized gain (loss) on marketable securities Beginning balance $ - $ 111 Net current period other comprehensive income (loss) 111 (410 ) reclassification adjustments for losses included in net income - 140 Total accumulated other comprehensive income (loss) $ 111 $ (159 )
Schedule of revenue by category	Year Ended December 31, 2019 2020 2021 Percentage Percentage Percentage Amount of Revenue Amount of Revenue Amount of Revenue (in thousands, except percentages) Service fees 23,498 36 % 49,927 37 % 96,659 39 % Fulfillment services 42,354 64 % 86,448 63 % 148,615 61 % Total revenue $ 65,852 100 % $ 136,375 100 % $ 245,274 100 % Year Ended December 31, 2019 2020 2021 Percentage Percentage Percentage Amount of Revenue Amount of Revenue Amount of Revenue (in thousands, except percentages) United Kingdom 51,799 79 % 80,122 59 % 113,835 47 % United States 9,529 14 % 34,140 25 % 71,095 29 % European Union 4,344 7 % 21,269 15 % 58,177 23 % Israel 180 * ) 844 1 % 1,052 * ) Other - - - - 1,115 * ) Total revenue $ 65,852 100 % $ 136,375 100 % $ 245,274 100 % *) Less than 1%
Schedule of deferred contract acquisition costs	Year Ended December 31, 2019 2020 202 1 (in thousands) Beginning balance $ 318 $ 563 $ 987 Additions to deferred contract acquisition costs 343 618 1,188 Amortization of deferred contract acquisition costs (98 ) (194 ) (374 ) Ending balance $ 563 $ 987 $ 1,801 Deferred contract acquisition costs (to be recognized in next 12 months included in other current assets) $ 143 $ 264 $ 487 Deferred contract acquisition costs, noncurrent 420 723 1,314 Total deferred contract acquisition costs $ 563 $ 987 $ 1,801
Schedule of property and equipment, net by geographical region	December 31, 2019 2020 202 1 (in thousands) Israel $ 1,444 $ 1,685 $ 18,383 United Kingdom 212 3,093 2,642 United States 208 74 2,326 Rest of world 31 25 26 Total property and equipment, net $ 1,895 $ 4,877 $ 23,376
Schedule of warrants to preferred shares	Year Ended December 31, 2019 2020 2021 (in thousands) Beginning of the year $ 210 $ 215 $ 5,738 Change in fair value 5 5,523 5,872 Conversion to shares - - (11,610 ) End of year $ 215 5,738 $ -

Prepaid expenses and other cu_2

Prepaid expenses and other current assets (Tables)	12 Months Ended
	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of prepaid expenses and other current assets	December 31, 2020 2021 (in thousands) Indirect tax receivables and related prepaid expenses $ 20,591 $ 39,030 Prepaid expenses 2,388 6,271 Other 68 1,267 Prepaid expenses and other current assets 23,047 46,568

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	December 31, 2020 202 1 (in thousands) Computer and software $ 998 $ 1,603 Furniture and office equipment 162 429 Leasehold improvements 263 2,271 Property and equipment, gross 1,423 4,303 Less: accumulated depreciation and amortization (706 ) (1,034 ) Property and equipment, net $ 717 $ 3,269

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Schedule of accrued expenses and other current liabilities	December 31, 2020 2021 (in thousands) Accrued Expenses $ 3,769 $ 11,668 Accrued indirect taxes and related liabilities 15,301 15,798 Accrued compensation and benefits 4,589 9,797 Advancements from customers 4,417 7,426 Other current liabilities 1,356 2,669 Accrued expenses and other current liabilities $ 29,432 47,358

Convertible Preferred shares,_2

Convertible Preferred shares, shareholders' Deficit and Equity incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Convertible Preferred Shares, Shareholders’ Deficit And Equity Incentive Plan [Abstract]
Schedule of share option activity of equity incentive plan	Options Outstanding Outstanding Share Options Weighted-Average Exercise Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic (in thousands, except share, life and per share data) Balance as of December 31, 2020 12,418,350 $ 2.04 7.83 $ 121,325.91 Granted - Exercised (1,994,371 ) $ 0.83 $ 124,762.70 Forfeited (291,825 ) $ 2.66 Balance as of December 31, 2021 10,132,154 $ 2.26 7.13 $ 619,339.90 Exercisable as of December 31, 2021 7,955,457 $ 2.15 6.80 $ 487,203.07
Schedule of black-Scholes assumptions used to value employee options	Year Ended December 31, 2019 2020 Expected term (years) 6.11 6.11 Expected volatility 70.0 % 70.0 % Risk-free interest rate 1.7% - 2.6 % 0.37% - 1.45 % Expected dividend yield 0.0 % 0.0 %
Schedule of restricted stock unit activity	Amount of RSU’s Weighted average grant date fair value Unvested as of December 31, 2020 - $ - Granted 467,589 63.75 Vested 24,571 68.46 Forfeited - Unvested as of December 31, 2021 443,018 $ 63.49
Schedule of share-based compensation expense	Year Ended December 31, 2019 2020 2021 (in thousands) Cost of revenue $ 2 $ 10 $ 85 Research and development 79 507 4,192 Sales and marketing 22 442 1,287 General and administrative 118 2,997 6,437 Total share-based compensation expense $ 221 $ 3,956 $ 12,001
Schedule of Series E convertible preferred shares	December 31, 2020 Designated Shares Authorized Shares Series A 19,298 19,298 Series A-1 20,364 20,364 Series B-1 37,361 37,361 Series B-2 17,792 17,792 Series C 15,822 15,822 Series D-1 27,758 27,758 Series E 23,706 23,706 Total convertible preferred shares 162,101 162,101
Schedule of ordinary shares reserved for future issuance	December 31, 2020 2021 Conversion of convertible preferred shares 97,260,600 - Outstanding share options 12,418,350 10,132,154 Unvested RSU’s - 443,018 Remaining shares available for future issuance under the 2021 Plan 3,470,250 2,749,064 Total shares of ordinary shares reserved 113,149,200 13,324,236

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of lease expense	Year ended Year ended Year ended December 31, 2019 December 31, 2020 December 31, 2021 Components of lease expenses Operating lease cost $ 655 $ 1,023 $ 1,406 Short-term lease $ 22 $ 66 $ 51 Total lease expenses $ 677 $ 1,089 $ 1,457
Schedule of supplemental cash flow information related to leases	Year ended Year ended Year ended December 31, 2019 December 31, 2020 December 31, 2021 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities $ 684 $ 1,017 $ 1,015 Supplemental non-cash information related to lease liabilities from obtaining ROU assets $ 1,209 $ 3,734 $ 17,329
Schedule of maturities of lease liabilities	December 31, (in thousands) Year Ending December 31, 2022 $ 2,549 2023 2,896 2024 2,632 2025 2,644 2026 2,656 Thereafter 11,049 Total operating lease payments $ 24,426 Less: imputed interest 3,105 Total $ 21,321

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of profit (loss) before the provision for income taxes	Year Ended December 31, 2019 2020 2021 (in thousands) Israel (4,932 ) 1,293 (83,028 ) Foreign (2,578 ) 2,781 8,800 Total (7,510 ) 4,074 (74,228 )
Schedule of provision for income taxes	Year Ended December 31, 2019 2020 2021 (in thousands) Current: Israel $ - $ 16 $ - Foreign 41 92 $ 795 Total current income tax expense 41 108 $ 795 Deferred: Israel - - - Foreign (7 ) 52 (90 ) Total deferred income tax (benefit) expense (7 ) 52 (90 ) Total provision for income taxes $ 34 $ 160 $ 705
Schedule of effective income tax rate reconciliation	Year Ended December 31, 2019 2020 2021 (in thousands) Theoretical income tax expense (benefit) $ (1,727 ) $ 937 $ (17,072 ) Change in valuation allowance 1,506 (2,235 ) 26,822 Return to provision true ups - - (2,490 ) Foreign tax rate differentials 56 (150 ) (76 ) Non-deductible Share-based compensation 26 910 1,513 Non-deductible expenses 122 1,290 1,517 Deductible expenses - - (9,661 ) Foreign exchange impact (41 ) (357 ) 273 State Taxes - - 63 Other 92 (235 ) (184 ) Total $ 34 $ 160 $ 705
Schedule of deferred tax assets and liabilities	December 31, 2020 2021 (in thousands) Deferred tax assets: Net operating loss carryforwards *) 6,052 30,129 Research and development expenses 2,889 4,327 Leasing liabilities 1,018 4,823 Accruals and reserves 296 351 Share-based compensation - 1,371 Gross deferred tax assets 10,255 41,001 Valuation allowance (9,255 ) (36,077 ) Total deferred tax assets 1,000 4,924 Deferred tax liabilities: Deferred contract acquisition costs 90 376 Leasing assets 957 4,548 Property and equipment 43 - Gross deferred tax liabilities 1,090 4,924 Net deferred taxes $ 90 - *) Refer to note 8g.
Schedule of unrecognized tax benefits	December 31, 2020 2021 (in thousands) Beginning balance - - Increases related to tax positions taken during the current year *) - 19,389 Ending balance - 19,389

Net Earnings (Loss) Per Share_2

Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	Year Ended December 31, 2019 2020 2021 (in thousands, except share and per share data) Basic net profit (loss) per share Numerator: Allocation of net profit (loss) (7,544 ) 3,914 (74,933 ) Net income allocated to preferred shareholders - 3,189 - Allocation of net profit (loss) attributable to Ordinary shareholders (7,544 ) 725 (74,933 ) Denominator: Weighted-average shares used in computing net profit (loss) per share attributable to Ordinary shareholders 19,654,276 21,120,208 101,737,026 Basic net profit (loss) per share attributable to Ordinary shareholders (0.38 ) 0.03 (0.74 ) Diluted net profit (loss) per share Numerator: Allocation of net profit (loss) attributable for diluted computation (7,544 ) 725 (74,933 ) Denominator: Shares used in computing net earnings per share of ordinary share, basic 19,654,276 21,120,208 101,737,026 Weighted average effect of dilutive securities - effect of stock-based awards - 7,517,593 - Weighted-average shares used in computing net profit (loss) per share attributable to Ordinary shareholders 19,654,276 28,637,801 101,737,026 Diluted net profit (loss) per share attributable to ordinary shareholders (0.38 ) 0.03 (0.74 )
Schedule of antidilutive securities excluded from computation of diluted net loss per share	Year Ended December 31, 2019 2020 2021 Convertible preferred shares 83,037,000 92,946,600 - Unvested RSU’s - - 443,018 Outstanding warrants to Ordinary Shares - - 7,902,480 Warrants to convertible shares - 312,600 - Outstanding share options 9,154,800 - 10,132,154 Total 92,191,800 93,259,200 18,477,652

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of financial instruments measured at fair value on a recurring basis	December 31, 2021 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Mutual Funds $ 1,274 $ - $ - $ 1,274 Government debentures - 1,908 - 1,908 Corporate debentures - 15,282 - 15,282 Total financials assets $ 1,275 $ 17,190 $ - $ 18,464 December 31, 2020 Fair value measurements using input type Level 1 Level 2 Level 3 Total Assets: Mutual Funds $ 1,200 $ - $ - $ 1,200 Government debentures - 1,359 - 1,359 Corporate debentures - 14,312 - 14,312 Total financials assets $ 1,200 $ 15,671 $ - $ 16,871 Liabilities Warrant to convertible preferred shares 5,738 5,738 Total financials liabilities $ - $ - $ 5,738 $ -

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Marketable Securities [Abstract]
Debt securities, available-for-sale [Table Text Block]	December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Gross Realized Losses Fair Value Mutual funds $ 1,252 22 - $ - $ 1,274 Government debentures $ 1,894 23 - $ (9 ) $ 1,908 Corporate debentures $ 15,617 $ 24 $ (228 ) $ (131 ) $ 15,282 18,763 $ 69 $ (228 ) $ (140 ) $ 18,464 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mutual funds $ 1,200 - - $ 1,200 Government debentures $ 1,360 6 $ (7 ) $ 1,359 Corporate debentures $ 14,200 $ 116 $ (4 ) $ 14,312 $ 16,760 $ 122 $ (11 ) $ 16,871

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 448,623	$ 68,637	$ 5,034
Cash and cash equivalents included in funds receivable	10,063	16,193	15,138
Restricted cash included in other assets, noncurrent	213	203	197
Total cash, cash equivalents, and restricted cash	$ 458,899	$ 85,033	$ 20,369	$ 13,646

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Beginning balance	$ 111	$ 0
Net current period other comprehensive income	(410)	111
reclassification adjustments for losses included in net income	140	0
Total accumulated other comprehensive income	$ (159)	$ 111

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2)	12 Months Ended
	Dec. 31, 2021
Computer and software
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture and office equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture and office equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives	Shorter of remaining lease term or estimated useful life

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Revenue	$ 245,274	$ 136,375	$ 65,852
Percentage of revenue	100.00%	100.00%	100.00%
Service fees
Concentration Risk [Line Items]
Revenue	$ 96,659	$ 49,927	$ 23,498
Percentage of revenue	39.00%	37.00%	36.00%
Fulfillment services
Concentration Risk [Line Items]
Revenue	$ 148,615	$ 86,448	$ 42,354
Percentage of revenue	61.00%	63.00%	64.00%

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Revenue	$ 245,274		$ 136,375	$ 65,852
Percentage of revenue	100.00%		100.00%	100.00%
UNITED KINGDOM
Concentration Risk [Line Items]
Revenue	$ 113,835		$ 80,122	$ 51,799
Percentage of revenue	47.00%		59.00%	79.00%
UNITED STATES
Concentration Risk [Line Items]
Revenue	$ 71,095		$ 34,140	$ 9,529
Percentage of revenue	29.00%		25.00%	14.00%
European Union
Concentration Risk [Line Items]
Revenue	$ 58,177		$ 21,269	$ 4,344
Percentage of revenue	23.00%		15.00%	7.00%
ISRAEL
Concentration Risk [Line Items]
Revenue	$ 1,052		$ 844	$ 180
Percentage of revenue		[1]	1.00%		[1]
Other
Concentration Risk [Line Items]
Revenue	$ 1,115		$ 0	$ 0
Percentage of revenue		[1]	0.00%	0.00%
[1]	Less than 1%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Beginning balance	$ 987	$ 563	$ 318
Additions to deferred contract acquisition costs	1,188	618	343
Amortization of deferred contract acquisition costs	(374)	(194)	(98)
Ending balance	1,801	987	563
Deferred contract acquisition costs (to be recognized in next 12 months included in other current assets)	487	264	143
Deferred contract acquisition costs, noncurrent	1,314	723	420
Total deferred contract acquisition costs	$ 1,801	$ 987	$ 563

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Details 6) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 3,269	$ 717
Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	23,376	4,877	$ 1,895
Israel | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	18,383	1,685	1,444
United Kingdom | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	2,642	3,093	212
United States | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	2,326	74	208
Rest of world | Reportable Geographical Components
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 26	$ 25	$ 31

Summary of Significant Accou_11

Summary of Significant Accounting Policies (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Beginning of the year	$ 5,738	$ 215	$ 210
Change in fair value	5,872	5,523	5
Conversion to shares	(11,610)	0
End of year	$ 0	$ 5,738	$ 215

Summary of Significant Accou_12

Summary of Significant Accounting Policies (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	May 14, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Conversion of convertible preferred shares		0	97,260,600
Other than temporary impairment recognized in earnings		$ 140
Severance expenses		$ 1,428	$ 838
Severance pay description		Pursuant to Israel’s Severance Pay Law, Israeli employees are entitled to severance pay equal to one month’s salary for each year of employment, or a portion thereof. The Company has elected to include its employees in Israel under Section 14 of the Severance Pay Law, under which these employees are entitled only to monthly deposits made in their name with insurance companies, at a rate of 8.33% of their monthly salary.
Initial public offering ("IPO")
Concentration Risk [Line Items]
Issuance of Ordinary shares in IPO, net (Shares)	17,250,000
Offering price	$ 25
Additional ordinary shares pursuant to underwriters option to purchase	2,500,000
Net proceeds of deducting underwriting discounts and commissions	$ 396,400
Proceeds from Issuance of Debt	30,200
Other issuance costs	$ 4,700
Converted to Ordinary Shares ratio		1:600
Number of warrants issued to purchase convertible preferred Shares		464,400
Series A | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		19,298
Series A-1 | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		20,364
Series B-1 | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		37,361
Series B-2 | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		17,792
Series C | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		15,822
Series D-1 | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		27,758
Series E | Initial public offering ("IPO")
Concentration Risk [Line Items]
Conversion of convertible preferred shares		23,706
Service fees
Concentration Risk [Line Items]
Revenue		$ 8,366	2,627	$ 1,002
Largest customer
Concentration Risk [Line Items]
Revenue		31,346	24,534	$ 16,219
Amount due to customer		$ 8,482	$ 8,264

Prepaid expenses and other cu_3

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets, Current [Abstract]
Indirect tax receivables and related prepaid expenses	$ 39,030	$ 20,591
Prepaid expenses	6,271	2,388
Other	1,267	68
Prepaid expenses and other current assets	$ 46,568	$ 23,047

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,303	$ 1,423
Less: accumulated depreciation and amortization	(1,034)	(706)
Property, Plant and Equipment, Net, Total	3,269	717
Computer and software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,603	998
Furniture and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	429	162
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,271	$ 263

Property and Equipment, Net (_2

Property and Equipment, Net (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 331	$ 235	$ 171
Wrote-off of depreciated assets	$ 3

Commercial Agreement Assets (De

Commercial Agreement Assets (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Asset recognized associated with the fair value of the warrants	$ 280,800
Amortization expense related to the commercial agreement asset	$ 84,298	$ 0	$ 0
Commercial agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Expected benefit period	four-year
Asset recognized associated with the fair value of the warrants	$ 280,800
Amortization expense related to the commercial agreement asset	$ 84,300

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses	$ 11,668	$ 3,769
Accrued indirect taxes and related liabilities	15,798	15,301
Accrued compensation and benefits	9,797	4,589
Advancements from customers	7,426	4,417
Other current liabilities	2,669	1,356
Accrued expenses and other current liabilities	$ 47,358	$ 29,432

Convertible Preferred shares,_3

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Shares Available for Grant
Balance as of December 31, 2020	3,470,250
Balance as of December 31, 2021	2,749,064	3,470,250
Outstanding Share Options
Balance as of December 31, 2020	12,418,350
Balance as of December 31, 2021	10,132,154	12,418,350
2021 Plan
Outstanding Share Options
Balance as of December 31, 2020	12,418,350
Granted	0
Exercised	(1,994,371)
Forfeited	(291,825)
Balance as of December 31, 2021	10,132,154	12,418,350
Exercisable as of December 31, 2021	7,955,457
Weighted Average Exercise Price
Balance as of December 31, 2020	$ 2.04
Exercised	0.83
Forfeited	2.66
Balance as of December 31, 2021	2.26	$ 2.04
Exercisable as of December 31, 2021	$ 2.15
Weighted-Average Remaining Contractual Life (Years)	7 years 1 month 17 days	7 years 9 months 29 days
Weighted- Average Remaining Contractual Life (Years) Exercisable	6 years 9 months 18 days
Aggregate Intrinsic Value
Balance as of December 31, 2020	$ 121,325,910
Exercised	124,762,700
Balance as of December 31, 2021	619,339,900	$ 121,325,910
Exercisable as of December 31, 2021	$ 487,203,070

Convertible Preferred shares,_4

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Details 1) - 2021 Plan	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Expected term (years)	6 years 1 month 9 days	6 years 1 month 9 days
Expected volatility	70.00%	70.00%
Expected dividend yield	0.00%	0.00%
Minimum
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Risk-free interest rate	0.37%	1.70%
Maximum
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Risk-free interest rate	1.45%	2.60%

Convertible Preferred shares,_5

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Details 2)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Unvested, beginning balance	0
Unvested, ending balance	443,018
RSU
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Unvested, beginning balance	0
Granted	467,589
Vested	24,571
Forfeited	0
Unvested, ending balance	443,018
Weighted average grant date fair value, beginning balance | $ / shares	$ 0
Weighted average grant date fair value Granted | $ / shares	63.75
Weighted average grant date fair value, Vested | $ / shares	68.46
Weighted average grant date fair value, ending balance | $ / shares	$ 63.49

Convertible Preferred shares,_6

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Details 3) - 2021 Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Total share-based compensation expense	$ 12,001	$ 3,956	$ 221
Cost of revenue
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Total share-based compensation expense	85	10	2
Research and development
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Total share-based compensation expense	4,192	507	79
Sales and marketing
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Total share-based compensation expense	1,287	442	22
General and administrative
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Total share-based compensation expense	$ 6,437	$ 2,997	$ 118

Convertible Preferred shares,_7

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Details 4) - shares	Dec. 31, 2021	Dec. 31, 2020
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		162,101
Convertible preferred shares, Issued	0	162,101
Convertible preferred shares, Outstanding	0	162,101
Series A
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		19,298
Convertible preferred shares, Issued		19,298
Convertible preferred shares, Outstanding		19,298
Series A-1
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		20,364
Convertible preferred shares, Issued		20,364
Convertible preferred shares, Outstanding		20,364
Series B-1
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		37,361
Convertible preferred shares, Issued		37,361
Convertible preferred shares, Outstanding		37,361
Series B-2
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		17,792
Convertible preferred shares, Issued		17,792
Convertible preferred shares, Outstanding		17,792
Series C
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		15,822
Convertible preferred shares, Issued		15,822
Convertible preferred shares, Outstanding		15,822
Series D-1
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		27,758
Convertible preferred shares, Issued		27,758
Convertible preferred shares, Outstanding		27,758
Series E
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Designated Shares Authorized		23,706
Convertible preferred shares, Issued		23,706
Convertible preferred shares, Outstanding		23,706

Convertible Preferred shares,_8

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Details 5) - shares	Dec. 31, 2021	Dec. 31, 2020
Convertible Preferred Shares, Shareholders’ Deficit And Equity Incentive Plan [Abstract]
Conversion of convertible preferred shares	0	97,260,600
Outstanding share options	10,132,154	12,418,350
Unvested RSU’s	443,018	0
Remaining shares available for future issuance under the 2021 Plan	2,749,064	3,470,250
Total shares of ordinary shares reserved	13,324,236	113,149,200

Convertible Preferred shares,_9

Convertible Preferred shares, shareholders' (Deficit) and Equity incentive Plan (Detail Textuals) $ / shares in Units, $ in Thousands	1 Months Ended					12 Months Ended
	Mar. 21, 2021₪ / shares	Nov. 30, 2020USD ($)	Apr. 30, 2020USD ($)	Feb. 28, 2019	Jan. 31, 2019	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Ordinary shares split ratio	600
Ordinary shares split ratio, description						(i) every one authorized, issued and outstanding ordinary share was increased to six hundred (600) of shares authorized, issued and outstanding Ordinary Shares, (ii) the number of Ordinary Shares into which each outstanding option to purchase an Ordinary Share is exercisable was proportionally increased on a 1-to 600 basis, (iii) all share prices and exercise prices were proportionally decreased. All of the share numbers, share prices, and exercise prices have been adjusted within these consolidated financial statements, on a retroactive basis, to reflect this 1-to 600 shares split, and (iv) the conversion ratio for the convertible preferred shares to Ordinary Shares was updated on a 1-to 600 basis.
Gross proceeds from convertible preferred shares						$ 0	$ 58,821	$ 0
Share-based compensation expense		$ 809	$ 1,346
Ordinary share, par value per share | ₪ / shares	₪ 0.01
Convertible preferred shares, par value per share | ₪ / shares	0.01
Ordinary share, No par value | (per share)	0					$ 0	$ 0
Temporary equity, No par value | (per share)	₪ 0					$ 0	0
Number of common shares called by warrants | shares						19,604,239
Exercise price of warrants | $ / shares						$ 0.01
Term of warrants						10 years
Fair value of warrants						$ 280,800
Number of warrants vested and exercised | shares						11,701,759
RSU
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Recognition period for unrecognized share-based compensation cost						2 years 6 months 18 days
Unrecognized share-based compensation cost related to unvested RSU’s						$ 23,402
2021 Plan
Convertible Preferred Shares Shareholders Deficit And Equity Incentive Plan [Line Items]
Share options, award vesting period				10 years	7 years	4 years
Expiration of Share options after date of grant						10 years
Number of maximum number ordinary shares issuance | shares						13,500,000
Percentage of outstanding ordinary shares						5.00%
Weighted-average grant date fair value of options granted | $ / shares							$ 3.05	$ 0.13
Unrecognized share-based compensation cost related to unvested share options						$ 8,787
Recognition period for unrecognized share-based compensation cost						2 years 3 months 18 days

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of lease expenses
Operating lease cost	$ 1,406	$ 1,023	$ 655
Short-term lease	51	66	22
Total lease expenses	$ 1,457	$ 1,089	$ 677

Leases (Details 1)

Leases (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$ 1,015	$ 1,017	$ 684
Supplemental non-cash information related to lease liabilities from obtaining ROU assets	$ 17,329	$ 3,734	$ 1,209

Leases (Details 2)

Leases (Details 2) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 2,549
2023	2,896
2024	2,632
2025	2,644
2026	2,656
Thereafter	11,049
Total operating lease payments	24,426
Less: imputed interest	3,105
Total	$ 21,321

Leases (Detail Textuals)

Leases (Detail Textuals)	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term	9 years 1 month 6 days
Weighted average discount rate	3.29%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Israel	$ (83,028)	$ 1,293	$ (4,932)
Foreign	8,800	2,781	(2,578)
Profit (loss) before the provision for income taxes	$ (74,228)	$ 4,074	$ (7,510)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Line Items]
Total current income tax expense	$ 795	$ 108	$ 41
Total deferred income tax (benefit) expense	(90)	52	(7)
Total provision for income taxes	705	160	34
Israel [Member]
Income Tax Disclosure [Line Items]
Total current income tax expense	0	16
Total deferred income tax (benefit) expense	0	0	0
Foreign [Member]
Income Tax Disclosure [Line Items]
Total current income tax expense	795	92	41
Total deferred income tax (benefit) expense	$ (90)	$ 52	$ (7)

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Theoretical income tax expense (benefit)	$ (17,072)	$ 937	$ (1,727)
Change in valuation allowance	26,822	(2,235)	1,506
Return to provision true ups	(2,490)	0	0
Foreign tax rate differentials	(76)	(150)	56
Non-deductible Share-based compensation	1,513	910	26
Non-deductible expenses	1,517	1,290	122
Deductible expenses	(9,661)	0	0
Foreign exchange impact	273	(357)	(41)
State Taxes	63	0	0
Other	(184)	(235)	92
Total	$ 705	$ 160	$ 34

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	[1]	$ 30,129	$ 6,052
Research and development expenses		4,327	2,889
Deferred Tax Assets Leasing Liabilities		4,823	1,018
Accruals and reserves		351	296
Share-based compensation		1,371	0
Gross deferred tax assets		41,001	10,255
Valuation allowance		(36,077)	(9,255)
Total deferred tax assets		4,924	1,000
Deferred tax liabilities:
Deferred contract acquisition costs		376	90
Leasing assets		4,548	957
Property and equipment		0	43
Gross deferred tax liabilities		4,924	1,090
Net deferred taxes		$ 0	$ 90
[1]	Refer to note 8g.

Income Taxes (Details 4)

Income Taxes (Details 4) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Unrecognized tax benefits
Beginning balance		$ 0	$ 0
Increases related to tax positions taken during the current year	[1]	19,389	0
Ending balance		$ 19,389	$ 0
[1]	As of December 31, 2021 unrecognized tax benefit in amount of $19.4 million was related to Net operating loss carryforwards for which the Company has recognized valuation allowance.

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Undistributed earnings of foreign subsidiaries	$ 5,030
Unrecognized deferred tax liability	$ 1,157
Israel corporate tax rate	23.00%
Change in valuation allowance	$ 26,822
Operating loss carryforwards	103,832
Unrecognized tax benefit	$ 19,389	$ 0	$ 0

Net Earnings (Loss) Per Share_3

Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Allocation of net profit (loss)	$ (74,933)	$ 3,914	$ (7,544)
Net income allocated to preferred shareholders	0	3,189	0
Allocation of net profit (loss) attributable to Ordinary shareholders	$ (74,933)	$ 725	$ (7,544)
Denominator:
Weighted-average shares used in computing net profit (loss) per share attributable to Ordinary shareholders	101,737,026	21,120,208	19,654,276
Basic net profit (loss) per share attributable to Ordinary shareholders	$ (0.74)	$ 0.03	$ (0.38)
Numerator:
Allocation of net profit (loss) attributable for diluted computation	$ (74,933)	$ 725	$ (7,544)
Denominator:
Shares used in computing net earnings per share of ordinary share, basic	101,737,026	21,120,208	19,654,276
Weighted average effect of dilutive securities - effect of stock-based awards	0	7,517,593	0
Weighted-average shares used in computing net profit (loss) per share attributable to Ordinary shareholders	101,737,026	28,637,801	19,654,276
Diluted net profit (loss) per share attributable to ordinary shareholders	$ (0.74)	$ 0.03	$ (0.38)

Net Earnings (Loss) Per Share_4

Net Earnings (Loss) Per Share Attributable to Ordinary Shareholders (Details 1) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	18,477,652	93,259,200	92,191,800
Convertible Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	92,946,600	83,037,000
Unvested RSU’s
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	443,018	0	0
Outstanding warrants to Ordinary Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,902,480	0	0
Warrants to convertible shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	312,600	0
Outstanding share options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10,132,154	0	9,154,800

Related Party Transactions (Det

Related Party Transactions (Detail Textuals) - DHL International GmbH - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Expenses included in cost of revenue	$ 90,315	$ 53,861	$ 26,106
Accounts payable and accrued expenses	$ 21,515	$ 17,178

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring basis - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	$ 18,464	$ 16,871
Total financials liabilities		0
Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	1,274	1,200
Government debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	1,908	1,359
Corporate debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	15,282	14,312
Warrant to convertible preferred shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials liabilities		5,738
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	1,275	1,200
Total financials liabilities		0
Level 1 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	1,274	1,200
Level 1 | Government debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	0	0
Level 1 | Corporate debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	17,190	15,671
Total financials liabilities		0
Level 2 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	0	0
Level 2 | Government debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	1,908	1,359
Level 2 | Corporate debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	15,282	14,312
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	0	0
Total financials liabilities		5,738
Level 3 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	0	0
Level 3 | Government debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	0	0
Level 3 | Corporate debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials assets	$ 0	0
Level 3 | Warrant to convertible preferred shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financials liabilities		$ 5,738

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Marketable Securities [Line Items]
Amortized Cost	$ 18,763	$ 16,760
Gross Unrealized Gains	69	122
Gross Unrealized Losses	(228)	(11)
Gross Realized Losses	(140)
Fair Value	18,464	16,871
Mutual funds
Marketable Securities [Line Items]
Amortized Cost	1,252	1,200
Gross Unrealized Gains	22	0
Gross Unrealized Losses	0	0
Gross Realized Losses	0
Fair Value	1,274	1,200
Government debentures
Marketable Securities [Line Items]
Amortized Cost	1,894	1,360
Gross Unrealized Gains	23	6
Gross Unrealized Losses	0	(7)
Gross Realized Losses	(9)
Fair Value	1,908	1,359
Corporate debentures
Marketable Securities [Line Items]
Amortized Cost	15,617	14,200
Gross Unrealized Gains	24	116
Gross Unrealized Losses	(228)	(4)
Gross Realized Losses	(131)
Fair Value	$ 15,282	$ 14,312

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) $ / shares in Units, $ in Millions	Jan. 03, 2022USD ($)shares	Jan. 03, 2022₪ / shares	Jan. 03, 2022USD ($)$ / sharesshares	Dec. 31, 2021$ / sharesshares
Subsequent Event [Line Items]
Number of common shares called by warrants | shares				19,604,239
Exercise price of warrants | $ / shares				$ 0.01
Subsequent event | Shopify
Subsequent Event [Line Items]
Amount of asset expected to be recognized related to warrants | $			$ 71
Number of warrants for which assets expected to be recognized | shares	1,289,064
Number of warrants for which future expense to be recognized | shares	738,081
Unrecognized future expenses for warrants | $	$ 41
Recognition period for future expense of warrants	4 years
Subsequent event | Shopify | Vested on the date of the agreement
Subsequent Event [Line Items]
Number of common shares called by warrants | shares			1,289,064
Exercise price of warrants | $ / shares			$ 0.01
Subsequent event | Shopify | Vest upon certain performance milestones
Subsequent Event [Line Items]
Number of common shares called by warrants | shares			738,081
Exercise price of warrants | ₪ / shares		₪ 0.01
Subsequent event | Flow Commerce Inc
Subsequent Event [Line Items]
Maximum consideration transferred | $	$ 500
Base consideration | $			$ 425
Maximum potential additional consideration | $			$ 75