Global-e and Fiverr Lead 2025 Earnings Surge as Digital Trade Accelerates

The mid-February earnings cycle for 2025 has provided a definitive look at the diverging paths of the digital and industrial economies. On February 18, 2026, a trio of major players—Global-e Online Ltd., Fiverr International Ltd., and Ternium S.A.—released their full-year and fourth-quarter results, painting a picture of a global market that is increasingly reliant on cross-border digital infrastructure while navigating a complex industrial landscape.

Global-e, the leader in cross-border e-commerce enablement, reported what it termed 'record' results for both the fourth quarter and the full year of 2025. This performance is a testament to the structural shift in retail, where direct-to-consumer (DTC) brands are no longer content with domestic markets. Global-e’s platform, which simplifies international payments, logistics, and tax compliance, has become the essential plumbing for global retail. The record-breaking nature of these results suggests that the company has successfully capitalized on its deep integration with platforms like Shopify and its expanding portfolio of luxury brand partners. Analysts note that Global-e’s ability to maintain high growth rates in a high-interest-rate environment demonstrates the non-discretionary nature of its services for brands seeking global scale.

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In the freelance services sector, Fiverr International reported a solid 2025, with annual revenue climbing 10.1% year-over-year to reach $430.9 million.

In the freelance services sector, Fiverr International reported a solid 2025, with annual revenue climbing 10.1% year-over-year to reach $430.9 million. This growth reflects a period of 'disciplined execution' following the volatile fluctuations of the post-pandemic era. Fiverr’s strategy has pivoted from pure volume to quality, focusing on 'Fiverr Pro' and high-value buyers who require complex, long-term project support. The company’s emphasis on Adjusted EBITDA margin expansion indicates a maturation of the gig economy business model, moving away from growth-at-all-costs toward sustainable profitability. The 10.1% growth rate is particularly significant as it suggests the freelance market has found a stable floor, even as artificial intelligence begins to reshape how digital services are delivered and consumed.

Contrasting these digital-first success stories is Ternium S.A., a titan of the Latin American steel industry. Ternium’s results provide the industrial counterpoint, reflecting the health of the construction, automotive, and appliance sectors in key markets like Mexico and Argentina. While the digital players are riding the wave of borderless commerce, Ternium is navigating the physical realities of 'nearshoring' and regional trade policies. The company’s performance in 2025 was heavily influenced by the ongoing industrial boom in Northern Mexico, where manufacturing capacity continues to expand to serve the North American market. However, Ternium faces different headwinds than its tech counterparts, including volatile raw material costs and regional political shifts that impact infrastructure spending.

Looking ahead to 2026, the trajectory for these companies will be defined by their ability to integrate emerging technologies and navigate geopolitical shifts. For Global-e and Fiverr, the primary focus will be the continued deployment of AI to automate complex cross-border transactions and service matching, respectively. For Ternium, the focus remains on capacity expansion and decarbonization of the steel-making process. Investors should watch for Global-e's guidance on international trade tariffs and Fiverr's ability to maintain its buyer retention rates in an increasingly automated service economy. Collectively, these results suggest that while the 'easy growth' of the early 2020s is over, the leaders in each sector have successfully transitioned to a more disciplined, data-driven phase of expansion.