GigaCloud Technology Inc

Listed Company

GCTCIK 0001857816NasdaqAcceleratedRetail-Catalog & Mail-Order HousesE9FY ends Dec 31

Period

FY 2025

Revenue

$1.29B

Net Income

$137.37M

Total Assets

$1.20B

Equity

$485.80M

Shares Out

9.33M

Op. Cash Flow

$190.66M

Business

GigaCloud Technology Inc operates a global end-to-end B2B ecommerce platform for large parcel merchandise, connecting manufacturers and resellers and managing cross-border transactions. It offers marketplace services including product discovery, payments, platform commission, ocean transportation, warehousing, last-mile delivery, packaging, drayage, 1P product sales and off-platform ecommerce distribution. The company organizes its business around a single operating segment encompassing GigaCloud 3P (service revenues), GigaCloud 1P (product revenues) and off-platform ecommerce activities. Its marketplace and fulfillment network serve manufacturers and resellers across the U.S., Asia and Europe through proprietary platform, fulfillment centers and third-party ecommerce channels.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,290	1,161	704	—	—
Total cost of revenues	989	876	515	407	325
Gross profit	301	285	189	83	90
Selling and marketing expenses	98	71	41	24	26
General and administrative expenses	47	74	30	23	25
Research and development expenses	11	10	4	1	0
Losses on disposal of property and equipment	96,000	193,000	3	0	0
Total operating expenses	156	155	79	48	50
Operating income	145	131	110	35	39
Interest expense	−200,000	−256,000	−1	−568,000	—
Interest income	12	9	3	472,000	—
Foreign currency exchange gains (losses), net	175,000	−1	2	−5	−2
Others, net	5	2	767,000	6,000	156,000
Income before income taxes	161	141	115	31	38
Income tax expense	−24	−15	−21	−7	−8
Net income	137	126	94	24	29
Foreign currency translation adjustment, net of nil income taxes	2	−1	−278,000	969,000	—
Net unrealized gain (loss) on available-for-sale investments	−4,000	7,000	0	0	—
Intra-entity foreign currency transactions gain (loss)	4	−3	0	0	—
Release of foreign currency translation reserve related to liquidation of subsidiaries	−1,000	−838,000	0	0	—
Total other comprehensive income (loss)	6	−5	−278,000	969,000	123,000
Comprehensive Income	143	121	94	25	29
Net income per ordinary share, basic (in USD per share)	3.6	3.06	2.31	0.6	0.88
Net income per ordinary share, diluted (in USD per share)	3.59	3.05	2.3	0.6	0.88
Weighted average number of ordinary shares outstanding used in computing net income per ordinary share, basic (in shares)	38	41	41	24	10
Weighted average number of ordinary shares outstanding used in computing net income per ordinary share, diluted (in shares)	38	41	41	24	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	380	260	183	144	—
Restricted cash	760,000	685,000	885,000	—	—
Accounts receivable, net	66	57	59	27	—
Investments	36	43	0	—	—
Inventories	188	172	132	78	—
Prepayments and other current assets	20	15	18	8	—
Total current assets	691	548	393	258	—
Operating lease right-of-use assets	431	452	399	144	—
Property and equipment, net	32	29	25	—	—
Intangible assets, net	5	6	8	0	—
Goodwill	13	13	13	0	—
Deferred tax assets	13	10	1	75,000	—
Other non-current assets	18	13	8	3	—
Total non-current assets	512	523	454	160	—
Total assets	1,202	1,070	847	419	—
Accounts payable	105	78	70	32	—
Contract liabilities	7	5	6	2	4
Current operating lease liabilities	100	89	58	28	—
Income tax payable	18	14	15	4	—
Accrued expenses and other current liabilities	113	80	57	37	—
Total current liabilities	342	264	206	103	—
Operating lease liabilities, non-current	368	395	344	117	—
Deferred tax liabilities	797,000	941,000	4	472,000	—
Finance lease obligations, non-current	690,000	382,000	111,000	867,000	—
Non-current income tax payable	5	4	3	3	—
Total non-current liabilities	374	401	351	121	—
Total liabilities	717	665	556	223	—
Commitments and contingencies	—	—	—	—	—
Treasury shares, at cost (237,269 and 609,390 shares held as of December 31, 2025 and 2024, respectively)	−7	−12	−2	−231,000	—
Additional paid-in capital	89	120	112	109	—
Accumulated other comprehensive income (loss)	2	−4	526,000	804,000	—
Retained earnings	401	299	178	84	—
Total shareholders equity	486	405	290	195	—
Total liabilities and shareholders equity	1,202	1,070	847	419	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	8	9	3	1	775,000
Share-based compensation	5	17	3	9	10
Operating lease	5	29	2	2	0
Changes in accounts receivables	−6	−234,000	−5	−9	6
Changes in inventories	−12	−47	−17	3	−47
Changes in prepayments and other assets	−5	−2	−9	−1	−2
Changes in accounts payable, accrued expenses and other current liabilities	53	38	46	21	—
Changes in contract liabilities	2	−992,000	1	−2	266,000
Changes in income tax payable	4	−1	11	−2	1
Changes in deferred income taxes	−3	−11	398,000	183,000	—
Other operating activities	2	2	3	3	—
Net cash provided by operating activities	191	158	133	50	9
Purchases of property and equipment	−8	−16	−4	−709,000	−2
Disposals of property and equipment	191,000	2	462,000	0	0
Advances paid for the acquisition	−1	0	0	—	—
Acquisitions, net of cash acquired	0	0	−87	0	0
Purchases of investments	−95	−74	0	0	—
Sale and maturities of investments	98	32	0	0	—
Net cash used in investing activities	−5	−55	−91	−709,000	−2
Repayment of finance lease obligations	−377,000	−2	−2	−4	−3
Repayment of finance lease obligations	0	0	−197,000	−312,000	−430,000
Repurchases of ordinary shares	−67	−23	−2	0	0
Net cash used in financing activities	−68	−25	−4	32	−3
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash	2	−1	190,000	380,000	−2
Net increase in cash, cash equivalents and restricted cash	120	76	39	81	2
Cash paid for interest expense	200,000	256,000	1	—	—
Cash paid for income taxes	23	26	10	9	7
Purchase of property and equipment under finance leases	1	767,000	0	3	4
Reversal of subscription receivable from ordinary shares	0	0	312,000	0	0
Fair value of assets acquired by acquisition	0	0	273	0	0
Cash paid for business combinations and asset purchases	0	0	88	0	0
Liabilities assumed by acquisition	0	0	−186	0	0

Filings

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