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GCT

GigaCloud Technology Inc.

GCT

GigaCloud Technology Inc. • NASDAQ
$37.10 ▼ -0.59% (-0.22)
Market Cap $1.37 B
52w High $37.98
52w Low $11.17
Dividend Yield 0%
P/E 11.21
Volume 267.38K
Outstanding Shares 37.06M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $332.638M ▲ $36.529M ▼ $37.175M ▲ 11.176% ▲ $0.99 ▲ $46.218M ▲
Q2-2025 $322.606M ▲ $41.101M ▲ $34.552M ▲ 10.71% ▲ $0.91 ▲ $43.126M ▲
Q1-2025 $271.906M ▼ $35.403M ▼ $27.146M ▼ 9.984% ▼ $0.68 ▼ $34.577M ▲
Q4-2024 $295.782M ▼ $37.356M ▲ $30.959M ▼ 10.467% ▼ $0.76 ▼ $32.686M ▼
Q3-2024 $303.316M $36.528M $40.685M 13.413% $0.98 $50.069M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $365.862M ▲ $1.124B ▲ $666.796M ▲ $457.315M ▲
Q2-2025 $302.969M ▲ $1.083B ▼ $651.331M ▼ $431.444M ▲
Q1-2025 $286.812M ▼ $1.091B ▲ $678.14M ▲ $412.897M ▲
Q4-2024 $302.433M ▲ $1.07B ▼ $665.258M ▼ $405.217M ▲
Q3-2024 $259.751M $1.073B $672.956M $400.387M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $37.175M ▲ $78.25M ▲ $27.74M ▲ $-11.45M ▲ $94.744M ▲ $77.06M ▲
Q2-2025 $34.552M ▲ $38.609M ▲ $-28.803M ▼ $-23.439M ▼ $-11.598M ▼ $37.032M ▲
Q1-2025 $27.146M ▼ $9.433M ▼ $4.625M ▲ $-22.768M ▲ $-8.036M ▼ $7.038M ▼
Q4-2024 $30.959M ▼ $68.418M ▲ $-1.377M ▲ $-23.38M ▼ $42.117M ▲ $66.92M ▲
Q3-2024 $40.685M $55.243M $-23.639M $-440K $31.799M $51.401M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Packaging Service
Packaging Service
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Product
Product
 $420.00M ▲$180.00M ▼$230.00M ▲$220.00M ▼
Service
Service
 $180.00M ▲$90.00M ▼$100.00M ▲$110.00M ▲
Service Other
Service Other
 $0 ▲$10.00M ▲$0 ▼$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past several years, and profits have scaled along with it instead of being squeezed. Margins look healthy for a logistics‑heavy platform business, with both operating profit and net income rising steadily as the company grows. That suggests GigaCloud has been able to turn volume growth into real earnings rather than just chasing scale for its own sake. The pattern also hints at good cost control and operating leverage as more buyers and sellers use the platform. The main watchpoint is how sustainable this growth rate is in a cyclical category like furniture and large home goods, especially if macro conditions soften.

Balance Sheet

Balance Sheet The balance sheet has expanded quickly, with total assets and shareholders’ equity both climbing year after year. Cash levels have increased, which provides some financial flexibility and a buffer against shocks. At the same time, debt has risen meaningfully from almost nothing to a sizable portion of the capital structure. So the company has shifted from a very conservative balance sheet to one that makes more active use of borrowing. The key questions going forward are whether the return on those borrowed funds stays comfortably above their cost, and whether the company keeps leverage at a level that can handle a downturn in demand or any integration hiccups from acquisitions.

Cash Flow

Cash Flow Cash generation tracks the income statement well: operating cash flow is positive and growing, and free cash flow is also positive because investment spending is relatively light. This is typical of an asset‑light, platform‑driven model where technology and existing warehouse capacity do most of the work. The low capital spending needs help convert a good portion of accounting profits into actual cash, which can support acquisitions, debt service, or added resilience. The flip side is that with modest capital investment, future capacity and growth rely more on process optimization, partnerships, and targeted deals rather than heavy physical build‑out.

Competitive Edge

Competitive Edge GigaCloud has carved out a distinct niche as an end‑to‑end B2B marketplace for large and bulky goods, an area where logistics are complex and many generalist platforms are less efficient. Its combination of a global digital marketplace with integrated cross‑border logistics, warehousing, and last‑mile delivery is difficult to replicate quickly. The network effect is important: more quality sellers attract more buyers, which in turn attract more sellers, deepening the moat over time. The “supplier fulfilled retailing” model, where GigaCloud manages logistics at a fixed price, simplifies life for both manufacturers and resellers and can be a strong differentiator. Key competitive risks include dependence on a few product categories (like furniture), execution risk in integrating acquisitions, and the possibility that very large e‑commerce or logistics players decide to target this same niche more aggressively.

Innovation and R&D

Innovation and R&D Innovation is embedded more in the business model and platform design than in traditional lab‑style R&D. The company uses cloud‑based infrastructure, automation via APIs and EDI, and proprietary scoring (the “Giga Index”) to manage trust and efficiency on the marketplace. Its logistics optimization and data‑driven approach aim to reduce cost and delivery times for oversized items, which is a real pain point for merchants. Recent moves, like acquiring Noble House to deepen the product and warehouse network and rolling out the “Wonder” app to support in‑store retail sales, show a willingness to extend the platform into adjacent areas. Over time, advances in AI‑driven logistics, better demand forecasting, and deeper integration with retailer systems will likely be important for preserving its edge, but these areas also carry execution and technology adoption risks.

Summary

Overall, GigaCloud shows a profile of rapid growth with solid profitability, supported by an asset‑light but operationally intensive platform focused on a difficult niche: large and bulky B2B goods. The business has scaled without eroding margins, and cash flow quality appears sound. The balance sheet has become more leveraged as the company invests and acquires, which boosts growth potential but also raises sensitivity to any setbacks. Competitively, its integrated marketplace‑plus‑logistics model, network effects, and specialization in complex shipments give it clear differentiation, while ongoing innovation in software, data, and retail tools aims to deepen that moat. The main things to track going forward are the sustainability of growth in its core categories, successful integration of acquisitions, prudent management of rising debt, and continued evidence that technology improvements are translating into operational advantages rather than just higher complexity.

NEWS

November 24, 2025 · 8:00 AM UTC

GigaCloud Technology Inc to Participate in UBS Global Technology and AI Conference

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November 17, 2025 · 5:05 PM UTC

GigaCloud Technology Inc Again Recognized in the Top 20 on Forbes' List of America's Most Successful Small-Cap Companies

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November 12, 2025 · 8:00 AM UTC

GigaCloud Technology Inc. to Participate in 14th Annual Roth Technology Conference on November 19

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November 6, 2025 · 4:01 PM UTC

GigaCloud Technology Inc Announces Third Quarter and Nine Months Ended September 30, 2025 Financial Results

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November 3, 2025 · 8:00 AM UTC

GigaCloud Technology Inc Recognized in TIME's ‘America's Growth Leaders 2026' List

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