GigaCloud Technology Inc GCT
We are a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise. Our B2B ecommerce platform, which we refer to as the "GigaCloud Marketplace," integrates everything from product discovery to payments to logistics tools into one easy-to-use platform. Our global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Europe and Japan, to execute cross-border transactions with confidence, speed and efficiency. We offer a truly comprehensive solution that transports products from manufacturers' warehouses to end customers, all at one fixed price. We first launched our marketplace in January 2019 by focusing on the global furniture market and have since expanded into additional categories such as home appliances and fitness equipment. GigaCloud Marketplace is one of the fastest growing large parcel B2B marketplaces with over $1,576.8 million, $1,341.4 million and $794.4 million of GMV transacted in our marketplace in 2025, 2024 and 2023, respectively.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.29B | $1.16B | $703.8M | $490.1M | $414.2M | $275.5M | — |
| Gross profit | $300.7M | $285.2M | $188.6M | $83.1M | $89.6M | $75.1M | — |
| R&D | $10.8M | $9.8M | $3.9M | $1.4M | $0 | $0 | — |
| SG&A | $46.6M | $73.9M | $30.0M | $22.6M | $24.5M | $8.7M | — |
| Total operating expenses | $155.7M | $154.6M | $78.6M | $48.1M | $50.2M | $30.9M | — |
| Operating income | $145.0M | $130.6M | $110.1M | $35.0M | $39.4M | $44.2M | — |
| Interest expense | $200.0K | $256.0K | $1.2M | $568.0K | $309.0K | $46.0K | — |
| Pre-tax income | $161.2M | $140.6M | $115.0M | $31.2M | $37.7M | $45.3M | — |
| Income tax | $23.8M | $14.8M | $20.9M | $7.2M | $8.5M | $7.8M | — |
| Net income | $137.4M | $125.8M | $94.1M | $24.0M | $29.3M | $37.5M | — |
| EPS, basic | 3.60 | 3.06 | 2.31 | 0.60 | 0.88 | 1.36 | — |
| EPS, diluted | 3.59 | 3.05 | 2.30 | 0.60 | 0.88 | 1.36 | — |
| Shares, diluted (wtd. avg.) | $38.2M | $41.2M | $40.9M | $24.4M | $10.2M | $9.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $379.8M | $259.8M | $184.2M | $145.1M | $63.9M | $62.2M | $5.6M |
| Short-term investments | $36.3M | $42.7M | $0 | — | — | — | — |
| Receivables | $66.0M | $57.3M | $58.9M | $27.1M | $18.0M | — | — |
| Inventory | $188.3M | $172.5M | $132.2M | $78.3M | $81.4M | — | — |
| Total current assets | $690.7M | $547.6M | $392.8M | $258.1M | $172.4M | — | — |
| Property, plant and equipment | — | — | $24.6M | $13.1M | $11.1M | — | — |
| Goodwill | $12.6M | $12.6M | $12.6M | $0 | — | — | — |
| Other intangibles | $5.0M | $6.2M | $8.4M | $0 | $0 | — | — |
| Total assets | $1.20B | $1.07B | $846.9M | $418.6M | $186.8M | — | — |
| Accounts payable | $105.4M | $78.2M | $69.8M | $31.6M | $25.1M | — | — |
| Short-term debt | — | — | $0 | $207.0K | $345.0K | — | — |
| Total current liabilities | $342.2M | $264.4M | $205.8M | $102.6M | $57.0M | — | — |
| Long-term debt | — | — | $0 | $0 | $237.0K | — | — |
| Total liabilities | $716.7M | $665.3M | $556.5M | $223.4M | $60.9M | — | — |
| Retained earnings | $400.9M | $298.9M | $177.7M | $83.6M | $60.6M | — | — |
| Total equity | $485.8M | $405.2M | $290.4M | $195.2M | $99.2M | $61.6M | $27.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $190.7M | $158.1M | $133.5M | $49.7M | $8.6M | $33.3M | — |
| Depreciation and amortisation | $8.3M | $8.5M | $2.9M | $1.4M | $775.0K | $227.0K | — |
| Stock-based compensation | $5.0M | $16.8M | $2.5M | $9.2M | $9.7M | $0 | — |
| Capital expenditure | $7.9M | $15.5M | $4.4M | $709.0K | $1.8M | $654.0K | — |
| Investing cash flow | -$5.1M | -$55.4M | -$90.5M | -$709.0K | -$1.8M | -$647.0K | — |
| Financing cash flow | -$67.8M | -$25.0M | -$4.0M | $31.9M | -$3.0M | $23.3M | — |
| Buybacks | $67.4M | $23.2M | $1.6M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001857816-26-000047.
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