GCT

MKT CAP:$2B

GigaCloud Technology Inc.

Market Cap

$2B

Technology·Software - Infrastructure·🇨🇳 China·NASDAQ

Technology·Software Infra·🇨🇳·NASDAQ

Stock Price

$51.80+$13.04 (+33.64%)

Apr 17, 2026

Company Details

GigaCloud Technology Inc. provides end-to-end B2B ecommerce solutions for large parcel merchandise. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border trans...

CEO

Lei Wu

IPO Date

Aug 18, 2022

Website

www.gigacloudtech.com

Key Metrics TTM

Revenue

$1.3B

+11.1% YoY

Net Income

$137M

EPS (Diluted)

$3.59

Free Cash Flow

$183M

Revenue / Share

$33.74

Gross Margin

23.3%

Operating Margin

11.2%

Net Margin

10.6%

FCF Margin

14.2%

P/S

1.4x

P/E

13.2x

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Feb 26, 2026

$1.3B+11.1%EPS $3.59

Q4 2025

Feb 26, 2026

$363M+22.6%EPS $1.01

Q3 2025

Nov 6, 2025

$333M+9.7%EPS $0.99

Q2 2025

Aug 7, 2025

$323M+3.8%EPS $0.91

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$112M	$17M	$7M
Q2 22	$124M	$17M	$8M
Q3 22	$128M	$23M	$4M
Q4 22	$126M	$27M	$15M
Q1 23	$128M	$30M	$18M
Q2 23	$153M	$40M	$23M
Q3 23	$178M	$49M	$32M
Q4 23	$245M	$70M	$37M
Q1 24	$251M	$67M	$35M
Q2 24	$311M	$76M	$28M
Q3 24	$303M	$77M	$41M
Q4 24	$296M	$65M	$28M
Q1 25	$272M	$64M	$28M
Q2 25	$323M	$77M	$36M
Q3 25	$333M	$77M	$41M
Q4 25	$363M	$83M	$40M

Valuation

Quarter	P/S	P/E
Q1 22	2.7x	44.2x
Q2 22	2.6x	62.1x
Q3 22	0.7x	16.1x
Q4 22	0.5x	10.4x
Q1 23	0.5x	7.5x
Q2 23	0.5x	6.2x
Q3 23	0.6x	5.2x
Q4 23	1.3x	9.6x
Q1 24	1.5x	12.0x
Q2 24	1.3x	11.5x
Q3 24	0.9x	7.3x
Q4 24	0.6x	5.6x
Q1 25	0.5x	4.6x
Q2 25	0.7x	5.9x
Q3 25	0.9x	8.6x
Q4 25	1.2x	10.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$15M	-$15M
Q2 22	$4M	$4M
Q3 22	$34M	$33M
Q4 22	$26M	$26M
Q1 23	$20M	$20M
Q2 23	$18M	$18M
Q3 23	$44M	$43M
Q4 23	$51M	$47M
Q1 24	$15M	$11M
Q2 24	$19M	$13M
Q3 24	$55M	$51M
Q4 24	$68M	$67M
Q1 25	$9M	$7M
Q2 25	$39M	$37M
Q3 25	$78M	$77M
Q4 25	$64M	$62M

Capital Expenditures

Quarter	CapEx
Q1 22	$80.0K
Q2 22	$65.0K
Q3 22	$471.0K
Q4 22	$93.0K
Q1 23	$137.0K
Q2 23	$21.0K
Q3 23	$665.0K
Q4 23	$4M
Q1 24	$4M
Q2 24	$6M
Q3 24	$4M
Q4 24	$1M
Q1 25	$2M
Q2 25	$2M
Q3 25	$1M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+19.0%	+25.0%
Q2 22	+11.0%	+21.7%
Q3 22	+23.4%	+20.3%
Q4 22	+20.5%	+19.0%
Q1 23	+13.7%	+4.7%
Q2 23	+23.5%	+12.0%
Q3 23	+39.2%	+18.4%
Q4 23	+94.8%	+87.8%
Q1 24	+96.5%	+96.7%
Q2 24	+103.0%	+118.3%
Q3 24	+70.2%	+79.3%
Q4 24	+20.9%	+29.2%
Q1 25	+8.3%	+12.6%
Q2 25	+3.8%	+1.2%
Q3 25	+9.7%	+11.2%
Q4 25	+22.6%	+20.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$199.0K	0.2%
Q2 22	$0	0.0%
Q3 22	$9M	6.9%
Q4 22	$110.0K	0.1%
Q1 23	$247.0K	0.2%
Q2 23	$2M	1.0%
Q3 23	$317.0K	0.2%
Q4 23	$429.0K	0.2%
Q1 24	$275.0K	0.1%
Q2 24	$14M	4.5%
Q3 24	$1M	0.5%
Q4 24	$1M	0.4%
Q1 25	$1M	0.5%
Q2 25	$3M	0.9%
Q3 25	$349.0K	0.1%
Q4 25	$349.0K	0.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	—	$4M	$6M
Q2 22	—	$3M	$5M
Q3 22	—	$12M	$7M
Q4 22	—	$16M	—
Q1 23	$672.0K	$4M	$7M
Q2 23	$532.0K	$7M	$10M
Q3 23	$377.0K	$11M	$6M
Q4 23	$2M	$32M	—
Q1 24	$2M	$17M	$9M
Q2 24	$3M	$26M	$19M
Q3 24	$3M	$15M	$19M
Q4 24	$2M	$24M	$11M
Q1 25	$2M	$14M	$19M
Q2 25	$3M	$25M	$13M
Q3 25	$3M	$7M	$25M
Q4 25	$3M	$308.0K	$41M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	19.0%	6.1%	25.0
Q2 22	11.0%	6.3%	17.3
Q3 22	23.4%	2.5%	25.9
Q4 22	20.5%	12.2%	32.7
Q1 23	13.7%	14.3%	27.9
Q2 23	23.5%	15.5%	39.0
Q3 23	39.2%	17.1%	56.3
Q4 23	94.8%	18.3%	113.1
Q1 24	96.5%	14.8%	111.2
Q2 24	103.0%	10.0%	113.0
Q3 24	70.2%	16.5%	86.7
Q4 24	20.9%	11.1%	31.9
Q1 25	8.3%	12.7%	21.0
Q2 25	3.8%	13.4%	17.1
Q3 25	9.7%	13.9%	23.6
Q4 25	22.6%	12.7%	35.3

Rule of 40

Revenue Segments

Quarter	Packaging service	Product	Service	Service, Other	Packaging Service
Q2 24	$8M	$225M	$85M	$7M	—
Q1 25	$7M	$178M	$94M	$5M	—
Q2 25	—	$226M	$97M	$5M	$8M
Q3 25	—	$224M	$108M	$6M	$9M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$50M	$0	$50M
Q2 22	$49M	$0	$49M
Q3 22	$116M	$0	$116M
Q4 22	$144M	$0	$144M
Q1 23	$163M	$0	$163M
Q2 23	$182M	$0	$182M
Q3 23	$214M	$0	$214M
Q4 23	$183M	$0	$183M
Q1 24	$185M	$10M	$195M
Q2 24	$186M	$22M	$208M
Q3 24	$218M	$42M	$260M
Q4 24	$260M	$43M	$302M
Q1 25	$252M	$35M	$287M
Q2 25	$240M	$63M	$303M
Q3 25	$335M	$31M	$366M
Q4 25	$380M	$36M	$416M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	40M	+1.2%	0.0%
Q2 22	40M	-1.2%	-1.2%
Q3 22	40M	+0.6%	-0.6%
Q4 22	41M	+1.7%	+2.4%
Q1 23	41M	+0.1%	+1.2%
Q2 23	41M	+0.6%	+3.0%
Q3 23	41M	-0.2%	+2.2%
Q4 23	41M	+0.1%	+0.5%
Q1 24	41M	+0.1%	+0.6%
Q2 24	41M	+1.1%	+1.1%
Q3 24	41M	-0.0%	+1.3%
Q4 24	41M	-1.1%	+0.1%
Q1 25	40M	-2.0%	-2.0%
Q2 25	38M	-5.1%	-8.0%
Q3 25	38M	-1.3%	-9.2%
Q4 25	38M	+1.7%	-6.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$164.4K	764
Q1 23	$167.3K	764
Q2 23	$200.4K	764
Q3 23	$233.2K	764
Q4 23	$179.7K	1K
Q1 24	$184.3K	1K
Q2 24	$228.2K	1K
Q3 24	$222.7K	1K
Q4 24	$189.5K	2K
Q1 25	$174.2K	2K
Q2 25	$206.7K	2K
Q3 25	$213.1K	2K
Q4 25	$232.4K	2K

Revenue / Employee