Business
GigaCloud Technology Inc Announces First Quarter Ended March 31, 2025 Financial Results
Continued B2B Marketplace Expansion and Proven Strength of the SFR Model EL MONTE, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq:
About this update from Gigacloud Technology Inc
[{"type":"text","content":"Continued B2B Marketplace Expansion and Proven Strength of the SFR Model\nEL MONTE, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced financial results for the first quarter ended March 31, 2025, including sustained revenue and GMV growth over the comparable prior year period. First Quarter 2025 Financial Highlights Total revenues of $271.9 million, increased 8.3% year-over-year.Gross profit of $63.7 million, decreased 4.2% year-over-year.Gross margin was 23.4%, compared to 26.5% in the first quarter of 2024.Net income of $27.1 million, in line with $27.2 million reported in the prior-year period.Net income margin was 10.0%, compared to 10.8% in the first quarter of 2024.Diluted EPS increased 3.0% year-over-year to $0.68.Adjusted EBITDA1 of $33.2 million, decreased 3.8% year-over-year.Adjusted EPS – diluted2 of $0.83, decreased 1.2% year-over-year.Cash and cash equivalents, Restricted Cash, and Investments totaled $287.5 million as of March 31, 2025, a 5.1% decrease from December 31, 2024. Operational Highlights GigaCloud Marketplace GMV3 increased 56.1% year-over-year to $1,416.7 million for the 12 months ended March 31, 2025.3P seller GigaCloud Marketplace GMV4 increased 49.9% year-over-year to $734.3 million for the 12 months ended March 31, 2025. 3P seller GigaCloud Marketplace GMV represented 51.8% of total GigaCloud Marketplace GMV for the 12 months ended March 31, 2025.Active 3P sellers5 increased 33.4% year-over-year to 1,154 for the 12 months ended March 31, 2025.Active buyers6 increased 81.4% year-over-year to 9,966 for the 12 months ended March 31, 2025.Spend per active buyer7 was $142,156 for the 12 months ended March 31, 2025. “Despite persistent industry headwinds, we continue to grow and see the strength of the GigaCloud Marketplace come through—buyers and sellers continue to lean in during times of volatility and challenge. That is a testament to the efficiency and value created by our Supplier Fulfilled Retailing (SFR) model,” said Larry Wu, Founder, Chairman, and Chief Executive Officer. “We are building GigaCloud to thrive for the long-term by empowering our partners to do business smarter in an increasingly complex global market. While we are activ...