GigaCloud Technology Inc Announces Second Quarter and Six Months Ended June 30, 2026 Financial Results

About this update from Gigacloud Technology Inc

Delivers another Quarter of Record Revenue and EPS EL MONTE, Calif., Aug. 06, 2026 (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 second quarter and six months ended June 30, 2026, reporting record second quarter revenue and earnings per share over the comparable prior year period. Second Quarter 2026 Financial Highlights Total revenues of $411.6 million, increased 27.6% year-over-year. Gross profit of $105.6 million, increased 37.3% year-over-year. Gross margin was 25.6%, compared to 23.9% in the second quarter of 2025. Net income of $42.3 million, increased 22.3% year-over-year. Net income margin was 10.3%, compared to 10.7% in the second quarter of 2025. Diluted EPS increased 27.5% year-over-year to $1.16. Adjusted EBITDA 1 of $60.4 million, increased 39.5% year-over-year. Adjusted EPS – diluted 2 of $1.65, increased 44.7% year-over-year. Cash and cash equivalents, Restricted cash, and Investments totaled $378.6 million as of June 30, 2026, a 9.2% decrease from December 31, 2025. Year-to-Date 2026 Financial Highlights Total revenues of $771.1 million, increased 29.7% year-over-year. Gross profit of $191.4 million, increased 36.0% year-over-year. Gross margin was 24.8%, compared to 23.7% in the first half of 2025. Net income of $80.5 million, increased 30.5% year-over-year. Net income margin was 10.4%, compared to 10.4% in the first half of 2025. Diluted EPS increased 38.6% year-over-year to $2.19. Adjusted EBITDA of $106.0 million, increased 38.6% year-over-year. Adjusted EPS – diluted of $2.89, increased 47.4% year-over-year. Operational Highlights GigaCloud Marketplace GMV 3 increased 21.3% year-over-year to $1,744.8 million for the 12 months ended June 30, 2026. 3P seller GigaCloud Marketplace GMV 4 increased 27.0% year-over-year to $962.3 million for the 12 months ended June 30, 2026. 3P seller GigaCloud Marketplace GMV represented 55.2% of total GigaCloud Marketplace GMV for the 12 months ended June 30, 2026. Active 3P sellers 5 increased 26.1% year-over-year to 1,465 for the 12 months ended June 30, 2026. Active buyers 6 increased 17.1% year-over-year to 12,823 for the 12 months ended June 30, 2026. Spend per active buyer 7 was $136,069 for the 12 months ended June 30, 2026. “This marks our sixteenth quarterly report. Over the years, the market has weathered numerous ups and downs, yet we have remained consistent – because true value creation has never been about chasing the latest trends, but about discipline and focus, day in and day out,” said Larry Wu, Founder and Chief Executive Officer. “This quarter, we once again proved with record revenue and earnings per share that steadiness is not mediocrity, but the strongest defense against uncertainty. Going forward, we will continue to tune out the noise, stay the course, execute with discipline, and deliver sustainable long-term value for our shareholders.” “Our strong balance sheet and cash generation continue to provide the flexibility to execute our capital allocation strategy dynamically,” said Erica Wei, Chief Financial Officer. “We accelerated our share repurchases to approximately $30 million in the second quarter and deployed an additional $18 million post June 30, 2026, capitalizing on recent market volatility and the resulting pricing dislocation. With approximately $30 million remaining and two years left on our prior authorization – insufficient for opportunistic execution – we have cancelled our existing plan in favor of a new three-year $120 million program. We remain firmly committed to disciplined capital allocation and building value for our long-term shareholders.” Business Outlook The Company expects its total revenues to be between $375 million and $400 million in the third quarter of 2026. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof. Share Repurchase Program On August 13, 2025, the Company’s Board of Directors approved a $111.0 million share repurchase program (the “2025 Program”). The 2025 Program became effective on August 17, 2025 and will remain in effect for a period of three years. During the second quarter of 2026, we repurchased 758,612 of our Class A ordinary shares at a total consideration of approximately $30.0 million. Subsequent to the second quarter of 2026, the Company has repurchased an aggregate of 491,831 Class A ordinary shares in the open market at a total consideration of approximately $17.7 million pursuant to a repurchase plan under Rule 10b5-1 of the Exchange Act. As of August 5, 2026, approximately $29.6 million remained unutilized under the 2025 Program. On August 5, 2026, the Company’s Board of Directors approved a new $120.0 million share repurchase program (the “2026 Program”). The 2026 Program became effective on August 6, 2026 and will remain in effect for a period of three years, while the 2025 Program was terminated on the same date. Under the share repurchase program, the Company may purchase its ordinary shares through various means, including open market transactions, privately negotiated transactions, block trades, any combination thereof or other legally permissible means. The Company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company’s working capital requirements, general business conditions and other factors. Conference Call The Company will host a conference call to discuss its financial results at 8:00 am U.S. Eastern Time on August 6, 2026. Participants can access the conference call at https://dpregister.com/DiamondPassRegistration/register?confirmationNumber=10210427&linkSecurityString=1046d15dde9 by entering their details to receive a call that will connect them to the conference. All participants are encouraged to dial in 15 minutes prior to the start time. A live and archived webcast of the conference call will be accessible on the Company’s investor relations website at: https://investors.gigacloudtech.com/ . About GigaCloud Technology Inc GigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, which it refers to as the “GigaCloud Marketplace,” integrates everything from discovery and payments to logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/ . Non-GAAP Financial Measures The Company uses certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EPS – diluted, to understand and evaluate its core operating performance. Adjusted EBITDA is net income excluding interest, income taxes and depreciation and amortization, further adjusted to exclude share-based compensation expense. Adjusted EPS – diluted is a financial measure defined as our Adjusted EBITDA divided by our diluted weighted-average shares outstanding. Management uses Adjusted EBITDA and Adjusted EPS – diluted as measures of operating performance, for planning purposes, to allocate resources to enhance the financial performance of our business, to evaluate the effectiveness of our business strategies and in communications with our Board of Directors and investors concerning our financial performance. Non-GAAP financial measures, which may differ from similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. For more information on the non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliation of Adjusted EBITDA” and “Unaudited Reconciliation of Adjusted EPS – diluted” set forth at the end of this press release. Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. For investor and media inquiries, please contact: GigaCloud Technology Inc  Investor Relations Email: [email protected] PondelWilkinson, Inc. Todd Kehrli (Investors) – [email protected] ; Laurie Berman (Investors) –  [email protected] George Medici (Media) – [email protected] GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands except for share data and per share data)           June 30, 2026   December 31, 2025 ASSETS       Current assets       Cash and cash equivalents $ 334,497   $ 379,780 Restricted cash   739     760 Investments   43,334     36,316 Accounts receivable, net   91,707     65,973 Inventories   218,004     188,298 Prepayments and other current assets   41,957     19,535 Total current assets   730,238     690,662 Non-current assets       Operating lease right-of-use assets   456,704     431,455 Property and equipment, net   37,852     32,281 Intangible assets, net   4,624     4,978 Goodwill   12,900     12,586 Deferred tax assets   15,546     12,981 Other non-current assets   15,849     17,516 Total non-current assets   543,475     511,797 Total assets $ 1,273,713   $ 1,202,459 GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (continued) (In thousands except for share data and per share data)           June 30, 2026   December 31, 2025 LIABILITIES AND SHAREHOLDERS’ EQUITY       Current liabilities       Accounts payable $ 86,128   $ 105,407 Contract liabilities   5,437     6,459 Current operating lease liabilities   121,374     100,326 Income tax payable   7,666     17,509 Accrued expenses and other current liabilities   125,333     112,547 Contingent consideration   3,368     — Total current liabilities   349,306     342,248 Non-current liabilities       Operating lease liabilities, non-current   384,108     368,321 Deferred tax liabilities   734     797 Finance lease obligations, non-current   774     690 Non-current income tax payable   4,768     4,604 Total non-current liabilities   390,384     374,412 Total liabilities $ 739,690   $ 716,660 Commitments and contingencies $ —   $ — Shareholders’ equity       Treasury shares, at cost (nil and 237,269 shares held as of June 30, 2026 and December 31, 2025, respectively) $ —     $ (7,126 ) Class A ordinary shares ($0.05 par value, 50,673,268 shares authorized, 29,331,394 and 29,637,687 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)   1,467       1,495   Class B ordinary shares ($0.05 par value, 9,326,732 shares authorized, 6,870,674 and 7,276,732 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)   343       363   Additional paid-in capital   91,454       88,674   Accumulated other comprehensive income (loss)   (111 )     1,527   Retained earnings   440,870       400,866   Total shareholders’ equity   534,023       485,799   Total liabilities and shareholders’ equity $ 1,273,713     $ 1,202,459   GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands except for share data and per share data)           Three Months Ended June 30,   Six Months Ended June 30,     2026       2025       2026       2025   Revenues               Service revenues $ 120,826     $ 96,924     $ 237,366     $ 190,992   Product revenues   290,817       225,682       533,765       403,520   Total revenues   411,643       322,606       771,131       594,512   Cost of revenues               Services   106,715       85,856       213,345       165,012   Products   199,372       159,806       366,384       288,830   Total cost of revenues   306,087       245,662       579,729       453,842   Gross profit   105,556       76,944       191,402       140,670   Operating expenses               Selling and marketing expenses   36,182       24,778       67,424       43,336   General and administrative expenses   19,164       13,031       28,926       27,371   Research and development expenses   2,691       3,184       5,049       5,677   Losses on disposal of property and equipment   8       108       13       120   Total operating expenses   58,045       41,101       101,412       76,504   Operating income   47,511       35,843       89,990       64,166   Interest expense   (106 )     (32 )     (226 )     (55 ) Interest income   3,058       2,814       6,042       5,435   Foreign currency exchange gains (losses), net   (847 )     647       (1,127 )     1,439   Others, net   293       1,682       1,147       2,474   Income before income taxes   49,909       40,954       95,826       73,459   Income tax expense   (7,574 )     (6,402 )     (15,367 )     (11,761 ) Net income $ 42,335     $ 34,552     $ 80,459     $ 61,698   Foreign currency translation adjustment, net of nil income taxes   317       879       265       1,290   Net unrealized gain (loss) on available-for-sale investments   5       (1 )     (3 )     (7 ) Intra-entity foreign currency transactions gain (loss)   (240 )     3,386       (1,849 )     5,022   Release of foreign currency translation reserve related to liquidation of subsidiaries   (18 )     —       (51 )     (1 ) Total other comprehensive income (loss)   64       4,264       (1,638 )     6,304   Comprehensive Income $ 42,399     $ 38,816     $ 78,821     $ 68,002   Net income per ordinary share               —Basic $ 1.16     $ 0.91     $ 2.20     $ 1.58   —Diluted $ 1.16     $ 0.91     $ 2.19     $ 1.58   Weighted average number of ordinary shares    outstanding used in computing net income per    ordinary share               —Basic   36,531,397       38,073,239       36,607,246       39,041,373   —Diluted   36,546,441       38,106,956       36,658,585       39,117,361   GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)       Six Months Ended June 30,     2026       2025   Cash flows from operating activities:       Net income $ 80,459     $ 61,698   Adjustments to reconcile net income to net cash provided by operating activities:       Depreciation and amortization   4,431       4,189   Share-based compensation   11,590       4,253   Operating lease   11,703       3,026   Changes in accounts receivables   (19,247 )     (9,679 ) Changes in inventories   (22,743 )     (8,934 ) Changes in prepayments and other assets   (22,058 )     30   Changes in accounts payable, accrued expenses and other current liabilities   (10,277 )     (53 ) Changes in contract liabilities   (843 )     1,296   Changes in income tax payable   (9,517 )     (6,906 ) Changes in deferred income taxes   (1,154 )     (1,195 ) Other operating activities   4,360       317   Net cash provided by operating activities   26,704       48,042   Cash flows from investing activities:       Purchases of property and equipment   (7,784 )     (3,972 ) Disposals of property and equipment   104       109   Acquisitions, net of cash acquired   (14,284 )     —   Purchases of investments   (42,825 )     (67,301 ) Sales and maturities of investments   35,793       46,986   Net cash used in investing activities   (28,996 )     (24,178 ) Cash flows from financing activities:       Repayment of finance lease obligations   (300 )     (178 ) Repurchases of ordinary shares   (42,298 )     (46,029 ) Net cash used in financing activities   (42,598 )     (46,207 ) Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash   (414 )     2,709   Net decrease in cash, cash equivalents and restricted cash   (45,304 )     (19,634 ) Cash, cash equivalents and restricted cash at the beginning of the period   380,540       260,444   Cash, cash equivalents and restricted cash at the end of the period $ 335,236     $ 240,810   Supplemental disclosure of cash flow information       Cash paid for interest expense $ 226     $ 55   Cash paid for income taxes $ 25,894     $ 19,839   Non-cash investing and financing activities:       Purchase of property and equipment under finance leases $ 695     $ 695   Contingent consideration and consideration payable $ 3,325     $ —   GigaCloud Technology Inc UNAUDITED RECONCILIATION OF ADJUSTED EBITDA (In thousands, except for per share data)           Three Months Ended June 30,   Six Months Ended June 30,     2026       2025       2026       2025     (In thousands)   (In thousands) Net Income $ 42,335     $ 34,552     $ 80,459     $ 61,698   Add: Income tax expense   7,574       6,402       15,367       11,761   Add: Interest expense   106       32       226       55   Less: Interest income   (3,058 )     (2,814 )     (6,042 )     (5,435 ) Add: Depreciation and amortization   2,205       2,140       4,431       4,189   Add: Share-based compensation expenses   11,245       3,026       11,590       4,253   Adjusted EBITDA $ 60,407     $ 43,338     $ 106,031     $ 76,521   UNAUDITED RECONCILIATION OF ADJUSTED EPS – DILUTED           Three Months Ended June 30,   Six Months Ended June 30,     2026       2025       2026       2025   Net income per ordinary share – diluted $ 1.16     $ 0.91     $ 2.19     $ 1.58   Adjustments, per ordinary share:               Add: Income tax expense   0.21       0.17       0.42       0.30   Add: Interest expense   —       —       0.01       —   Less: Interest income   (0.08 )     (0.07 )     (0.16 )     (0.14 ) Add: Depreciation and amortization   0.05       0.06       0.11       0.11   Add: Share-based compensation expenses   0.31       0.07       0.32       0.11   Adjusted EPS – diluted $ 1.65     $ 1.14     $ 2.89     $ 1.96                   Weighted average number of ordinary shares outstanding - diluted   36,546,441       38,106,956       36,658,585       39,117,361   ________________________________ 1 Adjusted EBITDA is a non-GAAP financial measure. For more information on the non-GAAP financial measure, please see the section of “Non-GAAP Financial Measure” and the table captioned “Unaudited Reconciliation of Adjusted EBITDA” set forth at the end of this press release. 2 Adjusted EPS – diluted is a non-GAAP financial measure. For more information on the non-GAAP financial measure, please see the section of “Non-GAAP Financial Measure” and the table captioned “Unaudited Reconciliation of Adjusted EPS – diluted” set forth at the end of this press release. 3 GigaCloud Marketplace GMV means the total gross merchandise value of transactions ordered through our GigaCloud Marketplace including GigaCloud 3P and GigaCloud 1P, before any deductions of value added tax, goods and services tax, shipping charges paid by buyers to sellers and any refunds. 4 3P seller GigaCloud Marketplace GMV means the total gross merchandise value of transactions sold through our GigaCloud Marketplace by 3P sellers, before any deductions of value added tax, goods and services tax, shipping charges paid by buyers to sellers and any refunds. 5 Active 3P sellers means sellers who have sold a product in GigaCloud Marketplace within the last 12-month period, irrespective of cancellations or returns. 6 Active buyers means buyers who have purchased a product in the GigaCloud Marketplace within the last 12-month period, irrespective of cancellations or returns. 7 Spend per active buyer is calculated by dividing the total GigaCloud Marketplace GMV within the last 12-month period by the number of active buyers as of such date.

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