GigaCloud Technology Inc. Reports 27.6% Revenue Growth to $411.6 Million in Latest Quarter

GigaCloud Technology Inc. reported significant financial growth in its latest quarterly filing for the period ending June 30, 2026. The company achieved total revenues of $411.6 million, marking a 27.6% increase from $322.6 million in the same period last year. This growth was driven by both service revenues from its GigaCloud 3P business and product revenues from GigaCloud 1P and off-platform sales. Net income for the quarter was $42.3 million, up from $34.6 million in the prior year, resulting in a diluted earnings per share of $1.16 compared to $0.91.

In comparison to the previous fiscal period, GigaCloud's service revenues rose by 24.7% to $120.8 million, primarily due to increased demand for last-mile delivery services, which saw a 29.9% increase. Product revenues from GigaCloud 1P also grew by 4.1% to $98.1 million, while off-platform product revenues surged by 46.8% to $192.6 million, reflecting the company's expanding market presence and sales channels. The overall gross profit for the quarter was $105.6 million, with a gross margin of 25.6%, up from 23.9% in the previous year.

Strategically, GigaCloud completed the acquisition of New Classic Home Furnishings, Inc. in January 2026 for $18.7 million, which is expected to enhance its product offerings and market reach. The company has also been actively repurchasing shares, with a total of 758,612 Class A ordinary shares repurchased during the quarter at an average price of $39.55, totaling approximately $30 million. As of June 30, 2026, GigaCloud had $334.5 million in cash and cash equivalents, indicating a strong liquidity position to support ongoing operations and future growth initiatives.

Operationally, GigaCloud reported an increase in key metrics, including active 3P sellers, which rose to 1,465 from 1,162 year-over-year, and active buyers, which increased to 12,823 from 10,951. The company's GigaCloud Marketplace GMV reached $1.74 billion for the 12 months ending June 30, 2026, a 21.3% increase from the previous year. This growth reflects the company's ability to attract and retain both sellers and buyers, bolstered by its comprehensive fulfillment and logistics network.

Looking ahead, GigaCloud remains optimistic about its growth trajectory, driven by its expanding marketplace, strategic acquisitions, and ongoing investments in technology and infrastructure. The company plans to continue enhancing its service offerings and expanding its geographic reach, while also navigating potential challenges related to market conditions and trade policies.