GigaCloud Technology Inc. Reports $322.6 Million Revenue for Q2 2025, 3.8% Increase Year-Over-Year

GigaCloud Technology Inc. reported a total revenue of $322.6 million for the three months ended June 30, 2025, marking a 3.8% increase from $310.9 million in the same period last year. The company's service revenues rose to $96.9 million, a 1.1% increase, while product revenues increased by 4.1% to $225.7 million. For the six months ended June 30, 2025, total revenues reached $594.5 million, up 5.8% from $561.9 million in the prior year. The net income for the second quarter was $34.6 million, compared to $27.0 million in the previous year, resulting in a net income per share of $0.91, up from $0.65.

The company experienced notable changes in its operational metrics, with active 3P sellers increasing by 24.9% to 1,162, and active buyers rising by 50.9% to 10,951 in the 12 months ending June 30, 2025. The GigaCloud Marketplace GMV also saw significant growth, reaching $1.44 billion, a 31% increase year-over-year. However, the spend per active buyer decreased by 13.2% to $131,359, attributed to a higher influx of new buyers who typically spend less initially.

In terms of strategic developments, GigaCloud has been actively repurchasing shares, with a total of 1.67 million Class A ordinary shares repurchased in the second quarter at an average price of $13.92. The company has also made adjustments to its accounting practices, changing how it recognizes last-mile fulfillment activities, which has improved revenue transparency. Additionally, GigaCloud continues to expand its geographic footprint, with fulfillment centers now located in the U.S., Japan, Europe, and Canada.

The company’s operational efficiency is reflected in its gross profit, which was $76.9 million for the second quarter, with a gross margin of 23.9%, slightly down from 24.6% in the previous year. Operating expenses decreased significantly to $41.1 million from $49.0 million, primarily due to reduced general and administrative costs. GigaCloud's cash and cash equivalents stood at $240.1 million as of June 30, 2025, providing a solid liquidity position to support ongoing operations and potential future investments.

Looking ahead, GigaCloud Technology Inc. remains optimistic about its growth trajectory, driven by increasing marketplace activity and strategic initiatives aimed at enhancing seller and buyer engagement. The company plans to continue leveraging its logistics and fulfillment capabilities to attract more sellers and expand its market share, while also navigating the challenges posed by global economic conditions and trade policies.