**GigaCloud Technology Inc. Reports Fiscal Year 2025 Results, Cites Growth in Marketplace**
El Monte, CA – GigaCloud Technology Inc., a B2B e-commerce solutions provider for large parcel merchandise, announced its financial results for the fiscal year ended December 31, 2025. The company reported total revenues of $1.29 billion, an 11.1% increase compared to $1.16 billion in 2024. This growth was attributed to the increasing scale and market recognition of the GigaCloud Marketplace, which led to higher sales volumes and an expanded base of both sellers and buyers. Gross profit for the year reached $300.7 million, up from $285.2 million in the previous year, while operating income increased to $145.0 million from $130.6 million. Net income for 2025 was $137.4 million, or $3.59 per diluted share, compared to $125.8 million, or $3.05 per diluted share, in 2024.
Key operational metrics highlighted in the filing included GigaCloud Marketplace GMV (Gross Merchandise Value) of $1.58 billion, a 17.5% increase from $1.34 billion in 2024. The number of active 3P sellers on the platform grew to 1,299, up from 1,111 in the prior year, and the active buyer count reached 12,089, a 29.9% increase from 9,306 in 2024. Spend per active buyer, however, decreased to $130,431 from $144,142 in the previous year. The company generates revenue through three primary streams: GigaCloud 3P (service revenues), GigaCloud 1P (product revenues from its own inventory on the marketplace), and off-platform e-commerce (product revenues from sales on third-party websites).
The company's cost of revenues increased to $989.2 million in 2025 from $875.8 million in 2024, driven by higher delivery costs and increased fulfillment center rental expenses. Operating expenses also saw a slight increase, totaling $155.7 million compared to $154.6 million in the previous year. Selling and marketing expenses rose due to increased platform service fees and staff costs, while general and administrative expenses decreased due to reduced staff costs and lower rental expenses. Research and development expenses increased slightly, reflecting the company's continued investment in its technology platform.
In terms of strategic developments, GigaCloud Technology completed the acquisition of New Classic Home Furnishings, Inc. on January 1, 2026, for approximately $18 million. This acquisition follows the earlier acquisitions of Noble House and Wonder in 2023, all aimed at expanding the company's product offerings and enhancing its marketplace experience. The company also repurchased 328,366 Class A ordinary shares for an average price of $32.60 during the fourth quarter of 2025, as part of its share repurchase program. As of December 31, 2025, the company had $379.8 million in cash and cash equivalents, $0.8 million in restricted cash, and $36.3 million in short-term investments. The company believes its current cash resources are sufficient to meet its anticipated needs for at least the next 12 months.
About GigaCloud Technology Inc
GigaCloud Technology Inc. operates a global B2B ecommerce platform specializing in large parcel merchandise, connecting manufacturers primarily in Asia with resellers in the U.S., Europe, and Asia. Its integrated marketplace offers product discovery, payments, logistics, and fulfillment services, supported by extensive warehousing and shipping networks. The company generates revenue through platform commissions, product sales, and off-platform ecommerce, leveraging AI and proprietary data to optimize supply chain efficiency and expand international trade.
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