GigaCloud Technology Inc. reported fourth‑quarter revenue of $362.7 million, up 10% from $295.8 million in Q4 2024, and a diluted earnings per share of $1.04, a $0.38 beat over the consensus estimate of $0.66. Full‑year 2025 revenue reached $1.2899 billion, a 10% increase from $1.161 billion in 2024, while diluted EPS rose to $3.59, surpassing the $3.59 consensus by $0.04.
The company’s gross margin expanded to 22.9% in Q4, up from 22.0% a year earlier, but full‑year gross margin contracted to 23.3% from 24.6% in 2024. Management attributed the quarterly margin lift to higher mix of high‑margin service contracts and improved operational leverage, while the full‑year contraction was driven by seasonal surcharges that pressured service margins during the holiday season.
Revenue growth was concentrated in Europe, where the company recorded a 68% year‑over‑year increase, and in its product revenue segment, which grew 24% in Q4. The 3P marketplace now accounts for 54% of total marketplace GMV, reflecting a strategic shift toward third‑party sellers. CEO Larry Wu noted that the company delivered "record revenue" and "record EPS" amid a volatile macro environment.
GigaCloud reaffirmed its guidance for the first quarter of 2026, projecting revenue between $330 million and $355 million, well above the analyst consensus of $290 million. The guidance signals management’s confidence in sustained demand and the effectiveness of its pricing strategy, even as it navigates tariff‑related cost pressures.
Strategically, the company completed the acquisition of New Classic Home Furnishings in January 2026 and continues to integrate the Noble House portfolio, which has contributed over 40% year‑over‑year growth in Q4. CFO Erica Wei highlighted that the company generated $64 million in operating cash flow during the quarter and ended with $417 million in liquidity, remaining debt‑free. The company also continues a $111 million share‑repurchase program, having repurchased $33 million to date.
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