GigaCloud Q4 revenue up 94.8% YoY to $244.7M; net income $35.6M (+184.8%)

GigaCloud Technology Inc

Full-year 2023 revenue $703.8M (+43.6%); net income $94.1M (+292.1%); adjusted EBITDA $118.3M (+183.0%).
Completed acquisitions of Noble House ($77.6M) and Wondersign ($10M) in Q4; added 2.4M sq ft U.S. warehousing.
March 9 warehouse fire in Japan; estimated $1.8M inventory loss, fully insured; operations shifted to other warehouses.
Q1 2024 revenue guidance $230-240M; share repurchase program $25M, $1.6M used through Dec 31, 2023.
Active 3P sellers rose 45.5% to 815; Marketplace GMV $794.4M (+53.3%) in trailing 12 months.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GigaCloud Technology Inc reported the quarter and year ended December 31, 2023 results: revenue $244.7 million, net income $35.6 million.

Period: the quarter and year ended December 31, 2023
Revenue: $244.7 million
Net income: $35.6 million
Result: reported results

Exact text from the filing

today announced its unaudited financial results for the quarter and the fiscal year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights • Total revenues were $244.7 million in the fourth quarter of 2023, an increase of 94.8% from $125.6 million in the fourth quarter of 2022. • Gross profit was $69.8 million in the fourth quarter of 2023, an increase

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Source: SEC EDGAR

accession 0001857816-24-000046

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