GigaCloud Q1 revenue jumps 96.5% to $251.1M; guides Q2 revenue $265-280M

GigaCloud Technology Inc

2024-Q1 EPS reported $0.66 revenue$251,077,000

Revenue $251.1M (+96.5% YoY); net income $27.2M (+71.1%); diluted EPS $0.66 (+69.2%).
Gross margin 26.5% (+340 bps YoY); adjusted EBITDA $34.5M (+74.2%); adjusted EPS $0.84 (+71.4%).
Marketplace GMV $907.7M (+64%); 3P GMV $489.9M (+71.8%); active 3P sellers 865 (+43.7%).
Q2 2024 revenue guidance $265-280M, reflecting current market and operational conditions.
Launched Branding-as-a-Service (BaaS) leveraging Christopher Knight Home brand for sellers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GigaCloud Technology Inc reported first quarter ended March 31, 2024 results: revenue Total revenues of $251.1 million, net income Net income of $27.2 million, EPS Diluted EPS increased 69.2% to $0.66.

Period: first quarter ended March 31, 2024
Revenue: Total revenues of $251.1 million
Net income: Net income of $27.2 million
EPS: Diluted EPS increased 69.2% to $0.66
Result: reported results

Exact text from the filing

2024, including substantial growth in revenue, gross profit, and net income over the comparable prior year period. First Quarter 2024 Financial Highlights • Total revenues of $251.1 million, increased 96.5% from $127.8 million in the first quarter of 2023. • Gross profit of $66.5 million, increased 124.7% from $29.6 million in the first quarter of 2023. Gross margin

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Source: SEC EDGAR

accession 0001857816-24-000126

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