--Delivering Record Revenue and EPS--

EL MONTE, Calif., Feb. 26, 2026 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) ("GigaCloud" or the "Company"), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced financial results for the fourth quarter and fiscal year ended December 31, 2025, highlighted by record revenues and EPS.

Fourth Quarter 2025 Financial Highlights

   -- Total revenues of $362.7 million, increased 22.7% year-over-year. 
 
   -- Gross profit of $82.9 million, increased 27.5% year-over-year. Gross 
      margin was 22.9%, compared to 22.0% in the fourth quarter of 2024. 
 
   -- Net income of $38.5 million, increased 24.2% year-over-year.Net income 
      margin was 10.6%, compared to 10.5% in the fourth quarter of 2024. 
      Diluted EPS increased 36.8% year-over-year to $1.04. 
 
   -- Adjusted EBITDA1 increased 39.2% year-over-year to $43.0 million.Adjusted 
      EPS -- diluted2 increased 54.7% year-over-year to $1.16. 
 
   -- Cash, Cash Equivalents, Restricted Cash, and Investments totaled $416.9 
      million as of December 31, 2025, a 37.5% increase year-over-year. 

Full Year 2025 Financial Highlights

   -- Total revenues of $1,289.9 million, increased 11.1% year-over-year. 
 
   -- Gross profit of $300.7 million, increased 5.4% year-over-year.Gross 
      margin was 23.3%, compared to 24.6% in 2024. 
 
   -- Net income of $137.4 million, increased 9.2% year-over-year. Net income 
      margin was 10.6%, compared to 10.8% in 2024.Diluted EPS increased 17.7% 
      year-over-year to $3.59. 
 
   -- Adjusted EBITDA1 increased 3.8% year-over-year to $162.9 million.Adjusted 
      EPS -- diluted2 increased 11.8% year-over-year to $4.26. 

Operational Highlights

   -- GigaCloud Marketplace GMV3 increased 17.5% year-over-year to $1,576.8 
      million for the 12 months ended December 31, 2025. 
 
   -- 3P seller GigaCloud Marketplace GMV4 increased 22.7% year-over-year to 
      $851.2 million for the 12 months ended December 31, 2025. 3P seller 
      GigaCloud Marketplace GMV represented 54.0% of total GigaCloud 
      Marketplace GMV for the 12 months ended December 31, 2025. 
 
   -- Active 3P sellers5 increased 16.9% year-over-year to 1,299 for the 12 
      months ended December 31, 2025. 
 
   -- Active buyers6 increased 29.9% year-over-year to 12,089 for the 12 months 
      ended December 31, 2025. 
 
   -- Spend per active buyer7 was $130,431 for the 12 months ended December 31, 
      2025. 

"We closed out an exceptional year with record revenues and EPS, a validation of the strength and intentionality behind our growth strategy. Our model is built for global adaptability -- designed to perform even in challenging environments. By expanding our footprint, scaling our marketplace, and executing targeted acquisitions that deepen our channel-agnostic ecosystem, we have built a business for resilience and accelerating potential," said Larry Wu, Founder and Chief Executive Officer. "While global macro conditions are ever evolving, we have designed a flexible, highly responsive model that enables us to adapt quickly and continue outperforming. We are grateful for the trust and support of our shareholders, and we are determined to reward that trust."

"Our strong execution delivered positive operating cash flow of $64 million in the fourth quarter, driving year--end liquidity of $417 million in cash and cash equivalents, restricted cash and short-term investments, and a balance sheet with zero debt," said Erica Wei, Chief Financial Officer. "This financial strength allows us to continue investing in opportunities that support our long-term growth, while returning capital to shareholders through buybacks. To date, we have executed approximately $33 million in share buybacks under our latest $111 million three-year buyback plan announced in August 2025. With these resources, we remain well positioned to execute on our diversification strategy and support durable, long-term value creation."

Business Outlook

The Company expects its total revenues to be between $330 million and $355 million in the first quarter of 2026. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.

Share Repurchase Program

On August 13, 2025, the Company's Board of Directors approved a $111.0 million share repurchase program. The program became effective on August 17, 2025 and will remain in effect for a period of three years. The previously authorized share repurchase program was terminated effective August 16, 2025. During the fourth quarter of 2025, we repurchased 328,366 of our Class A ordinary shares at a total consideration of approximately $10 million. Subsequent to the fourth quarter of 2025, the Company has repurchased an aggregate of 297,944 Class A ordinary shares in the open market at a total consideration of approximately $12 million pursuant to a repurchase plan under Rule 10b5-1 of the Exchange Act.

Under the share repurchase program, the Company may purchase its ordinary shares through various means, including open market transactions, privately negotiated transactions, block trades, any combination thereof or other legally permissible means. The Company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company's working capital requirements, general business conditions and other factors.

Conference Call

The Company will host a conference call to discuss its financial results at 8:00 am U.S. Eastern Time on February 26, 2026. Participants who wish to join the call should pre-register here at https://dpregister.com/DiamondPassRegistration/register?confirmationNumber=10206512&linkSecurityString=10346055900. Upon registration, participants will receive the dial-in number and a unique PIN, which can be used to join the conference call. If participants register and forget their PIN or lose their registration confirmation email, they may re-register to receive a new PIN. All participants are encouraged to dial in 15 minutes prior to the start time.

A live and archived webcast of the conference call will be accessible on the Company's investor relations website at: https://investors.gigacloudtech.com/.

About GigaCloud Technology Inc

GigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company's B2B ecommerce platform, the "GigaCloud Marketplace," integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company's global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer's warehouse to the end customer's doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company's website: https://investors.gigacloudtech.com/

Non-GAAP Financial Measures

The Company uses certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EPS -- diluted, to understand and evaluate its core operating performance. Adjusted EBITDA is net income excluding interest, income taxes and depreciation, further adjusted to exclude share-based compensation expense and non-recurring items. Adjusted EPS -- diluted is a financial measure defined as our Adjusted EBITDA divided by our diluted weighted-average shares outstanding, respectively. Management uses Adjusted EBITDA and Adjusted EPS -- diluted as measures of operating performance, for planning purposes, to allocate resources to enhance the financial performance of our business, to evaluate the effectiveness of our business strategies and in communications with our Board of Directors and investors concerning our financial performance. Non-GAAP financial measures, which may differ from similarly titled measures used by other companies, are presented to enhance investors' overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP.

For more information on the non-GAAP financial measures, please see the tables captioned "Unaudited Reconciliation of Adjusted EBITDA" and "Unaudited Reconciliation of Adjusted EPS -- diluted" set forth at the end of this press release.

Forward-Looking Statements

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