GigaCloud Technology (GCT) Shatters Expectations with 95% Revenue Surge in Q4

GigaCloud Technology (GCT) — another popular high-growth phase hi tech and digital marketplace — just released its financial report, showing its GAAP earnings per share were $0.87 on revenue of $244.7 million. Q4 GAAP earnings per share came in at $0.87. Revenue skyrocketed to $244.7 million (up a whopping 94.8% YoY).

Operationally, GigaCloud Marketplace GMV for the full 2023 grew to $794.4 million, posting an increase of 53.3% from $518.2 million for the 12 months ended December 31, 2023. The company also reported 815 active 3P sellers in the 12 months ended December 31, 2023, an increase of 45.5% from 560 in the 12 months ended December 31, 2022.

The number of active buyers for the 12 months for the reporting period rose to 5,010, representing an increase of over 20% from 4,156 for the 12 months over the reporting period, while spending per active buyer also increased to $158,569, by 27.2% from $124,692 for the 12 months ended December 31, 2022.

Looking ahead, GigaCloud sounded even more upbeat, projecting total revenues to be between $230 million and $240 million for the first quarter of 2024. That guidance reflected the company’s “continuous efforts to adapt to market dynamics, innovate its offerings, and expand its global presence”.