Mon, Mar 3, 9:19 PM (48 days ago)
**GigaCloud Technology Inc (GCT) 2024 10-K Summary** For the fiscal year ending December 31, 2024, GigaCloud Technology Inc reported total revenues of $1,161,042, a significant increase from $703,831 in 2023, reflecting a 65.0% year-over-year growth. The company achieved a net income of $125,808, up from $94,108 in 2023. Gross profit was $285,236, with a gross margin of 24.6%. Key drivers included a surge in GigaCloud Marketplace GMV to $1,341,385, supported by an increase in active 3P sellers (1,111) and buyers (9,306). Strategically, GigaCloud completed acquisitions of Noble House and Wondersign, enhancing its product offerings and logistics capabilities. However, operational challenges remain, including rising transportation costs and the impact of global economic conditions on consumer spending. Key risks involve regulatory scrutiny in the U.S. and China, potential delisting under the HFCAA, and cybersecurity threats. The company maintains a dual-class share structure, concentrating voting power, which may deter external investment interest. Future growth will depend on expanding its seller and buyer base while effectively managing operational costs and compliance with evolving regulations.