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• Total Revenue: Surpassed $1 billion for the year, with a 21% year-over-year increase in Q4 to $296 million.

• Annual Revenue Growth: 65% increase from 2023, reaching over $1.1 billion.

• Marketplace GMV: Grew almost 70% to $1.3 billion for the trailing 12 months ended December 31, 2024.

• Service Revenue: Increased 40% year-over-year in Q4 to over $97 million; full year service revenue reached $350 million, a 76% increase year-over-year.

• Service Margin: 19.5% in Q4, expanding approximately 2 percentage points year-over-year.

• Product Revenue: Fourth quarter revenue increased by more than 13%; full year product revenue grew by 61% to $811 million.

• Net Income: $31 million in Q4, down 13% from $36 million in Q4 2023; full year net income was $126 million, a 34% increase from $94 million in 2023.

• Liquidity: Ended the year with approximately $303 million, up 65% from $184 million at the end of 2023.

• Active 3P Seller Base: Grew to more than 1,100.

• Active Buyer Base: Expanded to more than 9,300.

• European GMV Growth: Over 150% organic growth year-over-year.

• First Quarter 2025 Revenue Outlook: Expected to range between $250 million and $265 million.

• Warning! GuruFocus has detected 2 Warning Sign with GCT.

Release Date: March 03, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• GigaCloud Technology Inc (NASDAQ:GCT) achieved a significant milestone by surpassing $1 billion in total revenue for the first time in its history.

• The company's marketplace GMV grew almost 70% year-over-year, reaching $1.3 billion, indicating strong demand and platform efficiency.

• GigaCloud Technology Inc (NASDAQ:GCT) maintained a strong balance sheet with zero debt and robust cash flow generation, positioning it well for future growth.

• The company was recognized as the number one spot on Forbes America's most successful Small Cap Companies 2025 list and added to the Russell 2000 Index.

• GigaCloud Technology Inc (NASDAQ:GCT) successfully integrated Noble House, achieving breakeven and positioning it for sustainable growth within the ecosystem.

Negative Points

• The macroeconomic environment remains challenging, with high interest rates and inflation impacting consumer discretionary spending, particularly in the furniture industry.

• Average buyer spend declined slightly, reflecting the onboarding of new buyers with lower trading volumes.

• Product margins declined due to elevated ground delivery fees during the holiday season and increased procurement costs.

• The company anticipates temporary revenue declines in Q2 2025 due to SKU rationalization and the integration of Noble House.

• GigaCloud Technology Inc (NASDAQ:GCT) faced headwinds from channel-specific softness, particularly from large e-commerce retail partners experiencing sales declines.