GCT GigaCloud Technology Inc

Overview and Growth

In fiscal 2025, GigaCloud Technology Inc recorded $1.29B of revenue, net income of $137.37M, and an operating cash inflow of $190.66M. The $1.29B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $1.16B in fiscal 2024, revenue recorded a 11.1% year-over-year increase. On a per-share basis, diluted EPS was $3.59, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $3.05 in fiscal 2024, the current result was 17.7% higher. Revenue equaled 1.07x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $300.67M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 23.3% of revenue, showing how much of the top line remained after direct costs. Operating income was $144.98M, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 11.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $137.37M, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 10.6%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $161.19M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 12.5% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $23.82M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 14.8%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 28.3%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 11.4%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $1.20B, supported by $716.66M of liabilities and $485.80M of shareholder equity. At period end, current assets of $690.66M compared with current liabilities of $342.25M, defining the company’s short-term resource position. Current assets covered current liabilities by 2.02x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $379.78M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 111.0% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Liabilities represented 59.6% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 31.6% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 12.3% higher than fiscal 2024 assets of $1.07B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

The company reported $190.66M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.39x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $7.87M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 4.1% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $182.79M, leaving a positive amount after capital expenditures. Free cash flow represented 14.2% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 15.2%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.