Quarterly ResultMay 7, 2026, 06:13 AM
GigaCloud Q1 Revenue +32% to $359.5M; Net Income +40%; Acquires New Classic
AI Summary
GigaCloud Technology Inc. reported strong first-quarter 2026 results, with total revenues increasing 32% year-over-year to $359.5 million and net income rising 40% to $38.1 million. Diluted EPS grew to $1.04 from $0.68 in the prior year. A significant event during the quarter was the acquisition of New Classic Home Furnishings, Inc. in January 2026 for $18.7 million, expanding its presence in the U.S. home furnishings market. The company also continued its share repurchase program.
Key Highlights
- Acquired New Classic Home Furnishings in Jan 2026 for $18.7M.
- Total revenues rose 32% to $359.5M in Q1 2026, from $271.9M in Q1 2025.
- Net income increased 40% to $38.1M in Q1 2026, from $27.1M in Q1 2025.
- Diluted EPS grew to $1.04 in Q1 2026, up from $0.68 in Q1 2025.
- Service revenues were $116.5M; product revenues were $242.9M in Q1 2026.
- Net cash used in operations was $21.7M in Q1 2026 vs. $9.4M provided in Q1 2025.
- Repurchased $12.3 million of ordinary shares in Q1 2026.
- Total assets reached $1.23 billion as of March 31, 2026.