GigaCloud Technology Board Authorizes Share Repurchase Program

(RTTNews) - GigaCloud Technology (GCT) announced that its Board has authorized a new share repurchase program to repurchase up to $111 million of its class A ordinary shares over the next three years. The program goes into effect on August 17, 2025 while the previous program is terminated. The company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

"The program is supported by our strong balance sheet, including zero debt and consistent positive operating cashflows, said Erica Wei, Chief Financial Officer.