GigaCloud Technology Q4 Profit Climbs; Issues Q1 Revenue View

(RTTNews) - GigaCloud Technology Inc (GCT), a end-to-end B2B ecommerce solutions for large parcel merchandise, reported Friday that its fourth-quarter net income was $12.5 million, an increase of 34.2 percent from $9.3 million in 2021. Earnings per share were $0.31, up from prior year's $0.27.

Adjusted EBITDA was $15.2 million, an increase of 34.9 percent from $11.3 million a year ago.

Total revenues increased 20.5 percent to $125.6 million from prior year's $104.2 million. The increase was primarily due to an increase in service revenue from GigaCloud 3P and product revenue from both GigaCloud 1P and off-platform ecommerce.

Looking ahead for the first quarter, the company expects its total revenues to be between $123 million and $127 million.