# GigaCloud Technology Inc. (GCT)

> Source: Nexqual · https://nexqual.com/GCT · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, GigaCloud Technology Inc. (GCT), nexqual.com/GCT" · informational, not investment advice.

**Price:** USD 60.62 (-0.02% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 60.63 · day 59.64–62.03 · 52w 25.39–62.03 · market cap $2.16B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.47B, net income $156M (10.6% margin), free cash flow $158M (SEC filings).
- Valuation: P/E 13.9x (avg 8.3x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 61.33 (range 53–73).
- Total return with dividends: 1Y +121.5% vs S&P 500 +14.8%; 5Y +26.3% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 1.28, revenue estimate $389M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: GCT paid no cash dividend in the last five years.
- Short interest: 12.65% of float (as of 2026-10-15), 3.9 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $414M | $490M | $704M | $1.16B | $1.29B | $1.47B |
| Gross profit | $89.6M | $83.1M | $189M | $285M | $301M | — |
| Operating income | $39.4M | $35.0M | $110M | $131M | $145M | $171M |
| Net income | $29.3M | $24.0M | $94.1M | $126M | $137M | $156M |
| EPS (diluted) | $0.88 | $0.60 | $2.30 | $3.05 | $3.59 | — |
| Free cash flow | $6.7M | $48.9M | $129M | $143M | $183M | $158M |
| Gross margin | 21.6% | 17.0% | 26.8% | 24.6% | 23.3% | — |
| Operating margin | 9.5% | 7.1% | 15.6% | 11.3% | 11.2% | 11.6% |
| Net margin | 7.1% | 4.9% | 13.4% | 10.8% | 10.6% | 10.6% |
| Revenue growth | — | +18.3% | +43.6% | +65.0% | +11.1% | — |
| Cash + short-term investments | $63.9M | $144M | $183M | $302M | $416M | — |
| Total debt | — | $207K | $0K | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.9x · P/S 1.5x · P/FCF 13.7x · P/B 4.0x · FCF yield 7.28% · Earnings yield 7.21%
P/E at fiscal year-ends: Dec 2025 10.9x, Dec 2024 6.1x, Dec 2023 8.0x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 61.33 (low 53, high 73).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2022-08-15) |
|---|---|---|
| Total return | +121.5% | +26.3% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +122.6% | +5.7% |
| Volatility (annualized) | 66.9% | 95.6% |
| Max drawdown | -39.1% (Apr 2026→Jun 2026) | -90.3% (Aug 2022→Oct 2022) |

## Dividends
GCT paid no cash dividend in the last five years.

## Short interest
2,918,796 shares sold short, 12.65% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 3,488,446 shares (-16.3%). Days to cover: 3.9 (short shares ÷ average daily volume).

## Peers (Software - Infrastructure)
DLO (DLocal Limited) USD 13.65 -0.87% · BLSH (Bullish) USD 28.47 -0.90% · CORZ (Core Scientific, Inc.) USD 14.43 -3.80% · RELY (Remitly Global, Inc.) USD 24.64 +1.52% · BB (BlackBerry Limited) USD 9.19 -2.23% · TENB (Tenable Holdings, Inc.) USD 51.78 +6.28%

## More
Full page: https://nexqual.com/GCT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GCT's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1857816/000185781626000018/gct-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Walmart (WMT) | "In addition to facilitating transactions in our GigaCloud Marketplace, we also procure highly rated products directly from manufacturers and sell them directly to and through third-party ecommerce websites such as Wayfai…" |
| Customer | Home Depot (HD) | "In addition to facilitating transactions in our GigaCloud Marketplace, we also procure highly rated products directly from manufacturers and sell them directly to and through third-party ecommerce websites such as Wayfai…" |
| Customer | Amazon (AMZN) | "In addition to facilitating transactions in our GigaCloud Marketplace, we also procure highly rated products directly from manufacturers and sell them directly to and through third-party ecommerce websites such as Wayfai…" |
| Customer | FedEx (FDX) | "On average, we are able to deliver products to end customers within one week of their order and at a fixed rate that is cheaper than standard rates from FedEx and UPS." |
| Customer | UPS (UPS) | "On average, we are able to deliver products to end customers within one week of their order and at a fixed rate that is cheaper than standard rates from FedEx and UPS." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product revenues | $290.8M | 70.6% | +28.9% |
| Service revenues | $120.8M | 29.4% | +24.7% |
| — Last-mile delivery service (part of Service revenues) | $70.0M | 17.0% | +29.8% |
| — Warehousing service (part of Service revenues) | $16.0M | 3.9% | +19.0% |
| — Ocean transportation service (part of Service revenues) | $10.7M | 2.6% | +28.5% |
| — Packaging service (part of Service revenues) | $9.3M | 2.3% | +12.3% |
| — Platform commission (part of Service revenues) | $6.2M | 1.5% | +29.9% |
| — Others (part of Service revenues) | $5.4M | 1.3% | +10.9% |
| — Drayage service (part of Service revenues) | $3.1M | 0.8% | -3.2% |
| Total revenue | $411.6M | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "The Company expects its total revenues to be betwe en $375 million and $400 million in t he third quarter of 2026."

Analysts expect $389.4M for the current quarter, +0.5% vs the guidance midpoint $387.5M. Source: https://www.sec.gov/Archives/edgar/data/1857816/000185781626000072/gct-2026q2earningsrelease.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.28 | $1.11 | +14.8% | $389.4M | 1 |
| Next quarter (ends 2026-12-31) | $1.44 | $1.26 | +13.8% | $406.0M | 1 |
| Current fiscal year (ends 2026-12-31) | $4.92 | $4.54 | +8.5% | $1.57B | 1 |
| Next fiscal year (ends 2027-12-31) | $5.82 | $4.93 | +18.1% | $1.70B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±15.2%; last 8 reports averaged ±20.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 77.7% | ±15.2% |
| 2026-12-18 | 50 | 72.7% | ±21.3% |
| 2027-01-15 | 78 | 62.2% | ±22.8% |
| 2027-04-16 | 169 | 65.7% | ±35.1% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | $1.16 | $0.85 | Beat +36.5% | +15.2% |
| May 7, 2026 | Quarter ended Mar 31, 2026 | $1.24 | $0.97 | Beat +27.8% | -10.7% |
| Feb 26, 2026 | Quarter ended Dec 31, 2025 | $1.16 | $0.85 | Beat +36.5% | +25.6% |
| Nov 6, 2025 | Quarter ended Sep 30, 2025 | $1.16 | $0.74 | Beat +56.8% | +20.9% |
| Aug 7, 2025 | — | — | — | — | +31.9% |
| May 12, 2025 | — | — | — | — | +22.1% |
| Mar 3, 2025 | — | — | — | — | -8.3% |
| Nov 7, 2024 | — | — | — | — | +28.4% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-10 | 8-K | Other material event — “As previously disclosed on May 11, 2026, an affiliated entity of Mr. Lei Wu, Chief Executive Officer of GigaCloud Technology Inc (the "Company"), filed a notice on Form 144 indicating its intent to enter into a prepaid variable forward transaction with respect to up to 700,000 Class A ordinary shares of the Company (the "PVFC Shares"). The previously disclosed PVFC was expected to be executed no later than June 29, 2026, and was expected to have a tenor of approximately three years. Since such disclosure and…” | https://www.sec.gov/Archives/edgar/data/1857816/000185781626000077/0001857816-26-000077-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1857816/000185781626000074/0001857816-26-000074-index.htm |
| 2026-08-06 | 8-K | Quarterly results; Other material event — “On August 5, 2026, the Board approved a new share repurchase program which authorized the repurchase of its Class A ordinary share up to $120.0 million, effective August 6, 2026 for three years (the "2026 Program"). The share repurchase program previously authorized in 2025 (the "2025 Program") was terminated effective immediately. Under the share repurchase program, the Company may purchase its ordinary shares through various means, including open market transactions, privately negotiated transactions, block…” | https://www.sec.gov/Archives/edgar/data/1857816/000185781626000072/0001857816-26-000072-index.htm |
| 2026-07-20 | Schedule 13G/A | Lei Wu, Shan Lao Hu Tong LLC: 20.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1857816/000196232926000055/0001962329-26-000055-index.htm |
| 2026-07-13 | 8-K | Shareholder vote results | https://www.sec.gov/Archives/edgar/data/1857816/000185781626000068/0001857816-26-000068-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.