GigaCloud Technology reported second-quarter revenue of $411.6 million, up 27.6% year over year, with net income rising 22.3% to $42.3 million and diluted earnings per share of $1.16. Gross margin expanded to 25.6% from 23.9%, while over the twelve months ended June 30 active buyers increased 17.1% to 12,823 and third-party merchandise volume grew 27% to $962.3 million, accounting for 55.2% of marketplace volume. In August the company replaced its previous buyback authorization with a new $120 million, three-year program. The results drew attention after Mad Money host Jim Cramer, answering a caller's query on October 7, called GigaCloud one of the most speculative stocks on earth, though the shares trade at roughly 10.9x forward earnings versus 31.3x for Wayfair. Management guided third-quarter revenue to $375 million to $400 million, below the second-quarter total, and the company flagged longer customs-clearance times and U.S. port disruptions, with short interest at 15.12% of the public float and 24 hedge funds holding the stock in Q2 versus 20 in Q1.
GigaCloud Technology Inc Class A Ordinary SharesQ2 revenue rose 27.6% to $411.6M with net income up 22.3% and EPS of $1.16, plus a new $120M buyback program.
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