GigaCloud reports Q4 EPS 87c vs. 31c last year

Reports Q revenues $244.7M vs. $125.6M last year. GigaCloud Marketplace GMV was $794.4 million in the 12 months ended December 31, 2023, an increase of 53.3% from $518.2 million in the 12 months ended December 31, 2022. “The fourth quarter saw our highest quarterly revenue in the company history, up almost 95% year-over-year, representing an inflection point in the size and scale of GigaCloud,” said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. “The integration of Noble House and Wondersign marks as a significant step forward in our global expansion. This move elevates our presence across diverse geographies, broadens our product portfolio with premium SKUs, integrates innovative technology, and expands our business network. Together, these efforts, coupled with our organic growth, propel us towards a new era of industry leadership. We combine our supplier fulfilled retailing business model, which streamlines every step of the supply chain journey, with ongoing research and development focused on leveraging advanced algorithms to further optimize our robust cloud infrastructure. This strategic combination empowers us to deliver an exceptional B2B selling and sourcing experience for all marketplace participants. Moving forward, we are confident in our ability to create a sustainable, more efficient global supply chain for large parcel merchandise.”