United States

- Ocean Transport

- Warehousing

- Last-mile Delivery

- Packaging

- Others

Japan

Germany

Hong Kong

Others

Total Revenue

1f86ddd06e7466ab58a571637ea60d9b2bfe6b39c37eed1e049bc3c6a8f0d213

Current Assets (USD, thousands)

Cash and Cash Equivalents (USD, thousands)

Accounts Receivable (USD, thousands)

Inventory (USD, thousands)

Non-Current Assets (USD, thousands)

Property, Plant, and Equipment (PP&E) (USD, thousands)

Goodwill (USD, thousands)

Intangible Assets (USD, thousands)

Current Liabilities (USD, thousands)

Accounts Payable (USD, thousands)

Short-term Debt (USD, thousands)

Accrued Expenses (USD, thousands)

Non-Current Liabilities (USD, thousands)

Long-term Debt (USD, thousands)

Lease Liabilities (USD, thousands)

Deferred Tax Liabilities (USD, thousands)

Shareholders' Equity (USD, thousands)

Retained Earnings (USD, thousands)

Common Stock (USD, thousands)

Additional Paid-in Capital (USD, thousands)

b7199988d7dee362d78b31e909f4dc1420701ca4dee64b01d7a7ae820c84a535

Restricted Cash (USD, thousands)

Investments (USD, thousands)

Accounts Receivable, Net (USD, thousands)

Inventories (USD, thousands)

Prepayments and Other Current Assets (USD, thousands)

Total Current Assets (USD, thousands)

Operating Lease Right-of-Use Assets (USD, thousands)

Property and Equipment, Net (USD, thousands)

Intangible Assets, Net (USD, thousands)

Deferred Tax Assets (USD, thousands)

Other Non-Current Assets (USD, thousands)

Total Non-Current Assets (USD, thousands)

Total Assets (USD, thousands)

Contract Liabilities (USD, thousands)

Current Operating Lease Liabilities (USD, thousands)

Income Tax Payable (USD, thousands)

Accrued Expenses and Other Current Liabilities (USD, thousands)

Total Current Liabilities (USD, thousands)

Operating Lease Liabilities, Non-Current (USD, thousands)

Finance Lease Obligations, Non-Current (USD, thousands)

Non-Current Income Tax Payable (USD, thousands)

Total Non-Current Liabilities (USD, thousands)

Total Liabilities (USD, thousands)

Treasury Shares, at cost (USD, thousands)

Class A Ordinary Shares (USD, thousands)

Class B Ordinary Shares (USD, thousands)

Accumulated Other Comprehensive Income (Loss) (USD, thousands)

Total Shareholders’ Equity (USD, thousands)

Total Liabilities and Shareholders’ Equity (USD, thousands)

Cash (USD, thousands)

Current Portion of Long-Term Borrowings (USD, thousands)

Operating lease right-of-use assets (USD, thousands)

Property and equipment, net (USD, thousands)

Intangible assets, net (USD, thousands)

Other non-current assets (USD, thousands)

Operating lease liabilities, non-current (USD, thousands)

Non-current income tax payable (USD, thousands)

Accounts receivable, net (USD, thousands)

Prepayments and other current assets (USD, thousands)

Accounts payable (including accounts payable of VIEs without recourse to the Company) (USD, thousands)

Contract liabilities (including contract liabilities of VIEs without recourse to the Company) (USD, thousands)

Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company) (USD, thousands)

Income tax payable (including income tax payable of VIEs without recourse to the Company) (USD, thousands)

Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company) (USD, thousands)

Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company) (USD, thousands)

Finance lease obligations, non-current (USD, thousands)

Treasury shares, at cost (USD, thousands)

Subscription receivable from ordinary shares (USD, thousands)

Class A ordinary shares (USD, thousands)

Class B ordinary shares (USD, thousands)

Additional paid-in capital (USD, thousands)

Accumulated other comprehensive income (USD, thousands)

Retained earnings (USD, thousands)

e18e6815ffeb5e5bf79182b05ed6f4f657bcd4a75fdd331b97174947aaa5fbb5

The significant increase in **Cash and Cash Equivalents** in Q3 2024—from **$183,283 thousand** as of December 31, 2023, to **$217,581 thousand**—is attributed to several factors. These include **net income growth** (rising from **$24,202 thousand** in Q3 2023 to **$40,685 thousand** in Q3 2024), **higher interest income** (which increased to **$2,703 thousand** in Q3 2024), improved **operating performance** with higher gross profit and operating income, and a shift in **investments and financing activities** as demonstrated by new investments of **$42,170 thousand** in Q3 2024. However, the documents do not provide a detailed cash flow statement to confirm the exact sources and uses of cash.  **[0001857816-24-000213_gct-20240930.htm:6]** **[0001857816-24-000213_gct-20240930.htm:36]** 

Why did Cash and Cash Equivalents jump significantly in Q3 2024?

The **steep increase** in **Investments** in Q3 2024 was driven by the company's proactive purchase of **time deposits** and **U.S. treasury securities**. These transactions, which resulted in investments classified as **available-for-sale securities** expected to mature within one year, significantly boosted the recorded value from **$0** at the end of 2023 to **$42,170 thousand** in Q3 2024.  **[0001857816-24-000210_a2024-11x07x8xkex991earnin.htm:4]** **[0001857816-24-000213_gct-20240930.htm:13]** 

What drove the steep increase in Investments in Q3 2024?

The substantial rise in Total Assets by Q3 2024 resulted from increased current and non-current assets. **Current asset** growth included higher **Cash and Cash Equivalents** (from **$183,283 thousand** to **$217,581 thousand**), new **Investments** (**$0** to **$42,170 thousand**), significantly increased **Inventories** (from **$132,247 thousand** to **$183,322 thousand**), and a rise in **Accounts Receivable, Net** (from **$58,876 thousand** to **$62,549 thousand**).  **[0001857816-24-000210_a2024-11x07x8xkex991earnin.htm:4]** **[0001857816-24-000213_gct-20240930.htm:5]**  Additionally, **Non-Current Assets** saw gains with higher **Operating Lease Right-of-Use Assets** (from **$398,922 thousand** to **$476,027 thousand**), an increase in **Deferred Tax Assets** (from **$1,440 thousand** to **$8,325 thousand**), and more **Other Non-Current Assets** (from **$8,173 thousand** to **$12,934 thousand**).  **[0001857816-24-000210_a2024-11x07x8xkex991earnin.htm:4]** **[0001857816-24-000213_gct-20240930.htm:14]** 

What factors contributed to the substantial rise in Total Assets by Q3 2024?

The documents do not provide a detailed explanation for the decline in Total Liabilities from **696,604 thousand** in Q2 2024 to **672,956 thousand** in Q3 2024. They do outline the factors that increased Total Liabilities from December 31, 2023 to September 30, 2024—such as rising operating lease liabilities, accrued expenses, and tax payables—but there is no specific discussion of why there was a decrease between these two quarters.  **[0001857816-24-000182_gct-20240630.htm:5]** **[0001857816-24-000213_gct-20240930.htm:5]** **[0001857816-24-000210_a2024-11x07x8xkex991earnin.htm:4]** 

Why did Total Liabilities decline in Q3 2024 after a previous upward trend?

a6ba38ec77a89328f6c1e9bfce9f68c96743091364ba4e8ec6d1368e2e55ba74

Service Revenues

- Platform Commission

- Ocean Transportation

Product Revenues

- GigaCloud 1P

- Off-platform Ecommerce

de02e2e208bb5c1a5ad03af55bfbcff928c27134620c7581c56b3761a6e5ded2

Total Revenue (USD, thousands)

Cost of Goods Sold (COGS) (USD, thousands)

SG&A (USD, thousands)

Research and Development (R&D) (USD, thousands)

Depreciation and Amortization (D&A) (USD, thousands)

Interest Expense (USD, thousands)

Operating Income (EBIT) (USD, thousands)

Net Income (USD, thousands)

EPS - Basic (USD)

EPS - Diluted (USD)

a976171decd7d79d918906914c0f603ca8df109a76adbe10a8a0f4defdcd63f8

Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

Changes in Working Capital (USD, thousands)

Capital Expenditures (CapEx) (USD, thousands)

Proceeds from / Repayments of Debt (USD, thousands)

Share Repurchases (USD, thousands)

Dividend Payments (USD, thousands)

Net Change in Cash (USD, thousands)

2f9048cc144c5ba67bc45db99fd97ea0e4e1b71a81ce0ab208c2a6a539156f11

GigaCloud Technology Inc (GCT)

Financials