Financial Performance - GigaCloud Technology's total revenues reached $323 million in Q2'25, a 4% year-over-year growth from Q2'24[16] - The company's gross profit was $77 million in Q2'25, representing a 1% year-over-year increase compared to Q2'24[19] - Net income for Q2'25 was $35 million, a 28% increase year-over-year[22] - Adjusted EBITDA for Q2'25 was $43 million, a 1% increase year-over-year[22] Marketplace Growth - GigaCloud Marketplace GMV (Gross Merchandise Value) reached $1.4 billion LTM (Last Twelve Months) ended June 30, 2025, a 31% year-over-year growth[23] - 3P (Third-Party) Seller GigaCloud Marketplace GMV was $758 million LTM ended June 30, 2025, a 33% year-over-year growth[23] - The number of active 3P sellers was 1,162 LTM ended June 30, 2025, a 25% year-over-year growth[24, 25] - The number of active buyers was 10,951 LTM ended June 30, 2025, a 51% year-over-year growth[26] - The average spend per active buyer was approximately $131,000 LTM ended June 30, 2025[26] Capital Allocation - GigaCloud raised $41 million in gross proceeds from its IPO[28] - The company acquired Noble House and Wonder for $87 million[28] - GigaCloud repurchased $2 million in Class A shares under the 2023 authorization and $69 million under the 2024 authorization[28]

Core Insights - GigaCloud Technology Inc. reported quarterly earnings of $0.91 per share, significantly exceeding the Zacks Consensus Estimate of $0.46 per share, marking an earnings surprise of +97.83% [1] - The company achieved revenues of $322.61 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 11.17% and showing an increase from $310.87 million year-over-year [2] - GigaCloud Technology has outperformed the S&P 500, with its shares rising approximately 18.3% since the beginning of the year compared to the S&P 500's gain of 7.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $298 million, while for the current fiscal year, the estimate is $2.79 on revenues of $1.16 billion [7] - The estimate revisions trend for GigaCloud Technology was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Technology Services industry, to which GigaCloud Technology belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable environment for stocks in this sector [8] - Another company in the same industry, Bit Digital, Inc., is expected to report a quarterly loss of $0.03 per share, reflecting a significant year-over-year decline [9]

[Financial and Operational Overview](index=1&type=section&id=Financial%20and%20Operational%20Overview) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) GigaCloud achieved record Q2 2025 revenue with strong growth in revenue and net income, despite a slight gross margin decline [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Highlights) Q2 2025 total revenues increased 3.8% to $322.6 million, with net income rising 28.1% to $34.6 million Q2 2025 Financial Performance vs. Q2 2024 | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenues | $322.6 million | $310.9 million (calculated) | +3.8% | | Gross Profit | $76.9 million | $76.4 million (calculated) | +0.7% | | Gross Margin | 23.9% | 24.6% | -70 bps | | Net Income | $34.6 million | $27.0 million (calculated) | +28.1% | | Net Income Margin | 10.7% | 8.7% | +200 bps | | Diluted EPS | $0.91 | $0.65 | +40.0% | | Adjusted EBITDA | $43.3 million | $42.7 million (calculated) | +1.4% | | Adjusted EPS - diluted | $1.14 | $1.03 | +10.7% | [Year-to-Date 2025 Financial Highlights](index=1&type=section&id=Year-to-Date%202025%20Financial%20Highlights) H1 2025 total revenues increased 5.8% to $594.5 million, with net income up 13.8% to $61.7 million H1 2025 Financial Performance vs. H1 2024 | Metric | H1 2025 | H1 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenues | $594.5 million | $561.9 million (calculated) | +5.8% | | Gross Profit | $140.7 million | $143.0 million (calculated) | -1.6% | | Gross Margin | 23.7% | 25.4% | -170 bps | | Net Income | $61.7 million | $54.2 million (calculated) | +13.8% | | Net Income Margin | 10.4% | 9.6% | +80 bps | | Diluted EPS | $1.58 | $1.32 | +19.7% | | Adjusted EBITDA | $76.5 million | $77.2 million (calculated) | -0.9% | | Adjusted EPS - diluted | $1.96 | $1.88 | +4.3% | [Operational Highlights](index=1&type=section&id=Operational%20Highlights) The company achieved strong marketplace growth, with GigaCloud Marketplace GMV increasing 31.0% year-over-year Marketplace Metrics (12 Months Ended June 30, 2025) | Metric | Value | YoY Change | | :--- | :--- | :--- | | GigaCloud Marketplace GMV | $1,438.5 million | +31.0% | | 3P Seller GMV | $757.5 million | +32.5% | | Active 3P Sellers | 1,162 | +24.9% | | Active Buyers | 10,951 | +50.9% | | Spend per Active Buyer | $131,359 | N/A | - 3P seller GMV constituted **52.7%** of the total GigaCloud Marketplace GMV for the 12 months ended June 30, 2025[12](index=12&type=chunk) [Management Commentary](index=3&type=section&id=Management%20Commentary) Management highlighted record quarterly revenue driven by the Noble House portfolio and strategic market expansion - CEO Larry Wu emphasized that record revenue was powered by the accelerating performance of the Noble House portfolio, which is becoming a significant margin contributor[8](index=8&type=chunk) - Strategic priorities include attracting new marketplace participants and expanding the European footprint to match the scale of the U.S. market[8](index=8&type=chunk) - CFO Erica Wei noted the company has repurchased approximately **4.3 million shares** for **$71 million** and invested around **$87 million** in acquisitions, highlighting a solid, debt-free balance sheet and strong operating cash flow[8](index=8&type=chunk) [Business Outlook](index=3&type=section&id=Business%20Outlook) The company forecasts Q3 2025 total revenues to be between $295 million and $310 million, based on current conditions - The Company expects total revenues for the third quarter of 2025 to be in the range of **$295 million** to **$310 million**[9](index=9&type=chunk) [Share Repurchase Program](index=3&type=section&id=Share%20Repurchase%20Program) The Board authorized a **$78 million** share repurchase program, with **$71 million** already executed as of August 7, 2025 - Total authorization for the share repurchase program is **$78 million**[10](index=10&type=chunk) - As of August 7, 2025, the company has repurchased approximately **4.3 million Class A ordinary shares** for a total of **$71 million**[10](index=10&type=chunk) - The program is set to run through August 28, 2025[10](index=10&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) [Unaudited Condensed Consolidated Balance Sheets](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$1.08 billion**, with liabilities decreasing and equity rising Balance Sheet Summary (in thousands of US dollars) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | **$577,260** | **$547,592** | | Cash and cash equivalents | $240,119 | $259,759 | | Inventories | $186,842 | $172,489 | | **Total Assets** | **$1,082,775** | **$1,070,475** | | **Total Current Liabilities** | **$273,891** | **$264,379** | | **Total Liabilities** | **$651,331** | **$665,258** | | **Total Shareholders' Equity** | **$431,444** | **$405,217** | [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) H1 2025 total revenues grew 5.8% to **$594.5 million**, with net income rising 13.8% to **$61.7 million** Income Statement Summary - Six Months Ended June 30 (in thousands of US dollars) | Account | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenues | $594,512 | $561,944 | +5.8% | | Gross Profit | $140,670 | $142,995 | -1.6% | | Total Operating Expenses | $76,504 | $80,730 | -5.2% | | Operating Income | $64,166 | $62,265 | +3.1% | | Net Income | $61,698 | $54,164 | +13.8% | | Diluted EPS | $1.58 | $1.32 | +19.7% | [Unaudited Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 operating cash flow increased to **$48.0 million**, with share repurchases leading to a net cash decrease Cash Flow Summary - Six Months Ended June 30 (in thousands of US dollars) | Category | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $48,042 | $34,417 | | Net cash used in investing activities | ($24,178) | ($30,403) | | Net cash used in financing activities | ($46,207) | ($1,149) | | **Net decrease in cash** | **($19,634)** | **$2,360** | | Cash at end of period | $240,810 | $186,528 | - The primary use of cash in financing activities was **$46.0 million** for repurchases of ordinary shares, compared to none in the same period of 2024[27](index=27&type=chunk) [Non-GAAP Financial Measures and Reconciliations](index=11&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) [Reconciliation of Adjusted EBITDA](index=11&type=section&id=Reconciliation%20of%20Adjusted%20EBITDA) Adjusted EBITDA for H1 2025 was **$76.5 million**, a slight decrease from the prior year, after key adjustments Adjusted EBITDA Reconciliation - Six Months Ended June 30 (in thousands of US dollars) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Net Income | $61,698 | $54,164 | | Add: Income tax expense | $11,761 | $8,190 | | Add: Depreciation and amortization | $4,189 | $4,145 | | Add: Share-based compensation | $4,253 | $14,147 | | Other adjustments | ($5,380) | ($3,405) | | **Adjusted EBITDA** | **$76,521** | **$77,241** | [Reconciliation of Adjusted EPS – Diluted](index=11&type=section&id=Reconciliation%20of%20Adjusted%20EPS%20%E2%80%93%20Diluted) Adjusted EPS for H1 2025 increased to **$1.96**, reconciled from diluted EPS by adding back per-share adjustments Adjusted EPS Reconciliation - Six Months Ended June 30 (in US dollars) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Net income per ordinary share – diluted | $1.58 | $1.32 | | Add: Per share adjustments | $0.38 | $0.56 | | **Adjusted EPS – diluted** | **$1.96** | **$1.88** | [Other Information](index=3&type=section&id=Other%20Information) [About GigaCloud Technology Inc](index=5&type=section&id=About%20GigaCloud%20Technology%20Inc) GigaCloud Technology Inc operates a global B2B e-commerce platform specializing in large parcel merchandise - The company's B2B platform integrates discovery, payments, and logistics for large parcel merchandise[16](index=16&type=chunk) - It connects manufacturers in Asia with resellers in the U.S., Asia, and Europe, offering a comprehensive solution from the manufacturer's warehouse to the end customer's doorstep[16](index=16&type=chunk) [Conference Call](index=3&type=section&id=Conference%20Call) The company will host a conference call on August 7, 2025, at 6:30 pm U.S. ET to discuss financial results - A conference call is scheduled for **6:30 pm U.S. Eastern Time** on August 7, 2025[12](index=12&type=chunk) - A live and archived webcast will be accessible on the GigaCloud investor relations website[15](index=15&type=chunk)

PART I FINANCIAL INFORMATION [Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) Presents GigaCloud Technology Inc.'s unaudited condensed consolidated financial statements as of June 30, 2025, with a retrospectively applied accounting change - In Q1 2025, the company voluntarily changed its accounting for last-mile fulfillment, reclassifying costs between service and product revenues for greater transparency[83](index=83&type=chunk)[84](index=84&type=chunk) [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to $1.083 billion, liabilities decreased to $651.3 million, and shareholders' equity rose to $431.4 million Condensed Consolidated Balance Sheet Data (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $240,119 | $259,759 | | Inventories | $186,842 | $172,489 | | Total current assets | $577,260 | $547,592 | | Total assets | $1,082,775 | $1,070,475 | | **Liabilities & Equity** | | | | Total current liabilities | $273,891 | $264,379 | | Total liabilities | $651,331 | $665,258 | | Total shareholders' equity | $431,444 | $405,217 | [Condensed Consolidated Statements of Comprehensive Income](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) In Q2 2025, total revenues grew 3.8% to $322.6 million and net income rose 28.1% to $34.6 million, with similar growth trends for the six-month period Financial Performance Summary (in thousands, except EPS) | Metric | Q2 2025 | Q2 2024 | YoY Change | H1 2025 | H1 2024 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $322,606 | $310,867 | +3.8% | $594,512 | $561,944 | +5.8% | | Gross Profit | $76,944 | $76,447 | +0.6% | $140,670 | $142,995 | -1.6% | | Operating Income | $35,843 | $27,448 | +30.6% | $64,166 | $62,265 | +3.1% | | Net Income | $34,552 | $26,969 | +28.1% | $61,698 | $54,164 | +13.9% | | Diluted EPS | $0.91 | $0.65 | +40.0% | $1.58 | $1.32 | +19.7% | [Condensed Consolidated Statements of Cash Flows](index=17&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 operating cash flow increased to $48.0 million, while investing and financing activities resulted in a $19.6 million net cash decrease Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $48,042 | $34,417 | | Net cash used in investing activities | ($24,178) | ($30,403) | | Net cash used in financing activities | ($46,207) | ($1,149) | | **Net (decrease) increase in cash** | **($19,634)** | **$2,360** | - The significant use of cash in financing activities in H1 2025 was driven by **$46.0 million** in ordinary share repurchases, compared to none in the same period of 2024[60](index=60&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes H1 2025 revenue growth to GigaCloud Marketplace expansion, with GMV up 31.0% and active buyers up 50.9%, while reduced G&A expenses boosted profitability [Key Financial and Operating Metrics](index=34&type=section&id=Key%20Financial%20and%20Operating%20Metrics) For the 12 months ended June 30, 2025, GigaCloud Marketplace GMV grew **31.0%** to **$1.44 billion**, driven by increased active sellers and buyers despite decreased spend per buyer Key Operating Metrics for 12 Months Ended June 30 (in millions, except for counts) | Metric | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | GigaCloud Marketplace GMV | $1,438.5M | $1,097.8M | +31.0% | | Active 3P sellers | 1,162 | 930 | +24.9% | | 3P seller GigaCloud Marketplace GMV | $757.5M | $571.9M | +32.5% | | Active buyers | 10,951 | 7,257 | +50.9% | | Spend per active buyer | $131,359 | $151,276 | -13.2% | [Results of Operations](index=47&type=section&id=Results%20of%20Operations) Q2 2025 revenues grew **3.8%** to **$322.6 million**, with a **50.6%** G&A expense reduction boosting operating income by **30.6%** and net income by **28.1%** Revenue Breakdown for Q2 (in thousands) | Revenue Stream | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Service revenues (3P) | $96,924 | $95,787 | +1.1% | | Product revenues (1P) | $94,209 | $92,033 | +2.4% | | Product revenues (Off-platform) | $131,176 | $122,825 | +6.8% | | **Total Revenues** | **$322,606** | **$310,867** | **+3.8%** | - General and Administrative expenses for Q2 2025 decreased by **50.6%** YoY to **$13.0 million**, driven by lower staff and rental costs from operational fulfillment centers[190](index=190&type=chunk) - Selling and Marketing expenses increased by **27.2%** YoY in Q2 2025, due to higher platform service fees and increased sales staff costs[188](index=188&type=chunk)[189](index=189&type=chunk) [Liquidity and Capital Resources](index=57&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company held **$240.1 million** in cash, maintained sufficient liquidity, and used **$46.0 million** for H1 2025 share repurchases - The company's share repurchase program is authorized up to **$78 million** through August 28, 2025, with **$8.7 million** remaining available as of June 30, 2025[106](index=106&type=chunk)[231](index=231&type=chunk)[258](index=258&type=chunk) - The company renewed its two-year, **$30 million** credit facility with Wells Fargo in July 2024, maturing June 30, 2026, with no funds drawn[222](index=222&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=61&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There have been no material changes in the company's market risk exposures since December 31, 2024 - There have been no material changes in the company's market risk exposures since December 31, 2024[247](index=247&type=chunk) [Controls and Procedures](index=61&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - Management concluded that as of June 30, 2025, the company's disclosure controls and procedures were effective[249](index=249&type=chunk) - No material changes occurred to the company's internal control over financial reporting during the quarter ended June 30, 2025[250](index=250&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=61&type=section&id=Item%201.%20Legal%20Proceedings) The company reached a preliminary settlement in a securities class action lawsuit on June 20, 2025, with immaterial financial impact due to insurance - The company reached a settlement agreement in the securities class action lawsuit (In Re GigaCloud Technology Inc Securities Litigation, No. 1:23-cv-10645-JMF)[253](index=253&type=chunk)[254](index=254&type=chunk) - The court granted preliminary approval of the settlement on June 20, 2025, with a final hearing on October 9, 2025, and the cost is not expected to materially impact finances[254](index=254&type=chunk) [Risk Factors](index=62&type=section&id=Item%201A.%20Risk%20Factors) The company's business faces significant risks from trade restrictions, including tariffs, which could disrupt cross-border logistics and materially harm results - The company identifies trade restrictions, including U.S. tariffs on China, as a significant risk that could materially and adversely affect its business by increasing costs and disrupting cross-border logistics[256](index=256&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=62&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's ongoing share repurchase program, which authorized **$78 million** and saw **$23.2 million** in Q2 2025 repurchases Share Repurchases for Quarter Ended June 30, 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | 1,261,657 | $12.68 | | May 2025 | 133,939 | $17.86 | | June 2025 | 272,987 | $17.96 | | **Total** | **1,668,583** | **-** | - The total authorized amount for the share repurchase program is **$78 million**, with approximately **$8.7 million** remaining available as of June 30, 2025[258](index=258&type=chunk)[261](index=261&type=chunk) [Other Information](index=63&type=section&id=Item%205.%20Other%20Information) On June 24, 2025, COO Mr. Xinyan Hao adopted a Rule 10b5-1 trading plan to sell up to **450,000** Class A ordinary shares - Mr. Xinyan Hao, Chief Operating Officer, adopted a Rule 10b5-1 trading plan on June 24, 2025, for the sale of up to **450,000** Class A ordinary shares[264](index=264&type=chunk) [Exhibits](index=64&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the quarterly report, including articles of association, CEO/CFO certifications, and Inline XBRL data

Core Insights - GigaCloud Technology Inc. (GCT) is expected to report a year-over-year decline in total revenues for Q2 2025, with estimates at $290.2 million, reflecting a 6.7% decrease [1][10] - Product revenues are projected to decline significantly by 20.4% to $179 million, attributed to normalization in order volumes and potential macroeconomic softness in cross-border e-commerce [1][2][10] - Service revenues are anticipated to grow by 30.6% to $111 million, which may partially offset the decline in product revenues [2][10] - Earnings per share are expected to decrease by 29.2% to 46 cents, linked to rising operational costs and lower revenue leverage [3] Revenue Breakdown - Total revenues for Q2 2025 are estimated at $290.2 million, down 6.7% year-over-year [1][10] - Product revenues are expected to be $179 million, indicating a 20.4% decline [1][10] - Service revenues are projected to reach $111 million, reflecting a growth of 30.6% [2][10] Earnings Outlook - The Zacks Consensus Estimate for earnings is set at 46 cents per share, a decrease of 29.2% from the previous year [3] - GCT currently has an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell), indicating a low probability of an earnings beat [4][5]

Core Viewpoint - GigaCloud Technology Inc. (NASDAQ: GCT) is anticipated to report its Q2 earnings on August 6, after market closure, prompting analysis of expected outcomes and investment strategies [1] Company Overview - GigaCloud Technology Inc. is positioned as a long-term investment opportunity, with a focus on a 5-10 year investment horizon [1] - The investment strategy emphasizes a diversified portfolio that includes growth, value, and dividend-paying stocks, with a particular inclination towards value stocks [1] Investment Strategy - The company employs a straightforward investment approach, aiming to maintain simplicity in portfolio management [1] - Options trading is occasionally utilized as part of the investment strategy [1]

Core Points - The United States District Court for the Southern District of New York has approved a proposed class action settlement for purchasers of Class A ordinary shares of GigaCloud Technology Inc during the period from August 18, 2022, to May 22, 2024, amounting to $2,750,000 [1][2]. Settlement Details - The proposed settlement is intended to benefit all persons and entities who purchased or acquired Class A ordinary shares of GigaCloud during the specified Class Period and were allegedly damaged [1][2]. - A remote hearing is scheduled for October 9, 2025, to determine the fairness and adequacy of the proposed settlement, the dismissal of the action, the allocation plan for the settlement proceeds, and the approval of attorneys' fees and expenses [3]. Claim Process - Settlement Class Members must submit a Claim Form by October 6, 2025, to be eligible for a distribution from the Net Settlement Fund [6]. - Members wishing to exclude themselves from the Settlement Class must submit a written request by September 18, 2025, to avoid being bound by the court's judgments [7]. Objection Process - Any objections to the proposed settlement or related applications must be filed with the Court by September 18, 2025 [8].

Core Insights - GigaCloud Technology Inc. is participating in the Las Vegas Market from July 27 to 31, showcasing its B2B ecommerce solutions for large parcel merchandise [1] - The company will present its signature product lines alongside partner products, emphasizing a modern, consumer-driven aesthetic in furniture [2] - GigaCloud collaborates with Purple Innovation, utilizing the Supplier Fulfilled Retailing model to enhance fulfillment operations and expand buyer reach [3] - The company is expanding its offerings in sleep solutions, featuring new products from key partners and aiming to simplify cross-border commerce [4] Company Overview - GigaCloud Technology Inc. specializes in end-to-end B2B ecommerce technology solutions, connecting manufacturers in Asia with resellers in the U.S., Asia, and Europe [8] - The GigaCloud Marketplace integrates discovery, payments, and logistics tools, facilitating efficient cross-border transactions [8] Event Details - The Las Vegas Market is a major home furnishings and gift market, featuring 3,500 brands and attracting buyers from all 50 states and over 80 countries [5]

Group 1 - GigaCloud Technology Inc. closed at $20.26, reflecting a -1.12% change from the previous day, underperforming the S&P 500's daily loss of 0.4% [1] - Over the past month, GigaCloud's shares gained 11.18%, outperforming the Business Services sector's gain of 0.01% and the S&P 500's gain of 4.97% [1] Group 2 - The upcoming earnings report for GigaCloud is expected to show an EPS of $0.46, a decrease of 29.23% year-over-year, with revenue anticipated at $290.2 million, down 6.65% from the same quarter last year [2] - For the full year, analysts project earnings of $2.79 per share and revenue of $1.16 billion, indicating changes of -8.52% and 0% respectively from the previous year [3] Group 3 - Recent changes in analyst estimates for GigaCloud indicate a positive outlook on the company's business operations and profit generation capabilities [4] - The Zacks Rank system, which assesses estimate revisions, currently ranks GigaCloud at 4 (Sell), with the consensus EPS estimate having decreased by 2.11% in the past month [6] Group 4 - GigaCloud's Forward P/E ratio stands at 7.34, significantly lower than the industry average Forward P/E of 20.66, suggesting a valuation discount [7] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 61, placing it in the top 25% of over 250 industries [7]

BaaS Overview - BaaS (Branding-as-a-Service) is designed to enhance the competitiveness of furniture suppliers by providing access to the Christopher Knight Home brand on the GigaCloud B2B Marketplace[13] - This service allows the brand to introduce third-party products under its label, expanding market presence in high-potential categories[16] - BaaS empowers qualified suppliers to leverage an industry-leading furniture brand, connecting them with customers more effectively in a wider market[12] Challenges Addressed - BaaS addresses challenges such as low purchase frequency, slow brand value accumulation, and difficulty for furniture suppliers to compete in a fragmented market[11] BaaS Structure & Support - The GigaCloud Brand Center provides strategic guidance, access to an established furniture brand, and quality control standards[19] - The GigaCloud Quality Center upholds rigorous quality standards through inspections and quality control processes[20] - BaaS participants can leverage the B2B Marketplace, fulfillment capabilities, and established customer base to accelerate growth and expand market reach[27] Benefits for Sellers - BaaS offers increased competitiveness, streamlined supply chain efficiency, and increased brand awareness for sellers[31] - Sellers gain access to brick-and-mortar opportunities through Wondersign Kiosk[31] Benefits for Buyers - Buyers benefit from the credibility and trust of an established brand, a broader product selection, and assured quality control standards[33] - Buyers also benefit from SFR (Supplier Fulfilled Retailing) model efficiencies and on-trend furniture design[33]