Core Viewpoint - GigaCloud Technology Inc has appointed Grant Thornton LLP as its new independent registered public accounting firm, replacing KPMG Huazhen LLP, to align its professional resources with its operational structure and strategic priorities [1][2][3]. Group 1: Company Announcement - The appointment of Grant Thornton LLP is subject to the completion of client acceptance and independence procedures [1]. - The decision reflects the company's commitment to strong governance and responds to shareholder feedback regarding the importance of having a U.S.-based auditor [3]. Group 2: Company Overview - GigaCloud Technology Inc specializes in global end-to-end B2B ecommerce technology solutions for large parcel merchandise, integrating discovery, payments, and logistics into its platform [4]. - The company's marketplace, launched in January 2019, initially focused on the global furniture market and has since expanded into home appliances and fitness equipment [4].

Core Viewpoint - GigaCloud Technology Inc reported record revenues and earnings per share (EPS) for the fourth quarter and fiscal year 2025, demonstrating the effectiveness of its growth strategy and operational resilience in a challenging macroeconomic environment [2][6]. Financial Highlights Fourth Quarter 2025 - Total revenues reached $362.7 million, a 22.7% increase year-over-year - Gross profit was $82.9 million, up 27.5% year-over-year, with a gross margin of 22.9% - Net income amounted to $38.5 million, reflecting a 24.2% year-over-year increase, with a net income margin of 10.6% - Diluted EPS increased by 36.8% year-over-year to $1.04 - Adjusted EBITDA rose 39.2% year-over-year to $43.0 million - Cash and cash equivalents totaled $416.9 million, a 37.5% increase year-over-year [7][19]. Full Year 2025 - Total revenues were $1,289.9 million, an 11.1% increase year-over-year - Gross profit reached $300.7 million, a 5.4% increase year-over-year, with a gross margin of 23.3% - Net income was $137.4 million, up 9.2% year-over-year, with a net income margin of 10.6% - Diluted EPS increased by 17.7% year-over-year to $3.59 - Adjusted EBITDA grew 3.8% year-over-year to $162.9 million [7][19]. Operational Highlights - GigaCloud Marketplace gross merchandise value (GMV) increased by 17.5% year-over-year to $1,576.8 million for the 12 months ended December 31, 2025 - GMV from third-party (3P) sellers rose 22.7% year-over-year to $851.2 million, representing 54.0% of total GMV - Active 3P sellers increased by 16.9% year-over-year to 1,299 - Active buyers grew by 29.9% year-over-year to 12,089, with an average spend per active buyer of $130,431 [7][19]. Business Outlook - The company anticipates total revenues between $330 million and $355 million for the first quarter of 2026, reflecting current market conditions [8]. Share Repurchase Program - A $111 million share repurchase program was approved, with approximately $33 million executed to date under this plan [9][10].

Group 1 - GigaCloud Technology Inc. will report its financial results for Q1 2025 on May 12, 2025, after market close [1] - A conference call to discuss the financial results will take place on the same day at 6:30 PM Eastern Time [1] - Participants are encouraged to pre-register for the conference call and join 15 minutes early [2] Group 2 - GigaCloud Technology Inc. specializes in global end-to-end B2B ecommerce technology solutions for large parcel merchandise [3] - The GigaCloud Marketplace integrates discovery, payments, and logistics tools into a single platform, facilitating cross-border transactions [3] - The company launched its marketplace in January 2019, initially focusing on the global furniture market and later expanding into home appliances and fitness equipment [3]