NASDAQ$GCT
GigaCloud Technology Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
GigaCloud's revenue more than doubled, reaching a record high, with significant growth in adjusted EBITDA due to enhanced operational efficiency and profitability.
GigaCloud Technology Inc. reported strong financial results for the second quarter ended June 30, 2024, with total revenues increasing by 103.1% year-over-year to $310.9 million. Net income grew by 46.7% to $27.0 million, and adjusted EBITDA increased by 71.5% to $42.7 million.
- Total revenues increased by 103.1% year-over-year, reaching $310.9 million.
- Gross profit increased by 89.1% year-over-year, totaling $76.4 million.
- Net income grew by 46.7% year-over-year, amounting to $27.0 million.
- Adjusted EBITDA increased by 71.5% year-over-year, reaching $42.7 million.
Headline financials
Revenue & EPS history
GigaCloud · Revenue · Quarterly
$311M
Revenue by segment
GigaCloud · $178M total across 2 segments · Q3 2023
- Product Revenues$127M—71.1%
- Service Revenues$51.5M—28.9%
Forward guidance
The Company expects its total revenues to be between $266 million and $282 million in the third quarter of 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2024
+3.9%
Avg return
Earnings day
+2.6%
Avg return
5 days after
+6.8%
Avg return
30 days after
53%
9 / 17 earnings
Positive
+32.8%
Q4 2025
Best reaction
-28.1%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.9% | -15.0% | -30.0% | |
| Q4 2025 | +32.8% | +20.6% | +17.8% | |
| Q3 2025 | +30.0% | +26.2% | +57.3% | |
| Q1 2025 | +11.5% | +18.7% | +16.5% | |
| Q4 2024 | -5.4% | -7.3% | -13.0% | |
| Q3 2024 | +28.4% | +7.7% | +2.0% | |
| Q2 2024 | -6.6% | -9.3% | -25.4% | |
| Q1 2024 | -4.6% | -5.5% | -21.8% | |
| Q4 2023 | -2.2% | -17.5% | -9.3% | |
| Q3 2023 | +21.0% | +37.9% | +87.6% | |
| Q2 2023 | +12.3% | +11.8% | +15.6% | |
| Q1 2023 | +2.3% | +14.0% | +37.6% | |
| Q4 2020 | +0.8% | +5.1% | +36.1% | |
| Q4 2021 | +0.8% | +5.1% | +36.1% | |
| Q4 2022 | -14.4% | -13.6% | -5.6% | |
| Q3 2022 | -7.8% | -1.5% | -28.2% | |
| Q2 2022 | -28.1% | -33.1% | -57.6% | |
| Q1 2022 | — | — | — | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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