GigaCloud Technology Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
GCT$61.77+4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| Year ended December 31, | ||||||
|---|---|---|---|---|---|---|
| Note · 2024 · 2023 · 2022 | ||||||
| Revenues · 2(q), 2(ae), 17 | ||||||
| Service revenues | $350,273 | $199,184 | $140,628 | |||
| Product revenues | 810,769 | 504,647 | 349,443 | |||
| Total revenues | 1,161,042 | 703,831 | 490,071 | |||
| Cost of revenues | ||||||
| Services | 284,951 | 161,215 | 120,102 | |||
| Products | 590,855 | 353,983 | 286,855 | |||
| Total cost of revenues | 875,806 | 515,198 | 406,957 | |||
| Gross profit | 285,236 | 188,633 | 83,114 | |||
| Operating expenses | ||||||
| Selling and marketing expenses | 2(s) | 70,686 | 41,386 | 24,038 | ||
| General and administrative expenses | 2(u) | 73,944 | 30,008 | 22,627 | ||
| Research and development expenses | 2(v) | 9,791 | 3,925 | 1,426 | ||
| Losses on disposal of property and equipment | 193 | 3,236 | — | |||
| Total operating expenses | 154,614 | 78,555 | 48,091 | |||
| Operating income | 130,622 | 110,078 | 35,023 | |||
| Interest expense | (256) | (1,240) | (568) | |||
| Interest income | 9,405 | 3,304 | 472 | |||
| Foreign currency exchange gains (losses), net | 2(ab) | (1,233) | 2,086 | (4,854) | ||
| Government grants | 2(w) | 37 | 911 | 1,085 | ||
| Others, net | 2,039 | (144) | 6 | |||
| Income before income taxes | 140,614 | 114,995 | 31,164 | |||
| Income tax expense | 2(z), 15 | (14,806) | (20,887) | (7,192) | ||
| Net income | $125,808 | $94,108 | $23,972 | |||
| Accretion of Redeemable Convertible Preferred Shares | — | — | (941) | |||
| Net income attributable to ordinary shareholders | 125,808 | 94,108 | 23,031 | |||
| Foreign currency translation adjustment, net of income taxes of $nil | (1,266) | (278) | 969 | |||
| Net unrealized gains on available-for-sale investments | 7 | — | — | |||
| Intra-entity foreign currency transactions gain (loss) | (2,565) | — | — | |||
| Release of foreign currency translation reserve related to liquidation of subsidiaries | (838) | — | — | |||
| Total other comprehensive income (loss) | (4,662) | (278) | 969 | |||
| Comprehensive Income | $121,146 | $93,830 | $24,941 | |||
| Net income per ordinary share | ||||||
| —Basic | 2(ac), 16 | $3.06 | $2.31 | $0.60 | ||
| —Diluted | 2(ac), 16 | $3.05 | $2.30 | $0.60 | ||
| Weighted average number of ordinary shares outstanding used in computing net income per ordinary share | ||||||
| —Basic | 16 | 41,079,672 | 40,788,448 | 24,412,314 | ||
| —Diluted | 16 | 41,201,026 | 40,922,590 | 24,412,314 | ||
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