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.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $125,808 | $94,108 | $23,972 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 8,524 | 2,873 | 1,386 |
| Share-based compensation | 16,825 | 2,503 | 9,196 |
| Operating lease | 29,282 | 2,485 | 2,389 |
| Changes in accounts receivables, net | (234) | (5,058) | (9,161) |
| Changes in inventories | (46,875) | (16,514) | 2,785 |
| Changes in prepayments and other assets | (1,665) | (9,249) | (1,384) |
| Changes in accounts payable, accrued expenses and other current liabilities | 38,188 | 46,258 | 20,975 |
| Changes in contract liabilities | (992) | 1,473 | (1,689) |
| Changes in income tax payable | (1,023) | 10,977 | (1,530) |
| Changes in deferred income taxes | (11,462) | 398 | 183 |
| Other operating activities | 1,702 | 3,198 | 2,534 |
| Net cash provided by operating activities | 158,078 | 133,452 | 49,656 |
| Cash flows from investing activities: | |||
| Cash paid for purchase of property and equipment | (15,536) | (4,380) | (709) |
| Cash received from disposal of property and equipment | 2,103 | 462 | — |
| Acquisitions, net of cash acquired | — | (86,629) | — |
| Purchases of investments | (73,831) | — | — |
| Sale and maturities of investments | 31,845 | — | — |
| Net cash used in investing activities | (55,419) | (90,547) | (709) |
| Cash flows from financing activities: | |||
| Repayment of finance lease obligations | (1,726) | (2,212) | (3,624) |
| Repayment of bank loans | — | (197) | (312) |
| Repurchases of ordinary shares | (23,243) | (1,594) | — |
| Proceeds from prepaid consideration of restricted shares | — | — | 1,578 |
| Proceeds from initial public offering, net of IPO costs | — | — | 34,245 |
(In thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Net cash provided by (used in) financing activities | (24,969) | (4,003) | 31,887 |
| Effect of foreign currency exchange rate changes on cash and restricted cash | (1,414) | 190 | 380 |
| Net increase in cash and restricted cash | 76,276 | 39,092 | 81,214 |
| Cash and restricted cash at the beginning of the year | 184,168 | 145,076 | 63,862 |
| Cash and restricted cash at the end of the year | $260,444 | $184,168 | $145,076 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest expense | 256 | 1,240 | 568 |
| Cash paid for income taxes | 26,301 | 9,512 | 8,539 |
| Non-cash investing and financing activities: | |||
| Purchase of property and equipment under finance leases | 767 | — | 2,719 |
| Share based awards attributable to the IPO where no cash payment is required | — | — | 807 |
| Reversal of subscription receivable from ordinary shares | — | 312 | — |
| Fair value of assets acquired by acquisition | — | 273,086 | — |
| Cash paid for business combinations and asset purchases | — | 87,568 | — |
| Liabilities assumed by acquisition | — | (185,518) | — |
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