GigaCloud Technology Inc
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income | $137,372 | $125,808 | $94,108 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 8,332 | 8,524 | 2,873 |
| Share-based compensation | 4,951 | 16,825 | 2,503 |
| Operating lease | 5,337 | 29,282 | 2,485 |
| Changes in accounts receivables | (5,765) | (234) | (5,058) |
| Changes in inventories | (11,517) | (46,875) | (16,514) |
| Changes in prepayments and other assets | (5,229) | (1,665) | (9,249) |
| Changes in accounts payable, accrued expenses and other current liabilities | 52,906 | 38,188 | 46,258 |
| Changes in contract liabilities | 1,777 | (992) | 1,473 |
| Changes in income tax payable | 3,709 | (1,023) | 10,977 |
| Changes in deferred income taxes | (3,007) | (11,462) | 398 |
| Other operating activities | 1,794 | 1,702 | 3,198 |
| Net cash provided by operating activities | 190,660 | 158,078 | 133,452 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (7,873) | (15,536) | (4,380) |
| Disposals of property and equipment | 191 | 2,103 | 462 |
| Advances paid for the acquisition | (1,000) | — | — |
| Acquisitions, net of cash acquired | — | — | (86,629) |
| Purchases of investments | (94,694) | (73,831) | — |
| Sale and maturities of investments | 98,287 | 31,845 | — |
| Net cash used in investing activities | (5,089) | (55,419) | (90,547) |
| Cash flows from financing activities: | |||
| Repayment of finance lease obligations | (377) | (1,726) | (2,212) |
| Repayment of bank loans | — | — | (197) |
| Repurchases of ordinary shares | (67,403) | (23,243) | (1,594) |
| Net cash used in financing activities | (67,780) | (24,969) | (4,003) |
| Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | 2,305 | (1,414) | 190 |
| Net increase in cash, cash equivalents and restricted cash | 120,096 | 76,276 | 39,092 |
| Cash, cash equivalents and restricted cash at the beginning of the year | 260,444 | 184,168 | 145,076 |
| Cash, cash equivalents and restricted cash at the end of the year | $380,540 | $260,444 | $184,168 |
(In thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest expense | $200 | $256 | $1,240 |
| Cash paid for income taxes | 23,461 | 26,301 | 9,512 |
| Non-cash investing and financing activities: | |||
| Purchase of property and equipment under finance leases | 1,080 | 767 | — |
| 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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