GigaCloud Technology (GCT) investor relations material

Company overview and recent performance

• Operates a B2B marketplace focused on big and bulky items, primarily furniture, with a 16-year history and public since 2022.

• Recognized by Forbes as the top U.S. company under $2B market cap for 2025 and remains in the top 20 for 2026.

• Q3 2025 revenue reached $333M, up 10% year-over-year, with $33M net profit and $0.99 EPS, aided by aggressive share repurchases.

• Over the past year, repurchased about 10% of shares and completed three acquisitions, including an $18M furniture distributor deal in January.

• Maintains a debt-free balance sheet with $360M in cash, funding expansion and acquisitions from operating cash flow.

Business model and supply chain innovation

• Specializes in a fragmented, non-standard market with tens of thousands of SKUs, leveraging technology to streamline small, complex transactions.

• Employs a Supplier Fulfilled Retailing (SFR) model, enabling suppliers to fulfill orders directly to consumers, reducing logistics costs and inventory risk.

• Operates 25 leased warehouses in the U.S. for load balancing and efficient nationwide fulfillment.

• Offers both 1P (own inventory) and 3P (supplier inventory) models, with logistics and transaction services integrated.

• Provides flexible fulfillment options, including direct-to-consumer, warehouse pickup, and traditional B2B shipping.

Market dynamics and growth strategy

• European market now accounts for a third of revenue, growing 70% year-over-year, offsetting U.S. softness.

• Early diversification of supply chain away from China helped mitigate tariff impacts and support global growth.

• Focused on expanding the participant base and increasing reliance on the ecosystem, targeting the $40–$50B U.S. wholesale furniture market.

• Marketplace hosts about 1,100 active buyers, each averaging $130K in annual spend, with 50,000 SKUs and furniture as the dominant category.

• Buyer base is highly fragmented, including e-commerce resellers and brick-and-mortar retailers, with no single player dominating the market.