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Jun 30, 2024
GigaCloud Q2 2024 Earnings Report
GigaCloud's revenue more than doubled, reaching a record high, with significant growth in adjusted EBITDA due to enhanced operational efficiency and profitability.
Key Takeaways
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.
GigaCloud
GigaCloud
GigaCloud Revenue by Segment
Revenue by Segment
Service Revenues Revenue
CapyFin.comProduct Revenues Revenue
CapyFin.com Forward Guidance
The Company expects its total revenues to be between $266 million and $282 million in the third quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income