NEWS
GigaCloud Technology Inc Announces Third Quarter and Nine Months Ended September 30, 2024 Financial Results
Third Quarter 2024 Financial Highlights
• Total revenues of $303.3 million increased 70.2% from $178.2 million for the third quarter of 2023.
• Gross profit of $77.3 million increased 58.1% from $48.9 million for the third quarter of 2023.
Gross margin was 25.5%, compared with 27.4% for the third quarter of 2023.
• Net income of $40.7 million increased 68.2% from $24.2 million for the third quarter of 2023.
Net income margin was 13.4%, compared with 13.6% for the third quarter of 2023.
Diluted EPS increased 66.1% to $0.98, from $0.59 for the third quarter of 2023.
• Adjusted EBITDA1 increased 63.8% to $48.8 million, from $29.8 million for the third quarter of 2023.
Adjusted EPS – diluted2 increased 55.4% to $1.15, from $0.74 for the third quarter of 2023.
• Cash, Cash Equivalents, Restricted Cash, and Investments totaled $260.5 million as of September 30, 2024, a 41.4% increase from $184.2 million as of December 31, 2023.
• Total revenues of $303.3 million increased 70.2% from $178.2 million for the third quarter of 2023.
• Gross profit of $77.3 million increased 58.1% from $48.9 million for the third quarter of 2023.
Gross margin was 25.5%, compared with 27.4% for the third quarter of 2023.
• Net income of $40.7 million increased 68.2% from $24.2 million for the third quarter of 2023.
Net income margin was 13.4%, compared with 13.6% for the third quarter of 2023.
Diluted EPS increased 66.1% to $0.98, from $0.59 for the third quarter of 2023.
• Adjusted EBITDA1 increased 63.8% to $48.8 million, from $29.8 million for the third quarter of 2023.
Adjusted EPS – diluted2 increased 55.4% to $1.15, from $0.74 for the third quarter of 2023.
• Cash, Cash Equivalents, Restricted Cash, and Investments totaled $260.5 million as of September 30, 2024, a 41.4% increase from $184.2 million as of December 31, 2023.
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72993459 : I guess they start a buyback program LOL I see why