GigaCloud Technology Inc. reported positive Q1 2025 results, growing both revenue and gross merchandise value (GMV).
The company’s global business-to-business (B2B) ecommerce marketplace continued to expand rapidly, driven by increased participation from third-party sellers and buyers.
Gross merchandise value (GMV) for the GigaCloud Marketplace jumped 56.1% year over year to $1.42 billion for the 12 months ended March 31, 2025.
“Our continued growth — especially in the face of ongoing macroeconomic uncertainty — shows the strength and resilience of our marketplace model,” said Larry Wu, founder, chairman, and CEO of GigaCloud. “The Supplier Fulfilled Retailing model gives us unique operational leverage and efficiency, allowing buyers and sellers to transact seamlessly across borders.”
GigaCloud revenue in Q1
Total GigaCloud revenue in Q1 rose 8.3% year over year to $271.9 million. That compares to $251.1 million in the same period last year. The company’s net income remained steady at $27.1 million.
The GigaCloud Marketplace is a technology-driven B2B platform that connects manufacturers — primarily based in Asia — with resellers and retailers in the United States, Europe, and other global markets. The company focuses on large-parcel categories such as furniture, home appliances, and fitness equipment.
In Q1, GigaCloud third-party (3P) seller GMV rose 49.9% year over year to $734.3 million. It represented 51.8% of the total GMV.
The marketplace’s active 3P sellers increased 33.4% to 1,154. Meanwhile, its active buyers surged 81.4% to 9,966. Spend per active buyer reached $142,156.
“Despite some short-term margin pressure, we’re continuing to invest in scalable infrastructure and technology that will drive long-term value,” said Erica Wei, chief financial officer. “Our capital allocation strategy reflects that balance—reinvesting in growth while returning capital to shareholders.”
As of March 31, 2025, GigaCloud had $287.5 million in cash, restricted cash, and investments, down 5.1% from the end of 2024
Looking ahead, GigaCloud expects total revenue for Q2 2025 to be between $275 million and $305 million.
“Our platform is built to scale,” Wu added. “The long-term fundamentals of cross-border B2B ecommerce remain intact. With more sellers and buyers leaning into our ecosystem, we’re confident in our ability to deliver sustainable growth and shareholder value.”
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s update on the GigaCloud B2B marketplace’s revenue and GMV.
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