Filing Flows › GigaCloud Technology (GCT) › Q1 2026
GigaCloud Technology (GCT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
GigaCloud Technology (GCT) reported revenue of $359M for the first quarter 2026 (Q1 2026), +32% from a year earlier and -0.9% from the quarter before. Operating margin was 11.8%, net earnings $38.1M (10.6% of revenue).
GigaCloud Technology, Q1 2026: revenue $359M (+32% year over year), operating margin 11.8%, net earnings $38.1M, operating cash flow −$21.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $359M | -0.9% | +32% |
| Gross profit | $85.8M | +3% | +35% |
| Operating profit | $42.5M | +5% | +50% |
| Net earnings | $38.1M | -1% | +40% |
| Operating cash flow | −$21.7M | -128% | -330% |
What changed
Revenue was $359.5M in Q1 2026, up 32% year over year and down 1% from the previous quarter. Products was the largest line at 68% of revenue. Products added $65.1M year over year (up 37%), 74% of the total change. Ocean transportation service declined 31%.
Gross margin was 23.9%, up 0.4 points from Q1 2025. Operating profit was $42.5M, a 11.8% margin (up 1.4 points year over year). Of the extra revenue versus Q1 2025, 16% reached operating profit, above the 10% margin then. Operating expenses grew 22% against revenue growth of 32%. The fastest-growing cost line was Sales & marketing (+68%). Net earnings were $38.1M, up 40% year over year. The effective tax rate was 17.0%.
Operating cash flow was −$21.7M. Non-cash charges added back $2.2M of depreciation and amortization and $345K of share-based compensation. Working capital and other items used $62.4M. Capital expenditures of $4.5M exceeded it, leaving free cash flow of −$26.2M.
Questions
What was GigaCloud Technology's revenue in the first quarter 2026?
GigaCloud Technology (GCT) reported revenue of $359M for the first quarter 2026 (Q1 2026), +32% from a year earlier and -0.9% from the quarter before.
Was GigaCloud Technology profitable in the first quarter 2026?
Operating profit was $42.5M (11.8% of revenue) and net earnings $38.1M.