Filing Flows › GigaCloud Technology (GCT) › Q2 2026 › vs Q2 2025
GigaCloud Technology (GCT) Q2 2026 vs Q2 2025 (year over year)
GigaCloud Technology's revenue rose $89.0M (+28%) from $323M in Q2 2025 to $412M in Q2 2026. The biggest changes: Product revenues +$65.1M (+29%); Service revenues +$23.9M (+25%). Gross margin 25.6% against 23.9% (+1.8 pts).
GigaCloud Technology, Q2 2026: revenue $412M (+28% year over year), operating margin 11.5%, net earnings $42.3M, operating cash flow $48.4M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 25.6% | 23.9% | +1.8 pts |
| Operating margin | 11.5% | 11.1% | +0.4 pts |
| Net margin | 10.3% | 10.7% | -0.4 pts |
| Free cash flow margin | 11.0% | 11.5% | -0.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Last-mile delivery service | $70.0M | $53.9M | $16.1M | +30% |
| Warehousing service | $16.0M | $13.5M | $2.6M | +19% |
| Ocean transportation service | $10.7M | $8.3M | $2.4M | +28% |
| Packaging service | $9.3M | $8.3M | $1.0M | +12% |
| Platform commission | $6.2M | $4.8M | $1.4M | +30% |
| Others | $5.4M | $4.9M | $532K | +11% |
| Drayage service | $3.1M | $3.2M | −$104K | -3% |
| Service revenues | $121M | $96.9M | $23.9M | +25% |
| Product revenues | $291M | $226M | $65.1M | +29% |
| Revenue | $412M | $323M | $89.0M | +28% |
| Gross profit | $106M | $76.9M | $28.6M | +37% |
| Cost of revenue | $306M | $246M | $60.4M | +25% |
| Other income, net | $2.4M | $5.1M | −$2.7M | -53% |
| Operating profit | $47.5M | $35.8M | $11.7M | +33% |
| Operating expenses | $58.0M | $41.1M | $16.9M | +41% |
| Pre-tax earnings | $49.9M | $41.0M | $9.0M | +22% |
| Research & development | $2.7M | $3.2M | −$493K | -15% |
| Sales & marketing | $36.2M | $24.8M | $11.4M | +46% |
| General & admin | $19.2M | $13.0M | $6.1M | +47% |
| Net earnings | $42.3M | $34.6M | $7.8M | +23% |
| Income tax | $7.6M | $6.4M | $1.2M | +18% |
| Depreciation & amortization | $2.2M | $2.1M | $65K | +3% |
| Share-based compensation | $11.2M | $3.0M | $8.2M | +272% |
| Working capital & other | $7.3M | $1.1M | $6.2M | +562% |
| Operating cash flow | $48.4M | $38.6M | $9.8M | +25% |
| Free cash flow (OCF − capex) | $45.1M | $37.0M | $8.1M | +22% |
| Capital expenditures | $3.3M | $1.6M | $1.7M | +110% |
Questions
How much did GigaCloud Technology's revenue grow year over year in Q2 2026?
GigaCloud Technology's revenue rose $89.0M (+28%) from $323M in Q2 2025 to $412M in Q2 2026.
What drove GigaCloud Technology's revenue change in Q2 2026?
Product revenues +$65.1M (+29%); Service revenues +$23.9M (+25%).