Filing Flows › GigaCloud Technology (GCT) › Q3 2026 › vs Q3 2025
GigaCloud Technology (GCT) Q3 2026 vs Q3 2025 (year over year)
GigaCloud Technology's revenue rose $90.9M (+27%) from $333M in Q3 2025 to $424M in Q3 2026. The biggest changes: Product revenues +$63.3M (+28%); Service revenues +$27.7M (+26%). Gross margin 24.9% against 23.2% (+1.7 pts).
GigaCloud Technology, Q3 2026: revenue $424M (+27% year over year), operating margin 13.9%, net earnings $50.6M, operating cash flow $56.4M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.9% | 23.2% | +1.7 pts |
| Operating margin | 13.9% | 12.2% | +1.8 pts |
| Net margin | 11.9% | 11.2% | +0.8 pts |
| Free cash flow margin | 13.2% | 23.2% | -10.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Last-mile delivery service | $75.4M | $60.9M | $14.5M | +24% |
| Ocean transportation service | $18.2M | $9.6M | $8.6M | +89% |
| Warehousing service | $17.0M | $14.8M | $2.3M | +15% |
| Packaging service | $9.7M | $8.7M | $1.1M | +12% |
| Platform commission | $6.7M | $4.9M | $1.8M | +36% |
| Others | $5.8M | $6.2M | −$314K | -5% |
| Drayage service | $3.1M | $3.4M | −$251K | -7% |
| Service revenues | $136M | $108M | $27.7M | +26% |
| Product revenues | $288M | $224M | $63.3M | +28% |
| Revenue | $424M | $333M | $90.9M | +27% |
| Gross profit | $105M | $77.0M | $28.2M | +37% |
| Cost of revenue | $318M | $256M | $62.7M | +25% |
| Other income, net | $3.0M | $3.5M | −$523K | -15% |
| Operating profit | $59.0M | $40.5M | $18.5M | +46% |
| Operating expenses | $46.2M | $36.5M | $9.7M | +27% |
| Pre-tax earnings | $62.0M | $44.0M | $18.0M | +41% |
| Research & development | $2.3M | $2.5M | −$246K | -10% |
| Sales & marketing | $34.7M | $25.5M | $9.2M | +36% |
| General & admin | $9.1M | $8.5M | $615K | +7% |
| Net earnings | $50.6M | $37.2M | $13.4M | +36% |
| Income tax | $11.4M | $6.9M | $4.6M | +66% |
| Depreciation & amortization | $2.3M | $2.1M | $183K | +9% |
| Share-based compensation | $879K | $349K | $530K | +152% |
| Working capital & other | $2.6M | $38.6M | −$36.0M | -93% |
| Operating cash flow | $56.4M | $78.2M | −$21.9M | -28% |
| Free cash flow (OCF − capex) | $55.8M | $77.1M | −$21.2M | -28% |
| Capital expenditures | $537K | $1.2M | −$653K | -55% |
Questions
How much did GigaCloud Technology's revenue grow year over year in Q3 2026?
GigaCloud Technology's revenue rose $90.9M (+27%) from $333M in Q3 2025 to $424M in Q3 2026.
What drove GigaCloud Technology's revenue change in Q3 2026?
Product revenues +$63.3M (+28%); Service revenues +$27.7M (+26%).