Filing Flows › GigaCloud Technology (GCT) › Q4 2024
GigaCloud Technology (GCT) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 3, 2025
GigaCloud Technology (GCT) reported revenue of $296M for the fourth quarter 2024 (Q4 2024), +21% from a year earlier and -2% from the quarter before. Operating margin was 9.3%, net earnings $31.0M (10.5% of revenue).
GigaCloud Technology, Q4 2024: revenue $296M (+21% year over year), operating margin 9.3%, net earnings $31.0M, operating cash flow $68.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $296M | -2% | +21% |
| Gross profit | $65.0M | -16% | -7% |
| Operating profit | $27.6M | -32% | -26% |
| Net earnings | $31.0M | -24% | -13% |
| Operating cash flow | $68.4M | +24% | +35% |
| Free cash flow | $66.9M | +30% | +42% |
What changed
Revenue was $295.8M in Q4 2024, up 21% year over year and down 2% from the previous quarter. Product revenues was the largest line at 67% of revenue.
Gross margin was 22.0%, down 6.6 points from a year earlier. Operating profit was $27.6M, a 9.3% margin (down 5.8 points year over year). Operating profit fell $9.5M even though revenue rose $51.0M versus a year earlier, so costs grew faster than sales. Operating expenses grew 14% against revenue growth of 21%. The fastest-growing cost line was General & admin (+29%). Net earnings were $31.0M, down 13% year over year. The effective tax rate was -1.9%.
Operating cash flow was $68.4M (up 35% year over year), 221% of net earnings. Non-cash charges added back $2.3M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $33.9M. Capital expenditures of $1.5M left free cash flow of $66.9M.
Questions
What was GigaCloud Technology's revenue in the fourth quarter 2024?
GigaCloud Technology (GCT) reported revenue of $296M for the fourth quarter 2024 (Q4 2024), +21% from a year earlier and -2% from the quarter before.
Was GigaCloud Technology profitable in the fourth quarter 2024?
Operating profit was $27.6M (9.3% of revenue) and net earnings $31.0M.