GigaCloud Sets Fourth-Quarter Revenue Outlook at $425 Million to $450 Million

GigaCloud Technology Inc. (GCT) expects fourth-quarter revenue of $425 million to $450 million as it integrates New Classic and focuses on profitability amid weakness in U.S. furniture demand.

The company did not provide earnings-per-share guidance. For the third quarter, revenue rose 27% from a year earlier and earnings per share increased 42%. Net income and operating cash flow both reached records.

Management cited a soft housing market and elevated logistics costs alongside weaker furniture demand in the United States. It also emphasized profitable growth and said it expects growth rates to moderate as the business scales.

Europe was a growth area. Product revenue there rose 46%, while regional marketplace gross merchandise volume, or GMV, increased 65%. Third-party marketplace GMV climbed nearly 330% year over year.

“Our record third quarter financial results reflect the strength of our strategy and expanding marketplace and the steadfast focus on profitable growth,” founder, chairman and CEO Lei Wu said.

GigaCloud is advancing the New Classic integration while expressing confidence in its long-term opportunity in Europe. Management expects the region’s growth rates to moderate as the business expands.