From TokenPost · · 50s
GigaCloud Sets $425M-$450M Q4 Revenue Outlook
GigaCloud targets $425m-$450m revenue for Q4 as it focuses on profitability amid U.S. furniture weakness.
In brief
GigaCloud targets $425m-$450m revenue for Q4 as it focuses on profitability amid U.S. furniture weakness. GigaCloud expects $425 million to $450 million in fourth-quarter revenue while emphasizing profitable growth in Europe. Originally reported by TokenPost.
Q4 Revenue Forecast
GigaCloud Technology Inc. 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.
Third Quarter Results
For the third quarter, revenue rose 27% from a year earlier and earnings per share increased 42% with net income and operating cash flow reaching records.
European Growth
Product revenue in Europe rose 46% while regional marketplace gross merchandise volume increased 65% and third-party marketplace GMV climbed nearly 330% year over year.
At a glance
GigaCloud expects $425 million to $450 million in fourth-quarter revenue while emphasizing profitable growth in Europe.
