In the past three years, with the weakness of overseas consumption and the impact of the new crown epidemic, the pattern of overseas shopping is changing considerably. People's shopping habits gradually shift from the original cross-border e-commerce to interest e-commerce and AI e-commerce. China, the world's largest goods trader, will reopen in 2023. Thousands of buyers and sellers are flocking to the new cross-border e-commerce led by TikTok, Pinduoduo, and GigaCloud. GigaCloud Technology Inc, which went public at the end of last year, once again impresses investors with its remarkable financial performance and demonstrates its superior strength and unlimited potential.First, Remarkable 2022 financial performance with impressive 3P Seller
On March 17, GigaCloud Technology Inc (Nasdaq: GCT) ("GigaCloud" or the "Company") released its financial results for the fourth quarter of 2022 ("Q4-22") and the full year of 2022 ("FY22"). Total revenues were US$490 million for FY22. Net income was US$23.97 million for FY22, including US$12.48 million in Q4-22, an increase of 34% compared to last year; operating profit for the year reached US$41.84 million, including US$15.19 million in Q4-22, an increase of 35% compared to last year; meanwhile, net cash flow from operating for FY22 increased by 480% to US$49.66 million, with the growth rate far exceeding market expectations.
Regarding specific products, 3P seller GMV grew 64% year-on-year to US$258 million in FY2022. GigaCloud Marketplace GMV grew 25% year-on-year to US$518 million, with a steady growth trend in trading users, with active buyers growing 17% year-on-year to 4,156 in FY22 and active sellers growing 47% year-on-year to 560 in FY22.
GigaCloud has formed a specific brand effect in the large merchandise foreign trade industry through its technology and scale effect. In particular, the performance of 3P seller was impressive. 3P seller GigaCloud Marketplace GMV was US$257.7 million in FY22, growing significantly compared to last year. 3P seller GigaCloud Marketplace GMV represented 50% of total GigaCloud Marketplace GMV in Q4-22 for the first time, showing a rapid growth trend.
Second, GigaCloud can release great potential as China reopens in 2023 to create a prosperous cross-border trade environment
1. Global leading B2B e-commerce solution provider - GigaCloud Technology Inc (GCT.US)
GigaCloud is currently the world's most advanced B2B e-commerce solution provider, mainly providing optimal cross-border solutions that allow products to be delivered from manufacturers and online distributors to terminal customers without borders. Through its unique artificial intelligence technology, GigaCloud digitizes sellers' credit profiles and then combines that data with the capacity of local warehouses, significantly increasing the utilization of warehouses. From the perspective of sales per unit area, GigaCloud enables the delivery of more goods than competitors.
In August 2022, GigaCloud went public on NASDAQ and was one of the few cross-border e-commerce platforms with AI technology. As of March 2022, GigaCloud Marketplace, GigaCloud's unique self-built stations, had 410 active 3p sellers and 3,782 active buyers. In the 12 months ended March 31, 2022, GigaCloud Marketplace GMV was US$438 million and spend per active buyer was US$116,000, showing that users are more willing to pay.
2. Well-developed logistics systems and outstanding self-built stations
Click here to continue