GigaCloud Technology (GCT) on Friday reported unaudited fourth-quarter earnings and revenue that handily beat Wall Street targets, while also offering upbeat first-quarter guidance. GigaCloud stock jumped on the news.

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The company plans to host a conference call to discuss its financial results on Monday, March 18.

On the stock market today, shares jumped 17% to 41.03 in midday trades. GigaCloud stock has gained 91% in 2024 amid trading volatility. Shares have soared 260% since the Q3 earnings report.

GigaCloud Earnings

In the quarter ended Dec. 31, GigaCloud said it earned 87 cents on an adjusted basis, up 180% from the year-earlier period. GigaCloud said revenue rose 95% to $244.7 million, including acquisitions.

Analysts polled by FactSet predicted adjusted GigaCloud earnings per share of 58 cents on revenue of $224.2 million.

The company forecast first-quarter revenue of $235 million vs. estimates of $210 million.

In the next fiscal year, analysts project adjusted EPS of $2.42 on revenue of $1.03 billion.

GigaCloud Stock: 2022 IPO

GigaCloud went public in August 2022. Early investors in the company included China’s JD.com (JD).

GigaCloud sources large-parcel items such as furniture, home appliances and fitness equipment from China and elsewhere. It sells them to buyers and retailers in the U.S., Europe, Japan and other places, while providing logistics, warehousing and technological solutions in the process.

Further, GigaCloud has been making acquisitions. It recently purchased digital signage company Apexis and its Wondersign business. It also bought Noble House Home Furnishings.

GigaCloud stock ranked No. 1 in the IBD 50 roster of growth stocks ahead of the Q4 earnings report.

Follow Reinhardt Krause on X, formerly Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.

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