← GigaCloud Technology Inc
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Accounts receivable, net | $24.3m | $68.5m | $48.2m | $18.0m | $27.1m | $27.5m | $38.6m | $35.9m | |
| Inventories | $6.8m | $1.3m | $2.0m | $81.4m | $78.3m | $6.3m | $1.1m | $1.3m | |
| Prepayments and other current assets | — | — | — | $9.1m | $7.6m | — | — | — | |
| Subscription receivable from ordinary shares | — | — | — | ($79k) | ($81k) | — | — | — | |
| Short-term investments | — | — | — | — | $0 | $184.2m | $88.1m | $3.6m | |
| Notes receivable | $4.0m | $3.1m | $4.2m | $6.3m | $10.8m | $3.7m | $1.3m | $0 | |
| Other receivables, net | $5.4m | $5.7m | $6.4m | $6.9m | $5.5m | $2.2m | $3.6m | $3.8m | |
| Prepaid expenses | $510k | $193k | $198k | $146k | $420k | $350k | $402k | $389k | |
| Long-term other receivables, net | $0 | $440k | $4k | $115k | $1.6m | $4k | $0 | — | |
| Prepaid expenses - related parties | $0 | $218k | $0 | $433k | $275k | $0 | — | — | |
| Trade accounts receivable-related party, net | $0 | $3.4m | $3.1m | $0 | — | — | — | — | |
| Long-term trade accounts receivable, net | $4.2m | $0 | — | — | — | — | — | — | |
| Total current assets | $100.8m | $97.8m | $129.3m | $172.4m | $258.1m | $504.4m | $506.5m | $356.2m | |
| Property and equipment, net | $3.2m | $3.7m | $29.8m | $11.1m | $13.1m | $24.8m | $22.1m | $20.0m | |
| Intangible assets, net | — | — | — | $6.7m | $6.0m | $0 | — | — | |
| Goodwill | — | — | — | $7.0m | $4.7m | $0 | — | — | |
| Operating lease right-of-use assets | — | $0 | $2.5m | $0 | $144.2m | $2.7m | — | — | |
| Operating lease right-of-use assets, net (including ¥1,769,840 and ¥696,851($97,277) from a related party as of June 30, 2024 and June 30, 2025, respectively) | — | — | — | — | — | $2.7m | $23.5m | $19.0m | |
| Cash | $45.3m | $4.5m | $30.3m | $63.2m | $143.5m | $104.1m | $110.0m | $98.9m | |
| Restricted cash | — | — | — | $664k | $1.5m | $732k | $849k | $8k | |
| Deferred tax assets | — | — | — | $72k | $75k | — | — | — | |
| Other non-current assets | — | — | — | $3.2m | $3.2m | — | — | — | |
| Current portion of long-term borrowings | — | — | — | $345k | $207k | — | — | — | |
| Contract liabilities (including contract liabilities of VIEs without recourse to the Company of US$394 and US$385 as of December 31, 2021 and 2022, respectively) | — | $120k | $3.5m | $3.7m | $2.0m | $2.7m | $1.8m | $4.7m | |
| Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company of nil and US$1,864 as of December 31, 2021 and December 31, 2022, respectively) | — | $0 | $1.3m | $0 | $27.7m | $3.1m | $3.7m | $1.8m | |
| Income tax payable (including income tax payable of VIEs without recourse to the Company of US$78 and US$280 as of December 31, 2021 and 2022, respectively) | — | — | — | $8.1m | $4.1m | — | — | — | |
| Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of US$341 and US$442 as of December 31, 2021 and 2022, respectively) | — | — | — | $19.7m | $37.1m | — | — | — | |
| Long-term borrowings | $8.9m | $8.2m | $7.4m | $237k | $0 | — | — | — | |
| Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company of nil and US$3,322 as of December 31, 2021 and December 31, 2022, respectively) | — | $0 | $1.2m | $0 | $116.6m | $25k | $4.0m | $1.1m | |
| Finance lease obligations, non-current | — | — | — | $2.3m | $867k | — | — | — | |
| Non-current income tax payable | — | — | — | $1.0m | $2.9m | — | — | — | |
| Series E Preferred Shares (US$0.05 par value per share, 3,999,709 shares authorized, issued and outstanding as of December 31, 2021; Redemption value of US$26,652 as of December 31, 2021; Liquidation value of US$25,000 as of December 31, 2021) | — | — | — | 26.7m | — | — | — | — | |
| Ordinary shares | $2.3m | $2.7m | $4.6m | $554k | $2.0m | $32k | $104k | $116k | |
| Treasury shares, at cost (nil and 4,624,039 shares held as of December 31, 2021 and December 31, 2022, respectively) | — | — | — | — | ($231k) | — | — | — | |
| Preferred Share | — | — | — | $872k | — | — | — | — | |
| Loans to third parties-short term | — | — | — | — | — | — | $208.9m | $141.6m | |
| Purchase advances, net | $12.7m | $1.3m | $179k | $1.1m | $178k | $2.7m | $5.2m | $14.6m | |
| Contract costs, net | — | — | $31.5m | $48.8m | $33.9m | $49.6m | $48.3m | $53.5m | |
| Deferred offering cost | — | — | — | — | — | — | $0 | $2.5m | |
| Construction in progress | $11.8m | $21.5m | $27.2m | — | $240k | $0 | $219k | $12.0m | |
| Loans to third parties-long term | — | — | — | — | — | — | — | $118.5m | |
| Short-term bank loans | $0 | $2.5m | $9.5m | $15.0m | $10.0m | $12.5m | $12.4m | $11.6m | |
| Other payables | $3.3m | $2.2m | $2.6m | $9.9m | $3.5m | $8.4m | $5.1m | $9.1m | |
| Taxes payable | $432k | $2.2m | $1.1m | $1.2m | $2.2m | $1.2m | $993k | $796k | |
| Short-term borrowings - related parties | — | — | $10.2m | $12.7m | $9.0m | $20.0m | $10.0m | $10.0m | |
| Long-term borrowings - related party | — | — | $7.4m | $6.5m | $5.5m | $0 | $10.0m | $10.0m | |
| Warrant liability - non-current | — | — | — | $190.6m | $16.7m | $31.6m | $7k | $688 | |
| Statutory reserve | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | |
| Non-controlling interests | $10.9m | $11.1m | $10.6m | ($7.6m) | ($7.7m) | ($10.1m) | ($11.6m) | ($13.5m) | |
| Loans to third parties | $2.0m | $5.0m | $3.2m | $50.5m | $50.4m | $123.1m | $208.9m | — | |
| Other payable- related parties | — | — | $4.5m | $2.4m | $2.2m | $2.6m | — | — | |
| Long-term borrowings - related party - current portion | $720k | $781k | $847k | $920k | $1,000k | — | — | — | |
| Contract liabilities - non-current | — | — | — | — | $106k | $0 | — | — | |
| Land use right, net | $1.3m | $1.3m | $1.3m | $1.3m | $1.2m | — | — | — | |
| Investment in unconsolidated entity | $0 | $31.1m | $31.5m | $27.9m | — | — | — | — | |
| Short-term borrowings | $0 | $1.1m | $200k | $530k | $0 | — | — | — | |
| Investment payable | $0 | $6.4m | $6.4m | — | — | — | — | — | |
| Contract assets, net | $0 | $4.6m | $31.5m | — | — | — | — | — | |
| Prepayments for construction in progress | $474k | $1.1m | $0 | — | — | — | — | — | |
| Total non-current assets | — | — | — | $14.4m | $160.5m | — | — | — | |
| Total non-current liabilities | — | — | — | $3.9m | $120.8m | — | — | — | |
| Total mezzanine equity | — | — | — | $26.7m | — | — | — | — | |
| Total shareholders' equity | $76.0m | $95.6m | $110.0m | $99.2m | $195.2m | $449.2m | $502.6m | $467.4m | |
| Total equity | $86.9m | $106.7m | $120.6m | $287.5m | $412.9m | $439.2m | — | — | |
| Total assets | $121.8m | $157.0m | $194.4m | $186.8m | $418.6m | $531.8m | $552.4m | $525.6m | |
| Accounts payable (including accounts payable of VIEs without recourse to the Company of US$1,433 and US$4,185 as of December 31, 2021 and 2022, respectively) | — | — | — | $25.1m | $31.6m | $10.8m | $10.2m | $19.4m | |
| Accrued payroll and employees' welfare | $600k | $1.4m | $1.9m | $2.0m | $2.3m | $2.4m | $3.2m | $3.2m | |
| Trade accounts payable | $8.8m | $14.1m | $23.0m | $22.0m | $16.7m | — | — | — | |
| Total current liabilities | $26.0m | $42.1m | $65.2m | $57.0m | $102.6m | $61.0m | $47.5m | $60.6m | |
| Deferred tax liabilities | — | — | — | $286k | $472k | — | — | — | |
| Deferred tax liability | — | — | $0 | $624k | — | — | — | — | |
| Total liabilities | $34.9m | $50.3m | $73.8m | $60.9m | $223.4m | $92.7m | $61.5m | $71.7m | |
| Additional paid-in capital | $207.5m | $250.6m | $282.5m | $37.4m | $109.0m | $580.3m | $681.5m | $692.6m | |
| Accumulated other comprehensive income (loss) | $1.5m | $2.9m | $2.8m | ($165k) | $804k | $35.1m | $37.1m | $33.5m | |
| Retained earnings | ($139.4m) | ($164.8m) | ($184.0m) | $60.6m | $83.6m | ($170.4m) | ($220.3m) | ($262.9m) | |
| Total liabilities, mezzanine equity and shareholders' equity | $121.8m | $157.0m | $194.4m | $186.8m | $418.6m | $531.8m | $552.4m | $525.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.