GigaCloud Q1 Earnings Review: Strong Execution The Market Still Ignores

GigaCloud Technology Inc. delivered robust Q1 2026 results, with revenue up 32.2% YoY and adjusted EPS up 49.4%. GCT's strategic shift to higher-margin 3P GMV is accelerating, with 3P sellers now over 54% of GMV and active buyers up 25.2%. Inventory buildup is likely intentional, positioning GCT for anticipated demand, while buybacks and new M&A (New Classic Home Furnishings) support future growth.