GigaCloud Technology(NASDAQ:GCT) 
GigaCloud Technology Inc. provides end-to-end B2B ecommerce solutions for large parcel merchandise. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment,...
Website: https://www.gigacloudtech.com
Founded: 2006
IPO Price: $12.25 (Aug 18, 2022)
Full Time Employees: 694
Sector: Technology
Industry: Software—Infrastructure
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-08-15 | 2023-05-24 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | |||||||||||||||
service revenues | 116,540,000 | 128,823,000 | 108,370,000 | 96,924,000 | 94,068,000 | 97,107,000 | 100,373,000 | 85,378,000 | 67,415,000 | 69,336,000 | 51,474,000 | 43,278,000 | 35,096,000 | 32,823,000 | |
product revenues | 242,948,000 | 233,924,000 | 224,268,000 | 225,682,000 | 177,838,000 | 198,675,000 | 202,943,000 | 225,489,000 | 183,662,000 | 175,401,000 | 126,693,000 | 109,852,000 | 92,701,000 | 91,204,000 | |
total revenues | 359,488,000 | 362,747,000 | 332,638,000 | 322,606,000 | 271,906,000 | 295,782,000 | 303,316,000 | 310,867,000 | 251,077,000 | 244,737,000 | 178,167,000 | 153,130,000 | 127,797,000 | 124,027,000 | |
yoy | 32.21% | 22.64% | 9.67% | 3.78% | 8.30% | 20.86% | 70.24% | 103.01% | 96.47% | 43.65% | |||||
qoq | -0.90% | 9.05% | 3.11% | 18.65% | -8.07% | -2.48% | -2.43% | 23.81% | 2.59% | 37.36% | 16.35% | 19.82% | |||
cost of revenues | |||||||||||||||
services | 106,630,000 | 121,053,000 | 98,473,000 | 85,856,000 | 79,156,000 | 78,188,000 | 78,292,000 | 74,040,000 | 54,431,000 | 265,139,000 | -40,375,000 | -34,782,000 | -28,767,000 | -28,344,000 | |
products | 167,012,000 | 158,747,000 | 157,116,000 | 159,806,000 | 129,024,000 | ||||||||||
total cost of revenues | 273,642,000 | 279,800,000 | 255,589,000 | 245,662,000 | 208,180,000 | 230,792,000 | 226,065,000 | 234,420,000 | 184,529,000 | 855,496,000 | -129,309,000 | -112,766,000 | -98,223,000 | -107,006,000 | |
gross profit | 85,846,000 | 82,947,000 | 77,049,000 | 76,944,000 | 63,726,000 | 64,990,000 | 77,251,000 | 76,447,000 | 66,548,000 | 69,837,000 | 48,858,000 | 40,364,000 | 29,574,000 | 17,021,000 | |
yoy | 34.71% | 27.63% | -0.26% | 0.65% | -4.24% | -6.94% | 58.11% | 89.39% | 125.02% | 187.05% | |||||
qoq | 3.50% | 7.65% | 0.14% | 20.74% | -1.94% | -15.87% | 1.05% | 14.87% | -4.71% | 42.94% | 21.04% | 36.48% | |||
gross margin % | 23.88% | 22.87% | 23.16% | 23.85% | 23.44% | 21.97% | 25.47% | 24.59% | 26.51% | 28.54% | 27.42% | 26.36% | 23.14% | NaN% | 13.72% |
operating expenses | |||||||||||||||
selling and marketing expenses | 31,242,000 | 29,390,000 | 25,477,000 | 24,778,000 | 18,558,000 | 18,041,000 | 18,605,000 | 19,460,000 | 14,580,000 | 68,768,000 | -10,951,000 | -9,535,000 | -6,896,000 | -5,452,000 | |
general and administrative expenses | 9,762,000 | 10,677,000 | 8,511,000 | 13,031,000 | 14,340,000 | 16,979,000 | 15,296,000 | 26,280,000 | 15,389,000 | 46,886,000 | -5,831,000 | -6,897,000 | -4,150,000 | -3,336,000 | |
research and development expenses | 2,358,000 | 2,621,000 | 2,534,000 | 3,184,000 | 2,493,000 | 2,356,000 | 2,582,000 | 3,097,000 | 1,756,000 | 5,506,000 | -377,000 | -532,000 | -672,000 | ||
losses on disposal of property and equipment | 5,000 | -31,000 | 7,000 | 108,000 | 12,000 | -20,000 | 45,000 | 162,000 | 6,000 | ||||||
total operating expenses | 43,367,000 | 42,657,000 | 36,529,000 | 41,101,000 | 35,403,000 | 37,356,000 | 36,528,000 | 48,999,000 | 31,731,000 | 124,396,000 | -17,159,000 | -16,964,000 | -11,718,000 | -8,788,000 | |
operating income | 42,479,000 | 40,290,000 | 40,520,000 | 35,843,000 | 28,323,000 | 27,634,000 | 40,723,000 | 27,448,000 | 34,817,000 | 37,123,000 | 31,699,000 | 23,400,000 | 17,856,000 | 8,233,000 | |
yoy | 49.98% | 45.80% | -0.50% | 30.59% | -18.65% | -25.56% | 28.47% | 17.30% | 94.99% | 285.02% | |||||
qoq | 5.43% | -0.57% | 13.05% | 26.55% | 2.49% | -32.14% | 48.36% | -21.16% | -6.21% | 17.11% | 35.47% | 31.05% | |||
operating margin % | 11.82% | 11.11% | 12.18% | 11.11% | 10.42% | 9.34% | 13.43% | 8.83% | 13.87% | 15.17% | 17.79% | 15.28% | 13.97% | NaN% | 6.64% |
interest expense | -120,000 | -74,000 | -71,000 | -32,000 | -23,000 | -29,000 | -87,000 | -59,000 | -81,000 | -108,000 | -215,000 | -804,000 | -113,000 | -136,000 | |
interest income | 2,984,000 | 3,174,000 | 3,120,000 | 2,814,000 | 2,621,000 | 2,849,000 | 2,703,000 | 2,244,000 | 1,609,000 | 1,293,000 | 937,000 | 484,000 | 590,000 | 32,000 | |
foreign currency exchange gains | -280,000 | -707,000 | -557,000 | 647,000 | 792,000 | -754,000 | 3,337,000 | -1,107,000 | -2,709,000 | -815,000 | 1,385,000 | ||||
others | 854,000 | 1,274,000 | 980,000 | 1,677,000 | 579,000 | 678,000 | 1,177,000 | 506,000 | -322,000 | 15,000 | -1,000 | -21,000 | 269,000 | ||
income before income taxes | 45,917,000 | 43,699,000 | 44,032,000 | 40,954,000 | 32,505,000 | 30,386,000 | 47,874,000 | 29,034,000 | 33,320,000 | 42,848,000 | 29,791,000 | 22,659,000 | 19,697,000 | 7,336,000 | |
income tax expense | -7,793,000 | -5,200,000 | -6,857,000 | -6,402,000 | -5,359,000 | 573,000 | -7,189,000 | -2,065,000 | -6,125,000 | -7,273,000 | -5,589,000 | -4,269,000 | -3,756,000 | -1,236,000 | |
net income | 38,124,000 | 38,499,000 | 37,175,000 | 34,552,000 | 27,146,000 | 30,959,000 | 40,685,000 | 26,969,000 | 27,195,000 | 35,575,000 | 24,202,000 | 18,390,000 | 15,941,000 | 6,100,000 | |
yoy | 40.44% | 24.35% | -8.63% | 28.12% | -0.18% | -12.98% | 68.11% | 46.65% | 70.60% | 296.75% | |||||
qoq | -0.97% | 3.56% | 7.59% | 27.28% | -12.32% | -23.91% | 50.86% | -0.83% | -23.56% | 46.99% | 31.60% | 15.36% | |||
net income margin % | 10.61% | 10.61% | 11.18% | 10.71% | 9.98% | 10.47% | 13.41% | 8.68% | 10.83% | 14.54% | 13.58% | 12.01% | 12.47% | NaN% | 4.92% |
foreign currency translation adjustment, net of nil income taxes | -52,000 | 133,000 | 101,000 | 879,000 | -137,750 | -173,000 | -266,000 | -112,000 | 232,000 | -307,000 | -194,000 | -1,717,000 | |||
net unrealized loss on available-for-sale investments | -8,000 | -6,000 | |||||||||||||
intra-entity foreign currency transactions gain | -1,609,000 | -458,000 | -420,000 | 3,386,000 | 1,636,000 | ||||||||||
release of foreign currency translation reserve related to liquidation of subsidiaries | -33,000 | -1,000 | |||||||||||||
total other comprehensive income | -1,702,000 | -332,000 | -309,000 | 4,264,000 | 2,040,000 | -112,000 | -1,717,000 | ||||||||
comprehensive income | 36,422,000 | 38,167,000 | 36,866,000 | 38,816,000 | 29,186,000 | 26,829,000 | 40,529,000 | 26,705,000 | 27,083,000 | 35,807,000 | 24,193,000 | 18,083,000 | 15,747,000 | 4,383,000 | |
net income per ordinary share | |||||||||||||||
—basic | 1,040 | 1,030 | 990 | 910 | 680 | 760 | 980 | 650 | 670 | 880 | 590 | 450 | |||
—diluted | 1,040 | 1,030 | 990 | 910 | 680 | 750 | 980 | 650 | 660 | 870 | 590 | 450 | |||
weighted-average number of ordinary shares outstanding used in computing net income per ordinary share | |||||||||||||||
government grants | 64,500 | 40,000 | 5,000 | 213,000 | 8,000 | 21,000 | 2,000 | 6,000 | 438,000 | 78,000 | 395,000 | ||||
net unrealized gain on available-for-sale investments | -7,000 | 10,000 | -1,000 | ||||||||||||
net income attributable to ordinary shareholders | 27,146,000 | 30,959,000 | 40,685,000 | 26,969,000 | 27,195,000 | 35,575,000 | 24,202,000 | 18,390,000 | 15,941,000 | 5,726,000 | |||||
foreign currency translation adjustment, net of income taxes of nil | 411,000 | ||||||||||||||
product sales | 109,562,750 | 147,773,000 | 160,380,000 | 130,098,000 | 590,357,000 | -88,934,000 | -77,984,000 | -69,456,000 | -78,662,000 | ||||||
net unrealized gains on available-for-sale investments | -12,000 | 17,000 | 2,000 | ||||||||||||
total other comprehensive loss | -133,000 | -156,000 | -264,000 | -127,500 | -307,000 | -194,000 | |||||||||
us | |||||||||||||||
foreign currency exchange losses | -538,250 | -2,723,000 | -1,062,000 | ||||||||||||
accretion of redeemable convertible preferred shares | -374,000 | ||||||||||||||
other comprehensive loss | |||||||||||||||
—basic and diluted | 390 | ||||||||||||||
other comprehensive income | |||||||||||||||
— basic and diluted | 150 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-11-01 | 2023-09-30 | 2023-08-15 | 2023-05-24 | 2023-03-17 | 2022-12-31 | 2022-11-30 | 2022-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||
current assets | ||||||||||||||||||
cash and cash equivalents | 330,271,000 | 379,780,000 | 334,851,000 | 240,119,000 | 251,711,000 | 259,759,000 | 217,581,000 | 185,623,000 | ||||||||||
restricted cash | 766,000 | 760,000 | 703,000 | 691,000 | 697,000 | 685,000 | 746,000 | 905,000 | 894,000 | 885,000 | 906,000 | 898,000 | 1,547,000 | 1,545,000 | 1,545,000 | 1,543,000 | 1,542,000 | |
investments | 32,938,000 | 36,316,000 | 31,011,000 | 62,850,000 | 35,101,000 | 42,674,000 | 42,170,000 | 22,197,000 | 10,075,000 | |||||||||
accounts receivable | 83,513,000 | 65,973,000 | 59,818,000 | 69,446,000 | 67,000,000 | 57,313,000 | 62,549,000 | 69,615,000 | 59,400,000 | 58,876,000 | 31,433,000 | 30,454,000 | 29,810,000 | 27,142,000 | 27,142,000 | 22,162,000 | 23,438,000 | |
inventories | 240,315,000 | 188,298,000 | 176,361,000 | 186,842,000 | 204,854,000 | 172,489,000 | 183,322,000 | 197,554,000 | 186,131,000 | 132,247,000 | 82,374,000 | 84,786,000 | 80,440,000 | 78,338,000 | 78,338,000 | 83,415,000 | 103,385,000 | |
prepayments and other current assets | 21,132,000 | 19,535,000 | 19,245,000 | 17,312,000 | 19,842,000 | 14,672,000 | 21,354,000 | 17,476,000 | 18,940,000 | 17,516,000 | 12,785,000 | 9,931,000 | 9,976,000 | 7,566,000 | 7,566,000 | 7,319,000 | 6,740,000 | |
total current assets | 708,935,000 | 690,662,000 | 621,989,000 | 577,260,000 | 579,205,000 | 547,592,000 | 527,722,000 | 493,370,000 | 460,654,000 | 392,807,000 | 341,484,000 | 307,575,000 | 284,436,000 | 258,122,000 | 258,122,000 | 230,623,000 | 184,294,000 | |
non-current assets | ||||||||||||||||||
operating lease right-of-use assets | 435,884,000 | 431,455,000 | 425,536,000 | 432,801,000 | 438,692,000 | 451,930,000 | 476,027,000 | 495,435,000 | 459,033,000 | 398,922,000 | 163,008,000 | 131,795,000 | 136,681,000 | 144,168,000 | 144,168,000 | 124,944,000 | 133,488,000 | |
property and equipment | 36,806,000 | 32,281,000 | 33,311,000 | 33,870,000 | 32,688,000 | 29,498,000 | 29,010,000 | 22,721,000 | 22,763,000 | 24,614,000 | 12,706,000 | 12,452,000 | 12,818,000 | 13,053,000 | 13,053,000 | 13,244,000 | 13,341,000 | |
intangible assets | 4,936,000 | 4,978,000 | 5,283,000 | 5,588,000 | 5,893,000 | 6,198,000 | 6,739,000 | 7,279,000 | 7,820,000 | 8,367,000 | ||||||||
goodwill | 12,900,000 | 12,586,000 | 12,586,000 | 12,586,000 | 12,586,000 | 12,586,000 | 12,586,000 | 12,586,000 | 12,586,000 | 12,586,000 | ||||||||
deferred tax assets | 14,369,000 | 12,981,000 | 11,021,000 | 11,007,000 | 11,366,000 | 10,026,000 | 8,325,000 | 7,854,000 | 3,360,000 | 1,440,000 | 71,000 | 71,000 | 75,000 | 75,000 | 75,000 | 327,000 | 1,197,000 | |
other non-current assets | 16,388,000 | 17,516,000 | 14,385,000 | 9,663,000 | 10,607,000 | 12,645,000 | 12,934,000 | 15,778,000 | 11,392,000 | 8,173,000 | 12,507,000 | 3,157,000 | 3,188,000 | 3,182,000 | 3,182,000 | 2,924,000 | 3,003,000 | |
total non-current assets | 521,283,000 | 511,797,000 | 502,122,000 | 505,515,000 | 511,832,000 | 522,883,000 | 545,621,000 | 561,653,000 | 516,954,000 | 454,102,000 | 188,292,000 | 147,475,000 | 152,762,000 | 160,478,000 | 160,478,000 | 141,439,000 | 151,029,000 | |
total assets | 1,230,218,000 | 1,202,459,000 | 1,124,111,000 | 1,082,775,000 | 1,091,037,000 | 1,070,475,000 | 1,073,343,000 | 1,055,023,000 | 977,608,000 | 846,909,000 | 529,776,000 | 455,050,000 | 437,198,000 | 418,600,000 | 418,600,000 | 372,062,000 | 335,323,000 | |
liabilities and shareholders’ equity | ||||||||||||||||||
current liabilities | ||||||||||||||||||
accounts payable | 105,407,000 | 78,163,000 | 40,203,000 | 34,808,000 | 33,349,000 | 31,573,000 | 31,573,000 | 30,432,000 | 30,756,000 | |||||||||
contract liabilities | 6,459,000 | 4,486,000 | 3,735,000 | 2,093,000 | 2,126,000 | 2,001,000 | 2,001,000 | 2,079,000 | 2,615,000 | |||||||||
current operating lease liabilities | 100,326,000 | 88,521,000 | 32,893,000 | 29,003,000 | 27,681,000 | 27,653,000 | 27,653,000 | 29,043,000 | 29,049,000 | |||||||||
income tax payable | 17,509,000 | 13,615,000 | 9,737,000 | 4,752,000 | 7,828,000 | 4,142,000 | 4,142,000 | 4,473,000 | 4,099,000 | |||||||||
accrued expenses and other current liabilities | 112,547,000 | 79,594,000 | 53,868,000 | 45,685,000 | 41,750,000 | 37,062,000 | 37,062,000 | 27,064,000 | 22,511,000 | |||||||||
total current liabilities | 342,248,000 | 264,379,000 | 140,443,000 | 116,393,000 | 112,865,000 | 102,638,000 | 102,638,000 | 93,341,000 | 89,323,000 | |||||||||
non-current liabilities | ||||||||||||||||||
operating lease liabilities, non-current | 368,321,000 | 395,235,000 | 131,496,000 | 103,721,000 | 109,499,000 | 116,564,000 | 116,564,000 | 95,640,000 | 105,038,000 | |||||||||
deferred tax liabilities | 797,000 | 941,000 | 327,000 | 425,000 | 327,000 | 472,000 | 472,000 | 296,000 | ||||||||||
finance lease obligations, non-current | 690,000 | 382,000 | 83,000 | 492,000 | 389,000 | 867,000 | 1,467,000 | 2,130,000 | ||||||||||
non-current income tax payable | 4,604,000 | 4,321,000 | 3,229,000 | 3,014,000 | 2,954,000 | 2,894,000 | 2,894,000 | 3,418,000 | 3,397,000 | |||||||||
contingent consideration | ||||||||||||||||||
total non-current liabilities | 374,412,000 | 400,879,000 | 135,135,000 | 107,652,000 | 113,169,000 | 120,797,000 | 120,797,000 | 100,533,000 | 110,916,000 | |||||||||
total liabilities | 716,660,000 | 665,258,000 | 275,578,000 | 224,045,000 | 226,034,000 | 223,435,000 | 223,435,000 | 193,874,000 | 200,239,000 | |||||||||
commitments and contingencies | ||||||||||||||||||
note | 2,025,000 | 2,024,000 | ||||||||||||||||
shareholders’ equity | ||||||||||||||||||
treasury shares, at cost | -7,126,000 | -1,595,000 | ||||||||||||||||
class a ordinary shares | 1,495,000 | 1,582,000 | ||||||||||||||||
class b ordinary shares | 363,000 | 466,000 | ||||||||||||||||
additional paid-in capital | 88,674,000 | 111,328,000 | ||||||||||||||||
accumulated other comprehensive income | 1,527,000 | 294,000 | ||||||||||||||||
retained earnings | 400,866,000 | 142,123,000 | ||||||||||||||||
total shareholders’ equity | 485,799,000 | 254,198,000 | ||||||||||||||||
total liabilities and shareholders’ equity | 1,202,459,000 | 529,776,000 | ||||||||||||||||
cash | 185,214,000 | 183,283,000 | 213,986,000 | 181,506,000 | 162,663,000 | 143,531,000 | 143,531,000 | 116,184,000 | 49,189,000 | |||||||||
current portion of long-term borrowings | 7,000 | 52,000 | 131,000 | 207,000 | 207,000 | 250,000 | 293,000 | |||||||||||
revenues | 31,514,000 | |||||||||||||||||
net income | -299,000 | |||||||||||||||||
us | ||||||||||||||||||
subscription receivable from ordinary shares | ||||||||||||||||||
liabilities, mezzanine equity and shareholders’ equity | ||||||||||||||||||
long-term borrowings | 8,000 | 55,000 | ||||||||||||||||
capital lease obligations | 867,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-05-24 | 2023-03-31 | 2022-12-31 | 2022-11-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||
net income | 38,124,000 | 38,499,000 | 37,175,000 | 34,552,000 | 27,146,000 | 30,959,000 | 40,685,000 | 26,969,000 | 27,195,000 | 35,575,000 | 24,202,000 | 18,390,000 | 15,941,000 | 15,941,000 | 12,476,000 | 657,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||
depreciation and amortization | 2,226,000 | 2,028,000 | 2,115,000 | 2,140,000 | 2,049,000 | 2,271,000 | 2,108,000 | 2,064,000 | 2,081,000 | 1,723,000 | 390,000 | 380,000 | 380,000 | 380,000 | 349,000 | 378,000 |
share-based compensation | 345,000 | 349,000 | 349,000 | 3,026,000 | 1,227,000 | 1,245,000 | 1,433,000 | 13,872,000 | 275,000 | 429,000 | 317,000 | 1,510,000 | 247,000 | 247,000 | 110,000 | 8,887,000 |
operating lease | 992,000 | 1,754,000 | 557,000 | 1,901,000 | 1,125,000 | 4,086,000 | 6,177,000 | 10,213,000 | 8,806,000 | |||||||
changes in accounts receivables | -10,159,000 | -5,744,000 | 9,658,000 | -668,000 | -9,011,000 | |||||||||||
changes in inventories | -43,458,000 | -12,276,000 | 9,693,000 | 21,911,000 | -30,845,000 | |||||||||||
changes in prepayments and other assets | -128,000 | -227,000 | -5,032,000 | 3,247,000 | -3,217,000 | |||||||||||
changes in accounts payable, accrued expenses and other current liabilities | -17,430,000 | 34,683,000 | 18,276,000 | -14,604,000 | 14,551,000 | |||||||||||
changes in contract liabilities | -492,000 | 1,202,000 | -721,000 | 200,000 | 1,096,000 | |||||||||||
changes in income tax payable | 6,503,000 | 5,860,000 | 4,755,000 | -13,324,000 | 6,418,000 | |||||||||||
changes in deferred income taxes | 33,000 | -1,870,000 | 58,000 | 316,000 | -1,511,000 | |||||||||||
other operating activities | 1,709,000 | 110,000 | 1,367,000 | -88,000 | 405,000 | |||||||||||
net cash from operating activities | -21,735,000 | 64,368,000 | 78,250,000 | 38,609,000 | 9,433,000 | 68,418,000 | 55,243,000 | 19,108,000 | 15,309,000 | 50,730,000 | 44,081,000 | 18,295,000 | 20,346,000 | 20,346,000 | 26,321,000 | 33,644,000 |
capital expenditures | -3,913,000 | -2,711,000 | -1,190,000 | -1,577,000 | -2,395,000 | -1,498,000 | -3,842,000 | -6,203,000 | -3,993,000 | -3,557,000 | -665,000 | -21,000 | -93,000 | -471,000 | ||
free cash flows | -25,648,000 | 61,657,000 | 77,060,000 | 37,032,000 | 7,038,000 | 66,920,000 | 51,401,000 | 12,905,000 | 11,316,000 | 47,173,000 | 43,416,000 | 18,274,000 | 26,228,000 | 33,173,000 | ||
cash flows from investing activities: | ||||||||||||||||
purchases of property and equipment | -4,468,000 | -2,711,000 | -1,190,000 | -1,577,000 | -2,395,000 | |||||||||||
disposals of property and equipment | 22,000 | 60,000 | 22,000 | 75,000 | 34,000 | |||||||||||
acquisitions, net of cash acquired | -13,329,000 | |||||||||||||||
purchases of investments | -24,825,000 | -10,000,000 | -17,393,000 | -42,301,000 | -25,000,000 | -20,284,000 | -31,704,000 | -11,843,000 | -10,000,000 | |||||||
sales and maturities of investments | 27,793,000 | 46,301,000 | 15,000,000 | 31,986,000 | ||||||||||||
net cash from investing activities | -14,807,000 | -8,651,000 | 27,740,000 | -28,803,000 | 4,625,000 | -1,377,000 | -23,639,000 | -17,935,000 | -12,468,000 | -81,226,000 | -9,163,000 | -21,000 | -137,000 | -137,000 | -93,000 | -471,000 |
cash flows from financing activities: | ||||||||||||||||
repayment of finance lease obligations | -148,000 | -93,000 | -106,000 | -144,000 | -34,000 | -137,000 | -440,000 | -554,000 | -595,000 | -562,000 | -741,000 | -69,000 | -840,000 | -840,000 | -819,000 | |
repurchases of ordinary shares | -12,267,000 | -10,030,000 | -11,344,000 | -23,295,000 | -22,734,000 | |||||||||||
net cash from financing activities | -12,415,000 | -10,123,000 | -11,450,000 | -23,439,000 | -22,768,000 | -23,380,000 | -440,000 | -554,000 | -595,000 | -569,000 | -2,380,000 | -138,000 | -916,000 | -916,000 | -1,961,000 | 34,448,000 |
effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | -546,000 | -608,000 | 204,000 | 2,035,000 | 674,000 | 635,000 | ||||||||||
net decrease in cash, cash equivalents and restricted cash | -49,503,000 | |||||||||||||||
cash, cash equivalents and restricted cash at the beginning of the period | 380,540,000 | 0 | 0 | 260,444,000 | 0 | |||||||||||
cash, cash equivalents and restricted cash at the end of the period | 331,037,000 | 94,744,000 | -11,598,000 | 252,408,000 | 31,799,000 | |||||||||||
supplemental disclosure of cash flow information | ||||||||||||||||
cash paid for interest expense | 120,000 | 71,000 | 32,000 | 23,000 | 29,000 | 87,000 | 59,000 | 81,000 | ||||||||
cash paid for income taxes | 1,196,000 | 2,222,000 | 19,287,000 | 552,000 | 7,412,000 | 2,327,000 | 14,966,000 | 1,596,000 | ||||||||
non-cash investing and financing activities: | ||||||||||||||||
purchase of property and equipment under finance leases | 555,000 | 0 | 0 | |||||||||||||
contingent consideration and consideration payable | 4,280,000 | |||||||||||||||
advances paid for the acquisition | ||||||||||||||||
sale and maturities of investments | 20,002,000 | |||||||||||||||
repayment of bank loans | -7,000 | -45,000 | -69,000 | -76,000 | -76,000 | -72,000 | -71,000 | |||||||||
net increase in cash, cash equivalents and restricted cash | 44,986,000 | 94,744,000 | -11,598,000 | -8,036,000 | 31,799,000 | |||||||||||
cash, cash equivalents and restricted cash at the beginning of the year | ||||||||||||||||
cash, cash equivalents and restricted cash at the end of the year | ||||||||||||||||
cash paid for purchase of property and equipment | -1,498,000 | -3,842,000 | -6,203,000 | -3,993,000 | -3,557,000 | -665,000 | -21,000 | -137,000 | -137,000 | -93,000 | -471,000 | |||||
cash received from disposal of property and equipment | 403,000 | 64,000 | 111,000 | 1,525,000 | ||||||||||||
proceeds from prepaid consideration of restricted shares | 0 | 0 | ||||||||||||||
proceeds from initial public offering, net of ipo costs | -1,070,000 | |||||||||||||||
effect of foreign currency exchange rate changes on cash and restricted cash | -306,000 | 341,000 | -50,000 | 58,000 | -159,000 | -159,000 | 3,082,000 | -625,000 | ||||||||
net increase in cash and restricted cash | 1,940,000 | -30,724,000 | 32,488,000 | 18,194,000 | 19,134,000 | 27,349,000 | ||||||||||
cash and restricted cash at the beginning of the year | ||||||||||||||||
cash and restricted cash at the end of the year | ||||||||||||||||
share based awards attributable to the ipo where no cash payment is required | ||||||||||||||||
reversal of subscription receivable from ordinary shares | ||||||||||||||||
fair value of assets acquired by acquisition | ||||||||||||||||
cash paid for business combinations and asset purchases | ||||||||||||||||
liabilities assumed by acquisition | ||||||||||||||||
allowance for doubtful accounts | 66,000 | 244,000 | 63,000 | 34,000 | 226,000 | -52,000 | 55,000 | 55,000 | 81,000 | -33,000 | ||||||
inventory write-down | -88,000 | 487,000 | 304,000 | -217,000 | -417,000 | 1,063,000 | 242,000 | 242,000 | -238,000 | -2,420,000 | ||||||
loss on other assets | 0 | |||||||||||||||
deferred tax | -1,080,000 | -4,843,000 | -2,034,000 | 539,000 | -98,000 | 102,000 | -145,000 | -145,000 | 724,000 | 574,000 | ||||||
loss from disposal of property and equipment | 45,000 | 162,000 | 6,000 | |||||||||||||
unrealized foreign currency exchange losses | ||||||||||||||||
others | -838,000 | 37,000 | 1,859,000 | |||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||
accounts receivable | 7,245,000 | -10,449,000 | -632,000 | -509,000 | -1,249,000 | -595,000 | -2,705,000 | -2,705,000 | -5,030,000 | 1,309,000 | ||||||
inventories | 15,349,000 | -11,947,000 | -56,047,000 | -11,590,000 | 2,829,000 | -5,409,000 | -2,344,000 | -2,344,000 | 5,315,000 | 22,390,000 | ||||||
prepayments and other assets | -3,853,000 | 913,000 | -2,289,000 | |||||||||||||
accounts payable | -13,041,000 | -6,965,000 | 16,881,000 | 17,677,000 | 5,432,000 | 1,177,000 | 1,738,000 | 1,738,000 | 1,327,000 | -324,000 | ||||||
contract liabilities | -1,101,000 | -1,048,000 | 2,045,000 | -298,000 | 1,679,000 | -33,000 | 125,000 | 125,000 | -78,000 | -536,000 | ||||||
income tax payable | 6,182,000 | -6,813,000 | 6,552,000 | 5,326,000 | 5,307,000 | -3,353,000 | 3,697,000 | 3,697,000 | -803,000 | 585,000 | ||||||
accrued expenses and other current liabilities | -2,664,000 | 5,766,000 | 11,005,000 | 1,185,000 | 9,166,000 | 4,533,000 | 5,350,000 | 5,350,000 | 10,449,000 | 3,616,000 | ||||||
payment of share repurchase | 0 | |||||||||||||||
unrealized foreign currency exchange gains | 44,000 | -686,000 | -1,220,000 | 555,000 | 112,000 | -419,000 | -419,000 | |||||||||
interest income | -75,000 | |||||||||||||||
cash and restricted cash at the beginning of the period | 184,168,000 | 0 | 0 | 145,076,000 | 145,076,000 | 0 | ||||||||||
cash and restricted cash at the end of the period | 186,108,000 | 32,488,000 | 18,194,000 | 164,210,000 | 164,210,000 | 66,996,000 | ||||||||||
interest expense of capital leases | ||||||||||||||||
changes in operating assets and liabilities, net of businesses acquired: | ||||||||||||||||
us | ||||||||||||||||
operating activities: | ||||||||||||||||
lease expense to reduce right-of-use assets | 7,939,000 | 8,298,000 | 7,067,000 | 7,067,000 | -19,224,000 | 8,544,000 | ||||||||||
gain from disposal of property and equipment | ||||||||||||||||
prepayments and other current assets | -4,708,000 | 40,000 | -2,266,000 | -2,266,000 | -801,000 | -579,000 | ||||||||||
operating lease liabilities | -7,487,000 | -7,868,000 | -6,617,000 | -6,617,000 | 19,534,000 | -9,404,000 | ||||||||||
investing activities: | ||||||||||||||||
proceeds from disposal of property and equipment | ||||||||||||||||
financing activities: | ||||||||||||||||
supplemental information | ||||||||||||||||
interest expense paid | 215,000 | 804,000 | 113,000 | 113,000 | 129,000 | 139,000 | ||||||||||
income taxes paid | 380,000 | 7,520,000 | 204,000 | 204,000 | 2,454,000 | 824,000 | ||||||||||
settlement of subscription receivable from ordinary shares | 0 | |||||||||||||||
net (decrease)/increase in cash and restricted cash | 19,134,000 | |||||||||||||||
depreciation | ||||||||||||||||
interest expense of capital lease | ||||||||||||||||
cash paid for capital lease obligations | ||||||||||||||||
purchase of property and equipment included in capital lease obligations | ||||||||||||||||
proceeds from issuance of series e preferred shares | ||||||||||||||||
repurchase of vested share-based awards | ||||||||||||||||
repayment of borrowings from a related party | ||||||||||||||||
proceeds from bank loans | ||||||||||||||||
adjustments to reconcile net income to net cash from operating activities | ||||||||||||||||
cash paid for finance lease obligations | ||||||||||||||||
net decrease in cash and restricted cash |