GigaCloud sees Q4 revenue $275M-$290M , consensus $325.97M

The Company expects its total revenues to be between $275 million and $290 million in the fourth quarter of 2024. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.”In recognition of GigaCloud’s (GCT) substantial progress and optimistic outlook for the future, our board authorized a $46 million share repurchase program on September 3, 2024.” said Erica Wei, interim Chief Financial Officer. “As of November 6, 2024, we have purchased approximately $11.4 million shares pursuant to a repurchase plan under Rule 10b5-1. Our commitment to maximizing shareholder value is grounded in thoughtful capital deployment decisions. In line with this approach, we plan to retire the shares repurchased to date under the authorization, which will effectively reduce the Company’s total issued shares and underscore our dedication to sustainable, long-term value creation.”