0001857816-24-000066 | 10-K | XBRL Viewer

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Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 37,730	$ 27,175
Operating cash flows from finance leases	532	557
Financing cash flows from finance leases	2,212	3,624	$ 2,526
Right-of-use assets obtained in exchange for lease obligations
Operating leases	291,816	24,270
Finance leases	$ 207	$ 2,719

Share-Based Compensation - Schedule of share options activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of shares
Number of share options outstanding at the beginning of the year (in shares)	4,556,061	4,170,627	4,597,156
Number of share options granted (in shares)		385,434	1,160,557
Exercise of vested share-based awards (in shares)	(4,556,061)		(1,587,086)
Number of share options outstanding at the end of the year (in shares)	0	4,556,061	4,170,627
Number of share options exercisable at year end (in shares)		0
Weighted average exercise price
Weighted average exercise price , beginning (in USD per share)	$ 0.05	$ 0.05	$ 0.05
Weighted average exercise price for share options granted in the period (in USD per share)		0.05	0.05
Weighted average exercise price for share options exercised in the period (in USD per share)	0.05		0.05
Weighted average exercise price , ending (in USD per share)	0	0.05	0.05
Weighted average exercise price for share options exercisable at year end (in USD per share)		0
Weighted average grant- date fair value
Weighted average fair value at grant date , beginning (in USD per share)	1.15	0.57	1.08
Weighted average fair value at grant date for share options granted in the period (in USD per share)		7.43	6.10
Weighted average fair value at grant date for share options exercised in the period (in USD per share)	1.15		6.10
Weighted average fair value at grant date , ending (in USD per share)	$ 0	1.15	$ 0.57
Weighted average fair value at grant date for share options exercisable at year end (in USD per share)		$ 0

Restricted Net Assets - Additional Information (Detail)	12 Months Ended
Restricted Net Assets - Additional Information (Detail)	Dec. 31, 2023
Restricted Net Assets [Line Items]
Threshold percentage under Rule 5-04 (c)	25.00%
The PRC, excluding Hong Kong S.A.R.
Restricted Net Assets [Line Items]
Minimum percentage of allocation of annual after tax profits to the general reserve fund	10.00%
Threshold percentage of general reserve fund to registered capital	50.00%
Minimum percentage of allocation of annual after tax profits to the statutory surplus fund	10.00%
Threshold percentage of statutory surplus fund to registered capital	50.00%
Percentage of annual appropriations	10.00%

Borrowings

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Borrowings

BORROWINGS


	December 31,
	2022		2023
	(In thousands)
Unsecured bank loans	$	207	$	—
Long-term borrowings	207		—
Current portion of long-term borrowings	207		—
Long-term borrowings, excluding current portion	$	—	$	—

In July and October of 2020, the Group borrowed two three-year loans from MIZUHO Bank with the principal amounts of $375 thousand and $756 thousand, respectively. The loans bear no interest and are guaranteed by the chairman of the board of Oriental Standard Japan Co., Ltd. The Group repaid the bank loans during the years ended December 31, 2021, 2022 and 2023. As of December 31, 2023, all loans were fully repaid.

Prepayments and Other Current Assets - Schedule of Prepayments And Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Value-added taxes recoverable	$ 0	$ 201
Advances to suppliers	2,031	1,067
Amounts due from third-party payment platforms	9,945	3,814
Deposits	270	29
Prepaid expenses	3,451	1,405
Others	1,819	1,050
Prepayments and other current assets	$ 17,516	$ 7,566

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss)	$ 94,108	$ 23,972	$ 29,257

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor infomation [Abstract]
Auditor Firm ID	1186
Auditor Name	KPMG Huazhen LLP
Auditor Location	Shanghai, People’s Republic of China

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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+ Details

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of the estimated fair values of the share options granted

Prior to the completion of the IPO, the fair values of share options granted are estimated on the dates of grant using the binomial option pricing model with the following assumptions used:


	Year ended December 31,
Grant dates:	2021	2022
Risk-free rate of return	1.46%	1.80%
Volatility	44.17%	43.60%
Expected dividend yield	0.00%	0.00%
Exercise multiple	2.20/2.80	2.20/2.80
Fair value of underlying ordinary share	$6.15	$7.5
Expected terms	10 years	10 years

Schedule of share options activity

The following table summarizes activities of share options for the years ended December 31, 2021, 2022 and 2023.


	Number of shares	Weighted average exercise price		Weighted average grant- date fair value

Outstanding at January 1, 2021	4,597,156	$	0.05	$	1.08
Granted	1,160,557	0.05		6.10
Exercised	(1,587,086)	0.05		6.10
Outstanding at December 31, 2021	4,170,627	$	0.05	$	0.57
Granted	385,434	0.05		7.43
Outstanding at December 31, 2022	4,556,061	$	0.05	$	1.15
Exercised	(4,556,061)	0.05		1.15
Outstanding at December 31, 2023	—	—		—
Exercisable at December 31, 2023	—	—		—

Schedule of the compensation expenses recognized

Total compensation expenses recognized are allocated to the following expense items.


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Cost of revenues	$	—	$	487	$	—
Selling and marketing expenses	—		748		—
General and administrative expenses	9,681		7,652		—
Research and development expenses	—		—		—
Total share compensation expenses	$	9,681	$	8,887	$	—

Compensation expenses recognized in connection with RSUs are allocated to the following expense items.


	Year ended December 31,
	2021	2022	2023
	(In thousands)
Cost of revenues	—	—	$	9
Selling and marketing expenses	—	—	169
General and administrative expenses	—	—	1,501
Research and development expenses	—	—	211
Total share compensation expenses	—	—	$	1,890

Schedule of the restricted shares

A summary of the Company’s restricted shares for the year ended December 31, 2022 is presented below:


	Number of shares	Weighted average grant date fair value
Outstanding as of January 1, 2022	—	$	—
Granted	220,898	0.2690
Vested	(151,864)	0.3906
Outstanding as of December 31, 2022	69,034	0.0015
Expect to be vested at December 31, 2022	69,034	$	0.0015

A summary of the Company’s restricted shares for the year ended December 31, 2023 is presented below:


	Number of shares	Weighted average grant date fair value
Outstanding as of January 1, 2023	69,034	$	0.0015
Vested	(58,489)	0.0015
Outstanding as of December 31, 2023	10,545	0.0015
Expect to be vested at December 31, 2023	10,545	$	0.0015

Schedule of restricted stock unit activity

A summary of the Group's RSUs activities for the year ended December 31, 2023 is presented below:


	Number of shares	Weighted average exercise price		Weighted average grant-date fair value		Weighted remaining contractual years	Aggregate intrinsic value
Outstanding as of January 1, 2023	—	—		—		—	—
Granted	412,397	—		5.23		—	—
Outstanding as of December 31, 2023	412,397	—		5.23		9.34	2,157
Exercisable as of December 31, 2023	252,624	$	—	$	5.37	9.35	$	1,358

Preferred Shares - Narrative Series E (Details) - Series E Preferred Shares - Redeemable convertible preferred stock $ / shares in Units, $ in Thousands	Nov. 24, 2020 USD ($) $ / shares shares
Honey SuckLe Creek Limited
Temporary Equity [Line Items]
Temporary equity stock shares issued during the period (in shares)	2,719,802
Huay Yuan International Limited
Temporary Equity [Line Items]
Temporary equity stock shares issued during the period (in shares)	1,279,907
Honey Suckle Creek Limited and Huay Yuan International Limited
Temporary Equity [Line Items]
Temporary equity stock shares issued during the period (in shares)	3,999,709
Temporary equity shares issued (in USD per share) \| $ / shares	$ 6.25
Proceeds from issuance of redeemable convertible preferred stock \| $	$ 25,000

Accounts Payable

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accounts payable

ACCOUNTS PAYABLE


	December 31,
	2022		2023
	(In thousands)
Vendor payable	$	10,472	$	29,753
Shipping charges payable and others	21,101		40,004
Accounts payable	$	31,573	$	69,757

Leases - Schedule of Lease Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating lease cost
Operating lease cost	$ 40,215	$ 29,564
Finance lease cost
Amortization of right-of-use assets	680	653
Interest on lease liabilities	532	557
Short-term lease costs	351	307
Total	$ 41,778	$ 31,081

Income Tax - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net operating losses carryforwards	$ 2,821	$ 2,786
Inventories under the uniform capitalization (UNICAP) rules	1,031	744
Inventory write-down	553	672
Accrued expenses and other current liabilities	352	308
Operating lease liabilities, current and non-current	62,904	33,494
Others	141	157
Less: valuation allowance	(2,821)	(2,786)	$ (1,204)
Total deferred tax assets, net	64,981	35,375
Tax impact of full expensing of qualified property and equipment	(4,776)	(2,370)
Intangibles	(1,608)	0
Finance leases	(133)	(80)
Operating lease right-of-use assets	(60,819)	(33,322)
Total gross deferred income tax liabilities	(67,336)	(35,772)
Net deferred liabilities	$ (2,355)	$ (397)

Accounts Receivables, Net - Schedule of Movement of the Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Balance as of the beginning of the year	$ (237)	$ (151)	$ (64)
Additions charged to bad debt expense	(263)	(86)	(87)
Balance as of the end of the year	$ (500)	$ (237)	$ (151)

Preferred Shares - Narrative Remaining (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common stock
Temporary Equity [Line Items]
Percentage of votes required	51.00%	51.00%	51.00%
Drag along rights \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Number of days notice	5 days	5 days	5 days
Series B preferred stock \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Conversion ratio	1	1	1
Percentage of votes in terms of value	75.00%	75.00%	75.00%
Preferred stock, dividend rate, percentage	8.00%	8.00%	8.00%
Liquidation preference percentage	100.00%	100.00%	100.00%
Series B preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Percentage of votes required	75.00%	75.00%	75.00%
Series B preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock \| Triggering of rights before the fifth anniversary
Temporary Equity [Line Items]
Estimated minimum proceeds from preferred stock	$ 40	$ 40	$ 40
Series C preferred stock \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Conversion ratio	1	1	1
Percentage of votes in terms of value	75.00%	75.00%	75.00%
Preferred stock, dividend rate, percentage	8.00%	8.00%	8.00%
Liquidation preference percentage	100.00%	100.00%	100.00%
Series C preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Percentage of votes required	75.00%	75.00%	75.00%
Series C preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock \| Triggering of rights before the fifth anniversary
Temporary Equity [Line Items]
Estimated minimum proceeds from preferred stock	$ 40	$ 40	$ 40
Series A preferred stock \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Conversion ratio	1	1	1
Percentage of votes in terms of value	75.00%	75.00%	75.00%
Preferred stock, dividend rate, percentage	8.00%	8.00%	8.00%
Liquidation preference percentage	100.00%	100.00%	100.00%
Series A preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Percentage of votes required	75.00%	75.00%	75.00%
Series A preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock \| Triggering of rights before the fifth anniversary
Temporary Equity [Line Items]
Estimated minimum proceeds from preferred stock	$ 40	$ 40	$ 40
Series D preferred stock \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Conversion ratio	1	1	1
Percentage of votes in terms of value	75.00%	75.00%	75.00%
Preferred stock, dividend rate, percentage	8.00%	8.00%	8.00%
Liquidation preference percentage	100.00%	100.00%	100.00%
Series D preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock
Temporary Equity [Line Items]
Percentage of votes required	75.00%	75.00%	75.00%
Number of days notice	5 days	5 days	5 days
Series D preferred stock \| Drag along rights \| Nonredeemable convertible preferred stock \| Triggering of rights before the fifth anniversary
Temporary Equity [Line Items]
Estimated minimum proceeds from preferred stock	$ 150	$ 150	$ 150
Series E Preferred Shares \| Redeemable convertible preferred stock
Temporary Equity [Line Items]
Time to complete a qualified IPO	7 years	7 years	7 years
Temporary equity redemption price (in percent)	100.00%	100.00%	100.00%
Temporary equity interest rate percentage on redemption price (in percent)	6.00%	6.00%	6.00%
Conversion ratio	1	1	1
Percentage of votes in terms of value	75.00%	75.00%	75.00%
Preferred stock, dividend rate, percentage	8.00%	8.00%	8.00%
Temporary equity liquidation preference percentage	100.00%	100.00%	100.00%
Series E Preferred Shares \| Drag along rights \| Redeemable convertible preferred stock
Temporary Equity [Line Items]
Percentage of votes required	75.00%	75.00%	75.00%
Number of days notice	5 days	5 days	5 days
Series E Preferred Shares \| Drag along rights \| Redeemable convertible preferred stock \| Triggering of rights before the fifth anniversary
Temporary Equity [Line Items]
Estimated minimum proceeds from preferred stock	$ 150	$ 150	$ 150

Business Combinations - ProForma Information (Details) - Noble House Home Furnishings LLC - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues	$ 1,003,312	$ 981,025	$ 1,085,348
Net income (loss)	$ 55,984	$ (9,083)	$ 36,712

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 94,108	$ 23,972	$ 29,257
Adjustments to reconcile net income to net cash provided by operating activities:
Allowance for doubtful accounts	263	86	87
Inventory write-down	671	318	1,285
Deferred tax	398	183	131
Share-based compensation	2,503	9,196	9,681
Depreciation and amortization	2,873	1,386	775
Loss from disposal of property and equipment	3,236	4	0
Operating lease	2,485	2,389	0
Unrealized foreign currency exchange gains (losses)	(972)	2,126	2,012
Interest expense of capital leases (ASC 840)	0	0	198
Changes in operating assets and liabilities, net of businesses acquired:
Accounts receivable	(5,058)	(9,161)	5,897
Inventories	(16,514)	2,785	(47,148)
Prepayments and other assets	(9,249)	(1,384)	(1,717)
Accounts payable	26,024	6,619	6,309
Contract liabilities	1,473	(1,689)	266
Income tax payable	10,977	(1,530)	1,315
Accrued expenses and other current liabilities	20,234	14,356	208
Net cash provided by operating activities	133,452	49,656	8,556
Cash flows from investing activities:
Cash paid for purchase of property and equipment	(4,380)	(709)	(1,825)
Cash received from disposal of property and equipment	462	0	0
Acquisitions, net of cash acquired	(86,629)	0	0
Net cash used in investing activities	(90,547)	(709)	(1,825)
Cash flows from financing activities:
Repayment of finance lease obligations	(2,212)	(3,624)	(2,526)
Repayment of bank loans	(197)	(312)	(430)
Payment of share repurchase	(1,594)	0	0
Proceeds from prepaid consideration of restricted shares	0	1,578	0
Proceeds from initial public offering, net of IPO costs	0	34,245	0
Net cash provided by (used in) financing activities	(4,003)	31,887	(2,956)
Effect of foreign currency exchange rate changes on cash and restricted cash	190	380	(2,110)
Net increase in cash and restricted cash	39,092	81,214	1,665
Cash and restricted cash at the beginning of the year	145,076	63,862	62,197
Cash and restricted cash at the end of the year	184,168	145,076	63,862
Supplemental disclosure of cash flow information
Cash paid for interest expense	1,240	568	309
Cash paid for income taxes	9,512	8,539	7,022
Non-cash investing and financing activities:
Purchase of property and equipment under finance leases	0	2,719	4,086
Share based awards attributable to the IPO where no cash payment is required	0	807	0
Reversal of subscription receivable from ordinary shares	312	0	0
Fair value of assets acquired by acquisition	273,086	0	0
Cash paid for business combinations and asset purchases	87,568	0	0
Liabilities assumed by acquisition	$ (185,518)	$ 0	$ 0

Net Income per Ordinary Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of basic and diluted net income per ordinary share

The following table sets forth the basic and diluted net income per ordinary share computation and provides a reconciliation of the numerator and denominator for the years presented:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Numerator:
Net income	$	29,257	$	23,972	$	94,108
Net income attributable to preferred shareholders	(18,777)		(8,352)		—
Accretion of Series E Preferred Shares	(1,500)		(941)		—
Net income per ordinary share calculation	$	8,980	$	14,679	$	94,108
Denominator:
Weighted average number of ordinary shares outstanding
- Basic	10,248,079		24,412,314		40,788,448
- Diluted	10,248,079		24,412,314		40,922,590
Net income per ordinary share attributable to ordinary shareholders
- Basic	$	0.88	$	0.60	$	2.31
- Diluted	$	0.88	$	0.60	$	2.30

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method

The potential dilutive securities that have been included in the calculation of diluted net income per ordinary share are presented as follow:


	Year ended December 31,
	2021	2022	2023
RSU	—	—	103,879
RS	—	—	30,263

Summary of Significant Accounting Policies - Summary of Cash Deposited (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents, at carrying value	$ 183,283	$ 143,531
The United States
Cash and cash equivalents, at carrying value	84,242	47,084
The United States \| USD
Cash and cash equivalents, at carrying value	83,961	47,028
The United States \| GBP
Cash and cash equivalents, at carrying value	80	56
The United States \| CAD
Cash and cash equivalents, at carrying value	192	0
The United States \| MXN
Cash and cash equivalents, at carrying value	9	0
Hong Kong S.A.R.
Cash and cash equivalents, at carrying value	45,694	42,753
Hong Kong S.A.R. \| USD
Cash and cash equivalents, at carrying value	3,078	40,001
Hong Kong S.A.R. \| EUR
Cash and cash equivalents, at carrying value	22,955	734
Hong Kong S.A.R. \| GBP
Cash and cash equivalents, at carrying value	6,756	1,635
Hong Kong S.A.R. \| JPY
Cash and cash equivalents, at carrying value	12,871	316
Hong Kong S.A.R. \| HKD
Cash and cash equivalents, at carrying value	34	67
Japan
Cash and cash equivalents, at carrying value	14,120	8,045
Japan \| USD
Cash and cash equivalents, at carrying value	65	1,405
Japan \| JPY
Cash and cash equivalents, at carrying value	14,055	6,640
United Kingdom
Cash and cash equivalents, at carrying value	1,544	3,276
United Kingdom \| USD
Cash and cash equivalents, at carrying value	273	14
United Kingdom \| EUR
Cash and cash equivalents, at carrying value	628	3,158
United Kingdom \| GBP
Cash and cash equivalents, at carrying value	643	104
The PRC, excluding Hong Kong S.A.R.
Cash and cash equivalents, at carrying value	34,138	41,513
The PRC, excluding Hong Kong S.A.R. \| USD
Cash and cash equivalents, at carrying value	1,130	31,961
The PRC, excluding Hong Kong S.A.R. \| EUR
Cash and cash equivalents, at carrying value	16,092	1,066
The PRC, excluding Hong Kong S.A.R. \| GBP
Cash and cash equivalents, at carrying value	8,359	6,870
The PRC, excluding Hong Kong S.A.R. \| RMB
Cash and cash equivalents, at carrying value	8,557	1,616
Germany
Cash and cash equivalents, at carrying value	3,459	816
Germany \| USD
Cash and cash equivalents, at carrying value	468	0
Germany \| EUR
Cash and cash equivalents, at carrying value	2,960	816
Germany \| GBP
Cash and cash equivalents, at carrying value	31	0
Vietnam
Cash and cash equivalents, at carrying value	83	44
Vietnam \| USD
Cash and cash equivalents, at carrying value	1	0
Vietnam \| VND
Cash and cash equivalents, at carrying value	81	44
Vietnam \| RMB
Cash and cash equivalents, at carrying value	1	0
Malaysia
Cash and cash equivalents, at carrying value	3	0
Malaysia \| MYR
Cash and cash equivalents, at carrying value	$ 3	$ 0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Cash Deposited

Cash consists of deposits at financial institutions. Cash is deposited into financial institutions at the locations listed below:


	December 31,
	2022		2023
	(In thousands)
Financial institutions in the United States
- Denominated in USD	$	47,028	$	83,961
- Denominated in GBP	56		80
- Denominated in CAD	—		192
- Denominated in MXN	—		9
Total cash balances held at financial institutions in the United States	47,084		84,242
Financial institutions in Hong Kong
- Denominated in USD	40,001		3,078
- Denominated in EUR	734		22,955
- Denominated in GBP	1,635		6,756
- Denominated in JPY	316		12,871
- Denominated in HKD	67		34
Total cash balances held at financial institutions in Hong Kong	42,753		45,694
Financial institutions in Japan
- Denominated in JPY	6,640		14,055
- Denominated in USD	1,405		65
Total cash balances held at financial institutions in Japan	8,045		14,120
Financial institutions in the United Kingdom
- Denominated in GBP	104		643
- Denominated in USD	14		273
- Denominated in EUR	3,158		628
Total cash balances held at financial institutions in the United Kingdom	3,276		1,544
Financial institutions in the mainland of the PRC
- Denominated in RMB	1,616		8,557
- Denominated in USD	31,961		1,130
- Denominated in EUR	1,066		16,092
- Denominated in GBP	6,870		8,359
Total cash balances held at financial institutions in the PRC	$	41,513	$	34,138
Financial institutions in Germany


	December 31,
	2022		2023
	(In thousands)
- Denominated in EUR	$	816	$	2,960
- Denominated in USD	—		468
- Denominated in GBP	—		31
Total cash balances held at financial institutions in Germany	816		3,459
Financial institutions in Vietnam
- Denominated in VND	44		81
- Denominated in RMB	—		1
- Denominated in USD	—		1
Total cash balances held at financial institutions in Vietnam	44		83
Financial institutions in Malaysia	—		—
- Denominated in MYR	—		3
Total cash balances held at financial institutions in Malaysia	—		3
Total cash held at financial institutions	$	143,531	$	183,283

Summary of Reconciliation of Cash And Restricted Cash

A reconciliation of cash and restricted cash in the consolidated balance sheets to the amounts in the consolidated statement of cash flows is as follows:


	December 31,
	2022		2023
	(In thousands)
Cash	$	143,531	$	183,283
Restricted cash	1,545		885
Total cash and restricted cash shown in the consolidated statements of cash flows	$	145,076	$	184,168

Summary of Depreciation on Property And Equipment

Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets as follows:


Office and other equipment			3-5 years
Vehicles			10 years
Logistics, warehouse and other heavy equipment			15 years

Summary of Accounts Receivable Balance

Three customers individually represented greater than 10.0% of total accounts receivable balance of the Group as of December 31, 2022 and one customer individually represented greater than 10.0% of total accounts receivable balance as of December 31, 2023.


	December 31, 2022		December 31, 2023
	proportion of total accounts receivable balance		proportion of total accounts receivable balance
Customer A	28.3	%	30.2	%
Customer B	14.5	%	*
Customer C	10.1	%	*

*Less than 10.0% of total accounts receivable balance as of the year end.

Schedule of Long-Lived Assets by Geographic Areas

The geographic information for long-lived assets as of December 31, 2022 and 2023 is as follows:


	December 31,
	2022		2023
	(In thousands)
The United States	$	144,504	$	400,554
Others	12,717		22,982
Total long-lived assets	$	157,221	$	423,536

Schedule of revenue from external customers by geographic areas

Revenues reported are attributed to geographic areas based on locations of the Company’s warehouses, except for platform commission revenues which are attributed to Hong Kong, where the server of GigaCloud Marketplace is located. Revenue by geography for the years ended December 31, 2021, 2022 and 2023 is as follows:


	Year ended December 31,
Revenues by geographic region:	2021		2022		2023
	(In thousands)
Service revenues	$	98,332	$	140,628	$	199,184
Platform commission	4,814		6,872		11,187
Hong Kong	4,814		6,872		11,187
Ocean transportation service	36,257		37,957		19,703
United States	35,754		37,684		19,610
Others(1)	503		273		93
Warehousing service	10,498		16,242		24,423
United States	7,865		14,569		23,601
Others(1)	2,633		1,673		822
Last-mile delivery service	33,693		62,745		105,978
United States	31,421		60,632		101,285
Others(1)	2,272		2,113		4,693
Packaging service	5,498		7,735		17,296
United States	4,723		7,101		16,070
Others(1)	775		634		1,226
Others	7,572		9,077		20,597
United States	4,257		8,933		19,863
Others	3,315		144		734
Product revenues	$	315,865	$	349,443	$	504,647
United States	243,132		269,599		373,837
Japan	44,881		40,082		44,348
Germany	9,510		21,133		71,163
Others(1)	18,342		18,629		15,299
Total revenues	$	414,197	$	490,071	$	703,831

(1) No other individual region's revenues exceeded 10% of the Company's total revenues for the years ended December 31, 2021, 2022 and 2023.

Net Income Per Ordinary Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net income per ordinary share

NET INCOME PER ORDINARY SHARE

The following table sets forth the basic and diluted net income per ordinary share computation and provides a reconciliation of the numerator and denominator for the years presented:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Numerator:
Net income	$	29,257	$	23,972	$	94,108
Net income attributable to preferred shareholders	(18,777)		(8,352)		—
Accretion of Series E Preferred Shares	(1,500)		(941)		—
Net income per ordinary share calculation	$	8,980	$	14,679	$	94,108
Denominator:
Weighted average number of ordinary shares outstanding
- Basic	10,248,079		24,412,314		40,788,448
- Diluted	10,248,079		24,412,314		40,922,590
Net income per ordinary share attributable to ordinary shareholders
- Basic	$	0.88	$	0.60	$	2.31
- Diluted	$	0.88	$	0.60	$	2.30

Prior to the completion of IPO

The ordinary shares issued and outstanding, including 4,765,903 ordinary shares that the Company issued to the Trust Holdcos for the purpose of issuing shares to grantees upon their exercise of share-based awards (disclosed in the Note 15), are included in determining weighted average number of ordinary shares and the calculation of basic net income per ordinary share, as they are entitled to dividend right as ordinary shareholders.

For the year ended December 31, 2021 and for the period from January 1, 2022 to August 17, 2022, all outstanding share-based awards are not included in the calculation of basic or diluted net income per ordinary share, as the issuance of such awards is contingent upon a qualified IPO within expiration period, which was not satisfied as of respective period ends. During the year ended December 31, 2021 and for the period from January 1, 2022 to August 17, 2022, the Preferred Shares were excluded from the calculation of diluted earnings per ordinary share as their inclusion would have been anti-dilutive.

After IPO

When the IPO was consummated on August 17, 2022, the issued and outstanding 21,427,975 Series A, B, C, D and E Preferred Shares were converted into the Company’s ordinary shares at a par value of $0.05 per share on a one-for-one-basis (disclosed in the Note 14). Since then, the shares were included in the calculation of basic net income per ordinary share on a weighted average basis. In addition, the restricted shares granted to the non-employee service provider, which vested on November 18, 2022 immediately after the grants (disclosed in the Note 15) were included in the calculation of basic earnings per share on a weighted average basis.

For the period after the IPO to December 31, 2023, the 29,400 Class A ordinary shares to be issued to the Underwriter upon the exercise of the warrant (disclosed in the Note 16) are not included in the calculation of dilutive net income per ordinary share under the treasury stock method, as their exercise prices are higher than the fair market value of the Company’s ordinary shares as at December 31, 2023, representing out-of-the-money impact from the holder’s perspective.

The potential dilutive securities that have been included in the calculation of diluted net income per ordinary share are presented as follow:


	Year ended December 31,
	2021	2022	2023
RSU	—	—	103,879
RS	—	—	30,263

Preferred Shares - Schedule of Temporary Equity (Detail) - Series E Preferred Shares - Redeemable convertible preferred stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Temporary Equity [Line Items]
Balance as of December 31, 2021	$ 26,652	$ 25,152
Accretion of Preferred Shares	941	1,500
Conversion to Class A ordinary shares	(27,593)
Balance as of December 31, 2022	$ 0	$ 26,652

Net Income per Ordinary Share - Schedule of the Basic and Diluted Net Income per Ordinary Share - Additional Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Aug. 17, 2022	Feb. 28, 2022
Conversion of Temporary Equity Series E Preferred Shares to Class A Ordinary Shares
Conversion of Stock [Line Items]
Common stock, par value (in USD per share)		$ 0.05
Series A B C D E Preferred Stock
Conversion of Stock [Line Items]
Preferred stock, shares issued (in shares)		21,427,975
Preferred stock, shares outstanding (in shares)		21,427,975
Common Class A
Conversion of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.05
Warrant \| Common Class A
Conversion of Stock [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	29,400
Trust Holdcos
Conversion of Stock [Line Items]
Number of treasury stock held in a trust (in shares)			4,765,903

Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long term debt


	December 31,
	2022		2023
	(In thousands)
Unsecured bank loans	$	207	$	—
Long-term borrowings	207		—
Current portion of long-term borrowings	207		—
Long-term borrowings, excluding current portion	$	—	$	—

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
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-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-SubTopic 30
-Section 45
-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Income Tax - Schedule of the Effective Income tax rate reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Computed expected income tax expenses at the PRC tax rate of 25%	$ 28,749	$ 7,791	$ 9,431
Effect of:
Tax rate differential for non-PRC entities	(5,289)	(1,387)	(134)
Preferential tax rate	(322)	(509)	(44)
Net operating loss carryforwards expired	11	12	933
Change in unrecognized tax benefits	451	254	232
Non-deductible expenses	5	2	2
Non-taxable offshore profit in Hong Kong S.A.R	(12,779)	(4,593)	(6,148)
Special tax adjustment in the PRC	11,618	3,263	5,589
Change in valuation allowance on deferred tax assets	(828)	1,582	(958)
Others	(729)	777	(435)
Total	$ 20,887	$ 7,192	$ 8,468
Statutory income tax rate	25.00%

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance as of January 1, 2023	$ 0
Acquisitions (Note 3)	12,586
Balance as of December 31, 2023	$ 12,586

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Share-Based Compensation - Additional information (Detail) $ / shares in Units, $ in Thousands								1 Months Ended				12 Months Ended
	Dec. 01, 2023 shares	Sep. 28, 2023 shares	Apr. 27, 2023 shares	Mar. 10, 2023 employee shares	Mar. 01, 2023 employee shares	Nov. 18, 2022 USD ($) $ / shares shares	Jul. 11, 2021 USD ($) shares	Aug. 31, 2022 USD ($) shares	Feb. 28, 2022 $ / shares shares	Jul. 31, 2021 shares	Jul. 31, 2020 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise of vested share-based awards (in shares)												4,556,061		1,587,086
Share-based payment award, expiration period							10 years
Number of share options granted (in shares)													385,434	1,160,557
Share-based payment arrangement, expense \| $						$ 59
Aggregate intrinsic value for share options exercised in the period (in USD) \| $												$ 5,239	$ 0	$ 9,602
Number of employees receiving RSU's granted \| employee				2	2
IPO
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense \| $								$ 8,825
Share options vested on consummation of IPO (in shares)								4,529,383
General and administrative expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Nonvested award, cost not yet recognized \| $							$ 9,681
Share-based payment arrangement, option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense \| $											$ 62	0	8,887	9,681
Share-based payment arrangement, option \| General and administrative expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense \| $												$ 0	$ 7,652	$ 9,681
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted during the year (in shares)													220,898
Number of days for payment of consideration									45 days
Weighted average grant date fair value for restricted shares granted during the period (in USD per share) \| $ / shares									$ 7.48				$ 0.2690
Award vesting period									3 years
Award requisite service period									3 years
Number of restricted shares to be exercised (in shares)												10,545	69,034	0
Restricted stock \| IPO
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value for restricted shares granted during the period (in USD per share) \| $ / shares												$ 0.0015
Restricted stock units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense \| $												$ 1,890	$ 0	$ 0
Granted during the year (in shares)												412,397
Weighted average grant date fair value for restricted shares granted during the period (in USD per share) \| $ / shares												$ 5.23
Award requisite service period			1 year
Number of restricted shares to be exercised (in shares)												412,397	0
Non-vested award, excluding option, cost not yet recognized \| $												$ 267
Restricted share units not exercisable (in shares)												159,773
Cost not yet recognized, period for recognition												12 months
Restricted stock units (RSUs) \| Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting percentage			50.00%
Restricted stock units (RSUs) \| Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting percentage			50.00%
Restricted stock units (RSUs) \| General and administrative expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense \| $												$ 1,501	$ 0	$ 0
Three year \| Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of restricted shares vested (in shares)												58,489	141,864
Share-based payment arrangement, non-employee \| Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted during the year (in shares)						10,000			5,190
Weighted average grant date fair value for restricted shares granted during the period (in USD per share) \| $ / shares						$ 0.05
Share-based payment arrangement, employee \| Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted during the year (in shares)									205,708
Share-based payment arrangement, employee \| Restricted stock units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted during the year (in shares)	10,112	10,000	357,115	33,422	1,748
2017 Share Incentive Plan \| Share-based payment arrangement directors and employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise of vested share-based awards (in shares)							1,587,086							1,587,086
2017 Share Incentive Plan \| Share-based payment arrangement, employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of share options granted (in shares)									385,434	1,160,557	26,678

Leases - Additional information (Details)	Dec. 31, 2023
Leases [Abstract]
Finance lease, term of contract	3 years

Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-based compensation

SHARE-BASED COMPENSATION

In addition to the ordinary shares issued to the Group’s former chief financial officer in February 2022 as disclosed in the Note 14, the Group granted share-based awards to certain employees and non-employee service providers, of which, the details are specified as follows:

2017 Share Incentive Plan

On March 27, 2017, the board of directors resolved to approve another share award scheme (the “2017 Share Incentive Plan” or the “2017 Plan”) to the Group’s eligible employees and non-employee service providers.

Share options

On July 11, 2021, the Company’s board of directors resolved to approve the immediate exercise of 1,587,086 share options, which were granted under the 2017 Plan to certain directors and key employees on July 1, 2020 and July 1, 2021, respectively. These share options were originally exercisable upon a qualified IPO before expiration date of ten years after grant dates with no vesting condition stipulated. The Group accounted for the modification as a not probable-to-probable modification. Such modification resulted in unrecognized share-based compensation expenses of $9,681 thousand as general and administrative expenses in the consolidated statement of comprehensive income for the year ended December 31, 2021.

In July 2021, the board of directors further resolved to grant 1,160,557 share options to the Group’s eligible employees under the 2017 Plan. No service condition was stipulated for the share options.

Except for the modification of 1,587,086 awards made to certain directors and key employees in 2021, all outstanding share awards as of December 31, 2021 can only be exercised upon the consummation of a qualified IPO before expiration date of ten years after the date of the awards. The completion of a qualified IPO is considered a performance condition of the awards. A qualified IPO is not considered being probable by management before it is completed. Under

ASC 718, compensation cost should be recognized if it is probable that the performance condition will be achieved. As a result, no compensation expense was recognized related to these shares awards.

In February 2022, the board of directors resolved to grant 385,434 share options to its employees with no service condition stipulated. The completion of a qualified IPO is considered a performance condition of the share option awards, which is not considered being probable by management before it is completed.

Pursuant to the consummation of the IPO in August 2022, the Group recognized share-based compensation expenses of $8,825 thousand for 4,529,383 share options upon the vest. Concurrently, the Group approved the modification to cancel the service condition of 26,678 share options, which were granted under the 2017 Plan to certain employees on July 1, 2020. The Group accounted for the modification as a probable-to-probable modification but did not record any incremental share-based compensation expense since the fair value of the modified awards immediately after the modification was not greater than the fair value of the original awards immediately before the modification. The Group recorded share-based compensation expenses of $62 thousand relating to the 26,678 share options with original grant date fair value in general and administrative expenses in the consolidated statement of comprehensive income after the modification. All share options have vested upon the consummation of the IPO.

Prior to the completion of the IPO, the fair values of share options granted are estimated on the dates of grant using the binomial option pricing model with the following assumptions used:


	Year ended December 31,
Grant dates:	2021	2022
Risk-free rate of return	1.46%	1.80%
Volatility	44.17%	43.60%
Expected dividend yield	0.00%	0.00%
Exercise multiple	2.20/2.80	2.20/2.80
Fair value of underlying ordinary share	$6.15	$7.5
Expected terms	10 years	10 years

The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the Group’s options. The risk-free interest rate was estimated based on the yield to maturity of U.S. treasury bonds denominated in USD for a term consistent with the expected term of the Group’s options in effect at the option valuation date. Expected dividend yield is zero as the Group does not anticipate any dividend payments in the foreseeable future. The expected exercise multiple was estimated as the average ratio of the stock price to the exercise price of when employees would decide to voluntarily exercise their vested options. Expected term is the contract life of the option.

During the year ended December 31, 2023, there were no new issuance activities pursuant to the 2017 Share Incentive Plan. All share options were exercised during the year ended December 31, 2023. The following table summarizes activities of share options for the years ended December 31, 2021, 2022 and 2023.


	Number of shares	Weighted average exercise price		Weighted average grant- date fair value

Outstanding at January 1, 2021	4,597,156	$	0.05	$	1.08
Granted	1,160,557	0.05		6.10
Exercised	(1,587,086)	0.05		6.10
Outstanding at December 31, 2021	4,170,627	$	0.05	$	0.57
Granted	385,434	0.05		7.43
Outstanding at December 31, 2022	4,556,061	$	0.05	$	1.15
Exercised	(4,556,061)	0.05		1.15
Outstanding at December 31, 2023	—	—		—
Exercisable at December 31, 2023	—	—		—

Total intrinsic value of options exercised was $9,602 thousand, nil and $5,239 thousand, for the years ended December 31, 2021, 2022 and 2023.

Total compensation expenses recognized are allocated to the following expense items.


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Cost of revenues	$	—	$	487	$	—
Selling and marketing expenses	—		748		—
General and administrative expenses	9,681		7,652		—
Research and development expenses	—		—		—
Total share compensation expenses	$	9,681	$	8,887	$	—

Restricted shares

In February 2022, the board of directors also resolved to grant 205,708 and 5,190 restricted shares to its employees and non-employee service providers, respectively. The grantees of the restricted shares shall pay in full of the consideration within 45 days at the exercise price of $7.48 per share after the grant date of such restricted shares; otherwise, the Company shall be entitled to cancel the grant. The grantees are subject to the service condition of three years’ continuous service since their service commencement in the Group; upon the grantee’s early service termination, the Company shall have the right (but not the obligation) to repurchase all or any portion of the shares in cash, at the amount of the original purchase price actually paid by the grantee for such restricted shares. The restricted shares will immediately be released from restrictions upon the satisfaction of both (1) completion of a qualified IPO, and (2) the completion of the grantees three years’ continuous service since their service commencement in the Group. When both criteria are achieved, the grantees are entitled to cliff and cumulatively vest the total grants.

For the 141,864 and 58,489 restricted shares that were released from restriction (see Note 14) during the years ended December 31, 2022 and December 31, 2023 respectively, as grantees of such restricted shares satisfied the service condition of three years' continuous service since their service commencement in the Group, the Company recognized trivial amounts of share-based compensation expenses accordingly. The grant date fair value of the restricted shares is $0.0015 per share, which was estimated using the income approach and equity allocation method. Estimation of the fair value of the shares involves significant assumptions that might not be observable in the market, and a number of complex and subjective variables, discount rate, risk-free interest rate and subjective judgments regarding the Group’s projected financial and operating results, its unique business risks, the liquidity of its ordinary shares and its operating history and prospects at the time the grants are made. The fair value of these awards was determined by management with the assistance from a valuation report prepared by an independent valuation firm using management’s estimates and assumptions.

On November 18, 2022, the board of directors further resolved to grant 10,000 restricted shares to one non-employee service provider. The exercise price of the restricted shares was stipulated as $0.05 per share, which is identical with par value of the Company’s ordinary shares. The restricted shares vested immediately after the grants with no further condition required. Given the award was directly attributable to the IPO consummated, the Company recorded the cost of $59 thousand against the gross proceeds of the offering.

A summary of the Company’s restricted shares for the year ended December 31, 2022 is presented below:


	Number of shares	Weighted average grant date fair value
Outstanding as of January 1, 2022	—	$	—
Granted	220,898	0.2690
Vested	(151,864)	0.3906
Outstanding as of December 31, 2022	69,034	0.0015
Expect to be vested at December 31, 2022	69,034	$	0.0015

A summary of the Company’s restricted shares for the year ended December 31, 2023 is presented below:


	Number of shares	Weighted average grant date fair value
Outstanding as of January 1, 2023	69,034	$	0.0015
Vested	(58,489)	0.0015
Outstanding as of December 31, 2023	10,545	0.0015
Expect to be vested at December 31, 2023	10,545	$	0.0015

As of December 31, 2023, unrecognized compensation expenses with trivial amount relating to the remaining 10,545 unvested restricted shares will cliff and cumulatively vest upon the satisfaction of the service condition.

Restricted share units

On March 1, 2023 and March 10, 2023, the Group respectively granted 1,748 and 33,422 restricted share units (the “RSUs”) to its two employees with no exercise price. All of these RSUs vested on the grant date with no service condition stipulated. Following the same term, the Group granted 10,000 RSUs and 10,112 RSUs employees on September 28, 2023 and December 1, 2023, respectively. All RSUs vested immediately upon grant.

On April 27, 2023, the Company granted 357,115 RSUs with no exercise price to employees with two types of vesting schedules of (1) vesting immediately after the grant or (2) vesting 50% immediately after the grant and cliff vesting the other 50% upon the satisfaction of one year service with the Group after the grant. Each of the RSUs granted is stipulated to vest following either of the two.

A summary of the Group's RSUs activities for the year ended December 31, 2023 is presented below:


	Number of shares	Weighted average exercise price		Weighted average grant-date fair value		Weighted remaining contractual years	Aggregate intrinsic value
Outstanding as of January 1, 2023	—	—		—		—	—
Granted	412,397	—		5.23		—	—
Outstanding as of December 31, 2023	412,397	—		5.23		9.34	2,157
Exercisable as of December 31, 2023	252,624	$	—	$	5.37	9.35	$	1,358

As of December 31, 2023, unrecognized compensation expenses of $267 thousand relating to the 159,773 unvested RSUs will be recognized in next twelve months.

Compensation expenses recognized in connection with RSUs are allocated to the following expense items.


	Year ended December 31,
	2021	2022	2023
	(In thousands)
Cost of revenues	—	—	$	9
Selling and marketing expenses	—	—	169
General and administrative expenses	—	—	1,501
Research and development expenses	—	—	211
Total share compensation expenses	—	—	$	1,890

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 2,162
2025	1,220
2026	1,219
2027	1,219
2028	1,092
2029 and thereafter	1,455
Total amortization expense	$ 8,367	$ 0	$ 0

Net Income per Ordinary Share - Schedule of the Basic and Diluted Net Income per Ordinary Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 94,108	$ 23,972	$ 29,257
Net income attributable to preferred shareholders	0	(8,352)	(18,777)
Accretion of Series E Preferred Shares	0	(941)	(1,500)
Net income per ordinary share calculation	$ 94,108	$ 14,679	$ 8,980
Denominator:
Weighted average number of ordinary shares outstanding - basic (in shares)	40,788,448	24,412,314	10,248,079
Weighted average number of ordinary shares outstanding - diluted (in shares)	40,922,590	24,412,314	10,248,079
Net income per ordinary share attributable to ordinary shareholders - basic (in USD per share)	$ 2.31	$ 0.60	$ 0.88
Net income per ordinary share attributable to ordinary shareholders - diluted (in USD per share)	$ 2.30	$ 0.60	$ 0.88

Description of Business and Organization

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of business and organization

DESCRIPTION OF BUSINESS AND ORGANIZATION

Description of Business

GigaCloud Technology Inc (the “Company”), a limited liability company based in the Cayman Islands, with its subsidiaries and consolidated variable interest entities (“VIEs”) (collectively referred to as the “Group”, "we" or "our") are principally engaged in large parcel merchandise sales and the provision of ecommerce solutions for small cross-border business owners utilizing the Company’s online platform (“GigaCloud Marketplace”) and warehouses primarily located in the United States, Japan and Europe.

Organization

The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries and consolidated VIEs.

In 2017 and 2018, the Company entered into Account Control Agreements with its VIEs and their respective nominal shareholders in the United States, Japan, the United Kingdom, Germany and the People’s Republic of China (“China” or “PRC”), respectively, to facilitate operations in these jurisdictions.

The functions of the VIEs include operating accounts registered on third-party ecommerce websites to sell merchandise to local individual customers, or providing warehousing and logistic services to users’ registered on GigaCloud Marketplace, by utilizing the Group’s cross-border trading experience, international logistic network and the Company’s own online platform. All of the VIEs’ nominal shareholders are employees of the Group. The Company has funded, through either direct capital contribution or intercompany loans, substantially all of the VIEs’ capital and operational funds. The Company has information right, management right and control right of daily operation of the VIEs.

The Account Control Agreements, with the consolidated VIEs and their shareholders, allow the Company to (i) exercise effective control over the consolidated VIEs, (ii) receive substantially all of the economic benefits of the consolidated VIEs, and (iii) have an exclusive option to purchase all or part of the equity interests in the consolidated VIEs when and to the extent permitted by the applicable laws.

The Company is regarded as the primary beneficiary of the consolidated VIEs, and the Company treats the VIEs as consolidated entities under U.S. GAAP. The Company has consolidated the financial results of the VIEs in the consolidated financial statements in accordance with U.S. GAAP. However, the control over the VIEs through contractual arrangements may not be as effective as direct ownership. In addition, uncertainties exist as to whether the Company’s operation of the business in these jurisdictions through the consolidated VIEs would be found not in compliance with existing or future respective local laws.

The equity interests of the VIEs are legally held by their nominee shareholders. Through the Account Control Agreements, which were entered into among the Company, the VIEs and the nominee shareholders of the VIEs, the nominee shareholders of the VIEs have granted all their legal rights including voting rights and disposition rights of their equity interests in the VIEs to the Company. The nominee shareholders of the VIEs do not participate significantly in income and loss and do not have the power to direct the activities of the VIEs that most significantly impact their economic performance. Accordingly, the VIEs are considered variable interest entities.

Under the terms of the Account Control Agreements, the VIEs’ nominee shareholders have no rights to the net assets nor have the obligations to fund the deficit, and such rights and obligations have been vested to the Company. All of the deficit (net liabilities) and net loss of the VIEs are attributed to the Company.

The principal terms of the Account Control Agreements are as follows:

1) Account Management

The Company shall be entitled to information rights, management rights and control rights of daily operation of the VIEs, especially with respect to all of the bank accounts and operating accounts with relevant e-commerce platforms established or to be established in the name of, or for the benefit of the VIEs.

The VIEs and their shareholders shall act in good faith under instructions of the Company and shall not damage the control and management of the Company or affect its financial results and consolidation of such result.

2) Sale and Purchase of Equity Interest

The Company has irrevocable and exclusive right to purchase the equity interests in the VIEs held by each shareholder of such VIEs, once or at multiple times at any time in part or in whole, at the Company’s sole discretion. Except for the Company and its designee(s), no other person shall be entitled to such option or other rights to purchase the equity interests in the VIEs held by the shareholders of the VIEs.

The purchase price shall be the minimum price permitted by the local applicable laws. Pursuant to the Account Control Agreements, the VIEs and their shareholders shall not terminate the control agreement unilaterally in any event unless otherwise required by applicable laws.

3) Power of Attorney

The Company has sole and exclusive power of attorney to act on behalf of each shareholder of the VIEs with respect to all rights and matters concerning all equity interest held by such shareholder including exercising all of the shareholder’s rights and voting rights; deciding the sale, transfer, pledge or disposition of the shares of the VIEs; representing the shareholder to execute any resolutions and minutes as a shareholder (and director) of the VIEs; approving the amendments to the articles of association without written consent of such shareholder; approving any change of the share capital of the VIEs; appoint directors to the VIEs at the discretion of the Company.

Each shareholder of the VIEs waives all rights with respect to the equity interests in the VIEs held by him/her and shall not exercise such rights by himself/herself.

4) Equity Pledge

The VIEs’ shareholders agree to pledge all the equity interests to the Company as security for performance of the contract obligations under the Account Control Agreements. The VIEs and their shareholders shall complete all necessary registration and/or filings relating to the equity pledges required by the applicable laws in one month after the execution of the Account Control Agreements.

During the term of the Account Control Agreement, the VIEs and their shareholders shall deliver the share certificate or the like to the Company’s escrow within one week after the execution of the Account Control Agreements. In the event of the occurrence of any change of the share capital or the entrusted shareholding of the VIEs, the VIEs and their shareholders shall update the registration and/or filings relating to the equity pledges required by the applicable laws and deliver the updated share certificate or the like to the Company’s escrow.

5) Effective Date and Term

The Account Control Agreements became effective upon execution by the parties, and remain effective until all equity interests held by the VIEs’ shareholders have been transferred or assigned to the Company in accordance with the Account Control Agreements.

The Company relies on the Account Control Agreements to operate and control VIEs. All of the Account Control Agreements are governed by local laws and provide for the resolution of disputes through arbitration under local laws. Accordingly, these agreements would be interpreted in accordance with local laws and any disputes would be resolved in accordance with local legal procedures. Uncertainties in the local legal system could limit the Company’s ability to enforce these contractual arrangements. In the event that the Company is unable to enforce these contractual arrangements, or if the Company suffers significant time delays or other obstacles in the process of enforcing these Account Control Agreements, it would be difficult to exert effective control over VIEs, and the Company’s ability to conduct its business and the results of operations and financial condition may be materially and adversely affected.

In the opinion of management, the ownership structures of the Company and its VIEs, do not violate any applicable local laws, regulations, or rules currently in effect; the agreements among the Company, each of the VIEs and its

shareholders, governed by local laws, as described above, are valid, binding and enforceable in accordance with their terms and applicable local laws, rules, and regulations currently in effect, and do not violate any applicable local laws, regulations, or rules currently in effect. However, there are substantial uncertainties regarding the interpretation and application of current and future local laws and regulations. Accordingly, if the local government finds that the contractual arrangements do not comply with its restrictions on foreign ownership of businesses, or if the local government otherwise finds that the Company and the VIEs are in violation of local laws or regulations or lack the necessary permits or licenses to operate the Company’s business, the relevant regulatory authorities would have broad discretion in dealing with such violations, including:

•revoking the business and operating licenses of the Company;

•discontinuing or restricting the operations;

•imposing fines or confiscating any of VIEs’ income that they deem to have been obtained through illegal operations;

•imposing conditions or requirements with which the Group’s subsidiaries or the VIEs may not be able to comply;

•requiring the Company to restructure the ownership structure or operations, including terminating the contractual arrangements with the VIEs;

•restricting or prohibiting the Company’s use of the proceeds of overseas offering to finance the business and operations in these jurisdictions; or

•taking other regulatory or enforcement actions that could be harmful to the business.

If the imposition of any of these penalties or requirement to restructure the Company’s corporate structure causes it to lose the rights to direct the activities of the VIEs or the Company’s right to receive its economic benefits, the Company would no longer be able to consolidate the financial results of the VIEs in its consolidated financial statements. In the opinion of management, the likelihood of deconsolidation of the VIEs is remote based on current facts and circumstances.

In February 2021, the Company terminated the Account Control Agreement with one of its consolidated VIEs, Suzhou Dajianyun Transport Co., Ltd. (“Suzhou Dajianyun”). In connection with the termination of the Account Control Agreement, the Company, through its wholly-owned subsidiary GigaCloud Technology (Suzhou) Co., Ltd. (“Gigacloud Suzhou”, formerly known as Oriental Standard Network Technology (Suzhou) Co., Ltd.), acquired 100% of the equity interest in Suzhou Dajianyun which then became the Company’s indirect wholly-owned subsidiary.

In January 2023, the Company terminated the Account Control Agreements with two of its consolidated VIEs, Blitz Distribution GMBH and GIGA CLOUD LOGISTICS INC. In connection with the termination of the Account Control Agreement, the Company acquired 100% of the equity interest in these two companies which then became the Company’s direct wholly-owned subsidiary.

The Company’s involvement with the VIEs under the Account Control Agreements affected the Company’s consolidated financial position, results of operations and cash flows as indicated below. The following consolidated assets and liabilities information of the Group’s VIEs as of December 31, 2022 and 2023, and consolidated revenues, net income

(loss) and cash flow information for the years ended December 31, 2021, 2022 and 2023 have been included in the accompanying consolidated financial statements.


	December 31,
	2022		2023
	(In thousands)
Cash	$	5,367	$	3,963
Accounts receivable, net	2,959		2,259
Inventories	9,551		22,643
Amounts due from related parties*	1,249		3,071
Prepayments and other current assets	1,277		182
Total current assets	20,403		32,118
Property and equipment, net	548		275
Operating lease right-of-use assets	5,398		1,978
Other non-current assets	890		768
Total assets	27,239		35,139
Accounts payable	4,185		11,563
Contract liabilities	385		736
Current operating lease liabilities	1,864		1,305
Income tax payable	280		3,644
Accrued expenses and other current liabilities	442		2,774
Amounts due to related parties*	24,172		12,773
Total current liabilities	31,328		32,795
Operating lease liabilities, non-current	3,322		553
Total liabilities	$	34,650	$	33,348

*As of December 31, 2022 and 2023, amounts due to and due from related parties represent the loans, receivables and payables that the VIEs had with the Company’s consolidated subsidiaries, which were eliminated in the Company’s consolidated financial statements.


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Revenues	$	47,683	$	70,635	$	74,353
Net income (loss)	751		(5,955)		11,146
Net cash provided by operating activities	69		1,410		1,115
Net cash provided by (used in) investing activities	(237)		53		(2,375)
Net cash (used in) financing activities	(68)		—		—
Net increase (decrease) in cash	(628)		1,825		(1,404)
Cash at the beginning of the year	4,170		3,542		5,367
Cash at the end of the year	$	3,542	$	5,367	$	3,963

In accordance with VIE Agreements, the Company has the power to direct the activities of the VIEs. Therefore, the Company considers that there are no assets in the VIEs that can be used only to settle obligations of the VIEs. The creditors of VIEs do not have recourse to the general credit of the Company and its wholly-owned subsidiaries.

Goodwill and Intangible Assets - Schedule of Acquired Finite-Lived Intangible Assets by Major Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 8,677
Less accumulated amortization	(310)
Total intangible assets, net	$ 8,367	$ 0	$ 0
Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	1 year
Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Technology assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period	4 years 4 months 24 days
Total intangible assets	$ 6,467
Technology assets \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	1 year
Technology assets \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	5 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Weighted Average Amortization Period	15 years
Total intangible assets	$ 2,210

Prepayments and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepayments And Other Current Assets

Prepayments and other current assets are consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Value-added taxes recoverable	$	201	$	—
Advances to suppliers	1,067		2,031
Amounts due from third-party payment platforms	3,814		9,945
Deposits	29		270
Prepaid expenses	1,405		3,451
Others	1,050		1,819
Prepayments and other current assets	$	7,566	$	17,516

Preferred Shares - Narrative Series D (Details) - Series D convertible preferred stock - Hong Kong Red Star Macalline Universal Machine Holdings - Convertible preferred stock $ / shares in Units, $ in Thousands	Mar. 27, 2017 USD ($) $ / shares shares
Temporary Equity [Line Items]
Issuance of Class A ordinary shares upon the IPO (in shares) \| shares	2,943,786
Public offering price (in USD per share) \| $ / shares	$ 2.74
Proceeds from the issue of convertible preferred stock \| $	$ 8,053

Description of Business and Organization - Additional Information (Detail)	Jan. 31, 2023 vIE company	Feb. 28, 2021 vIE	Feb. 01, 2021
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Number of account control agreements terminated \| vIE	2	1
Number of wholly-owned subsidiaries acquired \| company	2
Suzhou GigaCloud
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Business acquisition, percentage of voting interests acquired (in percent)			100.00%
Giga Cloud Logistics Inc and Blitz Distribution GMBH
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Business acquisition, percentage of voting interests acquired (in percent)	100.00%

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Assets and Liabilities Related to both Operating and Finance Leases

The gross amounts of assets and liabilities related to both operating and finance leases were as follows:


		December 31,
	Balance Sheet Caption	2022		2023
		(In thousands)
Assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	144,168	$	398,922
Finance lease right-of-use assets	Property and equipment, net	9,089		8,616
Total right-of-use assets		$	153,257	$	407,538


		December 31,
	Balance Sheet Caption	2022		2023
		(In thousands)
Liabilities:
Current:
Operating lease liabilities	Current operating lease liabilities	$	(27,653)	$	(57,949)
Finance lease liabilities	Accrued expenses and other current liabilities	(2,916)		(1,666)
Non-current:
Operating lease liabilities	Operating lease liabilities, non-current	(116,564)		(343,511)
Finance lease liabilities	Finance lease obligations, non-current	(867)		(111)
Total lease liabilities		$	(148,000)	$	(403,237)

Schedule of Lease Cost

The components of lease cost were as follows:


	Year ended December 31,
	2022		2023
	(In thousands)
Operating lease cost	$	29,564	$	40,215
Finance lease cost
Amortization of right-of-use assets	653		680
Interest on lease liabilities	557		532
Short-term lease costs	307		351
Total	$	31,081	$	41,778

Schedule of Lease Terms and Discount Rates

Lease terms and discount rates are as follows:


	December 31,
	2022		2023
Weighted average remaining lease term (years):
Operating leases	6.05		6.45
Finance leases	1.21		0.84

Weighted average discount rate:
Operating leases	1.36	%	3.23	%
Finance leases	11.46	%	18.18	%

Schedule of Future Minimum Lease Payments

Future minimum lease payments as of December 31, 2023, including rental payments for lease renewal options the Group is reasonably certain to exercise were as follows:


	Operating leases		Finance leases
	(In thousands)
Maturity of Lease Liabilities
2024	$	69,464	$	1,778
2025	76,963		67
2026	73,365		45
2027	67,619		—
2028	57,086		—
Thereafter	107,143		—
Total lease payments	451,640		1,890
Less: imputed interest	(50,180)		(113)
Present value of lease liabilities	$	401,460	$	1,777

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:


	Year ended December 31,
	2022		2023
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	27,175	$	37,730
Operating cash flows from finance leases	557		532
Financing cash flows from finance leases	3,624		2,212
Right-of-use assets obtained in exchange for lease obligations a
Operating leases	24,270		291,816
Finance leases	$	2,719	$	207

a.This supplemental non-cash disclosure for right of use assets obtained in exchange for new lease liabilities refers to an increase in lease liabilities associated with obtaining new right of use assets.

Description of Business and Organization - Schedule of Consolidated Assets and Liabilities Information of Group Variable Interest Entity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Cash	$ 183,283	$ 143,531
Accounts receivable, net	58,876	27,142
Inventories	132,247	78,338
Prepayments and other current assets	17,516	7,566
Total current assets	392,807	258,122
Property and equipment, net	24,614	13,053
Operating lease right-of-use assets	398,922	144,168
Other non-current assets	8,173	3,182
Total assets	846,909	418,600
Contract liabilities	5,537	2,001
Current operating lease liabilities	57,949	27,653
Income tax payable	15,212	4,142
Total current liabilities	205,774	102,638
Operating lease liabilities, non-current	343,511	116,564
Total liabilities	556,493	223,435
Revenues	703,831	490,071	$ 414,197
Net income (loss)	94,108	23,972	29,257
Net cash provided by operating activities	133,452	49,656	8,556
Net cash provided by (used in) investing activities	(90,547)	(709)	(1,825)
Net cash (used in) financing activities	(4,003)	31,887	(2,956)
Cash and restricted cash at the beginning of the year	145,076	63,862	62,197
Cash and restricted cash at the end of the year	184,168	145,076	63,862
Variable interest entity, primary beneficiary
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Cash	3,963	5,367
Inventories	22,643	9,551
Prepayments and other current assets	182	1,277
Total current assets	32,118	20,403
Property and equipment, net	275	548
Operating lease right-of-use assets	1,978	5,398
Other non-current assets	768	890
Total assets	35,139	27,239
Contract liabilities	736	385
Current operating lease liabilities	1,305	1,864
Income tax payable	3,644	280
Accrued expenses and other current liabilities	2,774	442
Total current liabilities	32,795	31,328
Operating lease liabilities, non-current	553	3,322
Total liabilities	33,348	34,650
Revenues	74,353	70,635	47,683
Net income (loss)	11,146	(5,955)	751
Net cash provided by operating activities	1,115	1,410	69
Net cash provided by (used in) investing activities	(2,375)	53	(237)
Net cash (used in) financing activities	0	0	(68)
Net increase (decrease) in cash	(1,404)	1,825	(628)
Cash and restricted cash at the beginning of the year	5,367	3,542	4,170
Cash and restricted cash at the end of the year	3,963	5,367	$ 3,542
Variable interest entity, primary beneficiary \| Nonrelated-party
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Accounts receivable, net	2,259	2,959
Accounts payable	11,563	4,185
Variable interest entity, primary beneficiary \| Related party
Schedule Of Consolidated Balance Sheets Income Statement And Cash Flows Of Variable Interest Entity [Line Items]
Amounts due from related parties	3,071	1,249
Amounts due to related parties	$ 12,773	$ 24,172

Ordinary Shares	12 Months Ended
Ordinary Shares	Dec. 31, 2023
Equity [Abstract]
Ordinary Shares	ORDINARY SHARES On July 11, 2021, the board of directors resolved to approve the exercise of 1,587,086 share options (See Note 13). The number of ordinary shares issued and outstanding was 11,082,930 as of December 31, 2021. In July 2021, the Company established Dongsi Tou Tiao Trust and Dongsi Er Tiao Trust, which are collectively referred to as the Equity Incentive Trusts, under their respective trust deeds dated in July 2021. Dongsi Tou Tiao Trust and Dongsi Er Tiao Trust controls and manages the British Virgin Islands incorporated entities, Dongsi Tou Tiao Limited and Dongsi Er Tiao Limited, respectively, which are collectively referred to as the Trust Holdcos. In February 2022, the Company issued 4,765,903 ordinary shares to the Trust Holdcos, for the purpose of issuing ordinary shares to the grantees upon the exercise of 210,898 restricted shares and 4,555,005 share options. The ordinary shares issued to the Trust Holdcos were accounted for as treasury shares of the Company upon issuance. The Trust Holdcos do not hold any other assets or liabilities as of December 31, 2023, nor earn any income nor incur any expenses for the year then ended. From the consummation of the IPO to December 31, 2022, 141,864 restricted shares were released from restriction for the satisfaction of vesting condition. During the year ended December 31, 2023, 58,489 restricted shares were released from restriction and 4,555,005 share options were exercised. The related par value with immaterial amount was deducted from treasury shares and transferred to additional paid-in capital. In February 2022, the Company issued 26,738 ordinary shares to the Group’s former chief financial officer at the consideration of $2 thousand. The former chief financial officer terminated his service in the Group in January 2022, the ordinary shares were granted as the compensation for his past service to the Group. The shares vested immediately upon grant. Fair value of these shares was determined using the income approach and equity allocation method on the issuance date. Share-based compensation expenses of nil, $199 thousand and nil were recorded in general and administrative expenses in the consolidated statement of comprehensive income for the year ended December 31, 2021, 2022, and 2023. In July 2022, the Company’s board of directors resolved to adopt a dual-class voting structure that will become effective immediately prior to the completion of its IPO. Holders of Class A ordinary shares and holders of Class B ordinary shares will have the same rights, except for voting and conversion rights. In respect of matters requiring a shareholder’s vote, each Class A ordinary share will be entitled to one vote and each Class B ordinary share will be entitled to ten votes. Upon completion of the IPO, the Class B ordinary Shares will be held only by Mr. Larry Lei Wu and his vehicles, namely Ji Xiang Hu Tong Holdings Limited and Talent Boom Group Limited. All other shareholders will hold only Class A ordinary shares. Each Class B ordinary share was stipulated to be convertible into one Class A ordinary share at any time, by the holder thereof. However, Class A ordinary shares were not entitled to be convertible into Class B ordinary shares at any time, under any circumstances. In August 2022, the Company completed its IPO on the Nasdaq Global Market, or Nasdaq, under the symbol “GCT”. Upon the completion of the IPO: a.The dual-class voting structure has become effective. 1,571,043 Series B redeemable convertible preferred shares (“Preferred Shares”) which were beneficially owned by Mr. Larry Lei Wu, the founder, chairman of board of directors and chief executive officer of the Company were converted to Class B ordinary shares at a par value of $0.05 per share on a one-for-one-basis. 7,755,689 ordinary shares issued and held by Mr. Larry Lei Wu and his vehicles were redesignated as Class B ordinary shares. b.The Series B Preferred Shares held by investors other than Mr. Larry Lei Wu and all other series of Preferred Shares (including 3,999,709 Series E Preferred Shares which were recorded as mezzanine equity) with the aggregated 19,856,932 shares were converted to Class A ordinary shares at a par value of $0.05 per share on a one-for-one-basis. 8,119,882 ordinary shares issued and held by shareholders other than Mr. Larry Lei Wu and his vehicles were redesignated as Class A ordinary shares. c.The Company issued 3,381,000 Class A ordinary shares (including 441,000 Class A ordinary shares issued to the underwriter by exercising its over allotment option) at an issuance price of $12.25 per share for net proceeds of $33.4 million, after deducting underwriting commissions and other offering expenses in the aggregated amount of $8.0 million. On June 14, 2023, the Company’s board of directors resolved to approve a share repurchase program to repurchase up to $25.0 million of its Class A ordinary shares, par value at $0.05, from time to time over the next 12 months commencing that date. As of December 31, 2023, the Company had repurchased 215,201 Class A ordinary shares from open market transactions at the market price of $1,586 thousand in total. Direct and incremental cost incurred in relation to the repurchase were $8 thousand. The Company did not retire the shares repurchased; the shares were accounted for as treasury shares.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 14
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases - Schedule of Assets and Liabilities Related to both Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Operating lease right-of-use assets	$ 398,922	$ 144,168
Finance lease right-of-use assets	8,616	9,089
Total right-of-use assets	$ 407,538	$ 153,257
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Current liabilities
Current operating lease liabilities	$ (57,949)	$ (27,653)
Finance lease liabilities	$ (1,666)	$ (2,916)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $442 and $2,774 as of December 31, 2022 and December 31, 2023, respectively)	Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $442 and $2,774 as of December 31, 2022 and December 31, 2023, respectively)
Non-current liabilities
Operating lease liabilities, non-current	$ (343,511)	$ (116,564)
Finance lease liabilities	(111)	(867)
Total lease liabilities	$ (403,237)	$ (148,000)

Business Combinations - Noble House (Details) - USD ($) $ in Thousands		1 Months Ended	2 Months Ended	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill			$ 12,586	$ 12,586	$ 0
Total purchase price				$ 87,568	$ 0	$ 0
Noble House Home Furnishings LLC
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Cash	$ 511	$ 511
Accounts receivable, net	26,662	26,662
Inventories	38,030	38,030
Prepayments and other current assets	782	782
Operating lease right-of-use assets	167,367	167,367
Property and equipment, net	14,726	14,726
Intangible assets, net	1,100	1,100
Deferred tax assets	55	55
Other non-current assets	2,768	2,768
Accounts payable	(11,968)	(11,968)
Contract liabilities	(117)	(117)
Current operating lease liabilities	(16,023)	(16,023)
Accrued expenses and other current liabilities	(1,565)	(1,565)
Operating lease liabilities, non-current	(151,344)	(151,344)
Finance lease obligations, non-current	(111)	(111)
Total identifiable net assets	70,873	70,873
Goodwill	6,750	6,750
Total purchase price	$ 77,623	$ 77,600
Revenues			31,514
Net loss			$ (299)

Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands	Total	Restricted stock	Conversion of Preferred shares to Class B Ordinary shares	Conversion of Preferred shares to Class A Ordinary shares	Conversion of Series E Preferred shares to Class A Ordinary shares	Common stock	Treasury shares	Treasury shares Restricted stock	Subscription receivable from ordinary shares	Preferred Shares	Preferred Shares Conversion of Preferred shares to Class B Ordinary shares	Preferred Shares Conversion of Preferred shares to Class A Ordinary shares	Additional paid-in capital	Additional paid-in capital Restricted stock	Additional paid-in capital Conversion of Series E Preferred shares to Class A Ordinary shares	Accumulated other comprehensive income (loss)	Retained earnings	Common Class A Common stock	Common Class A Common stock Conversion of Preferred shares to Class A Ordinary shares	Common Class A Common stock Conversion of Series E Preferred shares to Class A Ordinary shares	Common Class B Common stock	Common Class B Common stock Conversion of Preferred shares to Class B Ordinary shares	Class A Ordinary Shares Common stock	Class B Ordinary Shares Common stock
Beginning balance (in shares) at Dec. 31, 2020						9,495,844				17,428,266
Beginning balance at Dec. 31, 2020	$ 61,619					$ 475			$ 0	$ 872			$ 27,758			$ (288)	$ 32,802
Net income	29,257																29,257
Share-based compensation	$ 9,681												9,681
Exercise of vested share-based awards (in shares)	1,587,086					1,587,086
Exercise of vested share-based awards	$ 0					$ 79			(79)
Accretion of Series E Preferred Shares	(1,500)																(1,500)
Foreign currency translation adjustment, net of nil income taxes	123															123
Ending balance (in shares) at Dec. 31, 2021						11,082,930	0			17,428,266								0			0
Ending balance at Dec. 31, 2021	99,180					$ 554	$ 0		(79)	$ 872			37,439			(165)	60,559	$ 0			$ 0
Net income	23,972																23,972
Share-based compensation	9,893												9,893
Exercise of vested share-based awards (in shares)								(141,864)
Exercise of vested share-based awards		$ 1,061						$ 7						$ 1,054
Accretion of Series E Preferred Shares	(941)																(941)
Number of ordinary shares issued to the former chief financial officer (in shares)						26,738
Issuance of ordinary shares to the former chief financial officer	0					$ 2			(2)
Issuance of ordinary shares to the Trust Holdcos (in shares)						4,765,903	4,765,903
Issuance of ordinary shares to the Trust Holdcos	0					$ 238	$ (238)
Issuance of Class A ordinary shares upon the IPO (in shares)																		3,381,000
Issuance of Class A ordinary shares upon the IPO	33,438												33,269					$ 169
Re-designating ordinary shares (in shares)																		(8,119,882)			(7,755,689)		(8,119,882)	(7,755,689)
Re-designating ordinary shares	0																	$ 406			$ 388		$ (406)	$ (388)
Conversion of series (in shares)											(1,571,043)	(15,857,223)							15,857,223	3,999,709		1,571,043
Conversion to Class A ordinary shares			$ 0	$ 0	$ 27,593						$ (78)	$ (794)			$ 27,394				$ 794	$ 199		$ 78
Foreign currency translation adjustment, net of nil income taxes	969															969
Ending balance (in shares) at Dec. 31, 2022						0	4,624,039			0								31,357,814			9,326,732
Ending balance at Dec. 31, 2022	195,165					$ 0	$ (231)		(81)	$ 0			109,049			804	83,590	$ 1,568			$ 466
Net income	94,108																94,108
Share-based compensation	$ 3,015						$ 231		81				2,687					$ 16
Exercise of vested share-based awards (in shares)	4,556,061
Shares held for share-based compensation (in shares)							68,283
Shares held for share-based compensation	$ 0
Share-based compensation, shares issued in period (in shares)							(4,613,494)											312,535
Treasury stock acquired (in shares)							215,201											(215,201)
Share repurchase	(1,594)						$ (1,594)
Foreign currency translation adjustment, net of nil income taxes	(278)															(278)
Ending balance (in shares) at Dec. 31, 2023							294,029											31,455,148			9,326,732
Ending balance at Dec. 31, 2023	$ 290,416						$ (1,594)		$ 0				$ 111,736			$ 526	$ 177,698	$ 1,584			$ 466

Income Tax - Additional Information (Detail) $ in Thousands, $ in Thousands			12 Months Ended
	Jan. 31, 2023	Dec. 24, 2019	Dec. 31, 2023 USD ($)	Dec. 31, 2023 HKD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019	Dec. 31, 2020 USD ($)
Income Tax Disclosure [Line Items]
Statutory income tax rate			25.00%	25.00%
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, undistributed earnings of foreign subsidiaries			$ 12,545		$ 5,933	$ 4,224
Operating loss carryforwards			531		595	356
Deferred tax assets, valuation allowance			2,821		2,786	1,204
Unrecognized tax benefits			3,302		2,894	1,033		$ 801
Unrecognized tax benefits increase resulting from transfer pricing adjustment			408		1,861	232
Deferred Tax Asset Subsidiaries and VIE
Income Tax Disclosure [Line Items]
Deferred tax assets, valuation allowance			2,821		$ 2,786	$ 1,204
Expirable Tax Year 2024
Income Tax Disclosure [Line Items]
Operating loss carryforwards			25
Expirable Tax Year 2025
Income Tax Disclosure [Line Items]
Operating loss carryforwards			16
Expirable Tax Year 2026
Income Tax Disclosure [Line Items]
Operating loss carryforwards			116
Expirable Tax Year 2027
Income Tax Disclosure [Line Items]
Operating loss carryforwards			354
Expirable Tax Year 2028
Income Tax Disclosure [Line Items]
Operating loss carryforwards			$ 20
Hong Kong S.A.R. \| Profit Above Two Million Hong Kong Dollar
Income Tax Disclosure [Line Items]
Statutory income tax rate			16.50%	16.50%
Hong Kong S.A.R. \| Profit Below Two Million Hong Kong Dollar
Income Tax Disclosure [Line Items]
Statutory income tax rate			8.25%	8.25%
Threshold limit for revenue from subsidiaries				$ 2,000
The PRC, excluding Hong Kong S.A.R.
Income Tax Disclosure [Line Items]
Statutory income tax rate			25.00%	25.00%
Withholding income tax rate on dividends			10.00%	10.00%
Operating loss carryforwards			$ 334
The PRC, excluding Hong Kong S.A.R. \| PRC Tax Administration and Collection Law
Income Tax Disclosure [Line Items]
Income tax examination statute of limitation for underpayment of taxes period			3 years	3 years
Income tax examination statute of limitation for underpayment of taxes above threshold limit period			5 years	5 years
Income tax examination statute of limitation for underpayment of taxes above threshold limit			$ 100
Income tax examination statute of limitation for transfer pricing			10 years	10 years
The PRC, excluding Hong Kong S.A.R. \| From Tax Year 2020 to 2022
Income Tax Disclosure [Line Items]
Preferential tax rate (in percent)		0.15
The PRC, excluding Hong Kong S.A.R. \| From Tax Year 2023 to 2024
Income Tax Disclosure [Line Items]
Preferential tax rate (in percent)	0.15
The United States
Income Tax Disclosure [Line Items]
Statutory income tax rate							21.00%
Withholding income tax rate on dividends			30.00%	30.00%
Operating loss carryforwards			$ 2,976
The United States \| Expirable Tax Year 2037
Income Tax Disclosure [Line Items]
Operating loss carryforwards			709
United Kingdom
Income Tax Disclosure [Line Items]
Operating loss carryforwards			8,336
Canada \| Expirable Tax Year 2023
Income Tax Disclosure [Line Items]
Operating loss carryforwards			$ 526

Accrued Expenses and Other Current Liabilities (Table)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities


	December 31,
	2022		2023
	(In thousands)
Receipts on GigaCloud Marketplace*	$	19,772	$	29,319
Credit card payables	4,830		7,844
Salary and welfare payables	3,957		7,110
Sales refund liability	1,532		3,982
Other taxes payable	—		1,938
Finance lease obligations, current (See Note 12)	2,916		1,666
Professional fee accruals	983		921
Obligations under the remorse protection program	307		248
Prepaid consideration of restricted shares**	517		79
Liability classified share-based compensation	110		35
Other payables	2,138		4,177
Accrued expenses and other current liabilities	$	37,062	$	57,319

*Receipts on GigaCloud Marketplace include (1) refundable deposits on GigaCloud Marketplace, representing the balance of deposits from Buyers and Sellers which could be withdrawn or used for their future purchase of the Group’s services or merchandise on GigaCloud Marketplace; and, (2) amounts payable to Sellers that the Group collects from Buyers in relation to the GigaCloud 3P services it provides on GigaCloud Marketplace.

**Pursuant to the 2017 Share Incentive Plan, in February 2022, the board of directors resolved to grant 210,898 restricted shares to its employees and non-employee service providers. The amount of $1,578 thousand prepayment of consideration that was received by the Group before cliff vesting of such restricted shares was initially recorded in accrued expenses and other current liabilities. During the year ended December 31, 2023, $438 thousand of prepaid consideration was transferred from accrued expenses and other current liabilities to equity upon vesting of the restricted shares, while the remaining $79 thousand was recorded in accrued expenses and other current liabilities within the consolidated balance sheets as of December 31, 2023.

Accounts Payable - Schedule of accounts payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Vendor payable	$ 29,753	$ 10,472
Shipping charges payable and others	40,004	21,101
Accounts payable	$ 69,757	$ 31,573

Summary of Significant Accounting Policies - Summary of Depreciation on Property And Equipment (Detail)	Dec. 31, 2023
Office and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Office and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Logistics, warehouse and other heavy equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years

Borrowings - Schedule of Long term debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Unsecured bank loans	$ 0	$ 207
Long-term borrowings	0	207
Current portion of long-term borrowings	0	207
Long-term borrowings, excluding current portion	$ 0	$ 0

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands		12 Months Ended
	Jul. 05, 2022	Dec. 31, 2023 USD ($) businessLine Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Line Items]
Restricted cash		$ 885	$ 1,545
Capitalized software costs		0	0
Impairment of long lived assets		$ 0	0	$ 0
Number of business lines \| businessLine		2
Advetising expenses		$ 3,908	1,530	1,851
Defined contribution plan as a percentage of basic compensation		25.50%
Defined contribution plan costs		$ 3,711	2,610	1,695
Transaction realized gain (loss)		$ (2,100)	$ 4,900	$ 2,000
Number of operating segments \| Segment		1
Percentage of after tax profits to be appropriated to statutory fund		10.00%	10.00%	10.00%
Statutory surplus fund required as a percentage of registered capital		50.00%	50.00%	50.00%
Variable interest entity and PRC subsidiaries
Accounting Policies [Line Items]
Appropriation to reserves		$ 0	$ 0	$ 0
Minimum
Accounting Policies [Line Items]
Useful life		1 year
Maximum
Accounting Policies [Line Items]
Useful life		15 years
One supplier \| Minimum \| Purchases \| Supplier concentration risk
Accounting Policies [Line Items]
Concentration risk percentage		23.40%
No supplier \| Minimum \| Purchases \| Supplier concentration risk
Accounting Policies [Line Items]
Concentration risk percentage		10.00%
No customer \| Minimum \| Revenue benchmark \| Customer concentration risk
Accounting Policies [Line Items]
Concentration risk percentage		10.00%	10.00%	10.00%
Government
Accounting Policies [Line Items]
Government grants		$ 911	$ 1,085	$ 0
United States \| USD
Accounting Policies [Line Items]
Restricted cash		$ 885	$ 1,545
Redeemable convertible preferred stock
Accounting Policies [Line Items]
Stockholders equity note stock split conversion ratio	0.002
Common stock
Accounting Policies [Line Items]
Stockholders equity note stock split conversion ratio	0.002
Share-based payment arrangement, option \| 2008 Share incentive plan
Accounting Policies [Line Items]
Stockholders equity note stock split conversion ratio	0.002
Share-based payment arrangement, option \| 2017 Share incentive plan
Accounting Policies [Line Items]
Stockholders equity note stock split conversion ratio	0.002
Restricted stock units (RSUs) \| 2008 Share incentive plan
Accounting Policies [Line Items]
Stockholders equity note stock split conversion ratio	0.002
Restricted stock units (RSUs) \| 2017 Share incentive plan
Accounting Policies [Line Items]
Stockholders equity note stock split conversion ratio	0.002

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Presentation

The accompanying consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

(b) Share Consolidation

On July 5, 2022, the Company effected a 1-for-500 share consolidation of its issued and unissued ordinary shares, redeemable convertible preferred shares as well as share options and restricted shares under the 2008 Share Incentive Plan and the 2017 Share Incentive Plan. Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this share consolidation.

The consolidated financial statements include the financial statements of the Company, its subsidiaries, and the VIEs for which the Company is the primary beneficiary.

Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. A consolidated affiliated entity is an entity in which the Company, or its subsidiary, through contractual arrangements, exercises effective control over the activities that most impact the economic performance, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity.

All intercompany transactions and balances among the Company, its wholly-owned subsidiaries and the VIEs have been eliminated upon consolidation.

(d) Use of Estimates

The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the balance sheet dates, and the reported revenues and expenses during the reported periods. Accounting estimates include, but not limited to, fair valuation of assets acquired and liabilities assumed in a business combination, valuation and recognition of share-based compensation arrangements, inventory reserve for excess and obsolete inventories, useful lives of long-term assets, collectability of receivables, impairment of property and equipment and operating lease right-of-use assets. Incremental borrowing rate of leases, and the length of lease terms which vary by country and often include renewal options, are important factor in determining the appropriate accounting for leases including the initial classification of the lease as finance (referred to as “capital leases” prior to the adoption of Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842)) or operating and the recognition of rent expense over the duration of the lease. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements.

(e) Foreign Currency

The Group’s reporting currency is U.S. Dollars ("USD" or "$"). The functional currency of the Group’s entities incorporated in the Cayman Islands, the U.S. and Hong Kong is USD. The Group’s PRC subsidiaries and consolidated VIEs determined their functional currency to be Renminbi (“RMB”). The Group’s entities incorporated in Japan, Germany, the United Kingdom and other jurisdictions use their respective local currencies as their functional currencies. The determination of the respective functional currency is based on the criteria of Accounting Standards Codification (“ASC”) Topic 830, Foreign Currency Matters.

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates quoted by authoritative banks prevailing at the dates of the transactions. Exchange gains and

losses resulting from those foreign currency transactions denominated in a currency other than the functional currency are recorded as “Foreign currency exchange gains (losses), net” in the consolidated statements of comprehensive income.

Functional currencies of the Group's entities other than the RMB and USD included Great Britain Pounds (“GBP”), Japanese Yen (“JPY”), Euros (“EUR”), Canadian Dollars ("CAD"), Hong Kong Dollars ("HKD"), Malaysian Ringgits ("MYD"), Vietnamese Dongs (“VND”) and Mexican Pesos (“MXN”). These entities translate their operating results and financial positions into USD, the Group’s reporting currency. Assets and liabilities denominated in foreign currencies are translated into USD using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in the current period are translated into USD at the appropriate historical rates. Revenues, expenses, gains and losses are translated into USD using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in accumulated other comprehensive income as a component of shareholders’ equity.

(f) Commitments and Contingencies

In the normal course of business, the Group is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations, shareholder lawsuits, and non-income tax matters. An accrual for a loss contingency is recognized when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed.

(g) Cash

Cash consists of deposits at financial institutions. Cash is deposited into financial institutions at the locations listed below:


	December 31,
	2022		2023
	(In thousands)
Financial institutions in the United States
- Denominated in USD	$	47,028	$	83,961
- Denominated in GBP	56		80
- Denominated in CAD	—		192
- Denominated in MXN	—		9
Total cash balances held at financial institutions in the United States	47,084		84,242
Financial institutions in Hong Kong
- Denominated in USD	40,001		3,078
- Denominated in EUR	734		22,955
- Denominated in GBP	1,635		6,756
- Denominated in JPY	316		12,871
- Denominated in HKD	67		34
Total cash balances held at financial institutions in Hong Kong	42,753		45,694
Financial institutions in Japan
- Denominated in JPY	6,640		14,055
- Denominated in USD	1,405		65
Total cash balances held at financial institutions in Japan	8,045		14,120
Financial institutions in the United Kingdom
- Denominated in GBP	104		643
- Denominated in USD	14		273
- Denominated in EUR	3,158		628
Total cash balances held at financial institutions in the United Kingdom	3,276		1,544
Financial institutions in the mainland of the PRC
- Denominated in RMB	1,616		8,557
- Denominated in USD	31,961		1,130
- Denominated in EUR	1,066		16,092
- Denominated in GBP	6,870		8,359
Total cash balances held at financial institutions in the PRC	$	41,513	$	34,138
Financial institutions in Germany


	December 31,
	2022		2023
	(In thousands)
- Denominated in EUR	$	816	$	2,960
- Denominated in USD	—		468
- Denominated in GBP	—		31
Total cash balances held at financial institutions in Germany	816		3,459
Financial institutions in Vietnam
- Denominated in VND	44		81
- Denominated in RMB	—		1
- Denominated in USD	—		1
Total cash balances held at financial institutions in Vietnam	44		83
Financial institutions in Malaysia	—		—
- Denominated in MYR	—		3
Total cash balances held at financial institutions in Malaysia	—		3
Total cash held at financial institutions	$	143,531	$	183,283

(h) Restricted Cash

Cash that is restricted for withdrawal or use is reported separately on the consolidated balance sheets. The Group’s restricted cash represents security deposits held in designated bank accounts for issuance of letters of guarantee. As of December 31, 2022 and 2023, the restricted cash, held by the Group at the United States financial institutions and denominated in U.S. Dollars, amounted to $1,545 thousand and $885 thousand, respectively.

A reconciliation of cash and restricted cash in the consolidated balance sheets to the amounts in the consolidated statement of cash flows is as follows:


	December 31,
	2022		2023
	(In thousands)
Cash	$	143,531	$	183,283
Restricted cash	1,545		885
Total cash and restricted cash shown in the consolidated statements of cash flows	$	145,076	$	184,168

(i) Contract Balances

The timing of revenue recognition, billings and cash collections result in accounts receivable and contract liabilities. A contract liability is recognized when the Group has an obligation to transfer goods or services to a customer for which the Group has received consideration from the customer, or for which an amount of consideration is due from the customer.

Accounts receivable are recognized in the period when the Group has transferred products or provided services to its customers and when its right to consideration is unconditional. Amounts collected on accounts receivable are included in net cash provided by operating activities in the consolidated statement of cash flows. The Group maintains a general and specific allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. Accounts receivable balances with large creditworthy customers are reviewed by management individually for collectability. All other balances are reviewed on a pooled basis. A percentage of general allowance is applied to the

balances of accounts receivable in each aging category, excluding those which are assessed individually for collectability. Management considers various factors, including historical loss experience, current market conditions, the financial condition of its debtors, any receivables in dispute, the aging of receivables and current payment patterns of its debtors, in establishing the required allowance.

Amounts deemed uncollectible are recorded as an allowance in the consolidated balance sheets with an offsetting charge to general and administrative expenses in the consolidated statements of comprehensive income. Accounts receivable which are deemed to be uncollectible are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Group does not have any off-balance sheet credit exposure related to its customers.

(j) Inventories

Inventories, consisting of products available for sale, are stated at the lower of cost or net realizable value. Cost of inventory is determined using the first-in, first-out method. Adjustments are recorded to write down the cost of inventory to the estimated net realizable value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and the promotional environment. The Group takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the consolidated statements of comprehensive income.

(k) Property and Equipment, net

Property and equipment are stated at cost less accumulated depreciation and any recorded impairment.

Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets as follows:


Office and other equipment			3-5 years
Vehicles			10 years
Logistics, warehouse and other heavy equipment			15 years

When items are retired or otherwise disposed of, income is charged or credited for the difference between net book value and the proceeds received thereon. Ordinary maintenance and repairs are charged to expense as incurred.

(l) Software Development Costs

The Group incurs software development costs related to internal-use software and the Group's websites. No software development costs were capitalized for the years presented. All other costs, including those related to design or maintenance, are expensed as incurred.

(m) Business Combinations

The Group applies the provisions of ASC 805, Business Combinations ("ASC 805"), in accounting for our acquisitions. ASC 805 requires that we evaluate whether a transaction pertains to an acquisition of assets, or to an acquisition of a business. A business is defined as an integrated set of inputs and processes that is capable of being conducted and managed for the purpose of providing an output, or a return to investors. Asset acquisitions are accounted for by allocating the cost of the acquisition to the individual assets acquired and liabilities assumed on a relative fair value basis, whereas the acquisition of a business requires the Group to recognize separately from goodwill the assets acquired and the liabilities assumed at the acquisition date fair values.

The Group accounts for business combinations using the acquisition method. Accordingly, identifiable assets acquired and liabilities assumed are recorded at their acquisition date fair values. Goodwill as of the acquisition date is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the assets acquired and liabilities assumed. Goodwill recorded in an acquisition is assigned to applicable reporting units that

are expected to benefit from the synergies. Identifiable intangible assets with finite lives are amortized over their useful lives. Amortization of intangible assets is recorded in the consolidated statements of comprehensive income. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the business acquisition date, we record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of a business acquisition’s measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of comprehensive income.

The Group also incurs acquisition-related and other expenses including legal, banking, accounting and other advisory fees of third parties which are recorded as general and administrative expenses as incurred. The results of operations of acquired businesses are included in the consolidated financial statements from the acquisition date.

(n) Goodwill

The primary drivers that generate goodwill are the value of synergies between the acquired entities and the Group and the acquired assembled workforce, neither of which qualifies as a separately identifiable intangible asset. The Group assesses goodwill impairment at the reporting unit level annually or more frequently if indicators of impairment are present. The Group did not incur impairment charges for goodwill in 2023 and the Group had no goodwill prior to 2023.

The determination of reporting units requires judgment, and if the Group changed the definition of our reporting units, it is possible that the Group would have reached different conclusions when performing the Group's impairment tests.

The group initially evaluates qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than it’s carrying amount. If the qualitative assessment is not conclusive, we quantitatively assess the fair value of a reporting unit to test goodwill for impairment.

(o) Intangible Assets Other than Goodwill

Intangible assets, other than goodwill, primarily include customer relationships and technology assets acquired in business combinations. Intangible assets are amortized over periods ranging from 1 to 15 years, using a straight-line basis or on a basis consistent with the pattern in which the economic benefits are realized.

Intangible assets with finite useful lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the intangible assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. No impairment of intangible assets was recognized for the years ended December 31, 2021, 2022 and 2023.

(p) Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02 or ASC 842, which increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The FASB subsequently issued amendments to clarify the implementation guidance. As an emerging growth company, the Group adopted these standards on January 1, 2022, using a modified retrospective method for leases that exist at, or are entered into after, January 1, 2022, and has not recast the comparative periods presented in the consolidated financial statements. Additionally, the Group elected the package of practical expedients that allowed it not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. The Group also elected the hindsight practical expedient to determine the reasonably certain lease term for existing leases.

The Group categorizes leases at their inception as either operating or finance leases. Lease agreements mainly cover office space, warehouses, storage rack and other heavy equipment used in the warehouses. Most of these leases are operating leases; however, certain warehouse storage shelves from a third-party lessor are leased under finance leases. Leased assets pursuant to operating leases are included in operating lease right-of-use assets ("ROU"), while leased assets pursuant to finance leases are included in property and equipment, net. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Group uses a secured incremental borrowing rate as the discount rate for present value of lease payments when the rate implicit in the contract is not readily determinable. Leases that have a term of twelve months or less upon commencement date are considered short-term in nature. Accordingly, short-term leases are not included on the consolidated balance sheets and are expensed on a straight-line basis over the lease term, which commences on the date the Group has the right to control the property. For leases acquired in business combinations or asset acquisitions, ROU assets are measured at the same amount as the lease liability as adjusted to reflect favorable or unfavorable terms of the lease when compared with market terms.

(q) Revenue recognition

The Group recognizes revenues when the Group satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when the customer obtains control of that asset.

The Group evaluates whether it is appropriate to record the gross amount of merchandise sales and related costs or the net amount earned as commissions. When the Group is a principal, and the Group obtains control of the specified goods or services before they are transferred to the customers, the revenues should be recognized at the gross amount of consideration to which it expects to be entitled in exchange for the specified goods or services transferred. When the Group is an agent and its obligation is to facilitate third parties in fulfilling their performance obligation for specified goods or services, the revenues should be recognized at the net amount of commission that the Group earns in exchange for arranging for the specified goods or services to be provided by other parties. Revenues are recorded net of value-added taxes.

The Group focuses on selling large parcel merchandise to various distributors and individual customers, as well as the provision of ecommerce solutions on its own platform (“GigaCloud Marketplace”), with which the Group could democratize access and distribution globally to manufacturers (“Sellers”) and online resellers (“Buyers”) without borders. The Group’s revenues include revenues from product sales and services. Product sales include sales on the GigaCloud Marketplace (“GigaCloud 1P”) and sales to and through third-party ecommerce websites (“Off-platform ecommerce”). Service revenues are generated from services provided to registered users, including Sellers and Buyers on GigaCloud Marketplace (“GigaCloud 3P”).

GigaCloud 1P

The Group sells its merchandise to its customers, who are Buyers on the GigaCloud Marketplace. The Group recognizes revenues net of discounts and return allowances. Such revenue is recognized at the point in time when control of the merchandise is transferred to the Buyer, which occurs upon shipment out of the Group’s warehouse to the destination designated by the Buyer.

Off-platform ecommerce

There are two business lines subject to Off-platform ecommerce, which include a) product sales made to third-party ecommerce websites (“Product sales to B”) and b) product sales to individual customers through third-party ecommerce websites (“Product sales to C”).

Product sales to B

The Group sells its merchandise to third-party ecommerce websites, who typically designate carrier companies to pick up merchandise from our warehouses. The Group recognizes revenue net of discounts and return allowances. Such revenue is recognized at the point in time when the third-party ecommerce websites obtain control of the merchandise, which is shipment out of the Group’s warehouse and pick-up by the carrier companies designated by the

third-party ecommerce websites. As expenses charged by these websites are not in exchange for a distinct good or service, payments to these websites, which are the Group’s customers, are not recognized as expenses but recorded net of revenues.

Product sales to C

The Group sells its merchandise to individual customers through third-party ecommerce websites. The Group recognizes revenue when control over the merchandise is transferred to the individual customers at an amount that reflects the consideration to which we expect to be entitled to in exchange of that merchandise. Revenue is recognized at the point in time when the individual customers take possession of merchandise, which is when the merchandise is delivered to the customers. Expenses incurred for product sales made through these websites, which are considered as platform commission, are recorded as selling and marketing expenses in the consolidated statements of comprehensive income.

With respect to GigaCloud 1P and Off-platform ecommerce, the Group recognizes revenue on a gross basis as the Group is acting as a principal in these transactions and is responsible for fulfilling the promise to provide the specified merchandise. Judgment is required to estimate the variable consideration incurred, which refers to return allowances. The Group estimates the variable consideration based on the volatility of markets and its past experience with similar types of product sales, and include the amounts of variable consideration in the transaction price to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Such estimates are made using the ‘expected value’ method and is updated as and when additional information is available. Liabilities for variable consideration are included as accrued expenses and other current liabilities in the consolidated balance sheets.

GigaCloud 3P

The Group enters into contracts with customers, which often include promises to transfer multiple services. For these contracts, the Group accounts for individual performance obligations separately if they are capable of being distinct and distinct within the context of the contract. Determining whether services are considered distinct performance obligations may require significant judgment.

The Group charges commission fees for sales transactions consummated on the GigaCloud Marketplace. The Group acts as an agent, as it does not take control of the merchandise provided by Sellers at any time during the transactions and does not have latitude over pricing of the merchandise. The Group initially sets a percentage of the transacted product value as commission fee that is charged upon transaction completion; varying levels of credits are applied retrospectively to customers whose monthly transaction value reaches certain specified hurdles. Revenue from commission fees is recognized upon successful sales of the merchandise by Sellers when Buyers take ownership of the merchandise and are able to control the merchandise at their discretion. As credits, and hence the effective rate of commission fees, are refreshed and adjusted at the end of each calendar month, no estimation is required beyond the end of each month.

The Group also offers comprehensive supply chain solutions for Sellers. The Group provides services that help Sellers ship merchandise from the Sellers’ manufacturing plant to the Group’s overseas warehouses, utilizing the Group’s extensive shipping network consisting of ocean transportation providers, custom declaration agents, and domestic shipping companies. Furthermore, the Group also provides warehousing services to Sellers and Buyers through storage of merchandise in the Group’s warehouses, as well as packaging and last-mile delivery services from the Group’s warehouses to domestic destinations designated by Buyers. Revenues resulting from storage, ocean transportation services, and last-mile delivery services are recognized over time, as the Group performs contractual obligations through continuous transfer of control to Sellers or Buyers, and they could simultaneously receive and consume the benefits of the Group’s performance as it occurs; revenues from packaging services are recognized at the time the merchandise is packed and shipped, at which time the packaging service is considered completed. The Group is acting as a principal in providing aforementioned services and accordingly recognizes revenue on a gross basis as the Group determines the price and selects carriers at its own discretion.

Sellers and Buyers could choose one or several of the above-mentioned services on the GigaCloud Marketplace. Therefore, there may be multiple performance obligations included in one transaction. Revenue is allocated to each performance obligation based on its standalone selling price. The Group generally determines standalone selling prices based on observable prices. If the standalone selling price is not observable through past transactions, the Group

estimates the standalone selling price based on multiple factors, including but not limited to management approved price lists or cost-plus margin analysis.

(r) Cost of Revenues

Cost of revenues are comprised of cost of product sales and cost of services. Cost of Product sales primarily consist of the purchase price of merchandise, shipping and handling costs for self-owned merchandise, warehouse rental expenses excluding the portion allocated to cost of service revenue and abnormal capacity, packaging fees and personnel related costs. Cost of services primarily consist of domestic delivery costs, an allocated portion of warehouse rental expenses, and costs associated with the operation of the GigaCloud Marketplace.

Shipping and handling costs primarily consist of those costs incurred during the process of delivery in North America and markets in other regions, including the expenses attributable to shipment and handling activities, when the Group delivers a good to a customer.

(s) Selling and Marketing Expenses

Selling and marketing expenses mainly consist of platform service fees charged by third-party ecommerce websites arising from Product sales to C on Off-platform ecommerce channels, advertising expenses, payroll and related expenses for personnel engaged in selling and marketing activities, and rental and depreciation expenses relating to facilities and equipment used by those employees.

(t) Advertising Expenses

Advertising expenses, including advertisements through various forms of media and marketing and promotional activities, are included in “selling and marketing expenses” in the consolidated statements of comprehensive income when incurred. Total advertising expenses incurred were $1,851 thousand, $1,530 thousand and $3,908 thousand for the years ended December 31, 2021, 2022 and 2023, respectively.

(u) General and Administrative Expenses

General and administrative expenses mainly consist of share-based compensation, payroll and related costs for employees involved in general corporate functions, rental and depreciation expenses associated with the use of facilities and equipment by these employees, professional fees, and other general corporate expenses.

(v) Research and Development Expenses

Research and development expenses mainly consist of personnel costs, including share-based compensation expense associated with the Group’s engineering, programming, data analytics, and product development personnel responsible for the design, development, and testing of the Group's platform, rental and depreciation expenses associated with the use of facilities and equipment of aforementioned personnel, and information technology costs. Research and development costs are expensed as incurred.

(w) Government grants

Government grants are recognized when there is reasonable assurance that the Group will comply with the conditions attached to it and the grants will be received. The Group has received government grants in cash to support growth and competitiveness in the internet industry. No future related costs are stipulated. Government grants are recognized in the Group’s consolidated statement of comprehensive income when the grant becomes receivable. Government grants of nil, $1,085 thousand and $911 thousand were recorded in the Group’s consolidated statements of comprehensive income for the years ended December 31, 2021, 2022 and 2023, respectively. There were no significant commitments, contingencies or provisions for recapture conditions for the government grants received for the years ended December 31, 2021, 2022 and 2023.

(x) Share-based Compensation

The Group applies ASC 718 (“ASC 718”) Compensation—Share Compensation to account for its share-based payments. In accordance with ASC 718, the Group determines whether an award should be classified and accounted for as a liability award or an equity award.

Share-based awards in the form of share options, restricted shares, restricted share units and ordinary shares that are equity-classified awards are measured at the grant date fair value of the awards. Compensation expenses are recognized on a straight-line basis over the requisite service period, if and when the Group considers that it is probable that the performance condition will be achieved. When no future services are required to be performed in exchange for an award, and if such award does not contain a performance or market condition, the cost of the award is expensed on the grant date.

Share-based awards in the form of restricted share units granted to Audit Committee members are liability-classified awards, as the awards are share-settleable for a fixed monetary amount. The Company recognizes compensation cost for an award with only service condition that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant date value of such award that is vested at that date.

The Group has elected to recognize the effect of forfeitures in compensation cost as they occur. To the extent the required vesting conditions are not met resulting in the forfeiture of the share-based awards, previously recognized compensation expense relating to those awards is reversed.

A change in any of the terms or conditions of share-based awards is accounted for as a modification of the awards. “Not probable-to-probable” modification, which refers to the modification of the award that is not expected to vest under the original vest condition at the date of the modification, the compensation cost should be recognized equal to the modified award’s fair value at the date of the modification. “Probable-to-Probable” modification, which refers to the modification that does not change the expectation that the awards will ultimately vest, the cumulative amount of compensation cost that should be recognized is the original grant date fair value of the award plus any incremental fair value resulting from the modification. Incremental compensation cost shall be measured as the excess, if any, of the fair value of the modified award over the fair value of the original award immediately before its terms are modified.

(y) Employee Benefits

The Company’s subsidiaries and the VIEs in the PRC participate in a government mandated, multiemployer, defined contribution plan, pursuant to which certain retirement, medical, housing and other welfare benefits are provided to employees. PRC labor laws require the entities incorporated in the PRC to pay to the local labor bureau a monthly contribution calculated on the monthly basic compensation of qualified employees at a stated contribution rate of 25.5%. The Group has no further commitments beyond its monthly contribution. Employees in the United States are eligible to participate in one or more of savings plans that provide for periodic contributions by the Group based on plan-specific criteria, such as base pay, level and employee contributions.

For the years ended December 31, 2021, 2022 and 2023, the costs and expenses of the obligations to the defined contribution plans amounted to $1,695 thousand, $2,610 thousand and $3,711 thousand, respectively.

(z) Income Taxes

The Group accounts for income taxes using the asset and liability method. Current income taxes are provided on the basis of income before income taxes for financial reporting purposes, and adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax laws and rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the consolidated statements of comprehensive income in the period that includes the enactment date. A valuation allowance is provided to reduce the amount of deferred income tax assets if based on the weight of available evidence, it is more-

likely-than-not that some portion, or all, of the deferred income tax assets will not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of futures profitability, the duration of statutory carryforward periods, the Group’s experience with operating loss and tax credit carryforwards, if any, not expiring.

The Group applies a “more-likely-than-not” recognition threshold in the evaluation of uncertain tax positions. The Group recognizes the benefit of a tax position in its consolidated financial statements if the tax position is “more-likely-than-not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more-likely-than-not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. Unrecognized tax benefits may be affected by changes in interpretation of laws, rulings of tax authorities, tax audits, and expiry of statutory limitations. In addition, changes in facts, circumstances and new information may require the Group to adjust the recognition and measurement estimates with regard to individual tax positions. Accordingly, unrecognized tax benefits are periodically reviewed and re-assessed. Adjustments, if required, are recorded in the Group’s consolidated financial statements in the period in which the change that necessities the adjustments occur. The ultimate outcome for a particular tax position may not be determined with certainty prior to the conclusion of a tax audit and, in certain circumstances, a tax appeal or litigation process. The Group records interest and penalties related to unrecognized tax benefits (if any) in income tax expense on the consolidated statements of comprehensive income.

As disclosed in Note 17, as of December 31, 2022 and 2023, the Group had recognized tax provision on transfer pricing adjustments. Under PRC laws and regulations, an arrangement or transaction among related parties may be subject to audit or challenge by the PRC tax authorities within ten years after the taxable year when the arrangement or transaction takes place. If this occurs, the PRC tax authorities could request the Company’s subsidiaries and VIEs to adjust their taxable income in the form of a transfer pricing adjustment for PRC tax purposes if contractual arrangements among related parties do not represent arm’s length prices. Such a pricing adjustment could adversely affect the Group by increasing the Company’s subsidiaries’ and VIEs’ tax expenses without a corresponding reduction in the tax expenses, which, in turn, could lead to late payment fees and other penalties for underpayment of taxes.

(aa) Concentration and Risk

Concentration of customers and suppliers

No customers individually represented greater than 10.0% of total revenues of the Group for the years ended December 31, 2021, 2022 and 2023.


	December 31, 2022		December 31, 2023
	proportion of total accounts receivable balance		proportion of total accounts receivable balance
Customer A	28.3	%	30.2	%
Customer B	14.5	%	*
Customer C	10.1	%	*

*Less than 10.0% of total accounts receivable balance as of the year end.

During 2023, one service provider individually represented 23.4% of total purchase, and no other vendor accounted for 10% or more of total purchases.

Concentration of credit risk

Financial instruments that potentially expose the Group to concentrations of credit risk consist principally of cash, restricted cash, accounts receivable, and amounts due from third-party payment platforms.

The Group’s investment policy requires cash and restricted cash to be placed with high quality financial institutions and to limit the amount of credit risk from any one institution. The Group regularly evaluates the credit standing of the counterparties or financial institutions.

Accounts receivable (Note 4), derived from product sales and provision of services on the Group’s GigaCloud Marketplace, as well as amounts due from third-party payment platforms (Note 6) derived from payment from individual customers collected by third-party payment platforms on behalf of the Group, are exposed to credit risk. The assessment of the counter parties’ creditworthiness is primarily based on past history of making payments when due and current ability to pay, taking into account information specific to the counter parties as well as pertaining to the economic environment in which the counter parties operate. Based on this analysis, the Group determines what credit terms, if any, to offer to each counter party individually. If the assessment indicates a likelihood of collection risk, the Group will not deliver the services or sell the products to or through the counter parties or require the counter parties to pay cash in time to secure payment.

Interest rate risk

The Group’s borrowings bear interests at fixed rates. If the Group were to renew these borrowings, the Group might be subject to interest rate risk.

Foreign currency exchange rate risk

The Group is exposed to risks from foreign currency exchange rate fluctuations on the translation of foreign operations into U.S. dollars and on the purchase of goods by these foreign operations that are not denominated in their local currencies. Changes in currency rates resulted in gains (losses) of ($2.0 million), ($4.9 million) and $2.1 million for the years ended December 31, 2021, 2022 and 2023, respectively, primarily due to foreign currency exchange rate fluctuations against the U.S. dollar.

(ab) Earnings per Share

Basic earnings per share is computed by dividing net income attributable to ordinary shareholders, considering the accretions to redemption value of the preferred shares, by the weighted average number of ordinary shares outstanding during the year using the two-class method. Under the two-class method, any net income is allocated between ordinary shares and other participating securities based on their participating rights. A net loss is not allocated to participating securities when the participating securities do not have contractual obligations to share losses.

The Company’s preferred shares are participating securities as they participate in undistributed earnings on an as-converted basis. The preferred shares do not have a contractual obligation to fund or otherwise absorb the Group’s losses. Accordingly, any undistributed net income is allocated on a pro rata basis to the ordinary shares and preferred shares; whereas any undistributed net loss is allocated to ordinary shares only.

Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders, as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of shares issuable upon the conversion of the preferred shares using the as-converted method, and exercise of outstanding warrant and share-based awards using the treasury stock method. Ordinary equivalent shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive.

(ac) Fair Value Measurements

The Group utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants

would use in pricing an asset or liability in the principal or most advantageous market. The carrying amounts for the Group’s cash, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their short-term maturities. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

•Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities.

•Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full-term of the asset or liability.

•Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

Certain non-financial assets and liabilities are measured at fair value on a nonrecurring basis, including property and equipment and intangible assets acquired in a business combination as well as goodwill recognized. These assets are subject to fair value adjustments in certain circumstances, such as when there is evidence of an impairment or when an asset or disposal group is classified as held for sale.

In accounting for business acquisitions, the Group allocates the fair value of purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values. Estimating the fair value of assets acquired and liabilities assumed requires judgment, especially with respect to identified intangible assets as there may be limited or no observable transactions within the market, requiring us to develop internal models to estimate fair value. For example, estimating the fair value of identified intangible assets may require us to develop valuation assumptions, including but not limited to, future expected cash flows from these assets, synergies and the cost of capital. Certain inputs require us to determine assumptions that are reflective of a market participant view of fair value. Changes in any of these assumptions may materially impact the amount the Group recognize for identifiable assets and liabilities, in addition to the residual amount allocated to goodwill.

(ad) Segment Reporting

The Group’s chief operating decision maker has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. For the purpose of internal reporting and management’s operation review, the Group’s chief executive officer and management personnel do not segregate the Group’s business by revenue stream or geography. Management has determined that the Group has one operating segment.

Long-lived assets consist of property and equipment and operating lease right-of-use assets. The geographic information for long-lived assets as of December 31, 2022 and 2023 is as follows:


	December 31,
	2022		2023
	(In thousands)
The United States	$	144,504	$	400,554
Others	12,717		22,982
Total long-lived assets	$	157,221	$	423,536


	Year ended December 31,
Revenues by geographic region:	2021		2022		2023
	(In thousands)
Service revenues	$	98,332	$	140,628	$	199,184
Platform commission	4,814		6,872		11,187
Hong Kong	4,814		6,872		11,187
Ocean transportation service	36,257		37,957		19,703
United States	35,754		37,684		19,610
Others(1)	503		273		93
Warehousing service	10,498		16,242		24,423
United States	7,865		14,569		23,601
Others(1)	2,633		1,673		822
Last-mile delivery service	33,693		62,745		105,978
United States	31,421		60,632		101,285
Others(1)	2,272		2,113		4,693
Packaging service	5,498		7,735		17,296
United States	4,723		7,101		16,070
Others(1)	775		634		1,226
Others	7,572		9,077		20,597
United States	4,257		8,933		19,863
Others	3,315		144		734
Product revenues	$	315,865	$	349,443	$	504,647
United States	243,132		269,599		373,837
Japan	44,881		40,082		44,348
Germany	9,510		21,133		71,163
Others(1)	18,342		18,629		15,299
Total revenues	$	414,197	$	490,071	$	703,831

(1) No other individual region's revenues exceeded 10% of the Company's total revenues for the years ended December 31, 2021, 2022 and 2023.

(ae) Statutory Reserves

In accordance with the PRC Company Laws, the paid-in capitals of the PRC subsidiaries and VIEs are not allowed to be transferred to the Company by way of cash dividends, loans or advances, nor can they be distributed except in the event of a liquidation.

In addition, in accordance with the PRC Company Laws, the Group’s PRC subsidiaries and VIEs must make appropriations from their after-tax profits as determined under the generally accepted accounting principles in the PRC (‘‘PRC GAAP’’) to non-distributable reserve funds including statutory surplus fund and discretionary surplus fund. The appropriation to the statutory surplus fund must be 10% of the after-tax profits after offsetting any prior year losses as determined under PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the PRC companies. Appropriation to the discretionary surplus fund is made at the discretion of the PRC companies.

The statutory surplus fund and discretionary surplus fund are restricted for use. They may only be applied to offset losses or increase the registered capital of the respective companies. These reserves are not allowed to be transferred to the Group by way of cash dividends, loans or advances, nor can they be distributed except in the event of a liquidation.

No appropriation to the reserve fund was made by the PRC subsidiaries and VIEs, as these PRC companies had accumulated losses as determined under PRC GAAP for the years ended December 31, 2021, 2022 and 2023.

(af) Recently Adopted Accounting Pronouncements

In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, and issued subsequent amendments to the initial guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11 and ASU 2020-02, collectively referred to as “ASC 326”. ASC 326 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASC 326 eliminates the probable initial recognition threshold in current GAAP and, instead, reflects an entity’s current estimate of all expected credit losses. The adoption of this standard resulted in a change of the Group’s provision policy primarily for accounts receivable. The Group adopted this ASC 326 on January 1, 2023 with no material impact on the consolidated financial statements.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. Under ASU 2021-08, an acquirer must recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. Prior to this ASU, an acquirer generally recognized contract assets acquired and contract liabilities assumed that arose from contracts with customers at fair value on the acquisition date. The Group adopted this ASU on January 1, 2023 and the adoption did not have a material impact on the Group’s consolidated financial statements.

(ag) Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to update reportable segment disclosure requirements. The amendment is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied retrospectively to all prior periods presented in the financial statements. The Group is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. For public business entities, the amendments in this ASU are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption permitted and can be applied on either a prospective or retroactive basis. The Group is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of presentation

(a) Basis of Presentation

Share consolidation

(b) Share Consolidation

Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, and the VIEs for which the Company is the primary beneficiary.

All intercompany transactions and balances among the Company, its wholly-owned subsidiaries and the VIEs have been eliminated upon consolidation.

Use of estimates

(d) Use of Estimates

Foreign currency

(e) Foreign Currency

Commitments and contingencies

(f) Commitments and Contingencies

Cash

(g) Cash

Cash consists of deposits at financial institutions. Cash is deposited into financial institutions at the locations listed below:


	December 31,
	2022		2023
	(In thousands)
Financial institutions in the United States
- Denominated in USD	$	47,028	$	83,961
- Denominated in GBP	56		80
- Denominated in CAD	—		192
- Denominated in MXN	—		9
Total cash balances held at financial institutions in the United States	47,084		84,242
Financial institutions in Hong Kong
- Denominated in USD	40,001		3,078
- Denominated in EUR	734		22,955
- Denominated in GBP	1,635		6,756
- Denominated in JPY	316		12,871
- Denominated in HKD	67		34
Total cash balances held at financial institutions in Hong Kong	42,753		45,694
Financial institutions in Japan
- Denominated in JPY	6,640		14,055
- Denominated in USD	1,405		65
Total cash balances held at financial institutions in Japan	8,045		14,120
Financial institutions in the United Kingdom
- Denominated in GBP	104		643
- Denominated in USD	14		273
- Denominated in EUR	3,158		628
Total cash balances held at financial institutions in the United Kingdom	3,276		1,544
Financial institutions in the mainland of the PRC
- Denominated in RMB	1,616		8,557
- Denominated in USD	31,961		1,130
- Denominated in EUR	1,066		16,092
- Denominated in GBP	6,870		8,359
Total cash balances held at financial institutions in the PRC	$	41,513	$	34,138
Financial institutions in Germany


	December 31,
	2022		2023
	(In thousands)
- Denominated in EUR	$	816	$	2,960
- Denominated in USD	—		468
- Denominated in GBP	—		31
Total cash balances held at financial institutions in Germany	816		3,459
Financial institutions in Vietnam
- Denominated in VND	44		81
- Denominated in RMB	—		1
- Denominated in USD	—		1
Total cash balances held at financial institutions in Vietnam	44		83
Financial institutions in Malaysia	—		—
- Denominated in MYR	—		3
Total cash balances held at financial institutions in Malaysia	—		3
Total cash held at financial institutions	$	143,531	$	183,283

Restricted cash

(h) Restricted Cash

A reconciliation of cash and restricted cash in the consolidated balance sheets to the amounts in the consolidated statement of cash flows is as follows:


	December 31,
	2022		2023
	(In thousands)
Cash	$	143,531	$	183,283
Restricted cash	1,545		885
Total cash and restricted cash shown in the consolidated statements of cash flows	$	145,076	$	184,168

Contract balances

(i) Contract Balances

Inventories

(j) Inventories

Property and equipment, net

(k) Property and Equipment, net

Property and equipment are stated at cost less accumulated depreciation and any recorded impairment.

Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets as follows:


Office and other equipment			3-5 years
Vehicles			10 years
Logistics, warehouse and other heavy equipment			15 years

Software development costs

(l) Software Development Costs

Business combinations

(m) Business Combinations

Goodwill

(n) Goodwill

Intangible assets other than goodwill

(o) Intangible Assets Other than Goodwill

Leases

(p) Leases

Revenue recognition

(q) Revenue recognition

GigaCloud 1P

Off-platform ecommerce

Product sales to B

Product sales to C

GigaCloud 3P

estimates the standalone selling price based on multiple factors, including but not limited to management approved price lists or cost-plus margin analysis.

Cost of revenues

(r) Cost of Revenues

Selling and marketing expenses

(s) Selling and Marketing Expenses

Advertising expenses

(t) Advertising Expenses

General and administrative expenses

(u) General and Administrative Expenses

Research and development expense

(v) Research and Development Expenses

Government grants

(w) Government grants

Share-based compensation

(x) Share-based Compensation

Employee benefits

(y) Employee Benefits

Income taxes

(z) Income Taxes

Concentration and risk

(aa) Concentration and Risk

Concentration of customers and suppliers

No customers individually represented greater than 10.0% of total revenues of the Group for the years ended December 31, 2021, 2022 and 2023.


	December 31, 2022		December 31, 2023
	proportion of total accounts receivable balance		proportion of total accounts receivable balance
Customer A	28.3	%	30.2	%
Customer B	14.5	%	*
Customer C	10.1	%	*

*Less than 10.0% of total accounts receivable balance as of the year end.

During 2023, one service provider individually represented 23.4% of total purchase, and no other vendor accounted for 10% or more of total purchases.

Concentration of credit risk

Interest rate risk

The Group’s borrowings bear interests at fixed rates. If the Group were to renew these borrowings, the Group might be subject to interest rate risk.

Foreign currency exchange rate risk

Earnings per share

(ab) Earnings per Share

Fair value measurements

(ac) Fair Value Measurements

•Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities.

Segment reporting

(ad) Segment Reporting

Long-lived assets consist of property and equipment and operating lease right-of-use assets. The geographic information for long-lived assets as of December 31, 2022 and 2023 is as follows:


	December 31,
	2022		2023
	(In thousands)
The United States	$	144,504	$	400,554
Others	12,717		22,982
Total long-lived assets	$	157,221	$	423,536


	Year ended December 31,
Revenues by geographic region:	2021		2022		2023
	(In thousands)
Service revenues	$	98,332	$	140,628	$	199,184
Platform commission	4,814		6,872		11,187
Hong Kong	4,814		6,872		11,187
Ocean transportation service	36,257		37,957		19,703
United States	35,754		37,684		19,610
Others(1)	503		273		93
Warehousing service	10,498		16,242		24,423
United States	7,865		14,569		23,601
Others(1)	2,633		1,673		822
Last-mile delivery service	33,693		62,745		105,978
United States	31,421		60,632		101,285
Others(1)	2,272		2,113		4,693
Packaging service	5,498		7,735		17,296
United States	4,723		7,101		16,070
Others(1)	775		634		1,226
Others	7,572		9,077		20,597
United States	4,257		8,933		19,863
Others	3,315		144		734
Product revenues	$	315,865	$	349,443	$	504,647
United States	243,132		269,599		373,837
Japan	44,881		40,082		44,348
Germany	9,510		21,133		71,163
Others(1)	18,342		18,629		15,299
Total revenues	$	414,197	$	490,071	$	703,831

Statutory reserves

(ae) Statutory Reserves

Recently adopted accounting pronouncements

(af) Recently Adopted Accounting Pronouncements

(ag) Accounting Pronouncements Not Yet Adopted

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS In January 2024, the Company terminated the Account Control Agreements with four of its consolidated VIEs, B.T.M TRAVEL AND TRADING LTD, COMHARBOR LIMITED, BRIHOME LIMITED which are located in United Kingdom (the "U.K."), and Decobus Handel GmbH which is located in Germany. Concurrently with the termination, the Company acquired 100% equity interest of the four entities from its nominal shareholder with nominal consideration through capital contribution of insignificant amount. In February 2024, the Underwriter exercised 29,400 of its warrants under cashless exercise for the Company to issue 13,372 Class A ordinary shares in aggregate. The shares were issued on February 16, 2024, February 23, 2024 and February 28, 2024. All warrants of the underwriter have been exercised as of February 2024. On March 9, 2024, one of the Group’s warehouses in Japan, suffered damages due to a warehouse fire. While the Group is still evaluating the facts and assessing the total damages caused by the warehouse fire, the Company estimated an approximately $1.8 million damages with respect to the cost of its inventory held at the warehouse. The Group has insurance coverage associated with the damages to the inventory and warehouse equipment. Furthermore, the Group has a total of four warehouses in Japan and the Group is utilizing the other three warehouses to minimize any disruptions to the Group’s operations in Japan.

Income Tax - Schedule of the components of income before income taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Components of Income before Income taxes [Line Items]
Income (loss) before income taxes	$ 114,995	$ 31,164	$ 37,725
Hong Kong S.A.R.
Components of Income before Income taxes [Line Items]
Income (loss) before income taxes	77,199	27,832	35,825
The PRC, excluding Hong Kong S.A.R.
Components of Income before Income taxes [Line Items]
Income (loss) before income taxes	3,772	3,734	1,685
The United States
Components of Income before Income taxes [Line Items]
Income (loss) before income taxes	16,222	6,502	9,346
Germany
Components of Income before Income taxes [Line Items]
Income (loss) before income taxes	14,439	(870)	601
Others
Components of Income before Income taxes [Line Items]
Income (loss) before income taxes	$ 3,363	$ (6,034)	$ (9,732)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Revenues - Schedule of revenues are disaggregated by major products and service lines and timing of revenue recognition (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 703,831	$ 490,071	$ 414,197
Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	161,503	121,951	89,986
Transferred at point in time
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	542,328	368,120	324,211
Product sales to B
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	86,578	49,128	50,699
Product sales to C
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	118,044	68,633	76,900
Off-platform ecommerce
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	204,622	117,761	127,599
GigaCloud 1P
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	299,930	231,682	188,266
Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	95	0	0
Platform commission
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	11,187	6,872	4,814
Ocean transportation service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	19,703	37,957	36,257
Warehousing service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	24,423	16,242	10,498
Last-mile delivery service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	105,978	62,745	33,693
Packaging service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	17,296	7,735	5,498
Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	20,597	9,077	7,572
Total service revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	199,184	140,628	98,332
Revenues	199,184	140,628	98,332
Product revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	504,647	349,443	315,865
Revenues	$ 504,647	$ 349,443	$ 315,865

Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Temporary Equity

As disclosed in the Note 14, Series E Preferred Shares were converted to the Company’s Class A ordinary shares upon the completion of the Company’s IPO.


	Series E Preferred Shares
	(In thousands)
Balance as of January 1, 2021	$	25,152
Accretion of Preferred Shares	1,500
Balance as of December 31, 2021	$	26,652
Accretion of Preferred Shares	941
Conversion to Class A ordinary shares	(27,593)
Balance as of December 31, 2022	$	—

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Chief Executive Officer Trading Agreement - Class A Ordinary Shares [Member] \| Mr.Larry Lei Wu [Member]
Trading Arrangements, by Individual
Name	Mr. Larry Lei Wu
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 29, 2023
Aggregate Available	1,250,000
Chief Executive Officer Trading Agreement - Class B Ordinary Shares [Member] \| Mr.Larry Lei Wu [Member]
Trading Arrangements, by Individual
Aggregate Available	1,250,000
Other Director Or Officer Trading Agreement [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table summarizes goodwill activity:


	Amount
	(In thousands)
Balance as of January 1, 2023	$	—
Acquisitions (Note 3)	12,586
Balance as of December 31, 2023	$	12,586

2023 Goodwill Activity

Goodwill acquired during 2023 primarily relates to our acquisitions of Noble House in October 2023 and Wondersign in November 2023. See Note 3 for further discussion of business acquisitions.

Intangible Assets, net

The gross amounts and accumulated amortization of intangible assets with finite useful lives as of December 31, 2023, included in intangible assets, net in the accompanying consolidated balance sheets, are as follows:


	Useful life	Weighted Average Amortization Period	Amount
			(In thousands)
Technology assets	1.0-5.0 years	4.4 years	$	6,467
Customer relationships	15.0 years	15.0 years	2,210
Total intangible assets			8,677
Less accumulated amortization			(310)
Total intangible assets, net			$	8,367

Amortization of intangible assets with finite useful lives included in the Group's consolidated statements of comprehensive income was $310 thousand for the year ended December 31, 2023. The Group had no intangible assets prior to 2023.

Future estimated amortization expense as of December 31, 2023, for identifiable intangible assets is as follows:


	(In thousands)
2024	$	2,162
2025	1,220
2026	1,219
2027	1,219
2028	1,092
2029 and thereafter	1,455
Total amortization expense	$	8,367

Summary of Significant Accounting Policies - Summary of Long-lived Assets by Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 423,536	$ 157,221
The United States
Property, Plant and Equipment [Line Items]
Total long-lived assets	400,554	144,504
Others
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 22,982	$ 12,717

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Revenues	$ 703,831	$ 490,071	$ 414,197
Cost of revenues
Cost of revenues	515,198	406,957	324,600
Gross profit	188,633	83,114	89,597
Operating expenses
Selling and marketing expenses	41,386	24,038	25,728
General and administrative expenses	30,008	22,627	24,516
Research and development expenses	3,925	1,426	0
Losses on disposal of property and equipment	3,236	0	0
Total operating expenses	78,555	48,091	50,244
Operating income	110,078	35,023	39,353
Interest expense	(1,240)	(568)	(309)
Interest income	3,304	472	537
Foreign currency exchange gains (losses), net	2,086	(4,854)	(2,012)
Government grants	911	1,085	0
Others, net	(144)	6	156
Income before income taxes	114,995	31,164	37,725
Income tax expense	(20,887)	(7,192)	(8,468)
Net income	94,108	23,972	29,257
Accretion of Redeemable Convertible Preferred Shares	0	(941)	(1,500)
Net income attributable to ordinary shareholders	94,108	23,031	27,757
Foreign currency translation adjustment, net of nil income taxes	(278)	969	123
Total other comprehensive income (loss)	(278)	969	123
Comprehensive Income	$ 93,830	$ 24,941	$ 29,380
Net income per ordinary share
Net income per ordinary share, basic (in USD per share)	$ 2.31	$ 0.60	$ 0.88
Net income per ordinary share, diluted (in USD per share)	$ 2.30	$ 0.60	$ 0.88
Weighted average number of ordinary shares outstanding used in computing net income per ordinary share
Weighted average number of ordinary shares outstanding used in computing net income per ordinary share, basic (in shares)	40,788,448	24,412,314	10,248,079
Weighted average number of ordinary shares outstanding used in computing net income per ordinary share, diluted (in shares)	40,922,590	24,412,314	10,248,079
Total service revenues
Revenues
Revenues	$ 199,184	$ 140,628	$ 98,332
Cost of revenues
Cost of revenues	161,215	120,102	84,723
Product sales
Revenues
Revenues	504,647	349,443	315,865
Cost of revenues
Cost of revenues	$ 353,983	$ 286,855	$ 239,877

Income Tax - Schedule of income tax expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Total current tax expense	$ 20,489	$ 7,009	$ 8,337
Deferred
Total deferred tax expense	398	183	131
Income tax expense	20,887	7,192	8,468
The United States
Current
Total current tax expense	3,644	2,706	2,172
Deferred
Total deferred tax expense	463	186	170
The PRC, excluding Hong Kong S.A.R.
Current
Total current tax expense	12,386	3,886	5,750
Deferred
Total deferred tax expense	(65)	(3)	(39)
Germany
Current
Total current tax expense	3,941	261	0
Others
Current
Total current tax expense	$ 518	$ 156	$ 415

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Significant Accounting Policies - Summary of Accounts Receivable Balance (Detail) - Customer concentration risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Three customer \| Minimum \| Accounts receivable
Concentration risk percentage		10.00%
One customer \| Minimum \| Accounts receivable
Concentration risk percentage	10.00%
Customer A \| Revenue benchmark
Concentration risk percentage	30.20%	28.30%
Customer B \| Revenue benchmark
Concentration risk percentage		14.50%
Customer C \| Revenue benchmark
Concentration risk percentage		10.10%

Preferred Shares - Narrative Series B (Details) - Series B preferred stock - USD ($)	Feb. 28, 2013	Feb. 25, 2009
Temporary Equity [Line Items]
Debt instrument, face amount		$ 2,500,000
Debt instrument, interest rate (in percent)		0.00%
Preferred shares subscribed but unissued (in shares)	6,284,173
Debt instrument, convertible, conversion price (in USD per share)	$ 0.32
Preferred stock, total consideration	$ 2,000,000
Debt amount converted into shares	$ 2,500,000
Debt amount converted into shares (in shares)	7,855,214
Public offering price (in USD per share)	$ 0.32
Stock repurchased during period (in shares)	5,718,842
Larry Lei Wu
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	1,571,043
Debt instrument, convertible, conversion price (in USD per share)	$ 0.32
Preferred stock, total consideration	$ 500,000
DCM IV
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	4,462,264
Debt amount converted into shares (in shares)	5,373,699
Stock repurchased during period (in shares)	4,075,522
Stock repurchased during period	$ 1
DCM IV Affiliates
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	113,478
Debt amount converted into shares (in shares)	136,656
Stock repurchased during period (in shares)	103,643
Stock repurchased during period	$ 1
DT
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	1,708,431
Debt amount converted into shares (in shares)	2,344,859
Stock repurchased during period (in shares)	1,539,677
Stock repurchased during period	$ 1

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table summarizes goodwill activity:


	Amount
	(In thousands)
Balance as of January 1, 2023	$	—
Acquisitions (Note 3)	12,586
Balance as of December 31, 2023	$	12,586

Schedule of Acquired Finite-Lived Intangible Assets by Major Class


	Useful life	Weighted Average Amortization Period	Amount
			(In thousands)
Technology assets	1.0-5.0 years	4.4 years	$	6,467
Customer relationships	15.0 years	15.0 years	2,210
Total intangible assets			8,677
Less accumulated amortization			(310)
Total intangible assets, net			$	8,367

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future estimated amortization expense as of December 31, 2023, for identifiable intangible assets is as follows:


	(In thousands)
2024	$	2,162
2025	1,220
2026	1,219
2027	1,219
2028	1,092
2029 and thereafter	1,455
Total amortization expense	$	8,367

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Restricted Net Assets	12 Months Ended
Restricted Net Assets	Dec. 31, 2023
Disclosure Text Block [Abstract]
Restricted net assets	RESTRICTED NET ASSETS The Group’s ability to pay dividends is primarily dependent on the Group receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s subsidiaries and consolidated VIEs incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with the PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Group’s subsidiaries. In accordance with the PRC Regulations on Enterprises with Foreign Investment, a foreign invested enterprise established in the PRC is required to provide certain statutory reserve funds, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profits as reported in the enterprise’s PRC statutory financial statements. A foreign invested enterprise is required to allocate at least 10% of its annual after-tax profits to the general reserve fund until such reserve fund has reached 50% of its registered capital based on the enterprise’s PRC statutory financial statements. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserved funds can only be used for specific purposes and are not distributable as cash dividends. Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory surplus fund at least 10% of its annual after-tax profits until such statutory surplus fund has reached 50% of its registered capital based on the enterprise’s PRC statutory financial statements. A domestic enterprise is also required to provide discretionary surplus fund, at the discretion of the board of directors, from the net profits reported in the enterprise’s PRC statutory financial statements. The aforementioned reserve funds can only be used for specific purposes and are not distributable as cash dividends. As a result of these PRC laws and regulations that require annual appropriations of 10% of net after-tax profits to be set aside prior to payment of dividends as general reserve fund or statutory surplus fund, the Company’s PRC subsidiaries and consolidated VIE are restricted in their ability to transfer a portion of their net assets to the Company. Amounts restricted include paid-in capital and statutory reserve funds, as determined pursuant to the PRC GAAP. Further, as required by the Rule 5-04(c), any restrictions placed on the net assets of the consolidated entities with positive equity exceeding the 25% threshold would be required to provide parent company financial information. As the total net assets of the Company’s PRC subsidiaries and consolidated VIE did not exceed 25% of the consolidated net assets, the condensed parent company financial statements as of and for the three-year period ended December 31, 2023 are not prepared.

Revenues

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenues

REVENUES

The Group’s revenues are disaggregated by major products/service lines and timing of revenue recognition. Detailed information is specified as follows:


	Year ended December 31,
Major products/services lines	2021		2022		2023
	(In thousands)
Service revenues
Platform commission	$	4,814	$	6,872	$	11,187
Ocean transportation service	36,257		37,957		19,703
Warehousing service	10,498		16,242		24,423
Last-mile delivery service	33,693		62,745		105,978
Packaging service	5,498		7,735		17,296
Others	7,572		9,077		20,597
Total service revenues	98,332		140,628		199,184

Product revenues
Product sales to B	50,699		49,128		86,578
Product sales to C	76,900		68,633		118,044
Off-platform ecommerce	127,599		117,761		204,622
GigaCloud 1P	188,266		231,682		299,930
Others	—		—		95
Total product revenues	315,865		349,443		504,647
Revenues	$	414,197	$	490,071	$	703,831


	Year ended December 31,
Timing of revenue recognition	2021		2022		2023
	(In thousands)
Revenue from goods or services transferred to customers over time	$	89,986	$	121,951	$	161,503
Revenue from goods or services transferred to customers at a point in time	324,211		368,120		542,328
Revenues	$	414,197	$	490,071	$	703,831

Contract Liabilities

As of December 31, 2022 and 2023, the amounts of contract liabilities are $2,001 thousand and $5,537 thousand, respectively. Changes in the contract liabilities balances for the years ended December 31, 2021, 2022 and 2023 are as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Balance as of beginning of the year	$	3,424	$	3,690	$	2,001
Revenue recognized from opening balance of contract liabilities	(3,424)		(3,690)		(2,001)
Increase due to cash received	199,271		302,474		422,547
Increase due to the acquisition	—		—		2,051
Revenue recognized from cash received during the year	(195,580)		(300,439)		(419,073)
Foreign exchange effect	(1)		(34)		12
Balance as of end of the year	$	3,690	$	2,001	$	5,537

Contract liabilities relate to considerations received in advance for merchandise sales and services provided on GigaCloud Marketplace for which control of the services occur at a later point in time. The contract liabilities will be recognized as revenue when the Group fulfills its performance obligations to transfer the promised products or services to customers, which is expected to occur within one year.

The Group has elected the practical expedient in ASC 606-10-50-14(a) not to disclose the information about remaining performance obligations which are part of contracts that have an original expected duration of one year or less.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

+ Details

Net Income per Ordinary Share - Schedule of Dilutive Securities on Net Income Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted stock units (RSUs)
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive securities, effect on basic earnings per share (in shares)	103,879,000	0	0
Restricted stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive securities, effect on basic earnings per share (in shares)	30,263,000	0	0

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 5,537	$ 2,001	$ 3,690	$ 3,424
Contract with customer, timing of satisfaction of performance obligation and payment	one year

Summary of Significant Accounting Policies - Summary of Geographic information of Revenue by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 703,831	$ 490,071	$ 414,197
No region \| Minimum \| Revenue benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%
Service revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 199,184	$ 140,628	$ 98,332
Revenues	199,184	140,628	98,332
Platform commission
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	11,187	6,872	4,814
Platform commission \| Hong Kong S.A.R.
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	11,187	6,872	4,814
Ocean transportation service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	19,703	37,957	36,257
Ocean transportation service \| The United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	19,610	37,684	35,754
Ocean transportation service \| Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	93	273	503
Warehousing service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	24,423	16,242	10,498
Warehousing service \| The United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	23,601	14,569	7,865
Warehousing service \| Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	822	1,673	2,633
Last-mile delivery service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	105,978	62,745	33,693
Last-mile delivery service \| The United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	101,285	60,632	31,421
Last-mile delivery service \| Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	4,693	2,113	2,272
Packaging service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	17,296	7,735	5,498
Packaging service \| The United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	16,070	7,101	4,723
Packaging service \| Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	1,226	634	775
Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	20,597	9,077	7,572
Others \| The United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	19,863	8,933	4,257
Others \| Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	734	144	3,315
Product sales
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	504,647	349,443	315,865
Revenues	504,647	349,443	315,865
Product sales \| The United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	373,837	269,599	243,132
Product sales \| Japan
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	44,348	40,082	44,881
Product sales \| Germany
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	71,163	21,133	9,510
Product sales \| Others
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 15,299	$ 18,629	$ 18,342

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	COMMITMENTS AND CONTINGENCIES The Group leases offices and warehouse under non-cancelable operating lease agreements. Future minimum lease payments under these noncancelable lease agreements with initial terms longer than twelve months are disclosed as maturity of lease liabilities in Note 12. The Group has no other material commitments or long-term obligations as of December 31, 2023.

Preferred Shares - Narrative Series A (Details) - Series A preferred stock - USD ($) $ / shares in Units, $ in Thousands	Nov. 23, 2006	Sep. 01, 2006
Temporary Equity [Line Items]
Debt instrument, face amount		$ 600
Debt instrument, interest rate (in percent)		7.04%
Preferred shares subscribed but unissued (in shares)	122,000
Debt instrument, convertible, conversion price (in USD per share)	$ 50
Preferred stock, total consideration	$ 6,100
Debt amount converted into shares	$ 610
Debt amount converted into shares (in shares)	12,190
Public offering price (in USD per share)	$ 50
DCM IV
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	83,477
Debt amount converted into shares (in shares)	8,322
DCM IV Affiliates
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	2,123
Debt amount converted into shares (in shares)	211
DT
Temporary Equity [Line Items]
Preferred shares subscribed but unissued (in shares)	36,400
Debt amount converted into shares (in shares)	3,657

Income Tax - Schedule of reconciliation of unrecognized tax benefits from continuing operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, beginning of year	$ 2,894	$ 1,033	$ 801
Increases	451	254	232
Reclassified from prior-year income tax payable		1,607	0
Reclassified from prior-year income tax payable	(43)
Unrecognized tax benefits, end of year	$ 3,302	$ 2,894	$ 1,033

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

LEASES

The Group leases its office space and warehouse facilities under non-cancelable leases with various expiration dates. The Group also has equipment that is leased under non-cancelable finance leases. The Group considers various factors such as market conditions and the terms of any renewal options that may exist to determine whether it will renew or replace the lease. In the event the Group is reasonably certain to exercise the option to extend a lease, the Group will include the extended terms in the operating lease right-of-use asset and operating lease liability. Certain warehouse storage shelves are leased under finance leases, which have a fixed lease term of three years from the lease commencement dates. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Group recognizes lease expense for these leases on a straight-line basis over the lease term.

The gross amounts of assets and liabilities related to both operating and finance leases were as follows:


		December 31,
	Balance Sheet Caption	2022		2023
		(In thousands)
Assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	144,168	$	398,922
Finance lease right-of-use assets	Property and equipment, net	9,089		8,616
Total right-of-use assets		$	153,257	$	407,538


		December 31,
	Balance Sheet Caption	2022		2023
		(In thousands)
Liabilities:
Current:
Operating lease liabilities	Current operating lease liabilities	$	(27,653)	$	(57,949)
Finance lease liabilities	Accrued expenses and other current liabilities	(2,916)		(1,666)
Non-current:
Operating lease liabilities	Operating lease liabilities, non-current	(116,564)		(343,511)
Finance lease liabilities	Finance lease obligations, non-current	(867)		(111)
Total lease liabilities		$	(148,000)	$	(403,237)

The components of lease cost were as follows:


	Year ended December 31,
	2022		2023
	(In thousands)
Operating lease cost	$	29,564	$	40,215
Finance lease cost
Amortization of right-of-use assets	653		680
Interest on lease liabilities	557		532
Short-term lease costs	307		351
Total	$	31,081	$	41,778

Lease terms and discount rates are as follows:


	December 31,
	2022		2023
Weighted average remaining lease term (years):
Operating leases	6.05		6.45
Finance leases	1.21		0.84

Weighted average discount rate:
Operating leases	1.36	%	3.23	%
Finance leases	11.46	%	18.18	%

Future minimum lease payments as of December 31, 2023, including rental payments for lease renewal options the Group is reasonably certain to exercise were as follows:


	Operating leases		Finance leases
	(In thousands)
Maturity of Lease Liabilities
2024	$	69,464	$	1,778
2025	76,963		67
2026	73,365		45
2027	67,619		—
2028	57,086		—
Thereafter	107,143		—
Total lease payments	451,640		1,890
Less: imputed interest	(50,180)		(113)
Present value of lease liabilities	$	401,460	$	1,777

Supplemental cash flow information related to leases was as follows:


	Year ended December 31,
	2022		2023
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	27,175	$	37,730
Operating cash flows from finance leases	557		532
Financing cash flows from finance leases	3,624		2,212
Right-of-use assets obtained in exchange for lease obligations a
Operating leases	24,270		291,816
Finance leases	$	2,719	$	207

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued expenses and other current liabilities

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES


	December 31,
	2022		2023
	(In thousands)
Receipts on GigaCloud Marketplace*	$	19,772	$	29,319
Credit card payables	4,830		7,844
Salary and welfare payables	3,957		7,110
Sales refund liability	1,532		3,982
Other taxes payable	—		1,938
Finance lease obligations, current (See Note 12)	2,916		1,666
Professional fee accruals	983		921
Obligations under the remorse protection program	307		248
Prepaid consideration of restricted shares**	517		79
Liability classified share-based compensation	110		35
Other payables	2,138		4,177
Accrued expenses and other current liabilities	$	37,062	$	57,319

Preferred Shares - Narrative Series C (Details) - Comptree International Limited	Aug. 01, 2014 shares
Firedragon Holdings Inc \| Common stock
Temporary Equity [Line Items]
Stock issued during the period for acquisition shares (in shares)	2,905,802
Firedragon Holdings Inc \| Common stock \| Lianya Pan
Temporary Equity [Line Items]
Stock issued during the period for acquisition shares (in shares)	794,822
DCM Four \| Common stock
Temporary Equity [Line Items]
Stock issued during the period for acquisition shares (in shares)	964,981
DCM Four Affiliates \| Common stock
Temporary Equity [Line Items]
Stock issued during the period for acquisition shares (in shares)	24,540
DT E Commerce Investment Limited
Temporary Equity [Line Items]
Business acquisition, percentage of voting interests acquired (in percent)	100.00%
DT E Commerce Investment Limited \| Preferred Shares \| Series C preferred stock
Temporary Equity [Line Items]
Stock issued during the period for acquisition shares (in shares)	4,358,702

Property and Equipment, Net - Schedule of Carrying Amount of Property and Equipment Net Acquired Under Capital Assets (Detail) - Logistics, warehouse and other heavy equipment - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Property Plant And Equipment Under Capital Leases [Line Items]
Property and equipment	$ 10,222	$ 10,015
Less: Accumulated depreciation	(1,606)	(926)
Property and equipment, net	$ 8,616	$ 9,089

Prepayments and Other Current Assets - Additional information (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Deposits from lessors for warehouse and equipment non-current	$ 6,880	$ 3,182

Goodwill and Intangible Assets - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Total amortization expense	$ 310
Total intangible assets, net	$ 8,367	$ 0	$ 0

Inventories - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Products available for sale	$ 92,059	$ 59,829
Goods in transit	40,188	18,509
Inventories	$ 132,247	$ 78,338

Ordinary Shares - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended			12 Months Ended
	Jun. 14, 2023	Nov. 18, 2022	Jul. 11, 2021	Aug. 31, 2022	Jul. 31, 2022	Feb. 28, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 17, 2022	Dec. 31, 2020
Common stock, shares issued (in shares)									11,082,930
Common stock, shares outstanding (in shares)									11,082,930
Exercise of vested share-based awards (in shares)							4,556,061		1,587,086
Consideration of issuance of ordinary shares to the former chief financial officer (in USD)								$ 0
Share-based payment arrangement, expense		$ 59
Number of share options to be exercised (in shares)							0	4,556,061	4,170,627		4,597,156
Shares issued upon conversion (in shares)					1
Share repurchase							$ 1,594
Common Class A
Common stock, par value (in USD per share)							$ 0.05
Common stock, shares issued (in shares)							31,738,632	31,357,814
Common stock, shares outstanding (in shares)							31,455,148	31,357,814
Stock repurchase program, authorized amount	$ 25,000
Treasury stock acquired (in shares)	215,201
Share repurchase	$ 1,586
Payment of stock issuance costs	$ 8
Restricted stock
Number of restricted shares to be exercised (in shares)							10,545	69,034	0
Restricted stock \| Three year
Number of restricted shares vested (in shares)							58,489	141,864
Common Class A
Voting rights of common stock					one vote
Common Class B
Voting rights of common stock					ten votes
IPO
Share-based payment arrangement, expense				$ 8,825
Issuance of Class A ordinary shares upon the IPO (in shares)				3,381,000
Issuance price of stock (in USD per share)				$ 12.25
Net proceeds				$ 33,400
Underwriting commissions and other offering expenses				$ 8,000
Over-Allotment Option
Issuance of Class A ordinary shares upon the IPO (in shares)				441,000
Conversion of Temporary Equity Series E Preferred Shares to Class A Ordinary Shares
Common stock, par value (in USD per share)										$ 0.05
Trust Holdcos
Number of treasury stock held in a trust (in shares)						4,765,903
Number of restricted shares to be exercised (in shares)							210,898
Number of share options to be exercised (in shares)							4,555,005
Mr.Larry Lei Wu \| Conversion of Series B Redeemable Convertible Preferred Shares to ClassB Ordinary Shares
Common stock, par value (in USD per share)				$ 0.05
Re-designating ordinary shares (in shares)				1,571,043
Conversion of stock, basis (in shares)				one-for-one-basis
Conversion of stock, shares issued (in shares)				7,755,689
Other Shareholders \| Conversion of Temporary Equity Series E Preferred Shares to Class A Ordinary Shares
Common stock, par value (in USD per share)				$ 0.05
Re-designating ordinary shares (in shares)				3,999,709
Conversion of stock, basis (in shares)				one-for-one-basis
Conversion of stock, shares issued (in shares)				8,119,882
Other Shareholders \| Conversion of Preferred shares to Class A Ordinary shares
Re-designating ordinary shares (in shares)				19,856,932
Common stock
Exercise of vested share-based awards (in shares)			1,587,086						1,587,086
Number of ordinary shares issued to the former chief financial officer (in shares)						26,738		26,738
Consideration of issuance of ordinary shares to the former chief financial officer (in USD)						$ 2		$ 2
Shares acquired (in USD per share)	$ 0.05
Common stock \| Common Class A
Re-designating ordinary shares (in shares)								8,119,882
Issuance of Class A ordinary shares upon the IPO (in shares)								3,381,000
Treasury stock acquired (in shares)							215,201
Common stock \| General and administrative expenses
Share-based payment arrangement, expense							$ 0	$ 199	$ 0

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2023	Feb. 29, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-41454
Entity Registrant Name	GIGACLOUD TECHNOLOGY INC
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	4388 Shirley Avenue
Entity Address, City or Town	El Monte
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91731
Entity Address, Country	US
City Area Code	1-626
Local Phone Number	912-8886
Title of 12(b) Security	Class A ordinary shares, par value $0.05 per share
Trading Symbol	GCT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 143.2
Entity Central Index Key	0001857816
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40,797,424
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		31,470,692
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,326,732

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Products available for sale	$	59,829	$	92,059
Goods in transit	18,509		40,188
Inventories	$	78,338	$	132,247

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 183,283	$ 143,531
Restricted cash	885	1,545
Accounts receivable, net	58,876	27,142
Inventories	132,247	78,338
Prepayments and other current assets	17,516	7,566
Total current assets	392,807	258,122
Non-current assets
Operating lease right-of-use assets	398,922	144,168
Property and equipment, net	24,614	13,053
Intangible assets, net	8,367	0
Goodwill	12,586	0
Deferred tax assets	1,440	75
Other non-current assets	8,173	3,182
Total non-current assets	454,102	160,478
Total assets	846,909	418,600
Current liabilities
Current portion of long-term borrowings	0	207
Accounts payable (including accounts payable of VIEs without recourse to the Company of $4,185 and $11,563 as of December 31, 2022 and December 31, 2023, respectively)	69,757	31,573
Contract liabilities (including contract liabilities of VIEs without recourse to the Company of $385 and $736 as of December 31, 2022 and December 31, 2023, respectively)	5,537	2,001
Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company of $1,864 and $1,305 as of December 31, 2022 and December 31, 2023, respectively)	57,949	27,653
Income tax payable (including income tax payable of VIEs without recourse to the Company of $280 and $3,644 as of December 31, 2022 and December 31, 2023, respectively)	15,212	4,142
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $442 and $2,774 as of December 31, 2022 and December 31, 2023, respectively)	57,319	37,062
Total current liabilities	205,774	102,638
Non-current liabilities
Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company of $3,322 and $553 as of December 31, 2022 and December 31, 2023, respectively)	343,511	116,564
Deferred tax liabilities	3,795	472
Finance lease obligations, non-current	111	867
Non-current income tax payable	3,302	2,894
Total non-current liabilities	350,719	120,797
Total liabilities	556,493	223,435
Commitments and contingencies
Shareholders’ equity
Treasury shares, at cost (4,624,039 and 294,029 shares held as of December 31, 2022 and December 31, 2023, respectively)	(1,594)	(231)
Subscription receivable from ordinary shares	0	(81)
Additional paid-in capital	111,736	109,049
Accumulated other comprehensive income	526	804
Retained earnings	177,698	83,590
Total shareholders’ equity	290,416	195,165
Total liabilities and shareholders’ equity	846,909	418,600
Common Class A
Shareholders’ equity
Common stock issued	$ 1,584	$ 1,568
Common stock, shares outstanding (in shares)	31,455,148	31,357,814
Common Class B
Shareholders’ equity
Common stock issued	$ 466	$ 466
Common stock, shares outstanding (in shares)	9,326,732	9,326,732

Accounts Payable (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities


	December 31,
	2022		2023
	(In thousands)
Vendor payable	$	10,472	$	29,753
Shipping charges payable and others	21,101		40,004
Accounts payable	$	31,573	$	69,757

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts payable (including accounts payable of VIEs without recourse to the Company of $4,185 and $11,563 as of December 31, 2022 and December 31, 2023, respectively)	$ 69,757	$ 31,573
Contract liabilities (including contract liabilities of VIEs without recourse to the Company of $385 and $736 as of December 31, 2022 and December 31, 2023, respectively)	5,537	2,001
Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company of $1,864 and $1,305 as of December 31, 2022 and December 31, 2023, respectively)	57,949	27,653
Income tax payable (including income tax payable of VIEs without recourse to the Company of $280 and $3,644 as of December 31, 2022 and December 31, 2023, respectively)	15,212	4,142
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $442 and $2,774 as of December 31, 2022 and December 31, 2023, respectively)	57,319	37,062
Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company of $3,322 and $553 as of December 31, 2022 and December 31, 2023, respectively)	$ 343,511	$ 116,564
Treasury stock held (in shares)	294,029	4,624,039
Common Class A
Common stock, par value (in USD per share)	$ 0.05
Common stock, shares authorized (in shares)	50,673,268	50,673,268
Common stock, shares issued (in shares)	31,738,632	31,357,814
Common stock, shares outstanding (in shares)	31,455,148	31,357,814
Common Class B
Common stock, par value (in USD per share)	$ 0.05
Common stock, shares authorized (in shares)	9,326,732	9,326,732
Common stock, shares issued (in shares)	9,326,732	9,326,732
Common stock, shares outstanding (in shares)	9,326,732	9,326,732
Variable interest entity, primary beneficiary
Accounts payable (including accounts payable of VIEs without recourse to the Company of $4,185 and $11,563 as of December 31, 2022 and December 31, 2023, respectively)	$ 11,563	$ 4,185
Contract liabilities (including contract liabilities of VIEs without recourse to the Company of $385 and $736 as of December 31, 2022 and December 31, 2023, respectively)	736	385
Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company of $1,864 and $1,305 as of December 31, 2022 and December 31, 2023, respectively)	1,305	1,864
Income tax payable (including income tax payable of VIEs without recourse to the Company of $280 and $3,644 as of December 31, 2022 and December 31, 2023, respectively)	3,644	280
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $442 and $2,774 as of December 31, 2022 and December 31, 2023, respectively)	2,774	442
Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company of $3,322 and $553 as of December 31, 2022 and December 31, 2023, respectively)	$ 553	$ 3,322

Warrant - Schedule of the Fair value of the Warrant upon the issuance (Detail)	Dec. 31, 2022 $ / shares
Risk-free rate of return
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0.0314
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0.4668
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0
Fair value of underlying ordinary share
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	41.41
Expected terms
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, expected term	2 years 6 months

Property and Equipment, Net - Schedule of Depreciation Expenses on Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Depreciation Expenses On Property Plant And Equipment [Line Items]
Total depreciation expenses	$ 2,563	$ 1,386	$ 775
Cost of revenues
Schedule Of Depreciation Expenses On Property Plant And Equipment [Line Items]
Total depreciation expenses	1,920	970	573
General and administrative expenses
Schedule Of Depreciation Expenses On Property Plant And Equipment [Line Items]
Total depreciation expenses	550	416	202
Research and development expenses
Schedule Of Depreciation Expenses On Property Plant And Equipment [Line Items]
Total depreciation expenses	$ 93	$ 0	$ 0

Leases - Schedule of Lease Terms and Discount Rates (Detail)	Dec. 31, 2023	Dec. 31, 2022
Weighted average remaining lease term (years):
Operating leases	6 years 5 months 12 days	6 years 18 days
Finance leases	10 months 2 days	1 year 2 months 15 days
Weighted average discount rate:
Operating leases	3.23%	1.36%
Finance leases	18.18%	11.46%

Income Tax (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of the components of income before income taxes

The components of income before income taxes are as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Hong Kong S.A.R.	$	35,825	$	27,832	$	77,199
The PRC, excluding Hong Kong S.A.R.	1,685		3,734		3,772
The U.S.	9,346		6,502		16,222
Germany	601		(870)		14,439
Others	(9,732)		(6,034)		3,363
Total	$	37,725	$	31,164	$	114,995

Schedule of income tax expenses

For the years ended December 31, 2021, 2022 and 2023, the details of income tax expense are set forth below:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Current
— The U.S.	$	2,172	$	2,706	$	3,644
— The PRC, excluding Hong Kong S.A.R.	5,750		3,886		12,386
— Germany	—		261		3,941
— Others	415		156		518
Total current tax expense	8,337		7,009		20,489
Deferred
— The U.S.	170		186		463
— The PRC, excluding Hong Kong S.A.R.	(39)		(3)		(65)
Total deferred tax expense	131		183		398
Income tax expense	$	8,468	$	7,192	$	20,887

Schedule of effective income tax rate reconciliation

The actual income tax expense reported in the consolidated statements of comprehensive income for each of the years ended December 31, 2021, 2022 and 2023 differs from the amount computed by applying the PRC income tax rate of 25% to profit before income taxes due to the following:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Computed expected income tax expenses at the PRC tax rate of 25%	$	9,431	$	7,791	$	28,749
Tax rate differential for non-PRC entities	(134)		(1,387)		(5,289)
Preferential tax rate	(44)		(509)		(322)
Net operating loss carryforwards expired	933		12		11
Change in unrecognized tax benefits	232		254		451
Non-deductible expenses	2		2		5
Non-taxable offshore profit in Hong Kong S.A.R*	(6,148)		(4,593)		(12,779)
Special tax adjustment in the PRC**	5,589		3,263		11,618
Change in valuation allowance on deferred tax assets	(958)		1,582		(828)
Others	(435)		777		(729)
Total	$	8,468	$	7,192	$	20,887

*On the basis that the operations of GigaCloud Technology (HongKong) Limited (“Giga HK”) that gave rise to the profits derived by Giga HK were entirely undertaken outside of Hong Kong S.A.R, the corresponding profits are treated as offshore sourced and not subject to Hong Kong S.A.R. profits tax.

**As the profits derived by Giga HK were attributed to the PRC, Gigacloud Suzhou recognized Giga HK offshore sourced profits as taxable income of Gigacloud Suzhou.

Schedule of deferred tax assets and liabilities

b) Deferred tax assets and deferred tax liabilities


	December 31,
	2022		2023
	(In thousands)
Net operating losses carryforwards	$	2,786	$	2,821
Inventories under the uniform capitalization (UNICAP) rules	744		1,031
Inventory write-down	672		553
Accrued expenses and other current liabilities	308		352
Operating lease liabilities, current and non-current	33,494		62,904
Others	157		141
Less: valuation allowance	(2,786)		(2,821)
Total deferred tax assets, net	35,375		64,981
Tax impact of full expensing of qualified property and equipment	(2,370)		(4,776)
Intangibles	—		(1,608)
Finance leases	(80)		(133)
Operating lease right-of-use assets	(33,322)		(60,819)
Total gross deferred income tax liabilities	(35,772)		(67,336)
Net deferred liabilities	$	(397)	$	(2,355)

Schedule of net deferred taxes in the group

The deferred taxes noted above are classified as follows in the Group’s consolidated balance sheets:


	December 31,
	2022		2023
	(In thousands)
Deferred tax assets	$	75	$	1,440
Deferred tax liabilities	(472)		(3,795)
Net deferred liabilities	$	(397)	$	(2,355)

Schedule of changes in valuation allowance

Changes in valuation allowance are as follows:


	Year ended December 31,
	2022		2023
	(In thousands)
Balance at the beginning of the year	$	1,204	$	2,786
Additions	1,643		1,466
Decrease	(61)		(1,431)
Balance at the end of the year	$	2,786	$	2,821

Schedule of reconciliation of unrecognized tax benefits from continuing operations

A reconciliation of unrecognized tax benefits is as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Unrecognized tax benefits, beginning of year	$	801	$	1,033	$	2,894
Increases	232		254		451
Reclassified from prior-year income tax payable	—		1,607		(43)
Unrecognized tax benefits, end of year	$	1,033	$	2,894	$	3,302

Property and Equipment, Net - Schedule of Property and Equipment Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment	$ 29,590	$ 15,648
Less: Accumulated depreciation	(4,976)	(2,595)
Property and equipment, net	24,614	13,053
Office and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment	4,076	1,755
Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment	1,769	263
Logistics, warehouse and other heavy equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 23,745	$ 13,630

Business Combinations

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combinations

BUSINESS COMBINATIONS

Noble House

In October 2023, the Group completed its acquisition of Noble House Home Furnishings LLC (“Noble House”) as the successful bidder in connection with Noble House’s Chapter 11 bankruptcy proceedings. Noble House is a business to business ("B2B") distributor of indoor and outdoor home furnishing; the acquisition of Noble House accelerates our core strategy of building a diverse, large-scale B2B marketplace with high-quality, differentiated products. Noble House provides the Group with expansion of our operations into Canada and significant warehouse space.

The Group has determined the acquisition of Noble House to be a business combination under the provisions of ASC 805, as the acquisition represents an integrated set of inputs and processes that is capable of being conducted and

managed for the purpose of providing an output, or a return to investors. The aggregate consideration was approximately $77.6 million. The Noble House acquisition was funded using cash on hand from operations. The acquisition of Noble House had no impact on the Group's weighted-average shares as no shares were issued.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:


	Amount
	(In thousands)
Cash	$	511
Accounts receivable, net		26,662
Inventories		38,030
Prepayments and other current assets		782
Operating lease right-of-use assets		167,367
Property and equipment, net		14,726
Intangible assets, net		1,100
Deferred tax assets		55
Other non-current assets		2,768
Accounts payable		(11,968)
Contract liabilities		(117)
Current operating lease liabilities		(16,023)
Accrued expenses and other current liabilities		(1,565)
Operating lease liabilities, non-current		(151,344)
Finance lease obligations, non-current		(111)
Total identifiable net assets		70,873
Goodwill		6,750
Total purchase price	$	77,623

Goodwill recognized of $6.8 million represents the excess purchase price over the estimated fair value assigned to tangible and identifiable intangible assets acquired and liabilities assumed. Goodwill is attributable to expected synergies from future growth, including synergies in expansion into other markets and product types.

The intangible assets acquired consist of $1.1 million in technology assets (amortized over 1.2 years), which was measured at fair value following the cost approach. The carrying value of accounts receivable, prepayments and other current assets, other non-current assets, accounts payable, and accrued expenses and other current liabilities approximate their fair value.

Acquisition-related costs for Noble House were approximately $1.6 million. These were expensed as incurred and are included in general and administrative expenses within the consolidated statements of comprehensive income.

Since the date of the Noble House acquisition, the results of the acquisitions have been included in the Group’s consolidated results. The following amounts are included in the accompanying consolidated statements of comprehensive income for the year ended December 31, 2023:


	November 1, 2023 to December 31, 2023
	(In thousands)
Revenues	$	31,514
Net loss	$	(299)

The unaudited pro forma financial information below is presented to illustrate the estimated effects of the acquisition of Noble House, as if they had occurred on January 1, 2021:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Revenues	$	1,085,348	$	981,025	$	1,003,312
Net income (loss)	$	36,712	$	(9,083)	$	55,984

The pro forma information was prepared using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The unaudited pro forma information has been prepared for information purposes only and is not indicative of what the Group’s results of operations would have been had the transactions occurred on January 1, 2021, nor does it project the results of operations of the combined company following the transaction.

Wondersign

In November 2023, the Group acquired all outstanding equity interest of Apexis, Inc., a Florida corporation dba Wondersign (“Wondersign”), a cloud-based interactive digital signage and e-catalog management SaaS company headquartered in Tampa, Florida, with access to thousands of storefronts across the United States. Wondersign provides the Group access to brick-and-mortar retail stores and allows the Group to launch to new customer solutions. The aggregate purchase price was approximately $10 million. The Wondersign acquisition was funded using cash on hand from operations. The acquisition of Wondersign had no impact on the Group's weighted-average shares as no shares were issued.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:


	Amount
	(In thousands)
Cash	$	428
Accounts receivable, net		227
Inventories		36
Prepayments and other current assets		215
Property and equipment, net		16
Intangible assets, net		7,577
Accounts payable		(171)
Contract liabilities		(1,934)
Accrued expenses and other current liabilities		(670)
Deferred tax liabilities		(1,615)
Total identifiable net assets		4,109
Goodwill		5,836
Total purchase price	$	9,945

Goodwill recognized of $5.8 million represents the excess purchase price over the estimated fair value assigned to tangible and identifiable intangible assets acquired and liabilities assumed. Goodwill is attributable to expected synergies from future growth, including synergies in expansion into other markets and product types.

The intangible assets acquired of $7.6 million primarily consist of $5.4 million in technology assets (amortized over 5 years) and $2.2 million in customer relationships (amortized over 15 years), which was measured at fair value following the cost approach and income approach, respectively. The carrying value of accounts receivable, prepayments and other current assets, and accounts payable approximate their fair value.

Acquisition-related costs for Wondersign were approximately $338 thousand. These were expensed as incurred and are included in general and administrative expenses within the consolidated statements of comprehensive income.

Supplemental pro forma financial information as if the acquisition of Wondersign had occurred as of the beginning of the comparable prior annual reporting period has not been presented as the acquisition was not material to the Group’s results of operations for the year ended December 31, 2023.

Share-Based Compensation - Schedule of the compensation expenses recognized (Detail) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 18, 2022	Jul. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense	$ 59
Share-based payment arrangement, option
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense		$ 62	$ 0	$ 8,887	$ 9,681
Restricted stock units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			1,890	0	0
Cost of revenues \| Share-based payment arrangement, option
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			0	487	0
Cost of revenues \| Restricted stock units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			9	0	0
Selling and marketing expenses \| Share-based payment arrangement, option
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			0	748	0
Selling and marketing expenses \| Restricted stock units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			169	0	0
General and administrative expenses \| Share-based payment arrangement, option
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			0	7,652	9,681
General and administrative expenses \| Restricted stock units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			1,501	0	0
Research and development expenses \| Share-based payment arrangement, option
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			0	0	0
Research and development expenses \| Restricted stock units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense			$ 211	$ 0	$ 0

Revenues (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of revenues are disaggregated by major products and service lines and timing of revenue recognition

The Group’s revenues are disaggregated by major products/service lines and timing of revenue recognition. Detailed information is specified as follows:


	Year ended December 31,
Major products/services lines	2021		2022		2023
	(In thousands)
Service revenues
Platform commission	$	4,814	$	6,872	$	11,187
Ocean transportation service	36,257		37,957		19,703
Warehousing service	10,498		16,242		24,423
Last-mile delivery service	33,693		62,745		105,978
Packaging service	5,498		7,735		17,296
Others	7,572		9,077		20,597
Total service revenues	98,332		140,628		199,184

Product revenues
Product sales to B	50,699		49,128		86,578
Product sales to C	76,900		68,633		118,044
Off-platform ecommerce	127,599		117,761		204,622
GigaCloud 1P	188,266		231,682		299,930
Others	—		—		95
Total product revenues	315,865		349,443		504,647
Revenues	$	414,197	$	490,071	$	703,831


	Year ended December 31,
Timing of revenue recognition	2021		2022		2023
	(In thousands)
Revenue from goods or services transferred to customers over time	$	89,986	$	121,951	$	161,503
Revenue from goods or services transferred to customers at a point in time	324,211		368,120		542,328
Revenues	$	414,197	$	490,071	$	703,831

Schedule of changes in the contract liabilities

Changes in the contract liabilities balances for the years ended December 31, 2021, 2022 and 2023 are as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Balance as of beginning of the year	$	3,424	$	3,690	$	2,001
Revenue recognized from opening balance of contract liabilities	(3,424)		(3,690)		(2,001)
Increase due to cash received	199,271		302,474		422,547
Increase due to the acquisition	—		—		2,051
Revenue recognized from cash received during the year	(195,580)		(300,439)		(419,073)
Foreign exchange effect	(1)		(34)		12
Balance as of end of the year	$	3,690	$	2,001	$	5,537

Accounts Receivables, Net - Schedule of Accounts Receivable Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts receivable	$ 59,376	$ 27,379
Less: allowance for doubtful accounts	(500)	(237)	$ (151)	$ (64)
Accounts receivable, net	$ 58,876	$ 27,142

Leases - Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Operating leases
2024	$ 69,464
2025	76,963
2026	73,365
2027	67,619
2028	57,086
Thereafter	107,143
Total lease payments	451,640
Less: imputed interest	(50,180)
Present value of lease liabilities	401,460
Finance leases
2024	1,778
2025	67
2026	45
2027	0
2028	0
Thereafter	0
Total lease payments	1,890
Less: imputed interest	(113)
Present value of lease liabilities	$ 1,777

Income Tax - Schedule of Net Deferred Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 1,440	$ 75
Deferred tax liabilities	(3,795)	(472)
Net deferred liabilities	$ (2,355)	$ (397)

Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment, Net [Abstract]

Property And Equipment, Net

PROPERTY AND EQUIPMENT, NET

Property and equipment, net, as of December 31, 2022 and 2023 consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Office and other equipment	$	1,755	$	4,076
Vehicles	263		1,769
Logistics, warehouse and other heavy equipment	13,630		23,745
Property and equipment	15,648		29,590
Less: Accumulated depreciation	(2,595)		(4,976)
Property and equipment, net	$	13,053	$	24,614

The carrying amounts of the Group’s property and equipment, net, acquired under finance leases as of December 31, 2022 and 2023 were as follows:


	December 31,
	2022		2023
	(In thousands)
Logistics, warehouse and other heavy equipment	$	10,015	$	10,222
Property and equipment	10,015		10,222
Less: Accumulated depreciation	(926)		(1,606)
Property and equipment, net	$	9,089	$	8,616

Depreciation expenses on property and equipment were allocated to the following expense items:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Cost of revenues	$	573	$	970	$	1,920
General and administrative expenses	202		416		550
Research and development expenses	—		—		93
Total depreciation expenses	$	775	$	1,386	$	2,563

Summary of Significant Accounting Policies - Summary of Reconciliation of Cash and Restricted Cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash	$ 183,283	$ 143,531
Restricted cash	885	1,545
Total cash and restricted cash shown in the consolidated statements of cash flows	$ 184,168	$ 145,076	$ 63,862	$ 62,197

Business Combinations - Narrative (Details) - USD ($) $ in Thousands			1 Months Ended		12 Months Ended
	Nov. 30, 2023	Oct. 31, 2023	Nov. 30, 2023	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total purchase price					$ 87,568	$ 0	$ 0
Goodwill					12,586	$ 0
Total intangible assets					8,677
Technology assets
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total intangible assets					$ 6,467
Weighted Average Amortization Period					4 years 4 months 24 days
Customer relationships
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total intangible assets					$ 2,210
Weighted Average Amortization Period					15 years
Noble House Home Furnishings LLC
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total purchase price		$ 77,623		$ 77,600
Goodwill		6,750		$ 6,750
Acquisition related costs					$ 1,600
Noble House Home Furnishings LLC \| Technology assets
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total intangible assets		$ 1,100
Weighted Average Amortization Period					1 year 2 months 12 days
Wondersign
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total purchase price	$ 9,945		$ 10,000
Goodwill	5,836		$ 5,836
Total intangible assets	7,600
Acquisition related costs	338
Wondersign \| Technology assets
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total intangible assets	5,400
Weighted Average Amortization Period					5 years
Wondersign \| Customer relationships
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total intangible assets	$ 2,200
Weighted Average Amortization Period					15 years

Income Tax

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Tax

INCOME TAX

a) Income tax

Cayman Islands

Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders.

The United States of America

The U.S. subsidiaries are subject to U.S. federal income taxes and state and local income taxes. In connection with U.S. tax legislation enacted in December 2017, the federal income tax rate for corporations changed to 21% beginning from January 1, 2018, while state income tax rates generally remained the same as in previous years. The U.S. federal income tax rules also provide for enhanced accelerated depreciation deductions by allowing the election of full expensing of qualified property, primarily equipment, through 2022. In 2023, the enhanced accelerated depreciation deduction decreased to 80% and will continue to decrease by 20% per year thereafter until complete phase out.

Dividends received from U.S. corporation are U.S. source and would be subject to 30% withholding tax, unless reduced by a tax treaty or agreement.

Hong Kong S.A.R.

Under the current Hong Kong S.A.R. Inland Revenue Ordinance, the Company’s Hong Kong S.A.R. subsidiary is subject to Hong Kong S.A.R. profits tax at the rate of 16.5% on its taxable income generated from the operations in Hong Kong S.A.R. The first HK$2,000 thousand of assessable profits earned by a company will be taxed at 8.25% whilst the remaining profits will continue to be taxed at 16.5%. There is an anti-fragmentation measure where each group will have to nominate only one company in the group to benefit from the progressive rates.

The Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced income) Bill 2022 (“the new FSIE regime”) has been enacted in Hong Kong on December 14, 2022 and will have effect from January 1, 2023 onwards. This is to address the European Union’s inclusion of Hong Kong in the “grey list” in concern of any risk of double non-taxation arising from the tax exemption of offshore passive income for companies in Hong Kong without substantial economic substance. From January 1, 2023, offshore passive income (including interest income, dividend income or gain on disposal of equity interest (where applicable)), that is received or deemed to be received in Hong Kong (i.e., identical to the “received” concept in Singapore), would need to meet additional requirements, including, amongst others, the economic substance requirements (i.e. similar to offshore jurisdictions like Cayman Islands, British Virgin Islands, etc.) in order to continue to be entitled to the offshore income tax exemption in Hong Kong.

The PRC

Under the Enterprise Income Tax Law (“EIT Law”) in the PRC, domestic companies are subject to EIT at a uniform rate of 25%. The Company’s PRC subsidiaries and VIEs are subject to the statutory income tax rate at 25%, unless a preferential EIT rate is otherwise stipulated.

On December 24, 2019, the Company’s wholly-owned subsidiary, Gigacloud Suzhou, obtained a certificate from related authorities of local government for “Advanced Technology Service Enterprise (“ATSE”) qualification. This certificate entitled Gigacloud Suzhou to enjoy a preferential income tax rate of 15% for a period of three years from 2019 to 2021 if all the criteria for ATSE status could be satisfied in the relevant years. Subsequently, Gigacloud Suzhou renewed and obtained the ATSE certificate in early 2023, which entitles Gigacloud Suzhou to the preferential tax rate of 15% from 2022 to 2024 if all the criteria for ATSE status could be satisfied in the relevant year.

Under the EIT Law and its implementation rules, an enterprise established outside China with a “place of effective management” within China is considered a China resident enterprise for Chinese enterprise income tax purposes. A China resident enterprise is generally subject to certain Chinese tax reporting obligations and a uniform 25% enterprise income tax rate on its worldwide income. The implementation rules to the EIT Law provide that non-resident legal entities are considered PRC residents if substantial and overall management and control over the manufacturing and business

operations, personnel, accounting, properties, etc., occurs within the PRC. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Company does not believe that the legal entities organized outside the PRC should be treated as residents for EIT Law purposes. If the PRC tax authorities subsequently determine that the Company and its subsidiaries registered outside the PRC are deemed resident enterprises, the Company and its subsidiaries registered outside the PRC will be subject to the PRC income tax at a rate of 25%.

Dividends paid to non-PRC-resident corporate investor from profits earned by the PRC subsidiaries after January 1, 2008 would be subject to a withholding tax. The EIT Law and its relevant regulations impose a withholding tax at 10%, unless reduced by a tax treaty or agreement, for dividends distributed by a PRC-resident enterprise to its non-PRC-resident corporate investor for earnings generated beginning on January 1, 2008. As at December 31, 2021, 2022 and 2023, earnings from all foreign subsidiaries and VIEs will be indefinitely reinvested. Hence, the Group has not provided for deferred tax liabilities on undistributed earnings for PRC subsidiaries.

Germany

Under the current laws of Germany, the Company’s German subsidiaries are subject to income tax at a standard rate of 15% (15.825% including solidarity surcharge), plus municipal trade tax of 14%-17%.

The components of income before income taxes are as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Hong Kong S.A.R.	$	35,825	$	27,832	$	77,199
The PRC, excluding Hong Kong S.A.R.	1,685		3,734		3,772
The U.S.	9,346		6,502		16,222
Germany	601		(870)		14,439
Others	(9,732)		(6,034)		3,363
Total	$	37,725	$	31,164	$	114,995

For the years ended December 31, 2021, 2022 and 2023, the details of income tax expense are set forth below:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Current
— The U.S.	$	2,172	$	2,706	$	3,644
— The PRC, excluding Hong Kong S.A.R.	5,750		3,886		12,386
— Germany	—		261		3,941
— Others	415		156		518
Total current tax expense	8,337		7,009		20,489
Deferred
— The U.S.	170		186		463
— The PRC, excluding Hong Kong S.A.R.	(39)		(3)		(65)
Total deferred tax expense	131		183		398
Income tax expense	$	8,468	$	7,192	$	20,887

The Group prepared the income tax rate reconciliation using the income tax rate of PRC where the Group’s major operation domiciles.


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Computed expected income tax expenses at the PRC tax rate of 25%	$	9,431	$	7,791	$	28,749
Tax rate differential for non-PRC entities	(134)		(1,387)		(5,289)
Preferential tax rate	(44)		(509)		(322)
Net operating loss carryforwards expired	933		12		11
Change in unrecognized tax benefits	232		254		451
Non-deductible expenses	2		2		5
Non-taxable offshore profit in Hong Kong S.A.R*	(6,148)		(4,593)		(12,779)
Special tax adjustment in the PRC**	5,589		3,263		11,618
Change in valuation allowance on deferred tax assets	(958)		1,582		(828)
Others	(435)		777		(729)
Total	$	8,468	$	7,192	$	20,887

**As the profits derived by Giga HK were attributed to the PRC, Gigacloud Suzhou recognized Giga HK offshore sourced profits as taxable income of Gigacloud Suzhou.

b) Deferred tax assets and deferred tax liabilities


	December 31,
	2022		2023
	(In thousands)
Net operating losses carryforwards	$	2,786	$	2,821
Inventories under the uniform capitalization (UNICAP) rules	744		1,031
Inventory write-down	672		553
Accrued expenses and other current liabilities	308		352
Operating lease liabilities, current and non-current	33,494		62,904
Others	157		141
Less: valuation allowance	(2,786)		(2,821)
Total deferred tax assets, net	35,375		64,981
Tax impact of full expensing of qualified property and equipment	(2,370)		(4,776)
Intangibles	—		(1,608)
Finance leases	(80)		(133)
Operating lease right-of-use assets	(33,322)		(60,819)
Total gross deferred income tax liabilities	(35,772)		(67,336)
Net deferred liabilities	$	(397)	$	(2,355)

The deferred taxes noted above are classified as follows in the Group’s consolidated balance sheets:


	December 31,
	2022		2023
	(In thousands)
Deferred tax assets	$	75	$	1,440
Deferred tax liabilities	(472)		(3,795)
Net deferred liabilities	$	(397)	$	(2,355)

Changes in valuation allowance are as follows:


	Year ended December 31,
	2022		2023
	(In thousands)
Balance at the beginning of the year	$	1,204	$	2,786
Additions	1,643		1,466
Decrease	(61)		(1,431)
Balance at the end of the year	$	2,786	$	2,821

Unremitted Earnings

As of December 31, 2021, 2022 and 2023, the Group has not respectively recorded approximately $4,224 thousand, $5,933 thousand and $12,545 thousand, of deferred tax liabilities associated with remaining unremitted foreign earnings considered indefinitely reinvested, for which foreign income and withholding taxes would be due upon repatriation.

Net Operating Losses and Valuation Allowances

Net operating losses carryforwards of the Company’s subsidiaries and VIEs in jurisdictions other than the PRC do not expire. The net operating losses carryforwards of the Company’s PRC subsidiaries and VIE amounted to $356 thousand,$595 thousand and $531 thousand as of December 31, 2021, 2022 and 2023. $25 thousand, $16 thousand, $116 thousand, $354 thousand and $20 thousand will expire if unused by December 31, 2024, 2025, 2026, 2027 and 2028, respectively. As of December 31, 2023, the net operating loss carryforwards of the Group’s subsidiary incorporated in the United Kingdom amounted to $8,336 thousand, do not expire. As of December 31, 2023, the net operating loss carryforwards of the Company’s subsidiaries incorporated in the US amounted to $2,976 thousand, $709 thousand of which will expire if unused on December 31, 2037; the remainder does not expire. As of December 31, 2023, the net operating loss carryforwards of the Group’s subsidiary incorporated in the Canada amounted to $526 thousand, all of which will expire if unused on December 31, 2033. As of December 31, 2023, the net operating loss carryforwards of the Group’s subsidiary incorporated in the Hong Kong amounted to $334 thousand and do not expire.

The recoverability of these future tax deductions is evaluated by assessing the adequacy of future expected taxable income from all sources, including taxable income in prior carryback years, reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. To the extent the Group does not consider it more-likely-than-not that a deferred tax asset will be recovered, a valuation allowance is generally established. To the extent that a valuation allowance was established, it is subsequently determined that it is more-likely-than-not that the deferred tax assets will be recovered, the change in the valuation allowance is recognized in the consolidated statements of comprehensive income.

As of December 31, 2021, 2022 and 2023, the valuation allowances of $1,204 thousand, $2,786 thousand and $2,821 thousand were related to the deferred income tax assets of the certain subsidiaries and VIEs of the Company which were in loss position. These entities were in a cumulative loss position, which is a significant negative indicator to overcome that sufficient income will be generated over the periods in which the deferred income tax assets are deductible or utilized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible or utilized. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

Uncertain Tax Positions

The benefits of uncertain tax positions are recorded in the Company’s consolidated financial statements only after determining a more-likely-than-not probability that the uncertain tax positions will sustain, if examined by taxing authorities. A recognized tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement.

As of December 31, 2021, 2022 and 2023, the amounts of unrecognized tax benefits were $1,033 thousand, $2,894 thousand and $3,302 thousand, respectively, which would affect the Group’s effective income tax rate.

A reconciliation of unrecognized tax benefits is as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Unrecognized tax benefits, beginning of year	$	801	$	1,033	$	2,894
Increases	232		254		451
Reclassified from prior-year income tax payable	—		1,607		(43)
Unrecognized tax benefits, end of year	$	1,033	$	2,894	$	3,302

The Group classifies interest and penalties related to uncertain tax benefits as income tax expense.

Due to uncertainties under the tax law, positions taken on tax returns may be challenged and ultimately disallowed by taxing authorities. Accordingly, it may not be appropriate to reflect a position taken on the tax return when the outcome of that tax position is uncertain. For the years ended December 31, 2021, 2022 and 2023, the Group recorded

the amounts of $232 thousand, $1,861 thousand and $408 thousand, respectively, which are related to uncertainty of the Company’s subsidiaries and consolidated VIEs in the PRC and the U.S. mainly with regards to the tax impact of transfer pricing adjustment. The unrecognized tax benefits balances, if recognized upon audit settlement or statute expiration, would affect the effective tax rate. The Group is currently unable to provide an estimate of a range of total amount of unrecognized tax benefits that is reasonably possible to change significantly within the next twelve months.

According to the PRC Tax Administration and Collection Law, the statute of limitation is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitation is extended to five years under special circumstances where the underpayment of taxes is more than RMB100. In the case of transfer pricing issues, the statute of limitation is 10 years. There is no statute of limitation in the case of tax evasion. The income tax returns of the Company’s PRC subsidiary and the VIEs for the years from 2018 to 2023 are open to examination by the PRC tax authorities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 17
-Subparagraph (b)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Accounts Payable and Other Liabilities Disclosure, Current [Line Items]
Receipts on GigaCloud marketplace		$ 29,319	$ 19,772
Credit card payables		7,844	4,830
Salary and welfare payables		7,110	3,957
Sales refund liability		3,982	1,532
Other taxes payable		1,938	0
Finance lease obligations, current (See Note 12)		1,666	2,916
Professional fee accruals		921	983
Obligations under the remorse protection program		248	307
Prepaid consideration of restricted shares		79	517
Liability classified share-based compensation		35	110
Other payables		4,177	2,138
Accrued expenses and other current liabilities		57,319	$ 37,062
Number of share options granted (in shares)			385,434	1,160,557
Restricted stock
Schedule of Accounts Payable and Other Liabilities Disclosure, Current [Line Items]
Stock issued during period, restricted stock award			$ 1,578
APIC, share based payment arrangement, restricted stock unit, increase for cost recognition		438
Restricted stock \| Accrued expenses and other current liabilities
Schedule of Accounts Payable and Other Liabilities Disclosure, Current [Line Items]
Remaining current workers compensation		$ 79
Restricted stock \| Employee and non-employee
Schedule of Accounts Payable and Other Liabilities Disclosure, Current [Line Items]
Number of share options granted (in shares)	210,898

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:


	Amount
	(In thousands)
Cash	$	511
Accounts receivable, net		26,662
Inventories		38,030
Prepayments and other current assets		782
Operating lease right-of-use assets		167,367
Property and equipment, net		14,726
Intangible assets, net		1,100
Deferred tax assets		55
Other non-current assets		2,768
Accounts payable		(11,968)
Contract liabilities		(117)
Current operating lease liabilities		(16,023)
Accrued expenses and other current liabilities		(1,565)
Operating lease liabilities, non-current		(151,344)
Finance lease obligations, non-current		(111)
Total identifiable net assets		70,873
Goodwill		6,750
Total purchase price	$	77,623

The following amounts are included in the accompanying consolidated statements of comprehensive income for the year ended December 31, 2023:


	November 1, 2023 to December 31, 2023
	(In thousands)
Revenues	$	31,514
Net loss	$	(299)

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:


	Amount
	(In thousands)
Cash	$	428
Accounts receivable, net		227
Inventories		36
Prepayments and other current assets		215
Property and equipment, net		16
Intangible assets, net		7,577
Accounts payable		(171)
Contract liabilities		(1,934)
Accrued expenses and other current liabilities		(670)
Deferred tax liabilities		(1,615)
Total identifiable net assets		4,109
Goodwill		5,836
Total purchase price	$	9,945

Business Acquisition, Pro Forma Information

The unaudited pro forma financial information below is presented to illustrate the estimated effects of the acquisition of Noble House, as if they had occurred on January 1, 2021:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Revenues	$	1,085,348	$	981,025	$	1,003,312
Net income (loss)	$	36,712	$	(9,083)	$	55,984

Borrowings - Additional Information (Detail) - MIZUHO Bank - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2020	Jul. 31, 2020
Long term loan one
Debt Instrument [Line Items]
Long-term debt, gross		$ 375
Long term loan two
Debt Instrument [Line Items]
Debt, terms	3 years	3 years
Long-term debt, gross	$ 756

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Accounts Receivables, Net

12 Months Ended

Dec. 31, 2023

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivables, Net

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net, consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Accounts receivable	$	27,379	$	59,376
Less: allowance for doubtful accounts	(237)		(500)
Accounts receivable, net	$	27,142	$	58,876

The movement of the allowance for doubtful accounts is as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Balance as of the beginning of the year	$	(64)	$	(151)	$	(237)
Additions charged to bad debt expense	(87)		(86)		(263)
Balance as of the end of the year	$	(151)	$	(237)	$	(500)

Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Products available for sale	$	59,829	$	92,059
Goods in transit	18,509		40,188
Inventories	$	78,338	$	132,247

Share-Based Compensation - Schedule of restricted stock unit activity (Detail) - Restricted stock units (RSUs) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Number of shares
Outstanding at January 1 (in shares) \| shares	0
Granted during the year (in shares) \| shares	412,397
Outstanding at December 31 (in shares) \| shares	412,397
Weighted average exercise price
Outstanding, weighted average grant date exercise price at January 1,2023 (in USD per share)	$ 0
Granted, weighted average grant date exercise price (in USD per share)	0
Outstanding, weighted average grant date exercise at December 31,2023 (in USD per share)	0
Weighted average grant-date fair value
Outstanding, weighted average grant date fair value at January 1 (in USD per share)	0
Weighted average grant date fair value for restricted shares granted during the period (in USD per share)	5.23
Outstanding, weighted average grant date fair value at December 31 (in USD per share)	$ 5.23
Restricted stock units, additional disclosure
Restricted stock units exercisable (in shares) \| shares	252,624
Restricted stock units exercisable, weighted average grant date exercise price (in USD per share)	$ 0
Restricted stock units exercisable, weighted average grant date fair value (in USD per share)	$ 5.37
Weighted remaining contractual years for restricted stock units outstanding	9 years 4 months 2 days
Weighted remaining contractual years for share options exercisable at year end	9 years 4 months 6 days
Aggregate intrinsic value for share options vested and expected to be vest at year end \| $	$ 2,157
Aggregate intrinsic value for share options exercisable at year end \| $	$ 1,358

Warrant - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Aug. 22, 2022	Jul. 01, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Adjustments to additional paid in capital, warrant issued	$ 748
Common Class A
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Common stock, par value (in USD per share)	$ 0.05
Underwriter \| Common Class A
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Common stock, par value (in USD per share)		$ 0.05
Percentage of exercise price to public offering price			150.00%
Number of securities called by warrants or rights (in shares)		29,400
Exercise price of warrants or rights (in USD per share)		$ 18.375
Underwriter \| Common Class A \| IPO
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Percentage of securities called by warrants or rights			1.00%
Common stock, par value (in USD per share)			$ 0.05
Public offering price (in USD per share)			$ 12.25

Subsequent Events - Additional Information (Detail) $ in Thousands			1 Months Ended	12 Months Ended
	Mar. 09, 2024 USD ($) warehouse	Feb. 29, 2024 shares	Jan. 31, 2024 vIE	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 22, 2022 shares
Subsequent Event [Line Items]
Inventory write-down \| $				$ 671	$ 318	$ 1,285
Underwriter \| Common Class A
Subsequent Event [Line Items]
Number of securities called by warrants or rights (in shares) \| shares							29,400
Subsequent event
Subsequent Event [Line Items]
Number of VIEs, agreements terminated \| vIE			4
Warehouses damaged \| warehouse	1
Inventory write-down \| $	$ 1,800
Total group warehouses \| warehouse	4
Number of warehouse utilized to minimize disruptions \| warehouse	3
Subsequent event \| Underwriter
Subsequent Event [Line Items]
Number of securities called by warrants or rights (in shares) \| shares		29,400
Subsequent event \| Underwriter \| Common Class A
Subsequent Event [Line Items]
Issuance of Class A ordinary shares upon the IPO (in shares) \| shares		13,372
B.T.M Travel and Trading Ltd, Comharbor Limited, Brihome Limited and Decobus Handel GMBH \| Subsequent event
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests acquired (in percent)			100.00%

Preferred Shares

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Preferred Shares

PREFERRED SHARES

Series A Preferred Shares

On September 1, 2006, DCM IV, L.P. (“DCM IV”), DCM Affiliates Fund IV, L.P. (“DCM IV Affiliates”, together with DCM IV are referred to as “DCM”) and DT Ventures China Fund II, L.P. (“DT”) lent loans with an aggregate amount of $600 thousand to the Company. The loans assumed an interest rate of 7.04% per annum.

On November 23, 2006, DCM IV, DCM IV Affiliates and DT respectively subscribed 83,477 shares, 2,123 shares and 36,400 shares of Series A Convertible Preferred Shares (in aggregate of 122,000 shares, “Series A Preferred Shares”), at $50 per share with total cash consideration of $6,100 thousand. On the same day, DCM IV, DCM IV Affiliates and DT converted the loans and accrued interest, with total amount of $610 thousand, into 8,322 shares, 211 shares and 3,657 shares of Series A Preferred Shares, respectively, (12,190 shares in aggregate), at $50 per share.

Series B Preferred Shares

On February 25, 2009, DCM and DT lent loans with an aggregate amount of $2,500 thousand to the Company. The loans did not bear an interest rate. On February 28, 2013, DCM IV, DCM IV Affiliates and DT respectively subscribed to 4,462,264, 113,478 and 1,708,431 of Series B Convertible Preferred Shares (in aggregate of 6,284,173 shares, “Series B Preferred Shares”), at $0.32 per share with total consideration of $2,000 thousand. On the same day, DCM IV, DCM IV Affiliates and DT converted the loans with total amount of $2,500 thousand into 5,373,699 shares, 136,656 shares and 2,344,859 shares of Series B Preferred Shares, respectively, (7,855,214 shares in aggregate) at $0.32 per share. On February 28, 2013, Larry Lei Wu subscribed 1,571,043 shares of Series B Preferred Shares at $0.32 per share with total cash consideration of $500 thousand.

On February 28, 2013, the Company entered into a share repurchase agreement, pursuant to which the Company repurchased 4,075,522 shares, 103,643 shares and 1,539,677 shares of Series B Preferred Shares from DCM IV, DCM IV Affiliates and DT, respectively, (in aggregate of 5,718,842 shares, “Repurchased Shares”), at a repurchase consideration of one U.S. dollar for each investor. All of these Repurchased Shares were canceled immediately on the same day. The Company considered such repurchase a linked transaction with the subscription of Series B Preferred Shares as mentioned in above.

Series C Preferred Shares

On August 1, 2014, the Company acquired Comptree International Limited. (“Comptree”) by issuing 2,905,802 shares of ordinary shares to FireDragon Holdings Inc. (“FireDragon”), 964,981 ordinary shares to DCM IV, 24,540 ordinary shares to DCM IV Affiliates and 4,358,702 Series C convertible Preferred Shares (“Series C Preferred Shares”) to DT eCommerce Investment Limited (“DT eCommerce”) in exchange for 100% shares of interests in Comptree held by FireDragon and DT eCommerce, for the purpose of the Group’s business expansion into the United States. FireDragon was owned by the founder of Comptree. DT eCommerce was under common control of DT. Based on the mutual understanding of all parties, 794,822 shares of ordinary shares issued to FireDragon was shares granted to Lianya Pan for his continuing service to the Group, who was the previous chief executive officer of Comptree and sole shareholder of FireDragon. The remaining ordinary shares issued to FireDragon and Series C Preferred Shares issued to DT eCommerce were considered as the acquisition consideration of Comptree.

Regarding the common shares and Series C Preferred Shares issued as mentioned above, the Company measured their fair value as of the acquisition date. Fair value is estimated based a discounted cash flow method, as of the valuation date.

Series D Preferred Shares

On March 27, 2017, Hong Kong Red Star Macalline Universal Home Furnishings Limited (“Red Star”) subscribed 2,943,786 Series D Convertible Preferred Shares (“Series D Preferred Shares”) at $2.74 per share with total cash consideration of $8,053 thousand.

Series E Preferred Shares

On November 24, 2020, Honeysuckle Creek Limited (“JD”) and HUA YUAN INTERNATIONAL LIMITED (“HUA YUAN”) respectively subscribed 2,719,802 shares and 1,279,907 Series E Convertible Redeemable Preferred Shares (in aggregate of 3,999,709 shares, “Series E Preferred Shares”), at $6.25 per share with total cash consideration of $25,000 thousand.

The rights, preferences and privileges of the Preferred Shares are as follows:

Redemption Rights

There are no redemption rights for the Series A, B, C, and D Preferred Shares.

The investors of Series E Preferred Shares have a right to require the Company to redeem their investments, at any time and from time to time on or after the date of the earliest to occur of the following (i) the Company fails to

complete a qualified IPO within seven years after the closing date; (ii) any material breach by any warrantor of any of their respective representations, warranties, covenants or undertakings under the transaction documents; (iii) any commission of, or participation in, fraudulent act or act of dishonesty by any founder against any company within the Group which has severely harm interests of the Series E shareholders; (iv) loss of control; (v) the termination of employment of Larry Lei Wu with any company within the Group; (vi) the occurrence of non-compliance with or violation of any applicable laws by any company within the Group which have a material adverse effect; (vii) the shareholders of Series A, B, C, and D Preferred Shares have become entitled to request, and have so requested, redemption of their Preferred Shares.

The redemption price equals 100% of the Series E Preferred Shares issue price with an 6% compound per annum, plus any declared but unpaid dividends on such Preferred Shares.

Conversion Rights

At the option of the holders, each Preferred Share, all or any portion thereof, may be converted at any time prior to a qualified IPO after the original issue date into ordinary shares at an initial conversion ratio of 1:1. Further, without any action being required by the holder of such share and whether or not the certificates representing such share are surrendered to the Company or its transfer agent, the Preferred Share shall automatically be converted into ordinary shares upon (i) the closing of a qualified IPO, based on the then effective applicable conversion price or (ii) the date specified by written consent or agreement of the holders of seventy-five percent (75%) of the then outstanding Preferred Shares.

In case the Company shall (a) pay a dividend or make a distribution on its ordinary shares in ordinary shares, (b) subdivide or reclassify its outstanding ordinary shares into a greater number of shares, or (c) combine or reclassify its outstanding ordinary shares into a smaller number of shares, the applicable conversion price in effect immediately prior to such event shall be adjusted so that the holder of the Preferred Shares thereafter converted shall be entitled to receive the number of ordinary shares of the Company which it would have owned or have been entitled to receive after the happening of such event had the Preferred Shares been converted immediately prior to the happening of such event. An adjustment shall become effective immediately after the record date in the case of a dividend or distribution and shall become effective on the effective date in the case of subdivision, combination or reclassification. If any dividend or distribution is not paid or made, the applicable conversion price then in effect shall be appropriately readjusted.

The conversion of Preferred Shares may be effected, to the extent permitted by the statute, by any of the following methods: (i) a redesignation of the Preferred Shares being converted; (ii) a repurchase of such Preferred Shares and issue of the relevant number of ordinary shares; or (iii) in other manner as the board of directors may determine (including affirmative vote) and as permitted by the statute.

Voting Rights

Each Preferred Share has voting rights equivalent to the number of ordinary shares into which such Preferred Shares could be then convertible.

Dividend Rights

Holders of Preferred Shares are entitled to non-cumulative dividends per Preferred Share of 8% per annum when and if declared by the board of the Company, prior and in preference to holders of all other current or future class or series of shares of the Company, including the ordinary shares. After the preferential dividends have been paid in full or declared and set apart in any fiscal year of the Company, any additional dividends out of funds legally available therefor may be declared in that fiscal year for the ordinary shares and, if such additional dividends are declared, then such additional dividends shall be declared pro rata on the ordinary shares and all Preferred Shares on an as-converted basis.

Liquidation Preferences

In the event of any liquidation, holders of the Preferred Shares shall be entitled to receive, prior and in preference to any distribution or payment shall be made to the holders of any ordinary shares, the liquidation preference amount per share is equal to one hundred percent (100%) of the original issue price on each Preferred Share (adjusted for any share splits, share dividends, combinations, recapitalizations and similar transactions), as the case may be, plus all

dividends accrued and unpaid with respect thereto (as adjusted for any share splits, share dividends, combinations, recapitalizations and similar transactions) per Series A to E Preferred Shares, except the Series C, then held by such holder.

Liquidation preference is as follows in sequence: Series E Preferred Shares, Series D Preferred Shares, Series B Preferred Shares, Series A Preferred Shares. After distribution or payment of the subscription price in full, of the liquidation preference amount distributable or payable on the Series E Preferred Shares, Series D Preferred Shares, Series B Preferred Shares and Series A Preferred Shares, the remaining assets of the Company available for distribution to members shall be distributed ratably among the holders of outstanding ordinary shares and holders of outstanding Preferred Shares on an as-converted basis.

If the Company increases its share capital at a price lower than the price paid by the investors on a per share basis, the investors have a right to require the Company to issue new shares for nil consideration (or nominal consideration) to the investors, so that the total amount paid by the investors divided by the total amount of share capital obtained is equal to the price per share in the new issuance.

Drag-along Rights

Regarding Series A, B and C Preferred Shares, in the event that (i) at any time after the closing date, the Company receives an offer from any person, who has delivered a good faith written offer to purchase all or any portion of a shareholder’s shares, including without limitation, the beneficial ownership of any shareholder’s shares through the transfer of any of the underlying equity ownership of such shareholder, that if consummated, will result in a deemed liquidation event, and (ii) such offer is approved by the holders of at least seventy-five percent (75%) of the total issued and outstanding Preferred Shares, then the Company and each shareholder agree that: (i) the Company shall send written notice to all existing shareholders within five business days of receipt of the offer; and, (ii) the holders of ordinary shares shall sell and transfer, and shall procure all holders of ordinary/preferred shares to sell and transfer, their ordinary/preferred shares on terms and conditions set forth in the offer.

Regarding Series D and E Preferred Shares, in the event that (i) at any time after the closing date, the Company receives an offer from any person, who has delivered a good faith written offer to purchase all or any portion of a shareholder’s shares, including without limitation, the benefit ownership of any shareholder’s shares through the transfer of any of the underlying equity ownership of such shareholder, that if consummated, will result in a deemed liquidation event, and (ii) such offer is approved by the holders of at least seventy-five percent (75%) of the total issued and outstanding Preferred Shares and the holders of at least fifty-one percent (51%) of the total issued and outstanding ordinary shares, then the Company and each shareholder agree that: (i) the Company shall send written notice to all existing shareholders within five business days of receipt of the offer; and, (ii) the holders of ordinary shares shall sell and transfer, and shall procure all holders of ordinary/preferred shares to sell and transfer, their ordinary/preferred shares on terms and conditions set forth in the offer.

If the Drag-along rights are triggered on or prior to the fifth anniversary from the closing date, the Drag-along rights shall not apply unless such the sale results in aggregate proceeds of an agreed amount, of at least $40 million for the Series A, B and C Preferred Shares, or $150 million for the Series D and E Preferred Shares. The Drag-along rights shall terminate upon a qualified IPO. Given the Company has been listed in August 2022 (see Note 14 for details), the Drag-along rights were terminated accordingly.

The Company classified Series E Preferred Shares as mezzanine equity in the consolidated balance sheets, as they are contingently redeemable upon occurrence of certain events outside of the sole control of the Company. The Company recognized changes in the redemption value immediately as they occur and adjust the carrying value of the Series E Preferred Shares to equal the redemption value at the end of each reporting period, as if it were also the redemption date of the Preferred Shares.

The Company classified Series A, B, C and D Preferred Shares as permanent equity according to temporary equity exception in ASC 480-10-S99-3A(3f). Once a deemed liquidation event is triggered, all preferred shareholders are entitled to request the Company to liquidate with the liquidation proceeds being distributed among all shareholders based on the stipulated liquidation preference. The Company’s shareholders would receive the same form of consideration.

Activities of the Series E Preferred Shares for the years ended December 31, 2021 and 2022 consisted of the following. As disclosed in the Note 14, Series E Preferred Shares were converted to the Company’s Class A ordinary shares upon the completion of the Company’s IPO.


	Series E Preferred Shares
	(In thousands)
Balance as of January 1, 2021	$	25,152
Accretion of Preferred Shares	1,500
Balance as of December 31, 2021	$	26,652
Accretion of Preferred Shares	941
Conversion to Class A ordinary shares	(27,593)
Balance as of December 31, 2022	$	—

Warrant (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of the fair value of the warrant upon the issuance

The fair value of the warrant upon the issuance during the year ended December 31, 2022 was estimated with the following assumptions used respectively:


			Year ended December 31,
			2022
Risk-free rate of return			3.14%
Volatility			46.68%
Expected dividend yield			—%
Fair value of underlying ordinary share			$41.41
Expected terms			2.5 years

Income Tax - Schedule of Changes in valuation allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 2,786	$ 1,204
Additions	1,466	1,643
Decrease	(1,431)	(61)
Balance at the end of the year	$ 2,821	$ 2,786

Share-Based Compensation - Schedule of the estimated fair value of the share options granted (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free rate of return	1.80%	1.46%
Volatility	43.60%	44.17%
Expected dividend yield	0.00%	0.00%
Fair value of underlying ordinary share	$ 7.5	$ 6.15
Expected terms	10 years	10 years
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise multiple	$ 2.20	$ 2.20
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise multiple	$ 2.80	$ 2.80

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Combinations - Wondersign (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 30, 2023	Nov. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill			$ 12,586	$ 0
Total purchase price			$ 87,568	$ 0	$ 0
Wondersign
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Cash	$ 428	$ 428
Accounts receivable, net	227	227
Inventories	36	36
Prepayments and other current assets	215	215
Property and equipment, net	16	16
Intangible assets, net	7,577	7,577
Accounts payable	(171)	(171)
Contract liabilities	(1,934)	(1,934)
Accrued expenses and other current liabilities	(670)	(670)
Deferred tax liabilities	(1,615)	(1,615)
Total identifiable net assets	4,109	4,109
Goodwill	5,836	5,836
Total purchase price	$ 9,945	$ 10,000

Warrant

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Warrant

WARRANT

On July 1, 2022, the Group entered into an agreement with Aegis Capital Corp. (the “Underwriter”), pursuant to which, the Group agreed to issue warrants to the Underwriter upon the completion of its IPO as additional compensation for the Underwriter’s services, which entitles the Underwriter to purchase up to 1.0% of Class A ordinary shares sold in the IPO in the par value of $0.05 per share, at the exercise price of 150% of the public offering price of $12.25 per share.

The Group issued warrants to the Underwriter at the closing of the offering on August 22, 2022, and the Underwriter is entitled to subscribe for, purchase and receive, in whole or in part, up to 29,400 Class A ordinary shares in the par value of $0.05 per share, at the exercise price of $18.375 per share, at any time beginning February 17, 2023, and at or before February 17, 2025.

The warrants are classified as equity under ASC 718. The Group initially recognized the warrants in the amount of $748 thousand in addition paid in capital based on the fair value of the warrants, which was determined using the binomial option pricing model on the issuance date. In addition, given the warrants were directly attributable to the IPO consummated, the Group recorded the cost incurred against the gross proceeds of the offering.

The fair value of the warrant upon the issuance during the year ended December 31, 2022 was estimated with the following assumptions used respectively:


			Year ended December 31,
			2022
Risk-free rate of return			3.14%
Volatility			46.68%
Expected dividend yield			—%
Fair value of underlying ordinary share			$41.41
Expected terms			2.5 years

The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the warrant. The risk-free interest rate was estimated based on the yield to maturity of U.S. treasury bonds denominated in USD for a term consistent with the expected term of the warrant in effect at the valuation date. Expected dividend yield is zero as the Group does not anticipate any dividend payments in the foreseeable future. Expected term is the contract life of the warrant. There have been no new warrants issued or exercised since issuance during the year ended December 31, 2023.

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment, Net [Abstract]

Schedule of Property and Equipment Net

Property and equipment, net, as of December 31, 2022 and 2023 consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Office and other equipment	$	1,755	$	4,076
Vehicles	263		1,769
Logistics, warehouse and other heavy equipment	13,630		23,745
Property and equipment	15,648		29,590
Less: Accumulated depreciation	(2,595)		(4,976)
Property and equipment, net	$	13,053	$	24,614

Schedule of Carrying Amount of Property and Equipment Net Acquired Under Finance Assets

The carrying amounts of the Group’s property and equipment, net, acquired under finance leases as of December 31, 2022 and 2023 were as follows:


	December 31,
	2022		2023
	(In thousands)
Logistics, warehouse and other heavy equipment	$	10,015	$	10,222
Property and equipment	10,015		10,222
Less: Accumulated depreciation	(926)		(1,606)
Property and equipment, net	$	9,089	$	8,616

Schedule of Depreciation Expenses on Property and Equipment

Depreciation expenses on property and equipment were allocated to the following expense items:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Cost of revenues	$	573	$	970	$	1,920
General and administrative expenses	202		416		550
Research and development expenses	—		—		93
Total depreciation expenses	$	775	$	1,386	$	2,563

Revenues - Schedule of Changes in the Contract Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Balance as of beginning of the year	$ 2,001	$ 3,690	$ 3,424
Revenue recognized from opening balance of contract liabilities	2,001	3,690	3,424
Increase due to cash received	422,547	302,474	199,271
Increase due to the acquisition	2,051	0	0
Revenue recognized from cash received during the year	(419,073)	(300,439)	(195,580)
Foreign exchange effect	12	(34)	(1)
Balance as of end of the year	$ 5,537	$ 2,001	$ 3,690

Description of Business and Organization (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Consolidated Assets and Liabilities Information of Group Variable Interest Entity

The following consolidated assets and liabilities information of the Group’s VIEs as of December 31, 2022 and 2023, and consolidated revenues, net income

(loss) and cash flow information for the years ended December 31, 2021, 2022 and 2023 have been included in the accompanying consolidated financial statements.


	December 31,
	2022		2023
	(In thousands)
Cash	$	5,367	$	3,963
Accounts receivable, net	2,959		2,259
Inventories	9,551		22,643
Amounts due from related parties*	1,249		3,071
Prepayments and other current assets	1,277		182
Total current assets	20,403		32,118
Property and equipment, net	548		275
Operating lease right-of-use assets	5,398		1,978
Other non-current assets	890		768
Total assets	27,239		35,139
Accounts payable	4,185		11,563
Contract liabilities	385		736
Current operating lease liabilities	1,864		1,305
Income tax payable	280		3,644
Accrued expenses and other current liabilities	442		2,774
Amounts due to related parties*	24,172		12,773
Total current liabilities	31,328		32,795
Operating lease liabilities, non-current	3,322		553
Total liabilities	$	34,650	$	33,348


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Revenues	$	47,683	$	70,635	$	74,353
Net income (loss)	751		(5,955)		11,146
Net cash provided by operating activities	69		1,410		1,115
Net cash provided by (used in) investing activities	(237)		53		(2,375)
Net cash (used in) financing activities	(68)		—		—
Net increase (decrease) in cash	(628)		1,825		(1,404)
Cash at the beginning of the year	4,170		3,542		5,367
Cash at the end of the year	$	3,542	$	5,367	$	3,963

Accounts Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2023

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Schedule of Accounts Receivable Net

Accounts receivable, net, consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Accounts receivable	$	27,379	$	59,376
Less: allowance for doubtful accounts	(237)		(500)
Accounts receivable, net	$	27,142	$	58,876

Schedule of Movement of the Allowance for Doubtful Accounts

The movement of the allowance for doubtful accounts is as follows:


	Year ended December 31,
	2021		2022		2023
	(In thousands)
Balance as of the beginning of the year	$	(64)	$	(151)	$	(237)
Additions charged to bad debt expense	(87)		(86)		(263)
Balance as of the end of the year	$	(151)	$	(237)	$	(500)

Share-Based Compensation - Schedule of the restricted shares (Detail) - Restricted stock - $ / shares	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at January 1 (in shares)		69,034	0
Granted during the year (in shares)			220,898
Number of restricted shares vested during the year (in shares)		(58,489)	(151,864)
Outstanding at December 31 (in shares)		10,545	69,034
Number of restricted shares expected to be vest at December 31, 2023 (in shares)		10,545	69,034
Outstanding, weighted average grant date fair value at January 1 (in USD per share)		$ 0.0015	$ 0
Weighted average grant date fair value for restricted shares granted during the period (in USD per share)	$ 7.48		0.2690
Weighted average grant date fair value for restricted shares vested during the period (in USD per share)		0.0015	0.3906
Outstanding, weighted average grant date fair value at December 31 (in USD per share)		0.0015	0.0015
Weighted average grant date fair value for restricted shares expected to be vest at December 31, 2023 (in USD per share)		$ 0.0015	$ 0.0015

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets, Current [Abstract]

Prepayments And Other Current Assets

PREPAYMENTS AND OTHER CURRENT ASSETS

Prepayments and other current assets are consisted of the following:


	December 31,
	2022		2023
	(In thousands)
Value-added taxes recoverable	$	201	$	—
Advances to suppliers	1,067		2,031
Amounts due from third-party payment platforms	3,814		9,945
Deposits	29		270
Prepaid expenses	1,405		3,451
Others	1,050		1,819
Prepayments and other current assets	$	7,566	$	17,516

The deposits recorded in the prepayments and other current assets represent the deposits made to lessors for leasing warehouses and equipment, which are receivable within a year. The deposits of $3,182 thousand and $6,880 thousand as of December 31, 2022 and 2023, respectively, that are expected to be received beyond a year are recorded in the non-current assets in the consolidated balance sheets.