GigaCloud Technology Expands Share Buyback Program to $62 Million

GigaCloud Technology Inc has increased its share repurchase program by an additional $16 million, raising the total authorization to $62 million, effective March 28, 2025. The program, which will run until August 28, 2025, allows the company to buy back its Class A ordinary shares through various means, including open market transactions and block trades, funded by its existing cash balance. Analysts project a significant upside for GigaCloud, with an average target price of $37.37, representing a potential increase of 153.73% from the current trading price. The company has also been recognized for its strong financial position, with a free cash flow yield of 24% and revenue growth of 65% over the past year. GigaCloud specializes in B2B ecommerce solutions, connecting manufacturers with resellers globally through its GigaCloud Marketplace. The board will periodically review the repurchase program and retains the right to modify or discontinue it as needed.