v3.26.1
REVENUES
 6 Months Ended
Jun. 30, 2026
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:
Three Months Ended
June 30,		Six Months Ended
June 30,
Major products/services lines2026202520262025
(In thousands)
Service revenues
Platform commission$6,245 $4,806 $11,750 $9,141 
Ocean transportation service10,679 8,312 18,528 19,670 
Drayage service3,138 3,242 6,288 6,014 
Warehousing service16,043 13,480 32,110 27,558 
Packaging service9,282 8,267 18,808 15,517 
Last-mile delivery service70,039 53,949 139,032 103,193 
Others5,400 4,868 10,850 9,899 
Total service revenues120,826 96,924 237,366 190,992 
Product revenues
Product sales to B92,457 64,414 159,846 108,399 
Product sales to C100,161 66,762 185,636 119,127 
Off-platform192,618 131,176 345,482 227,526 
GigaCloud 1P98,114 94,209 188,127 175,594 
Others85 297 156 400 
Total product revenues290,817 225,682 533,765 403,520 
Revenues$411,643 $322,606 $771,131 $594,512 
Three Months Ended
June 30,		Six Months Ended
June 30,
Timing of revenue recognition2026202520262025
(In thousands)
Revenue from goods or services transferred to customers over time$100,993 $80,122 $198,141 $158,695 
Revenue from goods or services transferred to customers at a point in time310,650 242,484 572,990 435,817 
Revenues$411,643 $322,606 $771,131 $594,512 
Contract Liabilities
Changes in the contract liabilities balances for the three and six months ended June 30, 2026 and 2025 were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(In thousands)
Balance as of beginning of the period$5,890 $5,665 $6,459 $4,486 
Revenue recognized from opening balance of contract liabilities(5,890)(5,665)(6,459)(4,486)
Increase due to cash received153,752 165,441 319,606 300,902 
Revenue recognized from cash received during the period(148,316)(159,567)(314,116)(295,080)
Foreign exchange effect1 109 (53)161 
Balance as of end of the period$5,437 $5,983 $5,437 $5,983 
Contract liabilities relate to considerations received in advance for merchandise sales and services provided 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 under ASC 606-10-50-14(a) not to disclose information regarding remaining performance obligations which are part of contracts that have an original expected duration of one year or less.