GigaCloud Technology Inc. (NASDAQ:GCT) Q3 2023 Earnings Call Transcript

David Lau: Iman, you want to take that one?

Iman Schrock: Sure. Obviously, after the acquisition, we’ve acted swiftly to identify redundancies in staffing and cost synergies that are both having short-term and long-term effects on the profitability for the combined entities. At the same time, we’re always looking to explore for strategic options to restructure the legacy business segments that Noble House had dabbled in, which included manufacturing, retail and D2C component to drive strategic growth and focus on the core function of the business. Obviously, we’re still in the midst of executing on these particular actions. But we strongly believe that we’re on the right track and headed in the right direction, and we’re going to continue to make progress in the coming quarters. And like I said, with our plan, being to turn things around within the next few quarters, we’ll be bringing more updates to the investor community on a quarter-by-quarter basis.

Unidentified Analyst: Okay. Thank you. And the second one is, can you share some color on the Black Friday sales this year? [And did you do] (ph) any promotions on this event?

Iman Schrock: Well, obviously, we haven’t even gone into the numbers that far ahead. But I can share with you, I saw in the news that Black Friday was very strong for online e-commerce partners, but that was a general metric not broken down by anybody in particular.

Unidentified Analyst: Okay. Thank you. Thanks.

David Lau: And maybe if I can add a little bit more color around that question. Obviously, when we’re projecting and budgeting what our Q4 guidance looks like, we’ll take into account of what we think how we performed in November, which is obviously the Black Friday sales. So if I could kind of steer you to look at our guidance, I think that’s probably a pretty good indication of where we think our quarter is going to look like.

Operator: Thank you. We have no further questions at this time. I will now hand back to you for closing remarks.

Larry Wu: Great. Well, thank you all for joining. If you have any questions, please feel free to write an e-mail to our IR e-mail address. We’ll respond to you as soon as we can. And we look forward to talking to you in our next earnings call, and happy holidays to everybody.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect your lines. Thank you.

Iman Schrock: Thank you, and happy holidays, everybody.

David Lau: Thank you.