GigaCloud Technology Inc

Good morning and welcome to the GigaCloud Technologies second quarter 2026 earnings conference call. With us today are GigaCloud's founder and chief executive officer, Lei Wu, its president, Iman Schrock, and its chief financial officer, Erika Wei. Lei will give opening remarks, Iman will discuss the company's operational progress, and Erika will review the financial results. After that, we will open the call to questions from the audience. As a reminder, this conference contains statements about future events and expectations that are forward-looking in nature and actual results may differ materially. Additionally, today's call will include a discussion of non-GAAP measures with the meaning of the SEC Regulation G. When required, a reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP can be found in the press release issued today by GigaCloud, which is posted on the company's website. Now I will turn the call over to Larry. Please go ahead, sir.

Thank you, operator, and thank you all for joining us. Our second quarter demonstrated the GigaCloud's resilience and adaptability. Despite ongoing pressure from across the border furniture landscape, we delivered 28% revenue growth and the record earning per share, underscoring our commitment to profitable growth. We're actively shaping the company's future by expanding our marketplace, growing our international presence, and making strategic investments that create multiple growth opportunities. Europe is a strong example of this strategy in action. The momentum we're building overseas is driving meaningful growth and demonstrating our model can scale and succeed across borders. Through disciplined execution, long-term investment, and local expertise, we are replicating our success globally. Beyond organic marketplace expansion, we are leveraging our strong balance sheet and cash flow generation to set the foundation for steady long-term growth. New Classic is a prime example. Building on experience gained with the noble house, we're executing a proven integration strategy that is squarely on track. The acquisition expands our reach broadens our offerings and strengthens our ability to serve a larger portion of the industry. We're not simply industry participants. We're shaping its future by building the industry's digital infrastructure for large parts of B2B transactions, by seamlessly connecting buyers and sellers across channels and geographies. We have created an ecosystem that meets today's demands while positioning Gigacloud for future growth. This quarter reinforces that our strategy is working. Even in the challenging environment, we continue to gain share, expand our capabilities, and deliver profitable growth. With a scalable platform, disciplined execution, and long-term focus, We believe GigaCloud remains well positioned to create meaningful value in the years ahead. Now I will turn the call to Iman for discussion of our ongoing continued progress.

Thank you, Larry, and hello, everyone. Our marketplace remains GigaCloud's core engine, delivering another strong quarter. Trailing 12-month GMV grew 21% year-over-year to $1.7 billion as of June 30, 2026, demonstrating the continued value buyers and sellers find in our platform, even in today's challenging environment. Marketplace fundamentals remain healthy. Active third-party sellers increased to 26% to 1,465, while active buyers grew 17% to 12,823. These gains reinforce the network effect at the heart of our platform. More sellers attract more buyers, and more buyers create greater opportunities for sellers, strengthening the marketplace over time. Despite declines in the U.S. furniture industry, domestic GMV increased 9% during this quarter, significantly outperforming the broader market. We continue to gain market share, reflecting the strength of our marketplace and the value of our supplier-fulfilled retailing model. Our platform serves suppliers and retailers through an integrated ecosystem designed to make large parcel B2B commerce more efficient. By providing greater flexibility, efficiency, and risk management capabilities, we help customers navigate challenging market conditions while supporting long-term growth. We remain focused on disciplined execution and operational efficiency. GigaCloud was built to perform across market cycles and our adaptability is a key competitive advantage. Tools such as dynamic pricing allow us to respond quickly to changing conditions while remaining focused on our long-term strategy. The strength of our platform and operating model gives us confidence in our ability to continue creating value, gaining share and advancing our growth objective. Europe remains one of our most exciting growth opportunities. Quarterly GMV increased 66% year over year, making the region both a meaningful growth vector and an important source of diversification. We are seeing the same strategy that fueled our U.S. success gain traction internationally. Building a strong supply foundation with 1P attracting buyers and creating a flywheel that drives 3P seller participation, product selection, transaction volume and efficiency. That flywheel is gaining momentum. We are now seeing meaningful 3P participation in response to marketplace buying demand. 3P sellers in Europe increased more than 400% year over year and now represent over 15% of Europe marketplace GMV. Thank you for joining us. and continues to be an important strategic priority. Our teams are aligning systems, processes and operations while identifying opportunities to introduce new product offerings, improve efficiency, capture synergies and leverage the scale of our platform. As we had shared during the last call, the New Classic portfolio saw an approximately 20% year-over-year decline in Q1 immediately following the close of the acquisition. The decline was due to both challenges faced by traditional wholesalers in the industry and by initial disruptions following the change in ownership. Encouragingly, that decline improved to 8% in the second quarter, reflecting stabilization and early progress from our integration efforts. We believe the larger opportunity still lies ahead. New Classic brings a strong brand, established customer relationships, and a meaningful brick and mortar distribution that complement our existing strengths. These channels create new opportunities for growth, and we are already introducing additional products and offerings to this customer base. While we are pleased with the progress made so far, we are even more excited about the opportunity ahead. We believe New Classic is well-positioned to benefit from the scale, resources, and capabilities of the GigaCloud platform, creating long-term value for customers, partners, and shareholders. Now I'll turn the call over to Erica for a discussion of our second quarter financial results.