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Freightos Reports Third Quarter 2025 Results

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Freightos (NASDAQ: CRGO) reported Q3 2025 revenue of $7.7M, up 24% year‑over‑year, and an annualized run rate exceeding 1.7M transactions and $1.3B GBV. Q3 transactions reached 429k (+27% YoY) and GBV-related revenue for carriers/forwarders was $336M in Q3 (+54% YoY). IFRS gross margin improved to 69.1% and non‑IFRS gross margin to 74.8%. IFRS loss was $5.0M (driven mainly by warrant fair‑value changes); Adjusted EBITDA improved to a ($2.6M) loss. Cash and equivalents were $30.6M at September 30, 2025. Management reiterated FY 2025 revenue guidance of $29.5–29.6M and FY GBV guidance of $1,268–1,272M.

Freightos (NASDAQ: CRGO) ha riportato un fatturato nel Q3 2025 di 7,7 milioni di dollari, in crescita del 24% su base annua, e un run rate annualizzato superiore a 1,7 milioni di transazioni e 1,3 miliardi di GBV. Le transazioni nel Q3 hanno raggiunto 429k (+27% YoY) e i ricavi legati al GBV per vettori/forwarders sono stati 336 milioni di dollari nel Q3 (+54% YoY). IFRS gross margin migliorata a 69,1% e non‑IFRS gross margin a 74,8%. La perdita IFRS è stata di 5,0 milioni di dollari (principalmente per cambiamenti nel fair‑value dei warrant); l'Adjusted EBITDA è migliorato a una perdita di 2,6 milioni di dollari. Le disponibilità liquide erano 30,6 milioni di dollari al 30 settembre 2025. La direzione ha ribadito le previsioni per il 2025 di ricavi di 29,5–29,6 milioni di dollari e una GBV prevista di 1.268–1.272 milioni di dollari.

Freightos (NASDAQ: CRGO) informó ingresos del tercer trimestre 2025 de 7,7 millones de dólares, un incremento del 24% interanual, y una tasa de ejecución anual que supera 1,7 millones de transacciones y 1,3 mil millones de GBV. Las transacciones del T3 alcanzaron 429k (+27% interanual) y los ingresos GBV relacionados para transportistas/forwarders fueron de 336 millones de dólares en el T3 (+54% interanual). El margen bruto IFRS subió a 69,1% y el margen bruto no IFRS a 74,8%. La pérdida IFRS fue de 5,0 millones de dólares (principalmente por cambios en el valor razonable de las warrants); el EBITDA ajustado mejoró a una pérdida de 2,6 millones de dólares. El efectivo y equivalentes era de 30,6 millones de dólares al 30 de septiembre de 2025. La dirección reiteró las previsiones de ingresos para FY 2025 de 29,5–29,6 millones de dólares y la guía GBV para FY 2025 de 1.268–1.272 millones de dólares.

Freightos (NASDAQ: CRGO)가 2025년 3분기 매출을 770만 달러로 보고했으며, 전년 대비 24% 증가했고, 연환산 실행 속도는 170만 건 이상의 거래13억 달러 GBV를 상회했습니다. 3분기 거래는 429k에 도달했으며(+27% YoY), 운송사/포워더를 위한 GBV 관련 매출은 3분기에 3.36억 달러로 전년 대비 54% 증가했습니다. IFRS 총이익률은 69.1%로 개선되었고 비-IFRS 총이익률은 74.8%였습니다. IFRS 손실은 500만 달러로, 주로 워런트 공정 가치 변동 때문이었습니다; 조정된 EBITDA는 260만 달러의 손실로 개선되었습니다. 현금 및 현금성 자산은 2025년 9월 30일 기준 3060만 달러였습니다. 경영진은 2025 회계연도 매출 가이던스를 2950만–2960만 달러, GBV 가이던스를 12.68억–12.72억 달러로 재확인했습니다.

Freightos (NASDAQ: CRGO) a publié un chiffre d'affaires du T3 2025 de 7,7 millions de dollars, en hausse de 24% sur un an, et un rythme annuel dépassant 1,7 million de transactions et 1,3 milliard de GBV. Les transactions du T3 ont atteint 429k (+27% YoY) et les revenus liés au GBV pour les transporteurs/expéditeurs étaient de 336 millions de dollars au T3 (+54% YoY). La marge brute IFRS s’est améliorée à 69,1% et la marge brute non IFRS à 74,8%. La perte IFRS était de 5,0 millions de dollars (principalement en raison des variations de juste valeur des warrants); l’EBITDA ajusté s’est amélioré pour afficher une perte de 2,6 millions de dollars. La trésorerie et équivalents étaient de 30,6 millions de dollars au 30 septembre 2025. La direction a réitéré les prévisions de revenus pour l’exercice 2025 de 29,5–29,6 millions de dollars et la prévision GBV pour 2025 de 1 268–1 272 millions de dollars.

Freightos (NASDAQ: CRGO) meldete einen Umsatz im Q3 2025 von 7,7 Mio. USD, ein Anstieg um 24% gegenüber dem Vorjahr, und eine annualisierte Laufleistung von über 1,7 Mio. Transaktionen sowie 1,3 Mrd. USD GBV. Die Transaktionen im Q3 erreichten 429k (+27% YoY) und die GBV-bezogenen Umsätze für Carrier/Forwarder betrugen im Q3 336 Mio. USD (+54% YoY). IFRS-Bruttomarge stieg auf 69,1% und die non-IFRS-Bruttomarge auf 74,8%. IFRS-Verlust betrug 5,0 Mio. USD (hauptsächlich durch Änderungen des Fair Value der Warrants); Bereinigtes EBITDA verschlechterte sich zu einem Verlust von 2,6 Mio. USD. Barmittel und Äquivalente betrugen zum 30. September 2025 30,6 Mio. USD. Die Geschäftsführung bekräftigte die Umsatzprognose für das Geschäftsjahr 2025 von 29,5–29,6 Mio. USD und die GBV-Prognose für 2025 von 1.268–1.272 Mio. USD.

Freightos (NASDAQ: CRGO) أبلغت عن عائدات الربع الثالث 2025 بمقدار 7.7 مليون دولار، بارتفاع 24% على أساس سنوي، ومعدل تشغيل سنوي يتجاوز 1.7 مليون معاملة و1.3 مليار GBV. وصلت المعاملات في الربع الثالث إلى 429 ألف (+27% سنويًا)، وكانت الإيرادات المرتبطة بـ GBV للنقل/المتقدمين للشحن 336 مليون دولار في الربع الثالث (+54% سنويًا). ارتفع الهامش الإجمالي IFRS إلى 69.1% والهامش الإجمالي غير IFRS إلى 74.8%. كانت الخسارة IFRS 5.0 مليون دولار (تعزى بشكل رئيسي إلى تغير قيمة العدوات الدونية)، وتحسن EBITDA المعدل ليصل إلى خسارة قدرها 2.6 مليون دولار. كانت السيولة النقدية وما يعادلها 30.6 مليون دولار حتى 30 سبتمبر 2025. أكدت الإدارة التوجيهات الخاصة بإيرادات السنة المالية 2025 بنطاق 29.5–29.6 مليون دولار وتوجيه GBV للسنة المالية 2025 بنطاق 1,268–1,272 مليون دولار.

Positive
  • Revenue $7.7M in Q3 2025, +24% YoY
  • Transactions 429k in Q3 2025, +27% YoY
  • IFRS gross margin improved to 69.1%
  • Adjusted EBITDA loss improved to ($2.6M) from ($2.8M)
  • Platform GBV-derived revenue $336M in Q3, +54% YoY
  • Cash and equivalents $30.6M at Sept 30, 2025
Negative
  • IFRS net loss widened to $5.0M in Q3 2025
  • Warrant fair‑value increase drove much of the IFRS loss
  • FY 2025 Adjusted EBITDA guidance negative at ($11.2)–($11.1M)

Insights

Freightos shows solid top-line growth and higher margins, while operating losses persist driven by warrant valuation.

Freightos reported third quarter revenue of $7.7 million, up 24% year‑over‑year, with record quarterly Transactions of 429k, up 27%. GBV contribution grew strongly, supporting a platform annualized run rate above $1.3B, and IFRS gross margin expanded to 69.1% from 65.0%. Cash and equivalents stood at $30.6 million, giving the company runway for near‑term execution.

The operating picture is mixed. Adjusted EBITDA improved slightly to a negative $2.6 million, but IFRS loss widened to $5.0 million mainly due to a non‑cash increase in the market price of warrants. Management expects FY2025 revenue of $29.5-29.6 million and GBV near $1.27B, assuming current freight price and volume levels. Key risks include continued macro uncertainty and pacing of enterprise purchases noted by management.

Watch near term: quarterly transaction and GBV trends, progress toward break‑even per Adjusted EBITDA guidance, and cash trend against the outlook through Q4 2025. Expect the highest informational value from actual Q4 revenue, Adjusted EBITDA, and any change to warrant fair‑value impacts within one reporting cycle.

  • Third quarter revenue up 24% year-over-year
  • Reached annualized run rate of over 1.7 million transactions and $1.3B GBV

BARCELONA, Spain, Nov. 17, 2025 /PRNewswire/ --  Freightos Limited (NASDAQ: CRGO), the leading vendor-neutral digital booking and payment platform for the international freight industry, today reported its financial results for the quarter ended September 30, 2025.

"This quarter marks another consecutive period of record revenue and transactions for Freightos as we continue to demonstrate the resilience and growing adoption of our digital freight booking platform," said Zvi Schreiber, CEO of Freightos. "Our results show how freight rate volatility is accelerating the industry's shift toward digital solutions that provide transparency and agility. While we're seeing some enterprise customers pace their solutions purchases in the current macro environment, our multimodal strategy is gaining traction, with some major freight forwarders already moving from air-only to global multimodal deployments. Our new multimodal ocean and air solution represents a substantially larger market opportunity, positioning Freightos to capture growth as carriers continue embracing digital distribution channels."

"Our revenue growth this quarter underscores the strength of our diversified business model amid market fluctuations," said Pablo Pinillos, CFO. "While we believe industry uncertainty has acted as a tailwind for platform revenue and a headwind for solutions revenue, we've met our overall revenue outlook with improved gross margins, reflecting the operating leverage we're achieving at scale. We are making steady progress toward breakeven and maintain strong cash reserves as we continue strategic investment in growth balanced with disciplined cost management."

Third Quarter 2025 Financial Highlights

  • Revenue of $7.7 million for the third quarter of 2025, an increase of 24% compared to $6.2 million in the third quarter of 2024.
  • IFRS Gross Margin of 69.1%, up from 65.0% in the third quarter of 2024. Non-IFRS Gross Margin of 74.8%, up from 72.7% for the third quarter of 2024.
  • IFRS loss of $5.0 million, compared to $2.7 million for the third quarter of 2024; the increased loss was almost entirely resulting from the increase in the market price of the Company's warrants.
  • Adjusted EBITDA of negative $2.6 million, compared to negative $2.8 million for the third quarter of 2024.
  • Cash and cash equivalents and short term bank deposit amounting to $30.6 million as of the end of September 2025.

Recent Business Highlights

  • Transactions Growth: Freightos achieved a record 429 thousand Transactions in the third quarter of 2025, up 27% year over year. This was the 23rd consecutive quarter of record Transactions. Transactions between carriers and freight forwarders continued to lead transactions growth, with the carrier portal component of the platform delivering high growth rate.
  • Carrier Growth: The number of carriers active on the platform with more than five bookings in the quarter increased from 75 in the second quarter of 2025 to 77 in the third quarter.
  • Unique Buyer Users: The number of Unique Buyer Users digitally booking freight services across the platform reached 20,600. This reflected growth in WebCargo users partially offset by some reduction in SMB North American custom clearance users as a result of market uncertainty.
  • Gross Booking Value Growth: Carriers and freight forwarders on the platform derived $336 million of revenue from the platform in Q3 2025, representing a 54% year-over-year increase. The major contributors to GBV growth were WebCargo and the portal, mirroring growth in transactions highlighted by the relatively high GBV per transaction in the portal component.
  • Revenue Growth: Third quarter revenue of $7.7 million was up 24% from the third quarter of 2024. The main contributors to the growth continued to be Freightos' acquisition of Shipsta in the last year and strong organic performance from SaaS solutions, on top of continued solid growth of the WebCargo by Freightos platform. Total Platform revenue in the third quarter was $2.6 million, up 15% from the third quarter of 2024, and Solutions revenue was $5.1 million, up 30% year over year.

Financial Outlook


Management Expectations


Q4 2025

FY 2025




Transactions (k)

438 - 444

1,636 - 1,641

Year over Year Growth

29% - 31%

26% - 26%

GBV ($m)

340 - 344

1,268 - 1,272

Year over Year Growth

56% - 58%

42% - 42%

Revenue ($m)

7.4 - 7.5

29.5 - 29.6

Year over Year Growth

20% - 22%

24% - 24%

Adjusted EBITDA ($m)

(2.7) - (2.6)

(11.2) - (11.1)

This outlook assumes freight price levels and market freight volumes as of November 2025

Further financial details are included as an appendix below.

Earnings Webcast

Freightos' management will host a webcast and conference call to discuss the results today, November 17, 2025, at 8:30 a.m. EST. To participate in the call, please pre-register at the following link:

https://freightos.zoom.us/webinar/register/WN_A2xWbYIrRz6lnetBZP8_7Q#/registration

Following registration, you will be sent the link to the conference call which is accessible either via the Zoom app, or alternatively from a dial-in telephone number.

Questions may be submitted in advance to ir@freightos.com or via Zoom during the call.

A replay of the webcast, as well as the conference call transcript, will be available on Freightos' Investor Relations website following the call.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which include the financial outlook of Freightos, are based on various assumptions, whether or not identified in this press release, and on the current expectations of Freightos, and are not predictions of actual performance. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Freightos. These forward-looking statements are subject to a number of risks and uncertainties, including: disruptions to the international freight industry, including those caused by global economic trends and policy changes, such as whether increased tariffs and protectionist trade policies being implemented by the United States and other countries will reduce shipping volume and, hence, number of Transactions, GBV and Platform revenue; Freightos' ability to successfully integrate the Shipsta business without disruption to its business; the recent military conflict in the Middle East, including whether disruptive actions by the Houthis in Yemen on the international shipping route that runs through the Red Sea will continue; competition; the ability of Freightos to build and maintain relationships with carriers, freight forwarders and importers/exporters; the ability to keep pace with rapid technological changes, particularly in artificial intelligence; Freightos' ability to retain its management and key employees; changes in applicable laws or regulations; any downturn or volatility in economic conditions whether related to reduced international trade, inflation, armed conflict or otherwise; changes in the competitive environment affecting Freightos or its users, including Freightos' ability to introduce new products or technologies; risks to Freightos' ability to protect its intellectual property and avoid infringement by others, or claims of infringement against Freightos; and those additional factors discussed under the heading "Risk Factors" in Freightos' annual report on Form 20-F filed with the SEC on March 24, 2025, and any other risk factors Freightos includes in any subsequent reports of foreign private issuer on Form 6-K furnished to the SEC. If any of these risks materializes or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks of which Freightos is not aware presently or that Freightos currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Freightos' expectations, plans or forecasts of future events and views as of the date of this press release. Freightos anticipates that subsequent events and developments will cause Freightos' assessments to change. However, while Freightos may elect to update these forward-looking statements at some point in the future, Freightos specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Freightos' assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Financial Information; Non-IFRS Financial Measures

While certain financial figures included in this press release have been computed in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, this press release does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" nor a financial statement as defined by International Accounting Standards 1 "Presentation of Financial Statements".

This press release includes certain financial measures not presented in accordance with generally accepted accounting principles of the IFRS including, but not limited to, Adjusted EBITDA. These non-IFRS measures differ from the most directly comparable measures determined under IFRS. For the historical non-IFRS results included herein, we have provided tables at the end of this press release providing a reconciliation of those results to our results achieved under the most directly comparable IFRS measures. For the forward-looking, non-IFRS data included under "Financial outlook", we have not included such a reconciliation, because the reconciliation of forward-looking data cannot be prepared without unreasonable effort. Our results and forecasts expressed as non-IFRS measures should not be considered in isolation or as an alternative to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under IFRS. You should be aware that the presentation of these measures may not be comparable to similarly-titled measures used by other companies.  Freightos believes that Adjusted EBITDA and other non-IFRS measures provide useful information to investors and others in understanding and evaluating Freightos' operating results because they provide supplemental measures of our core operating performance and offer consistency and comparability with both our own past financial performance and with corresponding financial information provided by peer companies. These non-IFRS measures are presented to permit investors and others to more fully understand how management assesses our performance for internal planning and forecasting purposes. 

Certain monetary amounts, percentages and other figures included in this press release have been subject to rounding adjustments, and therefore may not sum due to rounding.

Glossary

We have provided below a glossary of certain terms used in this press release:

  • Transactions: Number of bookings for freight services, and related services, placed by Buyers across the Freightos platform with third-party sellers and with Clearit. Sellers of Transactions include Carriers (that is, airlines, ocean liners and LCL consolidators) and also other providers of freight services such as trucking companies, freight forwarders, general sales agents, and air master loaders. The number of transactions booked on the Freightos platform in any given time period is net of transactions that were canceled prior to the end of the period. Transactions booked on white label portals hosted by Freightos are included if there is a transactional fee associated with them.
  • Carriers: Number of unique air and ocean carriers, mostly airlines, that have been sellers of transactions. For airlines, we count booking carriers, which include separate airlines within the same carrier group. We do not count dozens of other airlines that operate individual segments of air cargo transactions, as we do not have a direct booking relationship with them. Carriers include ocean less-than-container load (LCL) consolidators. In addition, we only count carriers when more than five bookings were placed with them over the course of a quarter.
  • Unique buyer users: Number of individual users placing bookings, typically counted based on unique email logins. The number of buyers, which counts unique customer businesses, does not reflect the fact that some buyers are large multinational organizations while others are small or midsize businesses. Therefore, we find it more useful to monitor the number of unique buyer users than the number of buyer businesses.
  • GBV: Total value of transactions on the Freightos platform, which is the monetary value of freight and related services contracted between buyers and sellers on the Freightos platform, plus related fees charged to buyers and sellers, and pass-through payments such as duties. GBV is converted to U.S. dollars at the time of each transaction on the Freightos platform. This metric may be similar to what others call gross merchandise value (GMV) or gross services volume (GSV). We believe that this metric reflects the scale of the Freightos platform and our opportunities to generate platform revenue.
  • Adjusted EBITDA: Loss before income taxes, finance income, finance expense, share-based compensation expense, depreciation and amortization, operating expense settled by issuance of shares, acquisition-related costs and change in fair value of warrants.
  • Platform revenue: Fees charged to buyers and sellers in relation to transactions executed on the Freightos platform. For bookings conducted by importers/exporters, our fees are typically structured as a percentage of booking value, depending on the mode and nature of the service. When freight forwarders book with carriers, the sellers often pay a pre-negotiated flat fee per transaction. When sellers transact with a buyer who is a new customer to the seller, we may charge a percentage of the booking value as a fee.
  • Solutions revenue: Primarily subscription-based SaaS and data. It is typically priced per user or per site, per time period, with larger customers such as multinational freight forwarders or enterprise shippers often negotiating fixed, all-inclusive subscriptions. Revenue from our Solutions segment includes certain non-recurring revenue from services ancillary to our SaaS products, such as engineering, customization, configuration and go-live fees, and data services for digitizing offline data.

About Freightos

Freightos® (Nasdaq: CRGO) is the leading vendor-neutral global freight booking platform. Airlines, ocean carriers, thousands of freight forwarders, and well over ten thousand importers and exporters connect on Freightos, making world trade efficient,  agile, and resilient.

The Freightos platform digitizes the trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments for businesses of all shapes and sizes around the globe. Products include Freightos Enterprise for multinational importers and exporters, Freightos Marketplace for small importers and exporters, WebCargo and 7LFreight by WebCargo for freight forwarders, WebCargo for Airlines, and Clearit, a digital customs broker.

Freightos is a leading provider of real-time industry data via Freightos Terminal, which includes the world's leading spot pricing indexes, Freightos Air Index (FAX) for air cargo and Freightos Baltic Index (FBX) for container shipping. Futures of FBX are traded on CME and SGX.

More information is available at freightos.com/investors.

Contacts

Media:

Tali Aronsky
press@freightos.com

Investors:

Anat Earon-Heilborn
ir@freightos.com

 

CONSOLIDATED BALANCE SHEETS

(in thousands)


September 30, 2025

December 31, 2024


(unaudited)


Assets



Current Assets:



Cash and cash equivalents

$ 16,290

$ 10,118

User funds

3,072

4,494

Trade receivables, net

4,261

3,057

Short-term bank deposit

14,357

27,153

Other receivables and prepaid expenses

2,079

1,281


40,059

46,103




Non-current Assets:



Property and equipment, net

296

420

Right-of-use assets, net

1,793

1,191

Intangible assets, net

7,411

8,852

Goodwill

15,350

15,040

Deferred taxes

477

536

Other long-term assets

1,732

1,637


27,059

27,676




Total assets

$ 67,118

$ 73,779




Liabilities and Equity



Current liabilities:



Current maturity of lease liabilities

667

615

Trade payables

5,313

2,731

User accounts

3,072

4,494

Warrants liabilities

3,712

2,450

Accrued expenses and other short-term liabilities

7,111

7,023


19,875

17,313




Long Term Liabilities:



Lease liabilities

1,101

339

Employee benefit liabilities, net

1,427

1,239


2,528

1,578




Equity:



Share capital

1

*)

Share premium

264,704

261,769

Foreign currency translation reserve

323

(307)

Reserve from remeasurement of defined benefit plans

96

96

Accumulated deficit

(220,409)

(206,670)

Total equity

44,715

54,888




Total liabilities and equity

$ 67,118

$ 73,779

*) Represents an amount lower than $1.



 

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)


Three Months Ended

Nine Months Ended


September 30,

September 30,


2025

2024

2025

2024


(unaudited)

(unaudited)

Revenue

$ 7,672

$ 6,185

$ 22,055

$ 17,198

Cost of revenue

2,368

2,162

7,119

6,151

Gross profit

5,304

4,023

14,936

11,047

Operating expenses:





Research and development

2,842

2,557

8,756

7,458

Selling and marketing

3,720

3,363

11,256

10,192

General and administrative

3,080

2,965

8,457

8,307

Total operating expenses

9,642

8,885

28,469

25,957

Operating loss

(4,338)

(4,862)

(13,533)

(14,910)

Change in fair value of warrants

(754)

1,485

(1,262)

445

Finance income

233

654

1,386

1,929

Finance expenses

(73)

(18)

(207)

(155)

Financing income, net

160

636

1,179

1,774

Loss before taxes on income

(4,932)

(2,741)

(13,616)

(12,691)

Income taxes (tax benefit), net

30

(17)

123

(37)

Loss

(4,962)

(2,724)

(13,739)

(12,654)

Other comprehensive income (net of tax effect):





Amounts that will be or that have been reclassified
to profit or loss when specific conditions are met:





Adjustments arising from translating financial
statements of foreign operations

7

89

630

89

Total comprehensive loss

$  (4,955)

$  (2,635)

$  (13,109)

$  (12,565)

Basic and diluted loss per Ordinary share

$  (0.10)

$  (0.06)

$  (0.27)

$  (0.26)

Weighted average number of shares outstanding
used to compute basic and diluted loss per share

50,892,241

48,846,805

50,356,060

48,321,451

 

 

CONSOLIDATED STATEMENTS OF CASH FLOWS



(in thousands)




Three Months Ended

Nine Months Ended


September 30,

September 30,


2025

2024

2025

2024


(unaudited)

(unaudited)

Cash flows from operating activities:





Loss

$ (4,962)

$ (2,724)

$ (13,739)

$ (12,654)

Adjustments to reconcile net loss to net cash used in
operating activities:





Adjustments to profit or loss items:





Depreciation and amortization

862

803

2,606

2,213

Operating expense settled by issuance of shares

-

-

-

351

Change in fair value of warrants

754

(1,485)

1,262

(445)

Changes in the fair value of contingent consideration

-

-

-

(6)

Share-based compensation

845

982

2,353

2,576

Finance income, net

(160)

(636)

(1,179)

(1,768)

Income taxes (tax benefit), net

30

(17)

123

(37)


2,331

(353)

5,165

2,884

Changes in asset and liability items:





Decrease (increase) in user funds

225

(596)

1,486

(894)

Increase (decrease) in user accounts

(225)

596

(1,486)

894

Decrease (increase) in other receivables and prepaid expenses

152

424

(343)

(354)

Increase in trade receivables

(241)

(241)

(1,019)

(736)

Decrease in other long-term assets

73

-

-

-

Increase (decrease) in trade payables

(319)

(63)

2,543

418

Increase (decrease) in accrued severance pay, net

58

(103)

126

11

Increase (decrease) in accrued expenses and other
short-term liabilities

(540)

(173)

(388)

523


(817)

(156)

919

(138)

Cash received (paid) during the period for:





Interest received, net

86

187

1,730

2,543

Taxes received (paid), net

(23)

(20)

8

(206)


63

167

1,738

2,337

Net cash used in operating activities

(3,385)

(3,066)

(5,917)

(7,571)

Cash flows from investing activities:





Purchase of property and equipment

(43)

(15)

(117)

(32)

Proceeds from sale of property and equipment

1

-

26

2

Acquisition of a subsidiary, net of cash acquired (a)

-

(3,350)

-

(3,350)

Investment in long-term deposits

(180)

(3)

(303)

(23)

Withdrawal of long-term deposits

-

6

116

29

Withdrawal of (investment in) short-term bank deposit, net

-

-

12,000

(6,000)

Withdrawal of short term investments, net

-

-

-

11,520

Net cash provided by (used in) investing activities

(222)

(3,362)

11,722

2,146

Cash flows from financing activities:





Repayment of lease liabilities

(227)

(116)

(527)

(421)

Exercise of options

94

106

583

303

Net cash provided by (used in) financing activities

(133)

(10)

56

(118)

Exchange differences on balances of cash and cash
equivalents

50

(13)

286

(72)

Gains (losses) from translation of cash and cash
equivalents of foreign activity

(1)

-

25

-

Increase (decrease) in cash and cash equivalents

(3,691)

(6,451)

6,172

(5,615)

Cash and cash equivalents at the beginning of the period

19,981

21,001

10,118

20,165

Cash and cash equivalents at the end of the period

$16,290

$14,550

$ 16,290

$ 14,550

(a) Acquisition of an initially consolidated subsidiary:





Working capital (excluding cash and cash equivalents)

-

$ (1,271)

-

$ (1,271)

Property and equipment

-

51

-

51

Right-of-use assets

-

350

-

350

Intangible assets

-

3,538

-

3,538

Goodwill

-

2,546

-

2,546

Shares issued

-

(885)

-

(885)

Payable for acquisition of subsidiary

-

(629)

-

(629)

Lease liabilities

-

(350)

-

(350)

Acquisition of a subsidiary, net of cash acquired

$ -

$ 3,350

$ -

$ 3,350

(b) Significant non-cash transactions:





Right-of-use asset recognized with corresponding
lease liability

$ -

$ -

$ 1,172

$ -

 

 

RECONCILIATION OF IFRS TO NON-IFRS GROSS PROFIT AND GROSS MARGIN

(in thousands, except gross margin data)


Three Months Ended

Nine Months Ended


September 30,

September 30,


2025

2024

2025

2024


(unaudited)

(unaudited)

IFRS gross profit

$ 5,304

$ 4,023

$ 14,936

$ 11,047

Add:





Share-based compensation

47

123

227

313

Depreciation and amortization

390

349

1,165

972

Non-IFRS gross profit

$ 5,741

$ 4,495

$ 16,328

$ 12,332

IFRS gross margin

69.1 %

65.0 %

67.7 %

64.2 %

Non-IFRS gross margin

74.8 %

72.7 %

74.0 %

71.7 %

 

 

RECONCILIATION OF IFRS LOSS TO ADJUSTED EBITDA

(in thousands , except adjusted EBITDA margin data)





Three Months Ended

Nine Months Ended


September 30,

September 30,


2025

2024

2025

2024


(unaudited)

(unaudited)

IFRS loss

$ (4,962)

$ (2,724)

$ (13,739)

$ (12,654)

Add:





Change in fair value of warrants

754

(1,485)

1,262

(445)

Financing income, net

(160)

(636)

(1,179)

(1,774)

Tax benefit (income taxes), net

30

(17)

123

(37)

Share-based compensation

845

982

2,353

2,576

Depreciation and amortization

862

803

2,606

2,213

Acquisition-related costs

-

283

-

283

Operating expense settled by issuance of shares

-

-

-

351

Adjusted EBITDA

$ (2,631)

$ (2,794)

$ (8,574)

$ (9,487)

Adjusted EBITDA margins

-34 %

-45 %

-39 %

-55 %

Loss margin (under IFRS)

-65 %

-44 %

-62 %

-74 %

 

RECONCILIATION OF IFRS LOSS TO NON-IFRS LOSS AND LOSS PER SHARE

(in thousands, except share and per share data)


Three Months Ended

Nine Months Ended


September 30,

September 30,


2025

2024

2025

2024


(unaudited)

(unaudited)

IFRS loss

$ (4,962)

$ (2,724)

$ (13,739)

$ (12,654)

Add:





Share-based compensation

845

982

2,353

2,576

Depreciation and amortization

862

803

2,606

2,213

Operating expense settled by issuance of shares

-

-

-

351

Acquisition-related costs

-

283

-

283

Changes in the fair value of contingent consideration

-

-

-

(6)

Change in fair value of warrants

754

(1,485)

1,262

(445)

Non IFRS loss

$ (2,501)

$ (2,141)

$ (7,518)

$ (7,682)

Non IFRS basic and diluted loss per Ordinary share

$ (0.05)

$ (0.04)

$ (0.15)

$ (0.16)

Weighted average number of shares
outstanding used to compute basic and
diluted loss per share

50,892,241

48,846,805

50,356,060

48,321,451

 

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SOURCE Freightos

FAQ

What were Freightos (CRGO) Q3 2025 revenue and growth rates?

Freightos reported $7.7M revenue in Q3 2025, a 24% increase year‑over‑year.

How many transactions did Freightos (CRGO) report in Q3 2025 and the growth?

Freightos reported 429,000 transactions in Q3 2025, up 27% year‑over‑year.

What gross margins did Freightos (CRGO) report for Q3 2025?

IFRS gross margin was 69.1% and non‑IFRS gross margin was 74.8% in Q3 2025.

Why did Freightos (CRGO) record a larger IFRS loss in Q3 2025?

The increased IFRS loss to $5.0M was driven primarily by a rise in the market price and fair value of the company's warrants.

What guidance did Freightos (CRGO) give for FY 2025 revenue and GBV?

Management guided FY 2025 revenue of $29.5–29.6M and FY GBV of $1,268–1,272M.

What was Freightos (CRGO) cash position at quarter end Sep 30, 2025?

Cash and cash equivalents and short‑term bank deposit totaled $30.6M at Sept 30, 2025.
Freightos Ltd

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