Freightos Reports Third Quarter 2025 Results
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 거래와 13억 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.
- 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
- 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
The operating picture is mixed. Adjusted EBITDA improved slightly to a negative
Watch near term: quarterly transaction and GBV trends, progress toward break‑even per Adjusted EBITDA guidance, and cash trend against the outlook through
-
Third quarter revenue up
24% year-over-year -
Reached annualized run rate of over 1.7 million transactions and
GBV$1.3B
"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
for the third quarter of 2025, an increase of$7.7 million 24% compared to in the third quarter of 2024.$6.2 million - IFRS Gross Margin of
69.1% , up from65.0% in the third quarter of 2024. Non-IFRS Gross Margin of74.8% , up from72.7% for the third quarter of 2024. - IFRS loss of
, compared to$5.0 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.$2.7 million - Adjusted EBITDA of negative
, compared to negative$2.6 million for the third quarter of 2024.$2.8 million - Cash and cash equivalents and short term bank deposit amounting to
as of the end of September 2025.$30.6 million
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
of revenue from the platform in Q3 2025, representing a$336 million 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
was up$7.7 million 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 , up$2.6 million 15% from the third quarter of 2024, and Solutions revenue was , up$5.1 million 30% year over year.
Financial Outlook
|
|
Management Expectations |
|
|
|
Q4 2025 |
FY 2025 |
|
|
|
|
|
Transactions (k) |
438 - 444 |
1,636 - 1,641 |
|
Year over Year Growth |
|
|
|
GBV ($m) |
340 - 344 |
1,268 - 1,272 |
|
Year over Year Growth |
|
|
|
Revenue ($m) |
7.4 - 7.5 |
29.5 - 29.6 |
|
Year over Year Growth |
|
|
|
Adjusted EBITDA ($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
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 |
|
|
|
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 |
|
|
|
|
|
|
|
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 |
|
|
|
*) Represents an amount lower than |
|
|
|
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 |
|
|
|
|
|
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 |
|
|
|
|
|
Adjustments arising from translating financial |
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 |
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 |
|
|
|
|
|
Adjustments to reconcile net loss to net cash used in |
|
|
|
|
|
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 |
(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 |
50 |
(13) |
286 |
(72) |
|
Gains (losses) from translation of cash and cash |
(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 |
|
|
|
|
|
(a) Acquisition of an initially consolidated subsidiary: |
|
|
|
|
|
Working capital (excluding cash and cash equivalents) |
- |
|
- |
|
|
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 |
$ - |
|
$ - |
|
|
(b) Significant non-cash transactions: |
|
|
|
|
|
Right-of-use asset recognized with corresponding |
$ - |
$ - |
|
$ - |
|
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 |
|
|
|
|
|
Add: |
|
|
|
|
|
Share-based compensation |
47 |
123 |
227 |
313 |
|
Depreciation and amortization |
390 |
349 |
1,165 |
972 |
|
Non-IFRS gross profit |
|
|
|
|
|
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 |
|
|
|
|
|
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 |
|
|
|
|
|
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 |
|
|
|
|
|
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 |
|
|
|
|
|
Non IFRS basic and diluted loss per Ordinary share |
|
|
|
|
|
Weighted average number of shares |
50,892,241 |
48,846,805 |
50,356,060 |
48,321,451 |
Logo - https://mma.prnewswire.com/media/2319256/5624936/Freightos_Logo.jpg
View original content to download multimedia:https://www.prnewswire.com/news-releases/freightos-reports-third-quarter-2025-results-302616988.html
SOURCE Freightos