Freightos Ltd Stock Price, News & Analysis

Freightos (NASDAQ: CRGO) reported strong preliminary Q4 2024 results, marking its 20th consecutive quarter of record transactions. The company facilitated 350,400 transactions in Q4, a 22% year-over-year growth, exceeding management's expectations. The total Gross Booking Value (GBV) reached $280.5 million, showing a 50% year-over-year increase.

The company significantly expanded its carrier network to 67 carriers, up from 45 in Q4 2023, marking the strongest carrier growth in a single quarter. Unique buyer users grew 14% to approximately 20,100. For the full year 2024, Freightos recorded 1,301,500 transactions (27% YoY growth) and $894 million in GBV (33% YoY growth). The company plans to announce Q4 and FY 2024 financial results on February 24, 2025.

Swiss WorldCargo, SWISS's air freight division, has partnered with Freightos (NASDAQ: CRGO) to enhance digital booking capabilities. The collaboration enables booking of Swiss WorldCargo's products and services through WebCargo by Freightos in selected markets across Europe, Asia, and Americas.

Swiss WorldCargo operates across over 170 global destinations, specializing in high-value, care-intensive, and temperature-sensitive shipments. Through WebCargo's platform, which connects with more than 55 airlines and 370 air cargo carriers, forwarders can access real-time rates and capacity for services including SWISS General Cargo and SWISS Pharma and Healthcare, along with Celsius Passive temperature-sensitive shipping and X-Presso expedited transportation options.

Freightos (NASDAQ: CRGO) reported strong Q3 2024 results with revenue reaching $6.2 million, up 21% year-over-year. The company achieved record transactions of 339,100, a 26% increase, and Gross Booking Value of $217.5 million, up 35%. IFRS Gross Margin improved to 65.0% from 54.9%, while operating loss decreased to $4.9 million from $9.3 million. The company successfully integrated Shipsta, expanded carrier network to 55, and grew unique buyer users by 14% to 19,700. Management raised full-year guidance, expecting revenue at the higher end of previous range and improved Adjusted EBITDA, targeting positive figures by end of 2026.

Freightos (NASDAQ: CRGO) announced that CFO Ran Shalev will step down effective December 31, 2024, to pursue another role. Shalev, who served as CFO since 2016, will assist with operations and handover throughout Q1. During his tenure, he oversaw the company's financial operations, including its Nasdaq listing, strategic acquisitions, and growth in revenue and transaction volumes. The company is currently searching for a successor, with Shalev confirming he will remain a shareholder and support a smooth transition.

Freightos (NASDAQ: CRGO) has officially launched its integration with e2open, embedding WebCargo air cargo eBooking into e2open's Transportation Management System (TMS). The integration enables freight forwarders to access real-time air freight rates and make instant bookings directly within the TMS platform, eliminating manual processes and context switching. Crane Worldwide Logistics is among the global logistics providers testing the system, which aims to streamline operations and improve response time to client needs through automated, real-time access to rates and bookings.

Freightos (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for international freight, has announced its participation in the upcoming Sidoti November Virtual Investor Conference. Zvi Schreiber, Founder and CEO, along with CFO Ran Shalev, will present on November 13th at 9:15AM ET and host one-on-one meetings with investors during the conference on November 13-14, 2024. The presentation will be accessible via a live webinar link, and registration for both the presentation and one-on-one meetings is free and open to all investors and financial professionals through the Sidoti website.

Freightos (NASDAQ: CRGO) announces that Qantas Freight has joined its air cargo booking platform. The integration enables freight forwarders to search, compare and book capacity across Freightos' WebCargo and 7LFreight platforms for Qantas and Jetstar services between the US, Australia, and New Zealand. The network connects major US hubs (LAX, SFO, DFW, JFK) with Australian cities (Sydney, Melbourne, Brisbane). Forwarders can access instant rate quotes and bookings for ground and air providers, including LTL shipments, domestic US air cargo, and international air cargo on a single platform. WebCargo by Freightos now hosts 55 carriers, representing nearly 70% of global air cargo capacity.

Freightos (NASDAQ: CRGO) reported preliminary Q3 2024 results, showcasing strong growth in platform usage and network expansion. Key highlights include:

- 339.1K transactions, up 26% year-over-year, surpassing guidance of 323.5 - 332.5K

- Gross Booking Value (GBV) of $217.5M, a 35% year-over-year increase, exceeding expectations of $198.0 - 203.5M

- Expanded carrier network to 55 carriers, up from 39 in Q3 2023

- 14% year-on-year growth in unique buyer users, reaching approximately 19,700

Freightos CEO Zvi Schreiber emphasized the platform's critical role in the freight industry's digital transformation. The company will report full Q3 2024 financial results on November 25, 2024, before markets open, followed by a webcast and conference call at 8:30 a.m. EST.

Freightos (NASDAQ: CRGO), a leading digital booking and payment platform for international freight, announced its participation in the 17th annual LD Micro Main Event. CEO Dr. Zvi Schreiber will present on Tuesday, October 29th at 01:30 PM PT at the Luxe Sunset Boulevard Hotel in Los Angeles.

Schreiber highlighted Freightos' role in transforming global freight, noting over 1 million transactions on their platform in the last twelve months. The company aims to showcase its scalability and position as a critical player in the logistics ecosystem.

The LD Micro Main Event XVII, running from October 28th to 30th, will feature around 150 companies presenting to investors. Freightos' participation underscores its focus on extending its offering's reach and expanding monetization potential as digital adoption in the freight industry accelerates.