Welcome to our dedicated page for Freightos news (Ticker: CRGO), a resource for investors and traders seeking the latest updates and insights on Freightos stock.
Freightos Limited (NASDAQ: CRGO) generates frequent news as a vendor-neutral global freight booking and payment platform serving the international freight industry. This news page aggregates announcements, press releases, and market updates related to Freightos, providing context for investors and logistics professionals who follow the company’s progress in digitizing freight.
Readers can expect coverage of quarterly and annual results, where Freightos reports revenue trends, transaction volumes, gross booking value (GBV), and other key performance indicators such as the number of carriers and unique buyer users on its platform. The company often highlights consecutive quarters of record transactions and updates on its multimodal strategy across air and ocean freight.
News items also include product and platform developments, such as the launch of WebCargo Rate & Quote Ocean, which extends digital pricing, quoting, and booking from air into ocean freight, and enhancements to WebCargo and 7LFreight for freight forwarders. Partnership announcements with airlines, regional carriers, and general sales agents illustrate how the network of carriers and routes available through WebCargo by Freightos continues to evolve.
Corporate governance and leadership updates are another recurring theme, including board appointments, executive hires such as the Chief Revenue Officer, and CEO succession developments. These items provide insight into how Freightos is shaping its leadership to support its platform and solutions strategy.
By monitoring this page, users can follow how Freightos expands its carrier network, deepens relationships with freight forwarders and shippers, and advances its data offerings like Freightos Terminal, the Freightos Air Index (FAX), and the Freightos Baltic Index (FBX). Bookmark this feed to review historical announcements and stay aware of new disclosures as they are released.
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.
Freightos (NASDAQ: CRGO) has announced the addition of Hainan Airlines (HNA Cargo) to its WebCargo digital air cargo booking and payment platform. This collaboration expands capacity for forwarders in Asia Pacific and Europe. With HNA Cargo's inclusion, 3 out of China's 4 major air cargo carriers are now accessible on WebCargo, representing 65% of global capacity.
HNA Cargo operates over 600 aircraft across 11 airlines, covering more than 2,000 routes and serving over 300 cities worldwide. The integration will provide forwarders with access to HNA Cargo's extensive network, including direct routes into China and across the Asia Pacific region.
WebCargo's digital payment solution now supports transactions with HNA Cargo, allowing forwarders to book and pay for shipments through a single interface. HNA Cargo's capacity will initially launch in key North Asian and Southeast Asian markets, including Japan, Singapore, Vietnam, and Thailand.
Freightos (NASDAQ: CRGO) has announced the addition of Pacific Air Cargo to its WebCargo digital air cargo booking and payment platform. This collaboration expands WebCargo's capacity to include key routes from Los Angeles to Hawaii and the Pacific Islands, complementing recent advancements in domestic US air cargo capacity.
Pacific Air Cargo operates over 600 annual flights, transporting more than 100 million pounds of cargo annually. The airline offers shipping for diverse products and ad hoc charters for critical cargo. This integration will provide Pacific Air Cargo with greater exposure to a global network of forwarders, improved booking efficiency, and enhanced customer service capabilities. For WebCargo, it strengthens its position in the Hawaii and Pacific Islands markets, offering customers more options and better service reliability.
Freightos (NASDAQ: CRGO) reported record performance for Q2 2024, with significant growth across key metrics. The company achieved revenue of $5.7 million, up 11% year-over-year, and a gross margin of 64.9%. Transactions increased by 32% to 316,500, while Gross Booking Value (GBV) grew 31% to $203.4 million. Freightos also announced the acquisition of Shipsta, a freight tender procurement platform, expanding its capabilities and market position.
The company updated its 2024 guidance, projecting revenue between $23.4 - $23.7 million and transactions between 1,280,000 - 1,300,000. Freightos remains on track to achieve positive Adjusted EBITDA by the end of 2026, despite a small expected loss from the Shipsta acquisition.
Freightos (NASDAQ: CRGO) has acquired Shipsta, a leading freight-tender procurement platform, in a strategic move to expand its digital freight-booking capabilities. This acquisition combines Freightos' spot pricing and booking services with Shipsta's tender management platform, advancing Freightos' vision of comprehensive freight digitization and increasing its total addressable market.
The deal, valued at approximately €4.5m in cash and 640,000 Freightos shares, is expected to accelerate revenue growth and help Freightos reach breakeven with existing cash reserves. Shipsta is projected to contribute about $800,000 to Freightos' revenue in the last four months of 2024 and between $4-5 million in 2025. The acquisition aims to provide a unified digital booking platform connecting carriers, freight forwarders, and importers/exporters, addressing the growing need for supply chain efficiency and agility.