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 Ltd (CRGO) operates a leading digital freight marketplace transforming global logistics through real-time booking and vendor-neutral pricing solutions. This page aggregates official company announcements and market-moving developments for stakeholders tracking innovation in freight technology.
Access curated CRGO news including quarterly earnings reports, strategic partnerships, platform enhancements, and industry recognition. Investors gain insights into operational milestones impacting the $9 trillion global freight sector, from SaaS product launches to carrier network expansions.
Content spans financial disclosures, technology innovations like AI-driven rate management tools, and strategic collaborations with logistics providers. Regular updates reflect CRGO's role in digitizing complex supply chains across 180+ countries.
Bookmark this page for streamlined monitoring of CRGO's market position and logistics industry leadership. Combine real-time updates with historical context to assess the company's growth trajectory in freight digitalization.
Freightos Limited (Nasdaq: CRGO), a prominent vendor-neutral booking platform for the freight industry, reported record Q1 2023 performance metrics. The platform registered 229,211 transactions, surpassing expectations and achieving a year-over-year growth of 100%. Gross Booking Value (GBV) reached $168.7 million, exceeding management's projected range of $162-$165.3 million with a 34% year-over-year growth. Unique buyer users surged by 29% to 16,226, while the number of carriers rose by 19% to 37. This impressive growth was recorded despite seasonal industry weaknesses and overall market softness. Freightos plans to disclose full financial results and Q2 guidance at the end of May 2023.
Freightos’ WebCargo platform has partnered with three leading Chinese master loaders—Sinoair, CIMC Anda Shun, and Sinotech—to enhance air cargo export capabilities. This partnership allows forwarders in Europe and North America to access real-time pricing, booking, and payment options, eliminating the need for IATA cargo agent requirements. With China accounting for a significant portion of global air cargo, representing 7.3 million metric tons out of 65.7 million, this move aims to streamline operations and reduce costs. The collaboration is expected to boost global trade efficiency and foster direct relationships between forwarders and Chinese logistics providers.
Freightos Limited (NASDAQ: CRGO) reported a significant revenue increase of 72% for FY 2022, reaching $19.1 million, with Q4 revenue up 54% year-over-year. The company achieved a record 668,185 transactions and a Gross Booking Value (GBV) of $611 million, growing 102%. Despite an IFRS operating loss of $24.3 million, the gross margin improved, indicating strong buyer retention and successful strategic acquisitions. The company raised $82 million, exceeding cash flow expectations. For FY 2023, management forecasts revenue growth between 15% and 21%, highlighting a positive outlook despite market challenges.
Freightos (Nasdaq: CRGO), a key player in the international freight industry, is set to release its financial results for the fiscal year 2022 on March 13, 2023. Management will hold a webcast and conference call at 8:30am ET to discuss these results, followed by the filing of the annual report on form 20-F by March 31, 2023. The company operates a vendor-neutral platform enhancing shipping efficiency, connecting thousands of importers and exporters with logistics providers globally.
For more information, visit freightos.com/investors.
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