Welcome to our dedicated page for Freight Tech news (Ticker: FRGT), a resource for investors and traders seeking the latest updates and insights on Freight Tech stock.
Freight Technologies, Inc. provides AI-enabled logistics technology for shippers, carriers, freight agencies, brokers, and cross-border trade operators. Company news centers on its software portfolio, including Fr8App, Fleet Rocket, Zayren and Zayren Pro, Fr8Radar, and DODA Smart, with recurring updates on transportation management, carrier matching, predictive freight pricing, real-time geolocation, and customs document compliance across the U.S.–Mexico freight corridor.
Additional developments cover the company's agentic AI framework, product licensing agreements, SaaS commercialization, and corporate actions. News also includes completed acquisition-related financial information for JAK Solar and updates on capital structure and strategic priorities as Freight Technologies emphasizes software-driven logistics operations.
Freight Technologies, Inc. (Nasdaq: FRGT), known as Fr8Tech, announced its first analyst coverage since going public with a 'buy' recommendation from Chardan. CFO Paul Freudenthaler expressed optimism about the company's potential, highlighting the challenges ahead but emphasizing increasing revenues and a strong application adoption. CEO Javier Selgas noted the vast market potential and inefficiencies in logistics that Fr8Tech aims to disrupt. The company utilizes AI and machine learning to optimize supply chain solutions, enhancing transparency and cost-efficiency for customers.
Freight Technologies (Nasdaq: FRGT) announced it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement as its shares traded below $1.00 for 30 consecutive days. The company has until April 24, 2023, to regain compliance, which may include options like a reverse stock split. If the stock price reaches $1.00 for ten consecutive days during the compliance period, it will resolve the issue. Failure to comply could lead to delisting unless the company meets other requirements.
Freight Technologies, Inc. (Nasdaq: FRGT) has secured a two-year contract with Kimberly Clark de Mexico to expand its Fr8Private Fleet product. This commitment is expected to triple the company's capacity in this service within three months. Fr8Private Fleet, which operates on the company's B2B platform, enables predetermined load capacity agreements. COO Luisa Lopez emphasized the significance of this long-term commitment for steady business, while Javier Selgas noted ongoing investments to enhance their domestic offerings in the U.S. and Mexico.
Fr8Tech, operating under the brand Fr8App, has announced an expanded partnership with a Fortune 500 glass container manufacturer, enhancing logistics services across the US/Canada border. This development builds on their existing collaboration since 2021 focused on US/Mexico logistics. The CEO emphasized that recurring business validates the platform's efficacy, aiming to deepen customer relationships and drive future growth. With a focus on AI-driven solutions, Fr8App enhances operational efficiency, transparency, and revenue potential.
Freight Technologies, Inc. (Nasdaq: FRGT) presented key updates during the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022, in New York City. The presentation was led by CFO Paul Freudenthaler and President Mike Flinker. Freight Technologies focuses on optimizing supply chain processes through technology, including a B2B cross-border shipping platform in the USMC region. Attendees can view the presentation by requesting access through the conference.
Freight Technologies, Inc. (FRGT) has expanded its logistics partnership with Kimberly Clark de Mexico (KCM) to facilitate cross-border shipping from Mexico to the U.S. This follows the successful implementation of the Fr8Fleet and domestic spot services. KCM's management expressed satisfaction with Fr8Tech's offerings, confirming the platform's capability to meet their logistics needs. This development signifies Fr8Tech's increasing business potential and validates its Fr8App platform in the competitive logistics market.
Fr8Tech Reports Record Revenue Growth
Freight Technologies (Nasdaq: FRGT) announced a record revenue of $8.5 million for Q2 2022, reflecting a 60% sequential increase and a 45% year-over-year growth. The first half of 2022 revenue reached $13.8 million, up 30% from $10.7 million in H1 2021. Full-year revenue guidance was adjusted to $32-$36 million, down from $40 million. CEO Javier Selgas noted improvement in distribution capacity and fuel price stabilization, anticipating further sequential revenue growth throughout the year.
Freight Technologies, Inc. (FRGT) filed a Form F-1 with the SEC on August 15, 2022, aiming to enhance its growth prospects in the U.S. and Mexican markets. CEO Javier Selgas highlighted that their Fr8App platform is gaining traction, with ongoing investments in product development to strengthen their cross-border shipping services. The registration positions the company to leverage capital markets for further expansion. Fr8Tech is focused on optimizing supply chain processes and aims to capture greater market share, benefiting shareholders.
Freight Technologies, Inc. (Nasdaq: FRGT) has been awarded the Samsung Mexico SDS business to enhance cross-border shipping from Mexico to the U.S. using its Fr8App platform. Samsung's representative highlighted the app's reliability and paper-free tracking capabilities, which align with their sustainability goals. CEO Javier Selgas stated this partnership validates the Fr8App platform, indicating potential growth opportunities. This collaboration comes amidst a challenging logistics market, as Fr8App facilitates over 100 trucks per week for Samsung's shipments.
Freight Technologies, Inc. (Nasdaq: FRGT) has upgraded its electronic data interchange (EDI) system to enhance location sharing and shipment status updates, aimed at improving efficiency for large shippers. This enhancement allows real-time tracking and faster notifications, reducing operational costs. CEO Javier Selgas highlighted that these features were positively received by key clients. The company continues to focus on technology innovation within the supply chain and cross-border shipping sectors.