BARCELONA, Spain, Aug. 22, 2024 /PRNewswire/ -- Freightos (NASDAQ: CRGO) today announced the addition of Pacific Air Cargo to its leading WebCargo digital air cargo booking and payment platform. This collaboration expands WebCargo's offered capacity to include key routes from Los Angeles to Hawaii and the Pacific Islands, complementing recent advancements in its domestic US air cargo capacity. Pacific Air Cargo, renowned for its network and reliable service, operates over 600 annual flights and transports m ...

| --- | --- | --- | --- | |-------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Q2 2024 Earnings Call Nasdaq: CRGO | | | | | | | | | | August 19, 2024 08:30 | | | | 00:50 Disclaimer About this Presentation This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security. Please see our SEC filings for the most up to date information. The information contained herein does not p ...

Financial Data and Key Metrics Changes - In Q2 2024, the company reported revenue of $5.7 million, an 11% increase compared to Q2 2023 [29] - Gross booking value (GBV) reached $203.4 million, a 31% increase year-over-year [5] - Non-IFRS gross margins improved to 72%, up from 65% in the same period last year [31] - Adjusted EBITDA loss was $3.1 million, significantly better than the $5.3 million loss in Q2 2023 [32] Business Line Data and Key Metrics Changes - The company facilitated 316.5 thousand transactions in Q2, a 32% increase year-over-year [5] - Unique buyer users increased by 16%, reaching approximately 19,000 [7] - The Platform & Solutions segment grew 11% year-on-year, reflecting strong user engagement [29] Market Data and Key Metrics Changes - Global ocean freight container volumes increased by 6.5% compared to Q1 and were 5.7% higher than Q2 last year [24] - Global air cargo volumes grew by 15% compared to Q2 last year, with a 6% increase from Q1 [25] - Ocean container shipping rates were 65% higher than the end of Q1 and over 250% higher than the previous year [26] Company Strategy and Development Direction - The acquisition of Shipsta is aimed at enhancing the company's offerings in tender management and long-term freight procurement [13][22] - The company is focused on digitizing both spot and contract procurement processes to create a comprehensive digital freight booking platform [14][22] - Expansion efforts include new services such as handling dangerous goods and temperature-controlled shipments [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow despite market challenges, citing the ongoing digital transformation in the freight industry [28] - The company anticipates transaction growth of 20% to 24% year-on-year in Q3, with full-year expectations of 25% to 27% growth [34] - Management noted caution regarding transaction growth in the second half of the year due to market uncertainties and delays in airline rollouts [34] Other Important Information - The company had $47.3 million in cash and short-term deposits at the end of June, providing sufficient funds for operations [33] - The integration of Shipsta is expected to enhance revenue and operational synergies, with an anticipated contribution of approximately $800,000 in revenues for Q4 [34] Q&A Session Summary Question: Can you talk about the revenue and cost synergy opportunities between Freightos and Shipsta? - Management highlighted expectations of $800,000 in revenue from Shipsta for the remainder of the year and emphasized the complementary nature of both companies' products [35][36] Question: Can you provide an update on recent trends in U.S. trucking and ocean initiatives? - Management noted green shoots in U.S. trucking, particularly in LTL, and emphasized the strategic connection between trucking and air cargo operations [38][39][42] Question: How did the company achieve significant leverage in gross profit this quarter? - Management attributed the increase in gross profit to economies of scale and continued investment in automation and software development [43][45]

Freightos Limited (CRGO) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -10%. A quarter ago, it was expected that this company would post a loss of $0.11 per share when it actually produced a loss of $0.06, delivering a surprise of 45.45%. Over the last four quarters, the company has surpas ...

New records for transactions, GBV, revenue and Adjusted EBITDA, all exceeding management expectations Acquisition of Shipsta expands company's platform for importers/exporters while accelerating revenue growth and supporting reaching breakeven with cash on hand BARCELONA, Spain, Aug. 19, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral digital booking and payment platform for the international freight industry, today reported financial results for the quarter ended June 30, 20 ...

BARCELONA, Spain, July 15, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading, vendor-neutral booking and payment platform for the international freight industry, today reported preliminary second quarter 2024 Key Performance Indicators. In Q2 2024, Freightos continued to progress toward its long-term growth objectives. The company facilitated 316.5 thousand transactions, representing a year-over-year growth of 32%, surpassing management expectations for the quarter and exceeding the long term ...

BARCELONA, Spain, June 27, 2024 /PRNewswire/ -- WebCargo by Freightos (NASDAQ: CRGO), the leading digital booking and payment platform for the international freight industry, is excited to announce its new partnership with Coyne Airways. This collaboration expands WebCargo's reach in Africa, the Gulf, and the Caspian regions, providing forwarders and airline partners with seamless access to real-time rates, booking, interline and payment solutions. platform for international freight. In an industry which ti ...

BARCELONA, Spain, June 6, 2024 /PRNewswire/ -- WebCargo by Freightos (NASDAQ: CRGO), a leading independent booking and payment platform for the international freight industry, is excited to announce a new partnership with Thai Airways, a key Asian carrier and the national carrier of Thailand. In the coming months, Thai Airways will integrate its cargo capacities into WebCargo's platform, offering real-time booking, pricing, and payment processes. Soon, forwarders will be able to book and pay for air cargo d ...

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $5.4 million, an 11% increase compared to Q1 of 2023, marking the highest growth rate in five quarters as a public company [37] - IFRS gross margin improved to 62.6%, up from 58.3% in Q1 of 2023, while non-IFRS gross margin reached 70.3%, up from 65% in Q1 of 2023 [4] - Adjusted EBITDA for Q1 2024 was negative $3.6 million, an improvement from negative $5.8 million in Q1 last year, attributed to cost restructuring and increased revenues [39] Business Line Data and Key Metrics Changes - Total platform revenues in Q1 were $1.9 million, up 12% compared to Q1 of 2023, primarily driven by air cargo digital bookings [38] - Solution revenue was $3.5 million, reflecting a 10% increase from Q1 of last year, with balanced growth across software and data subscriptions [38] Market Data and Key Metrics Changes - The gross booking value (GBV) for Q1 was over $192 million, growing 14% year-over-year, exceeding expectations [55] - Global air cargo volumes increased by 13% compared to Q1 last year, while total ocean volumes were up 9% [30][29] Company Strategy and Development Direction - The company aims to digitalize the offline freight market, which is still 98% offline, presenting a significant growth opportunity [11] - The strategic partnership with United Airlines to build a dedicated air cargo web portal is expected to enhance service offerings and increase transaction volumes [61][75] - The company is investing in research and development to innovate and enhance its platform offerings, targeting a potential $10 billion in high-margin recurring transactional revenue [76] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential despite macroeconomic uncertainties, emphasizing the importance of capturing offline freight [11] - The company expects Q2 revenue to reach between $5.5 million and $5.6 million, driven by transaction growth and monetization of the platform [43] - Management highlighted the ongoing investment in growth while balancing the path to profitability with existing cash reserves [24] Other Important Information - The company facilitated nearly 296,000 transactions in Q1, a 29% increase year-over-year, indicating strong platform engagement [48] - The carrier base expanded to 49 sellers, with significant partnerships established with major airlines [50] Q&A Session Summary Question: Can you walk through the cohort analysis and pricing from platform participants? - Management indicated that as transaction volumes grow, the platform becomes a more valuable sales channel for sellers, aiding in negotiations for higher fees [16] Question: How unique is the United deal in terms of the portal being created? - Management clarified that the United deal is unique as they are building a dedicated portal for United, unlike other airlines where they merely connect to existing platforms [18] Question: Can you discuss the impact of the Red Sea issue on air cargo rates? - Management noted that while demand for air cargo out of India and Asia has increased, it has not significantly benefited the company due to capacity monopolization by larger companies [20] Question: What is the pathway to sustainable 20% revenue growth? - Management emphasized a balance between growth and reaching breakeven, with ongoing investments in R&D and marketing to support growth while managing costs [24]

Freightos Limited (CRGO) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Freightos Limited shares have lost about 30% since the beginning of the year ...