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 ...

Group 1 - WebCargo by Freightos has announced a partnership with Thai Airways to integrate its cargo capacities into WebCargo's platform, enabling real-time booking, pricing, and payment processes for freight forwarders [1][2] - The initial phase of the collaboration will focus on freight forwarders in Australia, Japan, Thailand, and the United Kingdom, allowing them to book and pay for cargo services on Thai Airways through WebCargo [2] - The partnership aims to expand digital access to Thai Airways' air cargo network, providing freight forwarders with flexible credit and payment options, and facilitating quick bookings [3] Group 2 - Thai Airways is recognized for its extensive route network and commitment to customer service, and views the collaboration with WebCargo as a significant step in its digital transformation journey [3] - WebCargo by Freightos has established itself as a leading digital booking platform for international freight, with over ten thousand freight forwarder offices using its services, representing about two-thirds of global air cargo capacity [4]

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 ...

Exhibit 99.1 Freightos Reports First Quarter 2024 Results with Double-digit Revenue Growth May 20, 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 March 31, 2024. "We are pleased with the strong first quarter of the year, which highlights the robustness and growing acceptance of our platform, and the strides we are making in digitalizing interna ...

JERUSALEM, May 20, 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 March 31, 2024. "We are pleased with the strong first quarter of the year, which highlights the robustness and growing acceptance of our platform, and the strides we are making in digitalizing international freight, bringing efficiency and transparency to this crucial sector," sai ...

Core Insights - Freightos and United Cargo are expanding their collaboration to enhance digital booking options in the air cargo industry, which remains largely offline [1][2][3] - United Cargo has joined WebCargo's digital cargo booking platform, providing customers with an additional online booking option alongside its existing website capabilities [2][3] - The partnership aims to improve customer experience by offering enhanced booking functionalities and access to United Cargo services 24/7 through the WebCargo platform [4][3] Company Overview - United Cargo is a leading U.S.-based air cargo belly-carrier, carrying billions of cargo ton-miles annually and reaching hundreds of global destinations [5] - Freightos operates WebCargo, the largest global air cargo booking platform, connecting airlines and freight forwarders, with over 10,000 freight forwarder offices utilizing the platform [6] - WebCargo facilitates thousands of eBookings daily and represents about two-thirds of global air cargo capacity, enhancing efficiency and transparency in freight services [6]