Shares of Old Dominion Freight Line (ODFL -7.36%) were falling today in sympathy with a disappointing report from rival Saia, another top less-than-truckload (LTL) carrier.Combined with the report from ODFL the day before, Saia's update is clear evidence that the trade war and weakening economy is already having an effect on the trucking sector.As of 11:58 a.m. ET, Old Dominion stock was down 6.7%, while Saia stock had plunged 29.1%. Trucking demand is weakeningOld Dominion managed to pass muster with its o ...

HOUSTON, April 25, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, is pleased to announce its integration with supply chain management company Blue Yonder’s Transportation Management System (“TMS”) through Bayer Crop Science LP (“Bayer”). This follows Bayer’s selection of Fr8Tech as a key logistics provider in September 2024 for the 2025 season, where Fr8Tech was awarded six critical cross-border lanes for truckload s ...

Exhibit 99.1 Freight Technologies Announces Full Year 2024 Results and Outlook for 2025 Gross margin % improvement | Lower net loss | Improved cash flow from operations HOUSTON - April 14, 2025 — Freight Technologies, Inc. (Nasdaq: FRGT; "Fr8Tech" or the "Company"), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions, today announced its results for the full year ended December 31, 2024. "2024 was a transformative year for Fr8Tech, highlighted by improvemen ...

Core Insights - Freight Technologies, Inc. (Fr8Tech) reported a transformative year in 2024, with improvements in gross margins and operational cash flow, alongside the launch of innovative platforms like Waavely and Fleet Rocket [2][5]. Business Highlights - The company successfully onboarded new customers and expanded agreements with multinational enterprises in 2024, continuing this momentum into Q1 2025 [2]. - Fr8Tech launched Waavely, an ocean freight booking and management platform, in July 2024, and Fleet Rocket, a cost-effective Transportation Management System (TMS), in February 2025 [2][6]. - The company received positive customer feedback, achieving over 80% satisfaction in a survey [6]. Financial Highlights - Revenue for 2024 was $13.73 million, down from $17.06 million in 2023 [11]. - Gross margin increased to 9.8% in 2024 from 7.9% in 2023, reflecting operational efficiency improvements [6][11]. - Cash flow from operations improved by $1.6 million year-over-year, reaching -$4.2 million in 2024 [6][11]. - The net loss for 2024 was $5.6 million, an improvement of $3.7 million compared to a net loss of $9.3 million in 2023 [6][11]. 2025 Annual Outlook - The company anticipates continued financial improvement in 2025 as it enhances its logistics technology offerings and AI-powered solutions [5].

Financial Performance - As of December 31, 2024, the company reported a net loss of $(5,601,227) compared to $(9,327,606) in 2023, indicating a reduction in losses year-over-year[23] - The company had an accumulated deficit of $(44,916,779) and a cash balance of $204,032 as of December 31, 2024[23] - The company sold a total of 528,576 shares during the ATM offering, with compensation costs amounting to $297,809[24] Market Overview - The U.S. domestic truck freight transportation market was approximately $950 billion in 2023 and 2024, with expected low- to mid-single digit growth in 2025[28] - The Mexican domestic freight market is estimated to be approximately $46 billion in 2025, with the North American cross-border freight transportation market expected to exceed $308 billion by 2030[28] - The U.S. trucking industry faced a shortage of approximately 80,000 drivers at the end of 2024, with a projected need for 1.2 million additional drivers over the next decade[35] - The Mexican trucking industry is expected to grow at a CAGR of 5.2% through 2030, driven by a growing domestic economy and increasing trade flows[36] - The Mexican LTL market is expected to grow at an approximate 6% CAGR through 2029, outpacing GDP growth[114] Product and Service Development - The company launched Waavely, an ocean freight booking and management platform, in July 2024 to support logistics needs for containerized shipments[24] - Fr8App launched its first commercial version in 2017, focusing on freight brokerage support and enhanced features by Q2 2020[42] - In 2021, Fr8App introduced the broker portal and Fr8Fleet, enhancing its service offerings with automated onboarding and EDI integrations[44] - Fr8Now commenced operations in Q1 2023, targeting the LTL shipping market in Mexico with flexible options and affordable pricing[47] - Waavely, a freight matching platform for ocean container shipments, was launched in July 2024, expanding services for existing customers[48] - Fr8Tech plans to enhance its technology offerings, including the launch of an AI-powered Tendering Bot in March 2025 to automate load tendering processes[86] - Fr8Tech's Fleet Rocket software is sold under a SaaS model, integrating AI technology to optimize cross-border logistics and nearshoring operations[85] Technology and Innovation - Fr8App's Platform enables real-time tracking and automated matching of Shippers and Carriers, enhancing operational efficiency[50] - Fr8Data tools provide real-time dashboards and historical data analysis to improve decision-making for Shippers and Carriers[59] - Fr8App's API allows integration with customer systems, automating shipment booking and enhancing visibility[55] - The company has invested in developing new tools and functionalities, including 18 tracking integrations with GPS providers and real-time pricing tools[79] - The company utilizes automated monitoring tools and real-time data visualization to ensure system performance and security[99] - Fr8Tech's technology infrastructure is designed for scalability and efficiency, utilizing a micro-service architecture and CI/CD methodologies[90] Customer and Market Strategy - Kimberly Clark de Mexico (KCM) accounted for 48% of Fr8Tech's revenues for the year ended December 31, 2024, up from 33% in 2023[70] - As of December 31, 2024, KCM represented 88% of Fr8Tech's accounts receivables, compared to 66% in 2023[69] - Fr8Tech's growth strategy includes leveraging existing customer feedback to enhance user experiences and streamline operations[75] - The company is focused on balancing its business between primary and spot markets to capitalize on market volatility and demand fluctuations[80] - The company builds its Carrier network by demonstrating the value of its marketplace and providing timely payments upon shipment completion[101] Corporate Structure and History - Freight App, Inc. was incorporated in 2015 and aims to provide solutions for the cross-border commercial freight market between the U.S. and Mexico, and the U.S. and Canada[130] - The merger between Hudson Capital and Fr8App was completed on February 14, 2022, with Fr8App becoming a wholly-owned subsidiary of Hudson Capital[135] - Following the merger, Hudson Capital changed its name to Freight Technologies, Inc. and began trading under the symbol "FRGT" on the Nasdaq Capital Market[139] - The merger resulted in the issuance of 18,249,032 unregistered, restricted securities to shareholders of Fr8App[137] - The company has undergone multiple reverse stock splits, including a 10:1 split on March 24, 2023, and another 10:1 split on February 5, 2024[141][142] - Freight App de México S.A. de C.V. is a wholly-owned subsidiary of Freight App, Inc., expanding its operational footprint in Mexico[144] - The company has divested from its previous business, Hong Kong Internet Financial Services Limited, and is now focused on its freight technology solutions[140] - The company’s fiscal year ends on December 31, aligning its financial reporting with the calendar year[146] - The company has not been involved in bankruptcy or similar proceedings[147] - The company operates under multiple brands, including Fr8App, Fr8Fleet, Waavely, Fr8Now, Fr8Radar, and Fleet Rocket[140] Operational Metrics - As of December 31, 2024, Fr8Tech had a total of 82 employees, with 74 based in Mexico[118] - Fr8Tech's total current monthly rent for all office locations is approximately $11,000, with facility lease expenses of approximately $141,315 and $101,000 for the years ended December 31, 2024, and 2023, respectively[121] - Fr8Tech's principal asset consists of its software, which is continuously invested in through development work[122] - Fr8Tech's competitors include established logistics companies and emerging startups in the 3PL industry, indicating a rapidly evolving competitive landscape[109] - The company has established a service agreement with TB Networks for AI-powered shipment planning services, enhancing operational efficiency[96]

AI Lab to enable smarter freight operations for customers by developing and integrating cognitive AI solutions Freight Technologies has established a strategic collaboration with the University of Monterrey’s AI Program to advance AI-powered logistics innovation HOUSTON, April 11, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions, proudly announces the launch o ...

BofA Securities analyst Ken Hoexter downgraded the shares of Knight-Swift Transportation Holdings Inc KNX on Tuesday from Buy to Neutral and lowered the price forecast from $66.00 to $46.00. The revision reflects a reduced valuation multiple of 28x, down from 33x, slightly exceeding the company's historical range of 14x-26x. The stock currently trades at 26.4x the 2025 EPS estimate, which may face additional downward pressure as forecasts decline, said the analyst. The analyst's earnings estimates for KNX h ...

HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (NASDAQ:FRGT, "Fr8Tech" or the "Company")), a logistics management innovation company, offering a diverse portfolio of technology- driven solutions, announced today it has entered into a Securities Purchase Agreement (the "Agreement") for the acquisition of $5.2 million of FET Tokens from Fetch Compute, Inc. ("Fetch Compute"), in exchange for 2,311,248 Series A4 preferred shares of the Company, par value $0.0001 per share ("Preferred Sha ...

Landstar System, Inc. (LSTR) is currently mired in multiple headwinds, which, we believe, have made it an unimpressive investment option.LSTR is being hurt by reduced demand for freight services and increased truck capacity. Due to the demand weakness, shipment volumes and rates are low. The top line has been suffering mainly due to the below-par performance of its key segment, namely, truck transportation. Revenues are likely to be weak in the future as well. LSTR expects first-quarter 2025 truckloads to d ...

Union Pacific’s (UNP) efforts to reward its shareholders through dividends and buybacks are encouraging. However, soft freight revenues are concerning as they are hurting growth.Factors Favoring UNPUNP is focused on rewarding its shareholders. Strong free cash flow supports the shareholder-friendly activities at Union Pacific. Free cash flow in 2023 was $1.54 billion. In 2023, the company returned $3.9 billion to its shareholders. Union Pacific hiked dividends twice in 2021. In May 2022, UNP upped its quart ...