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Freight Technologies Announces Strategic Partnership with Solvento to Integrate Financial Workflows
Globenewswire· 2025-12-05 14:00
Core Insights - Freight Technologies, Inc. has announced a strategic partnership with Solvento to integrate Fleet Rocket TMS with Solvento's financial solutions platform, enhancing invoicing and payment capabilities for logistics operators [1][2] - The collaboration aims to create a unified ecosystem that streamlines logistics execution and financial settlement, benefiting brokers, carriers, and shippers [2][3] Company Overview - Freight Technologies, Inc. (Fr8Tech) is a logistics management innovation company that offers a diverse portfolio of technology-driven solutions, including Fleet Rocket TMS, which is designed to optimize and automate supply chain processes [5] - Solvento is an AI-powered fintech platform that transforms logistics operations in Latin America through automation and smart financing solutions, having processed over 150,000 invoices and financed more than MXN 4.5 billion in freight operations [4] Partnership Details - The integration allows users of Fleet Rocket TMS to connect shipment and operational data to Solvento's financial management tools, simplifying various financial processes [2] - Both companies are launching a mutual referral program and plan to introduce additional collaborative features and joint offerings in the future [3]
Old Dominion Freight Line Provides Update for Fourth Quarter 2025
Businesswire· 2025-12-02 22:15
Core Insights - Old Dominion Freight Line reported a 4.4% decrease in revenue per day for November 2025 compared to November 2024, driven by a 10.0% decline in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight [1][2] - The decrease in LTL tons per day was due to a 9.4% drop in LTL shipments per day and a 0.6% reduction in LTL weight per shipment [1] - For the quarter-to-date period, LTL revenue per hundredweight increased by 5.9%, while LTL revenue per hundredweight excluding fuel surcharges rose by 5.2% compared to the same period last year [1] Financial Performance - Total revenue for the three months ended September 30, 2025, was $1,406.5 million, a 4.3% decrease from $1,470.2 million in the same period of 2024 [6] - For the nine months ended September 30, 2025, total revenue was $4,189.1 million, down 5.4% from $4,428.9 million in 2024 [6] Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.28 per share, representing a 7.7% increase from the dividend paid in December 2024, payable on December 17, 2025 [7] Sustainability Initiatives - Old Dominion released its 2024 Sustainability Report, which aligns with the Sustainability Accounting Standards Board (SASB) Road Transportation Sustainability Accounting Standard and references the Global Reporting Initiative (GRI) standards [8]
Freight Technologies Announces Strategic Agreement to Advance Agentic AI Initiative
Globenewswire· 2025-11-20 14:46
Core Insights - Fr8Tech has entered into a multi-year service agreement with Fetch Compute to utilize their ASI-1 large language models, enhancing its AI-driven logistics solutions [1][2] - The integration of Fetch AI's technology will enable Fr8Tech to develop next-generation logistics AI systems, including autonomous task agents and real-time voice-enabled AI agents [2] Company Overview - Freight Technologies, Inc. (Fr8Tech) is a logistics management innovation company that offers a range of technology-driven solutions aimed at optimizing and automating supply chain processes [3] - The company's portfolio includes various platforms such as Fr8App for cross-border shipping, Fr8Now for less-than-truckload shipping, and Fleet Rocket for transportation management [3] Technology and Innovation - Fr8Tech plans to leverage the ASI-1 models to enhance multi-agent collaboration in freight procurement, scheduling, exception handling, and real-time communication [2] - The integration of advanced AI technologies is expected to significantly improve operational workflows for shippers, carriers, and brokers [2]
Freight Technologies Announces the Commercial Launch of Zayren - AI-Powered Freight Rate Prediction & Carrier Matching Platform
Globenewswire· 2025-11-19 14:00
Core Insights - Freight Technologies, Inc. has launched Zayren, an AI-based pricing-prediction tool and carrier-matching platform aimed at enhancing logistics for cross-border and domestic freight shipments between Mexico and the United States [1][2][3] Product Features - Zayren offers real-time freight-rate predictions, allowing shippers and brokers to access instant pricing insights for both cross-border and domestic loads [2][5] - The platform includes an integrated AI agent that helps users identify available carriers for specific lanes, streamlining the freight procurement and matching process [2][3] - Key features of Zayren include real-time rate estimations, AI-powered carrier-matching agents, and exclusive access for Fleet Rocket TMS users during the initial rollout [5] Strategic Importance - The launch of Zayren is seen as a significant advancement in freight procurement and execution within the U.S.–Mexico corridor, providing tools for faster operations, cost reduction, and enhanced transparency [3] - The platform's machine-learning capabilities address price volatility in logistics, analyzing large volumes of data to deliver accurate, real-time rate predictions that improve over time [3] Future Developments - Freight Technologies plans to introduce voice-enabled AI agents with additional logistics functionalities in 2026, further expanding its AI-driven automation across the freight transportation ecosystem [3]
Trackonomy and Delta Cargo Launch Pulse: A New Era of Air Freight Transparency and Efficiency
Prnewswire· 2025-11-11 15:00
Core Insights - Trackonomy collaborates with Delta Cargo to launch the Pulse platform, enhancing shipment transparency and operational reliability in air cargo operations [1][2][5] Company Overview - Trackonomy is a leader in Physical AI and smart logistics solutions, focusing on real-time intelligence and automation in logistics and supply chain management [7] - Delta Cargo, the air freight division of Delta Air Lines, serves over 290 destinations and transported over 11 million pieces of cargo in 2024 [9][10] Technology and Innovation - The Pulse platform utilizes Trackonomy's visibility technology to provide real-time location intelligence and proactive alerts for potential disruptions, improving operational efficiency [2][3] - Built on Trackonomy's Sentient Platform, Pulse integrates various data sources for predictive analytics and autonomous intervention, creating a self-optimizing network [3][4] Operational Impact - Pulse enables gate-level cargo visibility and real-time status updates, facilitating a seamless flow of data and enhancing tracking capabilities for air freight [4][5] - The system is currently active for DASH and DASH Critical shipments at multiple major U.S. airports, including Atlanta, New York, and Los Angeles [5][6] Customer Experience - Customers benefit from automatic real-time tracking through SmartTape tags, enhancing the visibility of their shipments without additional steps [6]
Freightos Eliminates Modal Divide By Expanding From Air to Ocean Freight Pricing, Rate Management and Quoting
Prnewswire· 2025-11-05 12:00
Core Insights - Freightos Limited has launched WebCargo Rate & Quote Ocean, integrating air and ocean freight pricing, quoting, and booking into a single platform, significantly enhancing operational efficiency for freight forwarders [1][2][4] Group 1: Product Launch and Features - The new platform allows freight forwarders to manage rates, quotes, and bookings for both air and ocean freight on a unified digital platform, with integrations to major ocean carriers [2][4] - During its beta phase, WebCargo Rate & Quote Ocean processed thousands of ocean freight quotes, with early adopters reporting a 75% reduction in quote times [3][4] Group 2: Market Impact and Strategic Goals - The launch addresses a critical gap in digital rate management for ocean freight, enabling forwarders to simplify operations and improve customer service [4] - Freightos aims to unify global freight by bridging the operational divide between air and ocean logistics, facilitating faster and more accurate quotes [4][6] Group 3: Company Overview - Freightos is a leading vendor-neutral global freight booking platform, connecting airlines, ocean carriers, freight forwarders, and importers/exporters to enhance efficiency in world trade [6][7] - The platform supports a suite of software solutions for various stakeholders in the international freight industry, including real-time industry data through Freightos Terminal [7][8]
Descartes' Study Finds 67% of Freight Forwarders and Customs Brokers View Technology as Fundamental to Growth
Globenewswire· 2025-11-04 11:45
Core Insights - The logistics industry is facing significant challenges such as global instability (60%), tariff changes (42%), and customer pricing pressure (61%) over the next five years, according to a study by Descartes Systems Group [1][6] - Despite these challenges, 67% of logistics providers view technology as essential for growth, with 55% identifying the implementation of new technologies as a key strategy to outperform competitors [1][6] Technology and Investment Trends - Automation and artificial intelligence (AI) are seen as critical for achieving long-term efficiency, compliance agility, and profitability, with 65% of respondents expecting AI to deliver the greatest value in the next two years [3][6] - The importance of rate management (20%) and regulatory compliance systems (30%) has increased, reflecting the need for automated, self-service capabilities and the complexities of evolving regulations [3][6] Industry Evolution - The role of technology in logistics has evolved from streamlining back-office operations to enabling digital customer engagement and intelligent automation, indicating a shift in IT investment priorities over the years [6] - The study surveyed 434 freight forwarders and customs brokers globally, providing insights into economic, regulatory, and industry trends that shape the logistics landscape [6] Competitive Landscape - Tailored services (33%) have surpassed high service (31%) as the primary competitive advantage, indicating a shift towards more customized and data-driven customer experiences [8] - There is a notable divergence in the perception of technology's importance based on company size, with 60% of large companies viewing it as fundamental to growth compared to only 27% of small companies [8]
Freight Technologies Advances Fleet Rocket TMS with Expanded GPS Network
Globenewswire· 2025-10-27 13:00
Core Insights - Freight Technologies, Inc. has enhanced its Fleet Rocket platform by integrating 23 new GPS providers, increasing the total to 54, positioning it as one of the most connected TMS platforms in North America [1][2][4] Company Overview - Freight Technologies, Inc. (Fr8Tech) is a logistics management innovation company that offers a diverse portfolio of technology-driven solutions aimed at optimizing and automating supply chain processes [5] - The company's offerings include Fr8App for cross-border shipping, Fr8Now for less-than-truckload shipping, Fr8Fleet for dedicated capacity services, Waavely for ocean freight management, and Fleet Rocket as a scalable TMS solution [5] Product Development - The Fr8Radar module of Fleet Rocket aggregates real-time geolocation data from GPS hardware across trucks and trailers in the U.S. and Mexico, enhancing visibility and operational intelligence [3][4] - The integration of additional GPS systems is part of Fr8Tech's long-term strategy to create a highly connected and intelligent TMS solution [2][4] Strategic Partnerships - Fleet Rocket has established partnerships with leading GPS providers such as FourKites and Samsara, which strengthens its network and enhances its service offerings [3][4] Future Direction - The ongoing expansion of Fleet Rocket's capabilities reflects the company's commitment to building a digital backbone for modern freight operations in North America, focusing on transparency, security, and performance [4]
Old Dominion Freight Line Announces $0.28 Per Share Quarterly Cash Dividend
Businesswire· 2025-10-23 11:00
Core Points - Old Dominion Freight Line, Inc. has declared a quarterly cash dividend of $0.28 per share of common stock [1] - The dividend is payable on December 17, 2025, to shareholders of record at the close of business on December 3, 2025 [1] - This dividend payment represents a 7.7% increase compared to the quarterly cash dividend paid in December 2024 [1]
C.H. Robinson Banks on Dividends Amid Freight Challenges
ZACKS· 2025-10-20 14:06
Core Insights - C.H. Robinson Worldwide (CHRW) is experiencing positive impacts from cost-cutting measures and shareholder-friendly initiatives, although it faces challenges from soft demand and weak liquidity [1] Group 1: Cost Management and Operational Efficiency - C.H. Robinson's operating expenses decreased by 9.3% year over year to $7.8 billion in the first half of 2025, driven by lower personnel costs and productivity enhancements [2] - The divestiture of the European Surface Transportation business and the absence of prior-year restructuring charges contributed to the company's cost savings [2] - The company's focus on operational efficiency and sustainable profit growth is evident through these proactive measures [2] Group 2: Shareholder Returns - In 2022, C.H. Robinson paid $285.32 million in cash dividends and repurchased $1.459 billion in shares, continuing its shareholder-focused approach in 2023 with $63.88 million in share buybacks and $291.56 million in dividends [3] - In 2024, the company distributed $294.77 million in cash dividends, maintaining its commitment to shareholder returns despite not repurchasing shares [3] - Consistent dividends and share repurchases enhance investor confidence and reflect financial discipline, contributing to long-term profitability [4] Group 3: Market Challenges - C.H. Robinson is facing significant challenges from weak freight demand, which is impacting its top-line performance [8] - Lower pricing in truckload services due to an oversupply of capacity relative to demand has intensified pricing competition, reducing margins and limiting revenue growth opportunities [8] - The company's liquidity position is concerning, with cash and cash equivalents of $155.99 million compared to long-term debt of $922.31 million, indicating limited financial flexibility [10] Group 4: Investment in Technology - Ongoing investments in technology are aimed at long-term efficiency and competitiveness, with capital expenditures of $74.3 million in 2024 and expected investments of $65 million to $75 million in 2025 [11] - While these investments are essential for digital transformation, they may pressure near-term earnings until the benefits of automation and enhanced systems materialize [11]