Core Viewpoint - Freight Technologies, Inc. has announced a one-for-four reverse share split of its ordinary shares, effective May 27, 2025, aimed at consolidating its share structure and potentially enhancing its stock price [1][2]. Share Structure Changes - The reverse split will reduce the number of outstanding ordinary shares from 9,145,074 to 2,286,269, with every four pre-split shares combining into one post-split share [2][4]. - The shares will continue to trade on the Nasdaq under the symbol "FRGT" but will have a new CUSIP number: G51413147 [2][4]. Fractional Shares Handling - No fractional shares will be issued; shareholders entitled to a fractional share will receive an additional share to round up to the next whole share if the fractional share is less than one-half [3]. - Fractional shares equal to less than one-half will be canceled [3]. Company Overview - Freight Technologies, Inc. specializes in logistics management and offers a range of technology-driven solutions, including the Fr8App platform for cross-border shipping, Fr8Now for less-than-truckload shipping, and other services aimed at optimizing supply chain processes [5]. - The company utilizes AI and machine learning to enhance operational efficiency and improve the matching of carriers and shippers [5].

Financial Performance - Gross margin percentage increased by 1.8% year-over-year to 9.8% in 2024 from 7.9% in 2023 due to more profitable routes and operational efficiency improvements[7] - Cash flow from operations improved by $1.6 million year-over-year to -$4.2 million from -$5.8 million in 2023, driven by better margins and working capital management[7] - Net loss improved by $3.7 million year-over-year to -$5.6 million in 2024 from -$9.3 million in 2023, despite lower revenue, due to higher gross margins and lower operating expenses[7] - Revenue for 2024 was reported at $13.73 million, down from $17.06 million in 2023[11] - Net loss for 2024 was $5,601,227, an improvement from a net loss of $9,327,606 in 2023, representing a reduction of approximately 40%[17] Assets and Liabilities - Total assets decreased to $5.69 million in 2024 from $10.04 million in 2023[13] - Total liabilities decreased to $6.35 million in 2024 from $7.41 million in 2023[13] Cash Flow and Financing - Cash used in operating activities decreased to $4,206,168 in 2024 from $5,790,684 in 2023, indicating a 27% improvement[17] - Cash and cash equivalents at the end of the period dropped to $204,032 from $1,560,105, reflecting a decrease of approximately 87%[17] - Net cash provided by financing activities was $4,242,023 in 2024, down from $6,800,722 in 2023, a decline of about 38%[17] - The company reported a gain from extinguishment of debt amounting to $1,607,766 in 2024[17] - Proceeds from issuance of common stock from ATM Offering amounted to $3,079,016 in 2024[17] Operational Highlights - Fr8Fleet, the dedicated capacity service, achieved 42% year-over-year revenue growth[3] - The company launched Waavely, an ocean freight booking and management platform, in July 2024, and Fleet Rocket, a Transportation Management System, in February 2025[2][3] - Customer satisfaction survey indicated a response rate of over 80%, with average scores greater than four out of five[3] - The company expects to continue improving financial results in 2025, focusing on software offerings and AI-powered solutions[5] Expenses and Costs - Depreciation and amortization increased to $430,414 in 2024 from $404,598 in 2023, a rise of about 6%[17] - Share-based compensation decreased to $981,023 in 2024 from $1,153,787 in 2023, a reduction of approximately 15%[17] - Accounts receivable increased significantly to $1,120,176 in 2024 from $45,383 in 2023, indicating a substantial growth[17] - The company capitalized software development costs of $336,153 in 2024, slightly up from $328,645 in 2023[17]

Core Insights - Freight Technologies, Inc. (Fr8Tech) reported significant improvements in gross margins and cash flow from operations in Q1 2025, despite facing challenges in the macroeconomic environment [2][4] - The company launched Fleet Rocket, an advanced Transportation Management System (TMS), and introduced an AI-powered Tendering Bot to enhance its logistics solutions [2][7] - Fr8Tech is adjusting its 2025 revenue and margin outlook due to anticipated economic impacts from higher tariffs on US-Mexico trade, while remaining optimistic about recovering cross-border volumes through domestic shipments [5][6] Business Highlights - The company extended agreements with several multinational enterprises, indicating strong business relationships and market confidence [2] - Fleet Rocket was successfully launched, aimed at optimizing freight brokerage and shipping operations [7] - New features were added to existing platforms, including AI capabilities and mobile applications for dispatchers [7] Financial Highlights - Gross margin percentage increased by 7.0% year-over-year to 12.4% in Q1 2025 from 5.4% in Q1 2024, reflecting a focus on profitable routes [7] - Cash flow from operations improved by $0.2 million year-over-year to ($3.1) million in Q1 2025 from ($3.3) million in Q1 2024 [7] - Net loss decreased by $0.7 million year-over-year to ($1.6) million in Q1 2025 from ($2.3) million in Q1 2024, attributed to higher gross margins and lower operating expenses [7] 2025 Annual Outlook - The company is lowering the high-end of its revenue and margin outlook for 2025 due to expected economic impacts from higher tariffs on US-Mexico cross-border trade [5] - Fr8Tech believes it can recover most cross-border volume through domestic shipments, but remains cautious due to uncertainties in trade policy [5]

Financial Performance - For the three months ended March 31, 2025, revenue decreased to $4,100,640 from $4,287,760 for the same period in 2024, representing a reduction of $187,120 or 4.4% year-over-year[143] - The company reported a net loss of $1,602,046 for the three months ended March 31, 2025, compared to a net loss of $2,256,450 for the same period in 2024[142] - Operating loss for the three months ended March 31, 2025, was $1,464,101, an improvement from the operating loss of $2,083,746 in the same period of 2024[142] - Fr8Tech had an accumulated deficit of approximately $46.5 million and reported operating losses and negative cash flows from operations for the quarter ended March 31, 2025[155] Cost Management - Cost of revenue for the three months ended March 31, 2025, decreased to $3,593,300 from $4,056,627 in the same period of 2024, a reduction of $463,327 or 11.4% year-over-year[144] - Fr8Tech's compensation and employee benefits expenses decreased by $199,552 or 13.7% year-over-year to $1,254,789 for Q1 2025, primarily due to a reduction in headcount[145] - General and administrative expenses fell by $134,784 or 18.4% to $596,753 for Q1 2025, mainly due to lower spending on professional services and insurance[146] - Sales and marketing expenses decreased by $2,749 or 14.6% to $16,045 for Q1 2025, attributed to reduced online advertising and industry event expenditures[147] - Interest expense decreased by $38,601 to $134,864 for Q1 2025, primarily due to lower borrowing against the revolving credit facility[150] Cash Flow and Liquidity - Net cash used in operating activities for Q1 2025 was $3,096,429, driven by a net loss of $1,602,046 and cash used for working capital of $1,823,320[162] - Net cash provided by financing activities increased to $3,421,713 for Q1 2025, primarily from the issuance of Series A4 shares and short-term borrowings[166] - The liquidity condition raises substantial doubt about Fr8Tech's ability to continue as a going concern for the next twelve months[158] Strategic Focus and Market Conditions - The demand for the company's platform is influenced by overall economic conditions in North America, including international trade levels[137] - The company is focused on enhancing its digital freight matching capabilities to address supply chain challenges and improve operational efficiency[138] - The company believes that the near-shoring trend will continue to create market opportunities for digital brokers in cross-border commerce[139] Financing Activities - The company raised $3,000,000 from the issuance of Series A4 preferred shares in February 2025, contributing to its financing efforts[136] - The company expects to have sufficient funds to carry out planned operations through December 31, 2025, and for at least 12 months beyond that period[136] Accounts Receivable and Payable - Accounts receivable and unbilled receivable balance increased by $1.8 million or 45.1% to $5.9 million as of March 31, 2025, due to lower collections[152] - Accounts payable, short-term borrowings, and accrued expenses rose by $750,000 or 12.4% to $6.8 million as of March 31, 2025, mainly due to higher accrued expenses[153]

Core Viewpoint - Freight Technologies, Inc. (Fr8Tech) is strategically investing in Official Trump Tokens ($TRUMP) as part of its digital asset strategy, marking it as one of the first public companies to do so [1][2]. Group 1: Financial Strategy - Fr8Tech has entered into an agreement for the issuance of convertible notes with a facility of up to USD $20 million, specifically for purchasing Official Trump Tokens [1]. - The company plans to initially issue notes amounting to USD $1 million in the first tranche, with the potential for an additional USD $19 million in subsequent drawdowns [2]. Group 2: Market Positioning - The acquisition of FET Tokens, valued at approximately USD $8 million, is part of Fr8Tech's strategy to diversify its crypto treasury alongside the purchase of $TRUMP tokens [2]. - Fr8Tech aims to promote productive commerce between the United States and Mexico, highlighting Mexico as the top trading partner for the U.S. [2]. Group 3: Company Overview - Fr8Tech is a technology company focused on optimizing and automating supply chain processes through AI and machine learning, offering a range of proprietary platform solutions [4]. - The company's portfolio includes various services such as Fr8App for cross-border shipping, Fr8Now for less-than-truckload shipping, and Fleet Rocket for transportation management [4].

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 ...

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 ...