Freightos Reports Fourth Quarter and Full Year 2024 Results

Core Insights - Freightos Limited reported its highest revenue growth rate since going public, with a fourth quarter revenue increase of 25% year-on-year, reaching $6.6 million, and a full year revenue increase of 17$23.8 million [7][8][22]. Financial Highlights - Fourth Quarter 2024: Revenue of $6.6 million, up 25$5.3 million in Q4 2023; IFRS Gross Margin of 67.6%, up from 62.2% in Q4 2023; IFRS loss of $9.8 million, compared to a loss of$3.3 million in Q4 2023 [8][22]. - Full Year 2024: Revenue of $23.8 million, a 17$20.3 million in 2023; IFRS Gross Margin of 65.2%, compared to 58.2% in 2023; IFRS loss of $22.5 million, significantly improved from a loss of$65.5 million in 2023 [8][22]. Transaction and User Growth - Freightos achieved a record 350.4 thousand transactions in Q4 2024, a 22% increase year-over-year; for the full year, approximately 1.3 million transactions were facilitated, up 27% from 2023 [8][22]. - The number of unique buyer users grew by 14% year-over-year, reaching 20.1 thousand in Q4 2024 [8]. Carrier Expansion - The number of carriers on the platform increased from 55 in Q3 2024 to 67 in Q4 2024, with notable additions including CMA CGM AIR CARGO, Norwegian Cargo, and WestJet Cargo [8]. Gross Booking Value (GBV) - GBV for Q4 2024 was $280.7 million, up 50$1 billion; full year GBV was $894.0 million, a 33% increase from 2023 [8][22]. Revenue Streams - Revenue from the WebCargo by Freightos platform and customs clearance services contributed to the strong growth; SaaS solutions, including Shipsta, achieved their highest quarterly revenue ever in Q4 2024 [8][22].