Core Viewpoint - Freightos Limited's stock experienced a significant decline of approximately 30% following the resignation of its founder Zvi Schreiber from the board of directors, coinciding with the release of the company's earnings report [1][2][3] Financial Performance - For the year ending December 31, 2025, Freightos reported revenue of $29.5 million, marking a 24% increase from $23.8 million in 2024 [4] - Despite the revenue growth, the company's adjusted EBITDA was negative $11.2 million for 2025, although this was an improvement from a negative $12.6 million in 2024 [4] - The company reported an IFRS loss of $17.5 million for the full year of 2025, following adjusted losses of $19 million in 2023, $14.6 million in 2022, and $12.4 million in 2021 [2][3] Leadership and Strategic Direction - The board of Freightos stated that it remains fully constituted and is actively searching for a new CEO while thanking Schreiber for his leadership [2] - CFO and interim CEO Pablo Pinillos expressed confidence in the company's cash position, stating it fully funds plans to reach breakeven by the end of 2026, with a projected first profit anticipated in the fourth quarter of 2026 [5] - The company is focusing on solution adoption, aiming to embed its software into customers' daily workflows to drive platform bookings and enhance network effects, positioning itself for higher growth in 2027 and beyond [5]
Freightos stock plummets after founder resigns