Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $7.4 million, up 12% year-over-year, while full year revenue reached $29.5 million, up 24% year-over-year [23][24] - Gross booking value (GBV) for Q4 was $357 million, up 27% year-over-year, indicating strong transaction growth [11] - Non-IFRS gross margin for Q4 was 72.7%, down from 74.3% in Q4 2024, while the full year gross margin was 73.7%, up 130 basis points compared to 2024 [24] Business Line Data and Key Metrics Changes - Platform revenue grew 13% in Q4 and 18% for the full year, while solutions revenue increased by 12% in Q4 and 27% for the full year [23][24] - The active carrier network remained at a record of 77 carriers, unchanged from Q3 and up from 67 in Q4 2024 [10] Market Data and Key Metrics Changes - Transactions and gross booking value (GBV) continued to grow at about 20%, while revenue guidance for 2026 is projected at 6%-12% [50] - The company is experiencing longer sales cycles due to market volatility, which has affected near-term solutions revenue growth [25][51] Company Strategy and Development Direction - The company is prioritizing profitability and disciplined growth, aiming to reach break-even by the end of 2026 [4][6] - A solutions-first strategy is being adopted, focusing on deeper integration and workflow ownership across air, ocean, and procurement [17][21] - The company plans to strengthen its comprehensive solution suite while driving transaction growth across the platform [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving break-even Adjusted EBITDA by Q4 2026, driven by operational discipline and cost efficiency [26][48] - The board believes there is a significant long-term opportunity to digitalize and modernize global freight, with a focus on enhancing governance and leadership [5][7] Other Important Information - The company closed the quarter with $27.9 million in cash and short-term bank deposits, slightly better than expectations [24] - The transition from a founder-led to a professional CEO-led organization is progressing, with a new CEO expected to be appointed before the next earnings release [6] Q&A Session Questions and Answers Question: Has there been a fundamental change in the go-to-market strategy compared to a year ago? - The go-to-market change is not drastic but focuses on being customer-led and prioritizing projects with better returns [30][31] Question: Any changes on the headcount side or operational changes to pursue a more selective strategy? - The focus will be on higher-value targets and overall execution improvements in the go-to-market strategy [32] Question: What is driving the gap between transaction growth and revenue guidance for 2026? - The gap is due to the solutions revenue being affected by market volatility and longer sales cycles, which has delayed new bookings [50][51] Question: Are you still comfortable with the likelihood of achieving EBITDA breakeven in 2026? - The company remains focused on cost discipline and operational efficiency to achieve Adjusted EBITDA breakeven by Q4 2026 [48] Question: Can you elaborate on the decision of Dr. Schreiber to step down from the board? - The decision was not planned and was made by Dr. Schreiber; the board remains strong and aligned on the company's strategy [52]

Financial Data and Key Metrics Changes - The company reported revenue of $6.9 million, representing a 30% year-on-year growth [24] - Platform revenue was $2.3 million, up 23% year-on-year, while solutions revenue reached $4.6 million, up 33% year-on-year [25] - Gross margin improved to 66.8% on an IFRS basis, up from 62.6% in Q1 last year, and non-IFRS gross margin increased to 73.7% from 70.3% [25][26] - Adjusted EBITDA improved to a loss of $3 million from a loss of $3.6 million in Q1 last year [26] Business Line Data and Key Metrics Changes - The company facilitated over 370,000 transactions in Q1, a 25% increase from the same period last year [6] - The onboarding of four new carriers brought the total to 71 carriers on the platform [7][21] - The solutions segment saw notable enterprise customer wins, including a renewal from a global industrial conglomerate and a new contract with a major European building materials manufacturer [17][18] Market Data and Key Metrics Changes - In air cargo, global volumes increased by 8% year-over-year, while rates were 6% lower compared to last year [7][8] - China's US ocean volumes dropped significantly during a period of high tariffs, impacting the market [8] - The bellwether FBX01 index for shipping a 40-foot container transpacific dropped to around $2,000, reflecting a return to long-term average rates [9] Company Strategy and Development Direction - The company aims to digitalize international shipping and expand its platform across multiple dimensions, including adding new transaction types and enriching existing services [15][14] - The launch of the Freightos Enterprise software as a service solution is expected to create new sales and cross-sell opportunities [7] - The company is focused on network effects to drive sustainable competitive advantage and capital-efficient growth [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential stabilization in trade relations following recent US-China agreements [11][12] - The company remains cautious about the impact of tariffs and trade policy changes on its business, noting that market volatility can increase the need for its marketplace [10][28] - The company reiterated its guidance for the year, expecting continued growth despite macroeconomic uncertainties [28] Other Important Information - The company ended the quarter with $36.4 million in cash and cash equivalents, maintaining a strong balance sheet [27] - The Freightos Enterprise Suite was launched shortly after the quarter end, designed to serve the complex needs of multinational shippers [19][20] Q&A Session Summary Question: What could affect the company's ability to hit targets for the year? - Management noted that fluctuations in trade volumes could impact the platform segment, while macroeconomic uncertainty could affect the solutions segment [33][36] Question: How could supply chain diversification benefit the company? - Management indicated that volatility in trade could benefit the marketplace, providing valuable tools and data to the industry [40][42] Question: What is the revenue dynamic behind the new trucking partnership? - The trucking partnership is expected to enhance the platform's offerings, allowing freight forwarders to manage multimodal shipments more easily [51][56] Question: Why is there a mismatch between GBV and revenue growth? - The company explained that a large portion of transactional bookings is based on a flat fee, which contributes to the mismatch [71][72] Question: What constitutes the economic moat for the company? - The company emphasized that network effects create a significant moat, as the platform connects a large number of buyers and sellers [73][75]