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]

Table of Contents As filed with the Securities and Exchange Commission on April 29, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 86-3938682 (I.R.S. Employer Identification No ...