Financial Data and Key Metrics Changes - The company reported revenue of $6.9 million, representing a 30% year-over-year growth [24] - Platform revenue was $2.3 million, up 23% year-over-year, while solutions revenue reached $4.6 million, up 33% year-over-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] - Adjusted EBITDA improved to a loss of $3 million from a loss of $3.6 million in Q1 last year [26] - The company ended the quarter with $36.4 million in cash and cash equivalents [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] - The solutions segment saw notable enterprise customer wins, including a five-year contract with a major European building materials manufacturer [17] Market Data and Key Metrics Changes - In air cargo, global volumes were up 8% year-over-year, while rates were 6% lower compared to last year [7] - China's US ocean volumes dropped significantly during a period of high tariffs, impacting specific trade lanes [8] - The company noted a potential stabilization in trade relations following recent US-China agreements [12] Company Strategy and Development Direction - The company aims to expand its platform by adding new types of transactions and enriching existing services [15] - A new partnership with a major North American ground transportation provider will enable freight forwarders to book trucking services directly through the platform [16] - The launch of the Freightos Enterprise Suite is designed to serve the complex needs of multinational shippers [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the resilience of the business model despite macroeconomic uncertainties [28] - The company reiterated its guidance for the year, expecting continued growth in transactions and revenue [28] - Management highlighted the importance of digitalization in global trade and the significant growth opportunities available [24] Other Important Information - The company is participating in several upcoming investor events, including the Sidoti Microcap Conference and the Oppenheimer Technology, Internet and Communications Conference [4] - The company emphasized the critical value of its market intelligence during periods of significant market volatility [19] Q&A Session Summary Question: What factors 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 economic uncertainty could affect the solutions segment [33][36] Question: How could supply chain diversification benefit the company? - Management indicated that the company benefits from market volatility by providing valuable tools and data to the industry [40][42] Question: How quickly could supply from companies like Timu and Shine come back online? - Management expressed uncertainty about the timeline for supply to return but noted that air cargo rates had not dropped significantly yet [48] Question: What is the revenue dynamic behind the new trucking partnership? - Management explained that the partnership would enhance the platform's offerings, allowing for a more comprehensive service for freight forwarders [50][57] Question: Why is there a mismatch between GBV and revenue growth? - Management clarified that a large portion of transactional bookings is based on a flat fee, which contributes to the mismatch [64][72] Question: What constitutes the economic moat for Freightos? - Management emphasized network effects as the primary moat, highlighting the importance of having a large number of buyers and sellers on the platform [74][76]