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Nippon Express Expands Global Freight Operations with Freightos' Air and Ocean Pricing and Booking SaaS Solution
Prnewswire· 2025-10-01 11:00
Accessibility StatementSkip Navigation BARCELONA, Spain, Oct. 1, 2025 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), the leading vendor-neutral global freight booking and payment platform, today announced that top-five global freight forwarder Nippon Express (NX Group) has selected Freightos' multimodal freight pricing and booking Software-as-a-Service (SaaS) solution to power its operations across most of its global network, spanning hundreds of offices in 57 countries." Nippon Express has deployed Frei ...
Freightos(CRGO) - 2025 Q2 - Earnings Call Transcript
2025-08-18 13:30
Financial Data and Key Metrics Changes - The company reported revenue of $7.4 million for Q2 2025, marking a 31% increase year over year [31] - Adjusted EBITDA for Q2 was negative $2.5 million, an improvement from negative $3.1 million in Q2 2024 [32] - Gross margin on IFRS basis was approximately 67%, up from 65% in Q2 last year [32] Business Line Data and Key Metrics Changes - Platform revenue reached $2.5 million, up 23% year over year, marking the fourth consecutive quarter of growth exceeding 20% [31] - Solutions revenue increased by 36% year over year to $4.9 million, reflecting proactive expansion of product capabilities [31][24] Market Data and Key Metrics Changes - The air cargo market saw a 3% increase in volumes compared to Q2 last year, despite challenges from tariff changes [14] - Ocean freight rates rose 43% from Q1 but were still 11% lower than last year, indicating capacity growth and potential overcapacity [15] Company Strategy and Development Direction - The company aims to digitalize international freight, positioning itself as a leading global freight platform [10][11] - Strategic expansion includes adding new carriers, with a total of 75 carriers now on the platform, enhancing coverage on critical routes [19] - The company is focused on increasing liquidity in ocean capacity and modernizing IT among ocean carriers [21][23] Management's Comments on Operating Environment and Future Outlook - Management noted that while tariffs have created some headwinds, the overall impact is minor compared to the trend of digitalization driving long-term growth [17] - The company remains on track to achieve breakeven adjusted EBITDA by the end of 2026, with confidence in sustaining growth rates [33][75] Other Important Information - The company has a strong balance sheet with $34 million in cash and cash equivalents [33] - The company plans to participate in several investor events, including the H. C. Wainwright Annual Investment Conference in September [4] Q&A Session Summary Question: Why did the company raise full year GBV guidance but keep revenue largely unchanged? - Management indicated that the mix of transactions affects revenue, with some lower take rate transactions growing faster [38][39] Question: How is the ShipStar position helping drive solutions revenue? - The integration of ShipStar has enhanced the product portfolio, enabling cross-sell opportunities and improving data offerings [41][42] Question: What is driving the pressure for modernization in the ocean freight sector? - The need for digital connections is being driven by customer demand for efficiency, moving away from traditional methods like Excel sheets [52] Question: Are there any strategic changes or new growth areas being evaluated? - Management is continuously reviewing resource allocation but does not expect any major changes at this time [60][61] Question: How much did FX fluctuations impact Q2 profitability? - FX fluctuations significantly affected adjusted EBITDA, but the company has managed to hedge nearly 100% of its exposure [62][64] Question: How does the company expect to achieve breakeven by the end of next year? - Management is confident in reaching breakeven with current growth trends and operational expense management [75][76]
Freightos (CRGO) FY Conference Transcript
2025-08-11 19:05
Summary of Freightos (CRGO) FY Conference Call - August 11, 2025 Company Overview - **Company**: Freightos (CRGO) - **Industry**: Global freight and logistics, focusing on digitalizing shipping processes Key Points and Arguments Industry Context - The global shipping industry is valued at approximately **$600 billion** annually, with **90%** of products in stores in the US and Europe being imported [9][8] - The industry remains largely offline, presenting a significant opportunity for digital transformation [6][7] Business Model - Freightos aims to be the **Booking.com or Expedia** for global freight, providing a digital platform for shipping [8] - The company operates two segments: - **Platform**: Transactional revenue from bookings - **Solutions**: Subscription-based revenue from software and data services [30] Financial Performance - The company has seen a **26% growth** in the number of transactions and a **24% increase** in booking per transaction [42] - Gross booking value increased by **56%**, exceeding expectations by **13%** [42] - The company is not yet profitable but has a clear path to profitability, projecting to reach positive EBITDA by Q4 of the following year [67] Market Dynamics - The freight forwarding industry consists of **100,000 freight forwarders**, with the largest handling **$2.03 trillion** annually [17] - Most transactions in the industry are still conducted via emails and phone calls, leading to inefficiencies such as **2-3 days** wait for price quotes [20][19] Digitalization Efforts - Freightos is a leader in the digitalization of the freight industry, with a focus on improving transaction speed and reducing costs [45] - The company has developed a digital customs broker, **Clearit**, to enhance its service offerings [81] AI Integration - The company is actively integrating AI to improve internal efficiencies and product offerings, particularly in dynamic pricing for airlines [51][53] - Unique data assets allow Freightos to create tailored AI solutions that competitors may find hard to replicate [54] Growth Opportunities - The ocean freight market is seen as a significant growth area, with signs of digitalization finally emerging [57] - The company is exploring ways to aggregate small importers and exporters, which represents a large market opportunity [71] Strategic Considerations - M&A is considered an option but not a necessity; the company prefers to preserve cash and focus on organic growth [68] - Partnerships with transportation management systems have been beneficial, but direct sales remain the primary revenue source [66] Regulatory Impact - The recent removal of the **de minimis exemption** for low-value imports is expected to positively impact Freightos by increasing demand for customs brokerage services and freeing up air cargo capacity [80][82] Additional Important Insights - The company has established a strategic footprint by owning both the backend (Webcargo) and frontend (Freightos marketplace) of its platform, creating barriers to competition [28][30] - The growth dynamic of marketplaces is emphasized, where increased participation from buyers and sellers enhances overall platform value [64] This summary encapsulates the key insights from the Freightos FY conference call, highlighting the company's strategic positioning, market dynamics, and growth potential in the logistics industry.
Freightos Expands Board of Directors, Adding Rotem Hershko and Appointing Udo Lange as Chairman
Prnewswire· 2025-08-04 11:00
Core Insights - Freightos has appointed Udo Lange as Non-Executive Chairman and Rotem Hershko as a Director, effective July 28, 2025, to enhance its digital freight vision [1][3] Leadership Appointments - Udo Lange brings over 30 years of logistics leadership experience, including roles at FedEx and advising the White House Supply Chain Disruption Task Force [2][3] - Rotem Hershko has a strong background in technology and logistics, having held leadership positions at Amazon and Maersk, and currently serves as a Senior Advisor at McKinsey & Company [3][4] Strategic Direction - The new leadership aims to advance Freightos' mission of end-to-end global freight digitization, enhancing connections among shippers, forwarders, and carriers [3][4] - The company has made significant strides, reporting an annualized run rate of over 1.5 million platform transactions after 22 consecutive quarters of growth [4] Product Offerings - Freightos provides a suite of software solutions for the international freight industry, including Freightos Enterprise for multinational importers and exporters, and various products for freight forwarders and airlines [6] - The platform aims to digitize the trillion-dollar international freight industry, making global trade more efficient and accessible [6] Market Position - Freightos is recognized as a leading vendor-neutral global freight booking platform, connecting airlines, ocean carriers, freight forwarders, and over ten thousand importers and exporters [5][6] - The company also offers real-time industry data through Freightos Terminal, which includes leading spot pricing indexes for air cargo and container shipping [7]
Freightos Schedules Earnings Release and Conference Call for May 20, 2025
Prnewswire· 2025-05-06 11:00
Company Overview - Freightos Limited (NASDAQ: CRGO) is a leading vendor-neutral global freight booking platform that connects airlines, ocean carriers, freight forwarders, and importers/exporters, enhancing the efficiency and resilience of world trade [4][5]. - The platform digitizes the trillion-dollar international freight industry, offering a suite of software solutions for pricing, quoting, booking, shipment management, and payments [5]. Financial Results Announcement - Freightos will report its Q1 2025 financial results before market open on May 20, 2025, with a management-hosted webcast and conference call scheduled for 8:30 a.m. EST on the same day [1]. Investor Relations - Information regarding the financial results and a link to the live webcast will be available on Freightos' investor relations website [2]. - Participants can register for the call via a provided link, and a replay of the webcast along with the call's transcript will be accessible on the investor relations website post-call [3]. Industry Data - Freightos is a prominent provider of real-time industry data through Freightos Terminal, which includes leading spot pricing indexes such as the Freightos Air Index (FAX) for air cargo and the Freightos Baltic Index (FBX) for container shipping [6].
Freightos Unveils Enterprise Suite, Creating First End-to-End Global Freight Procurement Platform
Prnewswire· 2025-04-23 11:00
Core Insights - Freightos has launched Freightos Enterprise, an integrated logistics procurement suite aimed at large importers and exporters, addressing the fragmented nature of global freight procurement and execution [1][4] - The platform combines annual, quarterly, and spot procurement of air, ocean, and ground freight, providing essential market intelligence to navigate industry volatility [1][4] Company Overview - Freightos (NASDAQ: CRGO) is a leading digital freight booking and payment platform that connects airlines, ocean carriers, freight forwarders, and over ten thousand importers and exporters [5] - The company digitizes the trillion-dollar international freight industry with a suite of software solutions for pricing, quoting, booking, shipment management, and payments [6] Product Features - Freightos Enterprise includes three modules: Procure, Rate, Book & Manage, and Terminal, which streamline the procurement process and enhance operational efficiency [2][8] - The Procure module automates RFQs and contract optimization, reducing procurement time by up to 90% [8][9] - The Rate, Book & Manage module offers direct digital connectivity to hundreds of carriers for rate comparison and shipment tracking [8] - The Terminal module provides real-time freight market intelligence and enhanced contract benchmarking capabilities [8] Market Context - The launch of Freightos Enterprise aligns with current industry challenges, including trade uncertainties and volatile rates, necessitating optimized spending and efficiency in complex supply chains [4] - Customers using Freightos Enterprise have reported significant benefits, including a 20% reduction in freight spend and an 80% decrease in email communication related to quoting and booking [9]