Freightos Limited ( (CRGO) ) has released its Q4 earnings. Here is a breakdown of the information Freightos Limited presented to its investors.
Freightos Limited is a leading vendor-neutral digital booking and payment platform for the international freight industry, known for its role in digitizing global trade. The company recently announced its financial results for the fourth quarter and full year of 2024, highlighting significant growth and strategic advancements. In the fourth quarter of 2024, Freightos achieved a 25% year-on-year revenue increase, marking its highest growth rate since going public. The company also reported a record number of transactions for the 20th consecutive quarter, reinforcing its leadership in digital freight solutions. Key financial metrics include a fourth-quarter revenue of $6.6 million, a gross margin improvement to 67.6%, and an adjusted EBITDA of negative $3.1 million, showing a reduction in losses compared to the previous year. For the full year, Freightos reported a revenue of $23.8 million, a 17% increase from 2023, with a notable improvement in gross margins and a significant reduction in IFRS loss. Looking ahead, Freightos is optimistic about its growth trajectory, with plans for new product launches and increased AI adoption, aiming for breakeven by the end of 2026.