Freightos reports 229K transactions booked in Q1 vs 211K in Q4

Freightos Limited reported Q1 2023 Key Performance Indicators. Financial results will be reported separately. Transactions 229,211 vs management’s expectations of 218,500 – 225,000. A record 229K transactions were booked on the platform in Q1 2023, up from 211K in Q4 2022 and 114K in Q1 2022. This exceeded the high end of management’s expectations by 2% and represented an 8.8% increase compared to the previous quarter, despite market softness and the first quarter being the normally seasonally weak quarter for the industry. Freightos has experienced record platform Transaction growth for the previous 13 consecutive quarters. Despite market conditions, GBV exceeded management expectations as a result of strong Transaction growth. This growth was supported by an increase in both demand – users booking across the platform – and supply – carriers offering their services on the platform. The number of Unique buyer users digitally booking freight services across the Freightos Platform grew 29% compared to Q1 2022, reaching 16,226. Carriers selling on the platform, primarily on WebCargo, reached 37 in Q1 2023, up 19% year over year.