Freightos reports Q3 EPS (6c) vs. (15c) last year

Reports Q3 revenue $6.2M vs. $5.1M last year. “Our strong third-quarter results highlight the transformative impact our platform is making in freight digitalization,” said Zvi Schreiber, CEO of Freightos (CRGO). “We saw impressive growth in transaction volumes, driven by our expanding network of engaged buyers and sellers. The addition of Shipsta has further strengthened our solution portfolio and our customer base of enterprise shippers. We continued releasing product features at a high rate including AI-powered features that leverage our significant industry traction. These innovations underscore the growing reliance of the industry on digital solutions to bring transparency, efficiency, and resilience to global freight, a shift in which Freightos plays a pivotal role.” “Our third-quarter results once again exceeded expectations across all key metrics,” said Ran Shalev, CFO of Freightos. “We’re pleased not only with our strong performance in transactions, Gross Booking Value, revenue, and adjusted EBITDA, but also with our ability to update guidance for the final quarter of 2024. We are increasing Adjusted EBITDA guidance and expecting that revenue will be towards the top end of previous guidance. This performance reflects our continued commitment to growth and efficiency, further reinforcing our path toward achieving positive Adjusted EBITDA by the end of 2026 on existing cash reserves.”