Welcome to our dedicated page for Freightos Ordinary shares news (Ticker: CRGO), a resource for investors and traders seeking the latest updates and insights on Freightos Ordinary shares stock.
Freightos Limited Ordinary shares (symbol: CRGO) trade on the Nasdaq, representing a global leader in the international freight industry. Freightos offers a vendor-neutral, comprehensive booking and payment platform designed to streamline international shipping. By leveraging its software-as-a-service (SaaS) technology, Freightos enables freight forwarders and carriers to manage contracts, automate quotations, and handle the sales process directly through their own websites.
The company's flagship platform, WebCargo by Freightos, connects carriers and forwarders through an air cargo eBooking system, featuring partnerships with over 30 airlines and 3,500+ forwarders across 10,000 offices. This includes major airlines such as China Southern, American Airlines, and Lufthansa, which collectively represent a significant portion of global air cargo capacity.
Freightos also operates Freightos.com, an international freight marketplace offering instant pricing, booking, and shipment management. This platform supports the supply chain efficiency of over ten thousand importers, exporters, and forwarders, providing real-time procurement options for both ocean and air shipping.
In recent developments, Freightos has announced a series of strategic partnerships to enhance its service offering:
- Partnership with JALCARGO: This collaboration allows freight forwarders using WebCargo to eBook air cargo capacity with Japan Airlines, enhancing trade routes between Europe, Japan, and other Asian countries.
- Integration with Fits Cargo: Fits Cargo's air freight capacity is now available on WebCargo, extending its reach across global markets including Dubai, India, and Hong Kong.
- Collaboration with Singapore Airlines: This enables digital bookings for Asia-Pacific destinations, further strengthening Freightos' presence in the region.
- Expansion with United Cargo: United Cargo has joined WebCargo's digital booking platform, expanding service offerings in Europe, with plans to roll out to the U.S. and Canada.
- Partnership with Thai Airways: Thai Airways will offer real-time booking, pricing, and payments through WebCargo, enhancing digital access to its extensive air cargo network.
Financially, Freightos has reported strong performance in Q1 2024, with a 29% year-over-year growth in transactions and a 14% increase in Gross Booking Value. The platform's broad acceptance is evident through the rise in unique buyer users and the expanding carrier network.
Led by CEO Zvi Schreiber, Freightos is dedicated to digitalizing the freight industry, fostering greater efficiency, transparency, and cost-effectiveness in global shipping. The company's ongoing initiatives aim to sustain its growth trajectory and expand its market footprint, making international trade smoother and more reliable for businesses worldwide.
Swiss WorldCargo, SWISS's air freight division, has partnered with Freightos (NASDAQ: CRGO) to enhance digital booking capabilities. The collaboration enables booking of Swiss WorldCargo's products and services through WebCargo by Freightos in selected markets across Europe, Asia, and Americas.
Swiss WorldCargo operates across over 170 global destinations, specializing in high-value, care-intensive, and temperature-sensitive shipments. Through WebCargo's platform, which connects with more than 55 airlines and 370 air cargo carriers, forwarders can access real-time rates and capacity for services including SWISS General Cargo and SWISS Pharma and Healthcare, along with Celsius Passive temperature-sensitive shipping and X-Presso expedited transportation options.
Freightos (NASDAQ: CRGO) reported strong Q3 2024 results with revenue reaching $6.2 million, up 21% year-over-year. The company achieved record transactions of 339,100, a 26% increase, and Gross Booking Value of $217.5 million, up 35%. IFRS Gross Margin improved to 65.0% from 54.9%, while operating loss decreased to $4.9 million from $9.3 million. The company successfully integrated Shipsta, expanded carrier network to 55, and grew unique buyer users by 14% to 19,700. Management raised full-year guidance, expecting revenue at the higher end of previous range and improved Adjusted EBITDA, targeting positive figures by end of 2026.
Freightos (NASDAQ: CRGO) announced that CFO Ran Shalev will step down effective December 31, 2024, to pursue another role. Shalev, who served as CFO since 2016, will assist with operations and handover throughout Q1. During his tenure, he oversaw the company's financial operations, including its Nasdaq listing, strategic acquisitions, and growth in revenue and transaction volumes. The company is currently searching for a successor, with Shalev confirming he will remain a shareholder and support a smooth transition.
Freightos (NASDAQ: CRGO) has officially launched its integration with e2open, embedding WebCargo air cargo eBooking into e2open's Transportation Management System (TMS). The integration enables freight forwarders to access real-time air freight rates and make instant bookings directly within the TMS platform, eliminating manual processes and context switching. Crane Worldwide Logistics is among the global logistics providers testing the system, which aims to streamline operations and improve response time to client needs through automated, real-time access to rates and bookings.
Freightos (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for international freight, has announced its participation in the upcoming Sidoti November Virtual Investor Conference. Zvi Schreiber, Founder and CEO, along with CFO Ran Shalev, will present on November 13th at 9:15AM ET and host one-on-one meetings with investors during the conference on November 13-14, 2024. The presentation will be accessible via a live webinar link, and registration for both the presentation and one-on-one meetings is free and open to all investors and financial professionals through the Sidoti website.
Freightos (NASDAQ: CRGO) announces that Qantas Freight has joined its air cargo booking platform. The integration enables freight forwarders to search, compare and book capacity across Freightos' WebCargo and 7LFreight platforms for Qantas and Jetstar services between the US, Australia, and New Zealand. The network connects major US hubs (LAX, SFO, DFW, JFK) with Australian cities (Sydney, Melbourne, Brisbane). Forwarders can access instant rate quotes and bookings for ground and air providers, including LTL shipments, domestic US air cargo, and international air cargo on a single platform. WebCargo by Freightos now hosts 55 carriers, representing nearly 70% of global air cargo capacity.
Freightos (NASDAQ: CRGO) reported preliminary Q3 2024 results, showcasing strong growth in platform usage and network expansion. Key highlights include:
- 339.1K transactions, up 26% year-over-year, surpassing guidance of 323.5 - 332.5K
- Gross Booking Value (GBV) of $217.5M, a 35% year-over-year increase, exceeding expectations of $198.0 - 203.5M
- Expanded carrier network to 55 carriers, up from 39 in Q3 2023
- 14% year-on-year growth in unique buyer users, reaching approximately 19,700
Freightos CEO Zvi Schreiber emphasized the platform's critical role in the freight industry's digital transformation. The company will report full Q3 2024 financial results on November 25, 2024, before markets open, followed by a webcast and conference call at 8:30 a.m. EST.
Freightos (NASDAQ: CRGO), a leading digital booking and payment platform for international freight, announced its participation in the 17th annual LD Micro Main Event. CEO Dr. Zvi Schreiber will present on Tuesday, October 29th at 01:30 PM PT at the Luxe Sunset Boulevard Hotel in Los Angeles.
Schreiber highlighted Freightos' role in transforming global freight, noting over 1 million transactions on their platform in the last twelve months. The company aims to showcase its scalability and position as a critical player in the logistics ecosystem.
The LD Micro Main Event XVII, running from October 28th to 30th, will feature around 150 companies presenting to investors. Freightos' participation underscores its focus on extending its offering's reach and expanding monetization potential as digital adoption in the freight industry accelerates.
Freightos (NASDAQ: CRGO) has announced the addition of Hainan Airlines (HNA Cargo) to its WebCargo digital air cargo booking and payment platform. This collaboration expands capacity for forwarders in Asia Pacific and Europe. With HNA Cargo's inclusion, 3 out of China's 4 major air cargo carriers are now accessible on WebCargo, representing 65% of global capacity.
HNA Cargo operates over 600 aircraft across 11 airlines, covering more than 2,000 routes and serving over 300 cities worldwide. The integration will provide forwarders with access to HNA Cargo's extensive network, including direct routes into China and across the Asia Pacific region.
WebCargo's digital payment solution now supports transactions with HNA Cargo, allowing forwarders to book and pay for shipments through a single interface. HNA Cargo's capacity will initially launch in key North Asian and Southeast Asian markets, including Japan, Singapore, Vietnam, and Thailand.
Freightos (NASDAQ: CRGO) has announced the addition of Pacific Air Cargo to its WebCargo digital air cargo booking and payment platform. This collaboration expands WebCargo's capacity to include key routes from Los Angeles to Hawaii and the Pacific Islands, complementing recent advancements in domestic US air cargo capacity.
Pacific Air Cargo operates over 600 annual flights, transporting more than 100 million pounds of cargo annually. The airline offers shipping for diverse products and ad hoc charters for critical cargo. This integration will provide Pacific Air Cargo with greater exposure to a global network of forwarders, improved booking efficiency, and enhanced customer service capabilities. For WebCargo, it strengthens its position in the Hawaii and Pacific Islands markets, offering customers more options and better service reliability.
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