Welcome to our dedicated page for Freightos news (Ticker: CRGO), a resource for investors and traders seeking the latest updates and insights on Freightos stock.
Overview
Freightos Ltd (CRGO) is an innovative digital freight marketplace that transforms the international freight industry by providing a vendor-neutral platform for booking and payment solutions. Leveraging advanced SaaS technology, Freightos digitalizes the complex world of global logistics, offering transparent, efficient, and automated freight management across air, ocean, and multimodal shipping.
Comprehensive Freight Solutions
The company addresses critical inefficiencies in global trade by combining freight rates, fees, and surcharges into a unified, web-based operating system. Freightos' platform facilitates real-time procurement and booking of freight services, enabling importers, exporters, and freight forwarders to instantly compare, book, and manage shipments with ease. By integrating major carrier contracts directly, the platform ensures accurate and up-to-date pricing, thereby reducing administrative overhead and streamlining the entire logistics chain.
Technology and Innovation
At the core of Freightos' operations is a state-of-the-art SaaS solution that automates key processes such as contract management, rate quoting, and shipment tracking. The integration of advanced data analytics and AI-powered features further facilitates dynamic rate management and enhanced operational efficiency. This technology-driven approach not only empowers users to make informed decisions but also reinforces the company's commitment to digital transformation in the freight industry.
Market Position and Competitive Landscape
Freightos operates in a competitive global market dominated by the traditional freight brokerage and logistics management systems. However, its vendor-neutral stance and comprehensive digital platform distinguish it from legacy systems. By serving a diverse clientele that includes thousands of freight forwarders, carriers, and importers/exporters, the company has established itself as a critical node in the digitalization of the freight supply chain. Its ability to harness network effects—where increased participation by buyers attracts more sellers—positions Freightos as a pivotal player in the transformation of international trade mechanisms.
Business Model and Revenue Streams
The company generates revenue primarily through transaction fees on freight bookings processed via its digital platform. Additionally, it offers subscription-based SaaS solutions and data services that provide freight forwarders and carriers with tools for automation, pricing, and sales management. These dual revenue streams enable Freightos to capture value from both the volume of transactions and the underlying software solutions that facilitate these transactions, making its business model resilient and adaptable to market dynamics.
Operational Excellence and Global Reach
Freightos’ robust network extends across multiple geographies including North America, Europe, Hong Kong, and beyond. Its extensive carrier partnerships—spanning airlines, ocean carriers, and logistics providers—ensure a broad service offering and increased operational efficiency. The platform not only caters to standardized shipping routes but also supports niche and specialized freight services, thereby addressing a wide array of logistical needs in an ever-evolving global market.
Expertise and Industry Impact
Demonstrating a deep understanding of the freight industry, Freightos continuously refines its offerings to align with the trends of digitalization and automation. The platform’s ability to provide real-time industry data, including spot pricing indexes and freight rate benchmarks, reinforces its commitment to transparency and operational excellence. This expertise is critical in an industry that is historically slow to adopt digital innovations, yet faces increasing pressure to improve efficiency and resilience in the face of global trade complexities.
Summary
In summary, Freightos Ltd (CRGO) stands as a transformative force in the international freight industry, merging technology with deep industry insights to streamline global logistics. Its comprehensive digital marketplace, bolstered by cutting-edge SaaS solutions and real-time data analytics, offers a differentiated and efficient approach to freight management. The company’s emphasis on network effects, operational automation, and transparent pricing marks a significant evolution in how global supply chains are managed and optimized.
Air Europa has joined WebCargo by Freightos (NASDAQ: CRGO) cargo booking platform, expanding digital air cargo access across Spain-Latin America trade lanes. The partnership provides freight forwarders instant access to Air Europa's network of 15 domestic Spanish destinations and 40 international routes across Europe, North America, and Latin America.
Initial digital booking capabilities will focus on Spanish export routes connecting Madrid with Barcelona, Bilbao, Valencia to Air Europa's global network, with plans to add key international origins in Europe, Americas and Asia Pacific. The integration includes perishable cargo capacity from Latin America.
Air Europa joins other major airlines on the platform, which now represents nearly 70% of global air cargo capacity. The partnership offers freight forwarders benefits including real-time capacity and pricing visibility, streamlined booking processes, and enhanced route options through Madrid-Barajas Airport hub.
Freightos (NASDAQ: CRGO), a leading vendor-neutral digital booking and payment platform for the international freight industry, has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (SEC).
The annual report, which includes the company's audited financial statements, is accessible through the SEC's website and Freightos' investor relations website. Shareholders can request a free hard copy of the complete annual report by contacting the company's Investor Relations team.
Freightos (NASDAQ: CRGO) reported strong Q4 2024 results with revenue reaching $6.6 million, up 25% year-over-year, marking the highest growth rate since going public. Full-year 2024 revenue increased 17% to $23.8 million.
The company achieved its 20th consecutive quarter of record transactions, with Q4 transactions up 22% to 350,400. The number of carriers on the platform grew from 55 to 67 in Q4. Gross Booking Value surged 50% to $280.7 million in Q4, with full-year GBV reaching $894.0 million, up 33%.
Despite growth, Freightos reported an IFRS loss of $9.8 million in Q4 (including a one-time $3.0 million goodwill impairment) and full-year loss of $22.5 million. The company maintains $37.3 million in cash and expects to reach breakeven by end of 2026.
Freightos (CRGO) has launched the Freightos Index Linking Toolkit within its Terminal market intelligence solution, introducing dynamic contract pricing for freight rates. This innovative system automatically adjusts to market fluctuations, addressing common issues with fixed-price contracts such as renegotiations and cargo rolling.
The toolkit leverages the Freightos Baltic Index (FBX®) for container shipping and Freightos Air Index (FAX) for air cargo, both based on live transactional data. When combined with hedging via freight future agreements on the CME and SGX, this solution enables carriers, forwarders, and BCOs to reduce pricing exposure and improve efficiency.
Industry expert Bjorn Vang Jensen endorses the approach, noting that long-term stable rate contracts serve as effective hedges. The system aims to bring predictability to freight procurement while reducing the time spent on contract negotiations.
Freightos (NASDAQ: CRGO) has appointed Pablo Pinillos as Chief Financial Officer, effective March 1, 2025. Pinillos brings over 20 years of global leadership experience in finance, strategy, and operations, with expertise in scaling high-growth tech companies.
Most recently, Pinillos served as CFO at Coincover, a blockchain software company, and previously at Bitrise, a DevOps software company. He also spent nearly 14 years at Qlik in various senior leadership roles, including VP of Strategic Growth and Business Transformation, where he supported the company's IPO and subsequent private equity acquisition.
CEO Zvi Schreiber highlighted Pinillos's experience in financial strategy and scaling high-growth businesses as key factors in his appointment to help drive Freightos's mission of digitalizing the international freight industry.
Freightos (NASDAQ: CRGO) has announced the integration of CMA CGM AIR CARGO into its WebCargo and 7LFreight cargo booking platforms. The partnership enables freight forwarders to access real-time rates and eBook cargo on CMA CGM AIR CARGO's global network, specifically on key tradelanes connecting the United States, France, Italy, Spain, and Asia.
The collaboration, launched on January 30, aims to enhance supply chain flexibility and scalability in response to ongoing post-COVID disruptions. Through Freightos's platforms, CMA CGM AIR CARGO strengthens its commitment to meeting global shippers' needs by providing a seamless digital booking experience across major trade hubs in Europe, North America, and Asia.
Freightos (NASDAQ: CRGO) announced that Norwegian Cargo, in collaboration with Euro Cargo Aviation (ECA), has joined WebCargo by Freightos platform. This marks Norwegian Cargo's first digital booking platform integration, providing real-time eBooking capabilities to freight forwarders across its network of 40 European airports and international routes.
The initial rollout focuses on major UK hubs including London Gatwick (LGW), Manchester (MAN), and Edinburgh (EDI). The UK market has shown significant growth, with a 40% increase in booking volumes in Q3 2024 compared to the previous year. WebCargo now covers approximately 70% of global air cargo capacity, serving over 10,000 freight forwarder offices.
Freightos (NASDAQ: CRGO) announced that WestJet Cargo has joined its WebCargo and 7LFreight platforms, enabling freight forwarders to access real-time rates, make eBookings, and process payments online. The integration expands WebCargo's network on key routes from Calgary to major international hubs including Tokyo Narita, London Heathrow, and Paris Charles de Gaulle.
The collaboration provides digital access to WestJet Cargo's services for transporting general cargo, perishables, high-value goods, pharmaceuticals, and time-sensitive shipments across their network of over 100 destinations. Freightos reports a 22% year-over-year increase in transactions, now supporting approximately 350,000 transactions, indicating growing demand for digital logistics solutions.
Freightos (NASDAQ: CRGO) reported strong preliminary Q4 2024 results, marking its 20th consecutive quarter of record transactions. The company facilitated 350,400 transactions in Q4, a 22% year-over-year growth, exceeding management's expectations. The total Gross Booking Value (GBV) reached $280.5 million, showing a 50% year-over-year increase.
The company significantly expanded its carrier network to 67 carriers, up from 45 in Q4 2023, marking the strongest carrier growth in a single quarter. Unique buyer users grew 14% to approximately 20,100. For the full year 2024, Freightos recorded 1,301,500 transactions (27% YoY growth) and $894 million in GBV (33% YoY growth). The company plans to announce Q4 and FY 2024 financial results on February 24, 2025.
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.
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