Freightos Ltd - CRGO STOCK NEWS

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.

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.