Freightos Reports Fourth Quarter and Full-Year Results with Substantial Transaction Growth and Strong Financial Position
- None.
- None.
Insights
The reported 53% growth in transactions is a strong indicator of Freightos' marketplace expansion. This reflects a positive trend in user adoption and increased demand for digital solutions in the freight industry. The year-end cash balance of $52 million provides the company with a solid foundation to support ongoing growth and innovation. This is particularly important for tech-driven platforms, as they need to continuously evolve to meet the ever-changing demands of the logistics sector.
From a market perspective, the ability to exceed or meet key performance indicators suggests operational efficiency and a clear strategic direction. Investors should note that this level of performance in a challenging industry environment may signal a competitive advantage for Freightos, potentially leading to increased investor confidence and stock valuation.
Freightos' financial results indicate a strategic balance between growth and cost management, which is crucial for a company in its early stages of being publicly traded. The emphasis on progressing towards profitability while maintaining a healthy financial position is reassuring for stakeholders. It is an indication that the company is not just focusing on top-line growth but is also mindful of its burn rate and the path to profitability.
Investors should consider the implications of Freightos' financial strategy for long-term value creation. The company's aim to scale transactions and revenue efficiently while reducing cash burn could lead to sustainable growth, which is often rewarded by the market with a higher price-to-earnings ratio. However, the actual impact on the stock price will depend on Freightos' ability to execute its strategy and the broader market conditions.
The digitalization of the freight industry is a critical trend and Freightos' platform is at the forefront of this transformation. The milestone of powering over a million transactions signifies a substantial market penetration and user trust. For industry stakeholders, this growth in transactions is a proxy for the platform's reliability and effectiveness.
Freightos' focus on streamlining operations for carriers, forwarders and importers or exporters aligns with the broader industry's need for efficiency and transparency. The company's success in this area could lead to wider adoption of digital booking and payment platforms, which would be a significant shift from the traditional, more manual processes that have historically dominated the industry.
- Full-year #Transactions growth of
53% showcases robust marketplace expansion - Year-end cash balance of
$52 million - Exceeded or met expectations across all key performance indicators for the quarter and the year
"As we reflect on our first year as a public company - a year marked by significant challenges for the freight industry - Freightos not only demonstrated remarkable resilience, but also achieved a significant milestone in the growth of our platform, powering over a million transactions in 2023. This pivotal year has solidified our position as a leading platform for international freight, highlighting how our relentless drive to digitalize the industry delivers exceptional value to our customers. I want to take this opportunity to thank our talented team, which is focused on continually advancing our offerings to streamline operations for our carrier, forwarder and importer or exporter customers," said Zvi Schreiber, CEO of Freightos. "Celebrating one year of public company transparency and accountability, Freightos is more dedicated than ever to our mission of delivering smoother shipping to improve trade between the people of the world."
"The past year has shown solid growth and solid progress towards profitability, illustrating our strategic balance between fostering growth and managing costs, while maintaining a healthy financial position," said Ran Shalev, CFO of Freightos. "As we enter 2024, we aim to efficiently scale transactions and revenue, while further reducing our cash burn. Our long-term financial strategy is about establishing our platform as a standard in the digital international freight market."
Fourth Quarter 2023 financial highlights
- Revenue of
$5.3 million 8% compared to the fourth quarter of 2022. - IFRS Gross Margin of
62.2% , up from59.2% in the fourth quarter of 2022. Non-IFRS Gross Margin of70.0% , up from65.8% for the fourth quarter of 2022. - IFRS operating loss of
$4.6 million $8.9 million - Adjusted EBITDA of negative
$3.8 million $4.4 million
Full Year 2023 financial highlights
- Revenue of
$20.3 million 6% compared to 2022. - IFRS Gross Margin of
58.2% in 2023, compared with58.8% in 2022. Non-IFRS Gross Margin of67.4% , up from65.2% in 2022. - IFRS operating loss of
$77.8 million $46.7 million $24.3 million - Adjusted EBITDA of negative
$19.0 million $14.6 million - Cash and cash equivalents and short term deposits and investments balance at the end of December 2023 of
$51.7 million
Recent business highlights
- #Transactions Growth: Freightos achieved a record 287 thousand Transactions in the fourth quarter of 2023, up
36% year over year, concluding the year with 1 million and 25 thousand Transactions. This was a significant outperformance compared to overall international freight market volumes, which remained modest. Both global air cargo volumes based on IATA data and global ocean container shipping volumes according to Container Trades Statistics were up only7% from the fourth quarter of 2022.. - Gross Booking Value Growth: Gross Booking Value (GBV) was
$187.5 million 10% compared to the fourth quarter of 2022, reflecting strong Transactions growth, offset, in part, by lower average freight prices. While disruption to shipping in the Red Sea did drive a rate increase, this only came in the final days of the year. - Unique Buyer Users: The number of unique buyer users digitally booking freight services across the Freightos Platform grew by
12% compared to the fourth quarter of 2022, reaching 17.6 thousand. - Revenue Growth: Revenue of
$5.3 million $1.9 million 1% from the fourth quarter of 2022, and Solutions revenue was$3.4 million 13% year over year. - Carrier Growth: The number of carriers selling on the Platform, primarily on WebCargo, increased to 45 as of the end of the fourth quarter of 2023. Among these carriers are Japan Airlines and a leading North American airline. Additional new airlines signed to join the WebCargo platform in the fourth quarter, including two top-20 air cargo carriers. In addition, the Company signed its largest SaaS contract ever with another top-20 carrier that relies on Freightos for its cargo portal.
Financial outlook
Management Expectations | ||
Q1 2024 | FY 2024 | |
# Transactions | 280,500 - 288,000 | 1,286,500 - 1,376,000 |
Year over Year Growth | ||
GBV ($m) | ||
Year over Year Growth | (0)% - | |
Revenue ($m) | ||
Year over Year Growth | ||
Adjusted EBITDA ($m) | ||
This outlook assumes freight price levels and freight volumes as of January 31, 2024
Earnings Webcast
Freightos' management will host a webcast and conference call to discuss the results today, February 26, 2024 at 8:30 a.m. EST. The call will include presentation of a general model for long term growth during 2025-2030, as well as an analysis of the current freight market using Freightos Terminal data.
To participate in the call, please register at the following link:
https://freightos.zoom.us/webinar/register/WN_2GO5J16IQNiw3KBf9-Befw
Following registration, you will be sent the link to the conference call which is accessible either via the Zoom app, or alternatively from a dial-in telephone number.
Questions may be submitted in advance to ir@freightos.com or via Zoom during the call.
A replay of the webcast, as well as the conference call transcript, will be available on Freightos' Investor Relations website following the call.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which include the financial outlook of Freightos, are based on various assumptions, whether or not identified in this press release, and on the current expectations of Freightos, and are not predictions of actual performance. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Freightos. These forward-looking statements are subject to a number of risks and uncertainties, including the ongoing military conflict in the
Financial Information; Non-IFRS Financial Measures
While certain financial figures included in this press release have been computed in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, this press release does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" nor a financial statement as defined by International Accounting Standards 1 "Presentation of Financial Statements". Not all of the financial information in this press release has been audited.
This press release includes certain financial measures not presented in accordance with generally accepted accounting principles of the IFRS including, but not limited to, Adjusted EBITDA. These non-IFRS measures differ from the most directly comparable measures determined under IFRS. For the historical non-IFRS results included herein, we have provided tables at the end of this press release providing a reconciliation of those results to our results achieved under the most directly comparable IFRS measures. For the forward-looking non-IFRS data included under "Financial outlook", we have not included such a reconciliation, because the reconciliation of forward-looking data cannot be prepared without unreasonable effort. Our results and forecasts expressed as non-IFRS measures should not be considered in isolation or as an alternative to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under IFRS. You should be aware that the presentation of these measures may not be comparable to similarly-titled measures used by other companies. Freightos believes that Adjusted EBITDA and other non-IFRS measures provide useful information to investors and others in understanding and evaluating Freightos' operating results because they provide supplemental measures of our core operating performance and offer consistency and comparability with both our own past financial performance and with corresponding financial information provided by peer companies. Certain monetary amounts, percentages and other figures included in this press release have been subject to rounding adjustments, and therefore may not sum due to rounding.
Definitions
- Carriers: Number of unique air and ocean carriers who have been sellers of transactions. For airlines, we count booking carriers, which include separate airlines within the same carrier group. We do not count dozens of other airlines that operate individual segments of air cargo transactions, as we do not have a direct booking relationship with them. Carriers include ocean less-than-container load (LCL) consolidators. In addition, we only count carriers when more than five bookings were placed with them over the course of a quarter.
- Unique buyer users: Unique buyer users represent the number of individual users placing bookings, typically counted based on unique email logins. The number of buyers, which counts unique customer businesses, does not reflect the fact that some buyers are large multinational organizations while others are small or midsize businesses. Therefore, we find it more useful to monitor the number of unique buyer users than the number of buyer businesses.
- GBV: GBV represents the total value of transactions on the Freightos platform, which is the monetary value of freight and related services contracted between buyers and sellers on the Freightos platform, plus related fees charged to buyers and sellers, and pass-through payments such as duties. GBV is converted to
U.S. dollars at the time of each transaction on the Freightos platform. This metric may be similar to what others call gross merchandise value (GMV) or gross services volume (GSV). We believe that this metric reflects the scale of the Freightos platform and our opportunities to generate platform revenue. - #Transactions: Number of bookings for freight services, and related services, placed by buyers across the Freightos platform with third-party sellers and with Clearit. Beginning in the third quarter of 2022, #Transactions includes trucking bookings, which were added to the Freightos platform following the acquisition of 7LFreight. The number of transactions booked on the Freightos platform in any given time period is net of transactions canceled during the same time period.
- Adjusted EBITDA: Adjusted EBITDA represents net loss before income taxes, finance income, finance expense, share-based compensation expense, depreciation and amortization, changes in the fair value of contingent consideration, operating expense settled by issuance of shares, redomicile costs, share listing expense, change in fair value of warrants, transaction-related costs, non-recurring expenses associated with the business combination with Gesher I Acquisition Corp and reorganization expenses.
- Platform revenue: Platform revenue reflects fees charged to buyers and sellers in relation to transactions executed on the Freightos platform. For bookings conducted by importers/exporters, our fees are typically structured as a percentage of booking value, depending on the mode and nature of the service. When freight forwarders book with carriers, the sellers often pay a pre-negotiated flat fee per transaction. When sellers transact with a buyer who is a new customer to the seller, we may charge a percentage of the booking value as a fee.
- Solutions revenue: Solutions revenue is primarily subscription-based SaaS and data. It is typically priced per user or per site, per time period, with larger customers such as multinational freight forwarders often negotiating flat, all- inclusive subscriptions. Revenue from our Solutions segment includes certain non-recurring revenue from services ancillary to our SaaS products, such as engineering, customization, configuration and go-live fees, and data services for digitizing offline data.
Contacts
Media:
Tali Aronsky
press@freightos.com
Investors:
Anat Earon-Heilborn
ir@freightos.com
About Freightos Limited
Freightos® operates a leading, vendor-neutral booking and payment platform for international freight. Freightos' platform supports supply chain efficiency and agility by enabling real-time procurement of ocean and air shipping across more than ten thousand importers/exporters, thousands of forwarders, and dozens of airlines and ocean carriers.
Freightos.com is a premier digital international freight marketplace for importers and exporters for instant pricing, booking, and shipment management. Thousands of SMBs and enterprises have sourced shipping services via Freightos across dozens of logistics service providers.
WebCargo® by Freightos is a leading global freight platform connecting carriers and forwarders. In particular, it is the largest air cargo eBooking platform, enabling simple and efficient freight pricing and booking between thousands of freight forwarders, including the top twenty global freight forwarders, and hundreds of airlines, ocean liners and trucking carriers. Airlines on the platform represent over a third of global air cargo capacity. WebCargo also offers software as a service for forwarders to facilitate digital freight rate management, quoting, and online sales.
Freightos Data calculates the Freightos Baltic Index, the industry's key daily benchmark of container shipping prices, the Freightos Air Index, as well as other market intelligence products that improve supply chain decision-making, planning, and pricing transparency.
Freightos is a widely recognized logistics technology leader with a worldwide presence and a broad customer network. Incorporated in the
CONSOLIDATED BALANCE SHEETS | ||
(In thousands) | ||
December 31, | December 31, | |
(unaudited) | (audited) | |
Assets | ||
Current Assets: | ||
Cash and cash equivalents | $ 20,165 | $ 6,492 |
User funds | 3,553 | 3,328 |
Trade receivables, net | 1,880 | 1,936 |
Short-term bank deposit | 20,000 | - |
Short-term investments | 11,520 | - |
Other receivables and prepaid expenses | 2,598 | 1,215 |
59,716 | 12,971 | |
Non-current Assets: | ||
Property and equipment, net | 583 | 767 |
Right-of-use assets, net | 1,577 | 1,384 |
Intangible assets, net | 7,607 | 9,465 |
Goodwill | 15,628 | 15,628 |
Deferred taxes | 969 | 573 |
Other long-term assets | 1,605 | 1,018 |
27,969 | 28,835 | |
Total assets | $ 87,685 | $ 41,806 |
Liabilities and Equity | ||
Current liabilities: | ||
Short-term bank loan and credit | $ - | $ 2,505 |
Trade payables | 3,113 | 3,234 |
User accounts | 3,553 | 3,328 |
Current maturity of lease liabilities | 587 | 613 |
Accrued expenses and other payables | 4,931 | 7,400 |
12,184 | 17,080 | |
Long Term Liabilities: | ||
Lease liabilities | 712 | 395 |
Employee benefit liabilities, net | 1,256 | 1,294 |
Warrants liability | 1,485 | - |
Other long-term liabilities | 6 | 1,377 |
3,459 | 3,066 | |
Equity: | ||
Share capital | *) | *) |
Share premium | 256,194 | 140,229 |
Reserve from remeasurement of defined benefit plans | 27 | 137 |
Accumulated deficit | (184,179) | (118,706) |
Total equity | 72,042 | 21,660 |
Total liabilities and equity | $ 87,685 | $ 41,806 |
*) Represents an amount lower than | ||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
(in thousands, except share and per share data) | ||||
Three Months Ended | Twelve Months Ended | |||
December 31, | December 31, | |||
2023 | 2022 | 2023 | 2022 | |
(unaudited) | (unaudited) | (audited) | ||
Revenue | $ 5,258 | $ 4,849 | $ 20,281 | $ 19,085 |
Cost of revenue | 1,986 | 1,978 | 8,479 | 7,859 |
Gross profit | 3,272 | 2,871 | 11,802 | 11,226 |
Operating expenses: | ||||
Research and development | 2,501 | 2,572 | 11,507 | 10,217 |
Selling and marketing | 3,359 | 5,411 | 14,384 | 12,749 |
General and administrative | 2,054 | 2,448 | 12,407 | 9,645 |
Reorganization | - | - | 884 | - |
Transaction-related costs | - | 1,334 | 3,703 | 2,887 |
Share listing expense (1) | - | - | 46,717 | - |
Total operating expenses | 7,914 | 11,765 | 89,602 | 35,498 |
Operating loss | (4,642) | (8,894) | (77,800) | (24,272) |
Change in fair value of warrants | 459 | - | 9,440 | - |
Finance income | 822 | 73 | 3,189 | 194 |
Finance expenses | (100) | (194) | (387) | (454) |
Financing income (expenses), net | 722 | (121) | 2,802 | (260) |
Loss before taxes on income | (3,461) | (9,015) | (65,558) | (24,532) |
Income taxes (tax benefit) | (146) | 78 | (85) | 169 |
Loss | $ (3,315) | $ (9,093) | $ (65,473) | |
Other comprehensive income (net of tax effect): | ||||
Remeasurement gain (loss) from defined benefit plans | (110) | 44 | (110) | 269 |
Total components that will not be reclassified subsequently to profit or loss | (110) | 44 | (110) | 269 |
Total comprehensive loss | $ (3,425) | $ (9,049) | $ (65,583) | |
Basic and diluted loss per Ordinary share | $ (0.07) | $ (1.40) | $ (1.47) | $ (4.25) |
Weighted average number of shares outstanding used | 47,787,112 | 8,180,483 | 44,907,105 | 7,930,928 |
(1) Represents non-recurring, non-cash share-based listing expense incurred in connection with the business | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) | ||||
Three Months Ended | Twelve Months Ended | |||
December 31, | December 31, | |||
2023 | 2022 | 2023 | 2022 | |
(unaudited) | (unaudited) | (audited) | ||
Cash flows from operating activities: | ||||
Loss | $ (9,093) | $ (65,473) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Adjustments to profit or loss items: | ||||
Depreciation and amortization | 710 | 644 | 2,791 | 2,413 |
Operating expense settled by issuance of shares | 136 | 2,621 | 320 | 2,621 |
Share listing expense | - | - | 46,717 | - |
Change in fair value of warrants | (459) | - | (9,440) | - |
Changes in the fair value of contingent consideration | (924) | (812) | (1,718) | (1,037) |
Share-based compensation | 923 | 539 | 5,426 | 1,906 |
Finance expenses (income), net | (739) | (1) | (2,667) | 362 |
Income taxes (tax benefit) | (146) | 78 | (85) | 169 |
(499) | 3,069 | 41,344 | 6,434 | |
Changes in asset and liability items: | ||||
Decrease (increase) in user funds | 1,187 | 2,604 | (209) | 5,841 |
Increase (decrease) in user accounts | (1,187) | (2,604) | 209 | (5,841) |
Decrease (increase) in other receivables and prepaid expenses | 427 | 150 | 91 | (142) |
Decrease in trade receivables | 480 | 317 | 143 | 58 |
Increase (decrease) in trade payables | (240) | 104 | (176) | 1,783 |
Increase (decrease) in accrued severance pay, net | 76 | 109 | (140) | 187 |
Increase other long-term assets | - | (5) | - | (5) |
Increase (decrease) in accrued expenses and other payables | (315) | 253 | (3,711) | 1,807 |
428 | 928 | (3,793) | 3,688 | |
Cash received (paid) during the year for: | ||||
Interest received (paid), net | 733 | (18) | 1,256 | (162) |
Taxes paid, net | (339) | (58) | (430) | (167) |
394 | (76) | 826 | (329) | |
Net cash used in operating activities | (2,992) | (5,172) | (27,096) | (14,908) |
Cash flows from investing activities: | ||||
Purchase of property and equipment | (6) | (38) | (80) | (251) |
Proceeds from sale of property and equipment | - | 4 | 8 | 5 |
Acquisition of a subsidiary, net of cash acquired (a) | - | - | - | (4,183) |
Payment of payables for previous acquisition of a subsidiary | (75) | - | (211) | (156) |
Proceeds from receivables for previous acquisition of a subsidiary | - | 163 | - | 163 |
Investment in long-term assets | - | - | (374) | (353) |
Withdrawal of a deposit | 15 | 141 | 16 | - |
Withdrawal of (investment in) short term investments, net | 18,150 | - | (11,520) | - |
Investment in short-term bank deposit | - | (200) | (20,000) | (200) |
Net cash provided by (used in) investing activities | 18,084 | 70 | (32,161) | (4,975) |
Cash flows from financing activities: | ||||
Proceeds from the issuance of share capital and warrants net of | - | - | 76,044 | - |
Repayment of lease liabilities | (176) | (240) | (549) | (688) |
Receipt from a bank loan and credit | - | 2,505 | - | 2,505 |
Repayment of short-term bank loan and credit | - | - | (2,504) | - |
Exercise of options | 135 | 20 | 186 | 73 |
Net cash provided by (used in) financing activities | (41) | 2,285 | 73,177 | 1,890 |
Exchange differences on balances of cash and cash equivalents | 38 | (44) | (247) | (594) |
Increase (decrease) in cash and cash equivalents | 15,089 | (2,861) | 13,673 | (18,587) |
Cash and cash equivalents at the beginning of the period | 5,076 | 9,353 | 6,492 | 25,079 |
Cash and cash equivalents at the end of the period | $ 6,492 | $ 20,165 | $ 6,492 | |
(a) Acquisition of an initially consolidated subsidiary: | ||||
Working capital (excluding cash and cash equivalents) | $ - | $ - | $ - | $ (992) |
Other receivables | - | - | - | 163 |
Property and equipment | - | - | - | 12 |
Intangible assets | - | - | - | 5,734 |
Goodwill | - | - | - | 7,607 |
Shares issued | - | - | - | (6,573) |
Contingent consideration | - | - | - | (1,768) |
Acquisition of a subsidiary, net of cash acquired | $ - | $ - | $ - | $ 4,183 |
(b) Significant non-cash transactions: | ||||
Right-of-use asset recognized with corresponding lease liability | $ 613 | $ - | $ 852 | $ 74 |
Issuance of shares for previous acquisition of a subsidiary | $ 58 | $ - | $ 171 | $ - |
RECONCILIATION OF IFRS TO NON-IFRS GROSS PROFIT AND GROSS MARGIN | ||||
(in thousands, except gross margin data) | ||||
Three Months Ended | Twelve Months Ended | |||
December 31 | December 31 | |||
2023 | 2022 | 2023 | 2022 | |
(unaudited) | (unaudited) | |||
IFRS gross profit | $ 3,272 | $ 2,871 | $ 11,802 | $ 11,226 |
Add: | ||||
Share-based compensation | 101 | 81 | 692 | 290 |
Depreciation & Amortization | 309 | 237 | 1,180 | 920 |
Non-IFRS gross profit | $ 3,682 | $ 3,189 | $ 13,674 | $ 12,436 |
IFRS gross margin | 62.2 % | 59.2 % | 58.2 % | 58.8 % |
Non-IFRS gross margin | 70.0 % | 65.8 % | 67.4 % | 65.2 % |
RECONCILIATION OF IFRS OPERATING LOSS TO ADJUSTED EBITDA | ||||
(in thousands) | ||||
Three Months Ended | Twelve Months Ended | |||
December 31 | December 31 | |||
2023 | 2022 | 2023 | 2022 | |
(unaudited) | (unaudited) | |||
Operating loss | $ (8,894) | |||
Add: | ||||
Share-based compensation | 923 | 539 | 5,426 | 1,906 |
Depreciation & Amortization | 710 | 644 | 2,791 | 2,413 |
Share listing expense | - | - | 46,717 | - |
Non-recurring expenses | - | - | 499 | - |
Redomicile costs | - | 109 | - | 734 |
Transaction-related costs | - | 1,334 | 3,703 | 2,887 |
Changes in the fair value of contingent consideration | (941) | (710) | (1,583) | (935) |
Reorganization | - | - | 884 | - |
Operating expense settled by issuance of shares | 136 | 2,621 | 320 | 2,621 |
Adjusted EBITDA | $ (3,814) | $ (4,357) | $ (14,646) | |
Adjusted EBITDA margins | -72.5 % | -89.9 % | -93.9 % | -76.7 % |
RECONCILIATION OF IFRS LOSS TO NON-IFRS LOSS AND LOSS PER SHARE | ||||
(in thousands, except share and per share data) | ||||
Three Months Ended | Twelve Months Ended | |||
December 31 | December 31 | |||
2023 | 2022 | 2023 | 2022 | |
(unaudited) | (unaudited) | |||
IFRS loss attributable to ordinary shareholders | $ (3,315) | $ (9,093) | $ (65,473) | $ (24,701) |
Add: | ||||
Share-based compensation | 923 | 539 | 5,426 | 1,906 |
Depreciation & Amortization | 710 | 644 | 2,791 | 2,413 |
Share listing expense | - | - | 46,717 | - |
Non-recurring expenses | - | - | 499 | - |
Redomicile costs | - | 109 | - | 734 |
Transaction-related costs | - | 1,334 | 3,703 | 2,887 |
Changes in the fair value of contingent consideration | (924) | (812) | (1,718) | (1,037) |
Reorganization | - | - | 884 | - |
Operating expense settled by issuance of shares | 136 | 2,621 | 320 | 2,621 |
Change in fair value of warrants | (459) | - | (9,440) | - |
Non IFRS loss | $ (2,929) | $ (4,658) | $ (16,291) | $ (15,177) |
Non IFRS basic and diluted loss per Ordinary share | $ (0.06) | $ (0.85) | $ (0.38) | $ (3.05) |
Weighted average number of shares outstanding used to compute basic | 47,787,112 | 8,180,483 | 44,907,105 | 7,930,928 |
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SOURCE Freightos
FAQ
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