Freightos Reports Record Transactions and Gross Booking Value for Third Quarter of 2024
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) ha riportato i risultati preliminari del terzo trimestre 2024, evidenziando una forte crescita nell'uso della piattaforma e nell'espansione della rete. I punti salienti includono:
- 339,1K transazioni, in aumento del 26% rispetto all'anno precedente, superando le previsioni di 323,5 - 332,5K
- Valore delle prenotazioni lordo (GBV) di 217,5 milioni di dollari, un aumento del 35% anno su anno, oltrepassando le aspettative di 198,0 - 203,5 milioni di dollari
- Rete di vettori ampliata a 55 vettori, rispetto ai 39 nel terzo trimestre del 2023
- Crescita del 14% anno su anno negli utenti acquirenti unici, raggiungendo circa 19.700
Il CEO di Freightos, Zvi Schreiber, ha enfatizzato il ruolo cruciale della piattaforma nella trasformazione digitale dell'industria dei trasporti. L'azienda riporterà i risultati finanziari completi del terzo trimestre 2024 il 25 novembre 2024, prima dell'apertura dei mercati, seguiti da una webconferenza e una chiamata di conferenza alle 8:30 a.m. EST.
Freightos (NASDAQ: CRGO) reportó resultados preliminares del tercer trimestre de 2024, mostrando un fuerte crecimiento en el uso de la plataforma y la expansión de la red. Los aspectos destacados incluyen:
- 339,1K transacciones, un aumento del 26% interanual, superando la guía de 323,5 - 332,5K
- Valor Bruto de Reservas (GBV) de $217,5 millones, un aumento del 35% interanual, excediendo las expectativas de $198,0 - 203,5 millones
- Red de transportistas ampliada a 55 transportistas, en comparación con 39 en el tercer trimestre de 2023
- Crecimiento del 14% interanual en usuarios compradores únicos, alcanzando aproximadamente 19,700
El CEO de Freightos, Zvi Schreiber, destacó el papel crítico de la plataforma en la transformación digital de la industria del transporte. La compañía reportará los resultados financieros completos del tercer trimestre de 2024 el 25 de noviembre de 2024, antes de la apertura del mercado, seguido de un webcast y una llamada de conferencia a las 8:30 a.m. EST.
Freightos (NASDAQ: CRGO)는 2024년 3분기 예비 결과를 발표하며 플랫폼 사용 및 네트워크 확장에서 강력한 성장을 보여주었습니다. 주요 하이라이트는 다음과 같습니다:
- 339,1K 거래, 전년 대비 26% 증가하여 323,5 - 332,5K의 예상치를 초과했습니다.
- 총 예약 가치(GBV) 2억 1,750만 달러, 전년 대비 35% 증가하여 1억 9,800만 - 2억 3,350만 달러의 기대를 초과했습니다.
- 55개 운송업체로 운송업체 네트워크를 확장하여 2023년 3분기 39개에서 증가했습니다.
- 연간 14% 성장하여 고유 구매자 사용자 수가 약 19,700명에 도달했습니다.
Freightos의 CEO인 Zvi Schreiber는 플랫폼이 화물 산업의 디지털 혁신에서 중요한 역할을 하고 있음을 강조했습니다. 회사는 2024년 11월 25일 오전 8시 30분 EST에 시장 개장 전에 2024년 3분기 전체 재무 결과를 발표할 예정이며, 이후 웹캐스트와 컨퍼런스 콜이 진행됩니다.
Freightos (NASDAQ: CRGO) a annoncé des résultats préliminaires pour le troisième trimestre 2024, montrant une forte croissance de l'utilisation de la plateforme et de l'expansion du réseau. Les points clés incluent :
- 339,1K transactions, en hausse de 26 % par rapport à l'année précédente, dépassant les prévisions de 323,5 - 332,5K
- Valeur Brute des Réservations (GBV) de 217,5 millions de dollars, une augmentation de 35 % par rapport à l'année précédente, dépassant les attentes de 198,0 - 203,5 millions de dollars
- Réseau de transporteurs élargi à 55 transporteurs, contre 39 au troisième trimestre 2023
- Croissance de 14 % par rapport à l'année précédente des utilisateurs acheteurs uniques, atteignant environ 19 700
Le PDG de Freightos, Zvi Schreiber, a souligné le rôle clé de la plateforme dans la transformation numérique de l'industrie du fret. L'entreprise publiera les résultats financiers complets du troisième trimestre 2024 le 25 novembre 2024, avant l'ouverture des marchés, suivi d'un webcast et d'une conférence téléphonique à 8h30 EST.
Freightos (NASDAQ: CRGO) hat vorläufige Ergebnisse für das 3. Quartal 2024 veröffentlicht, die ein starkes Wachstum der Plattformnutzung und der Netzwerkexpansion zeigen. Die wichtigsten Punkte umfassen:
- 339,1K Transaktionen, was einem Anstieg von 26% im Vergleich zum Vorjahr entspricht und die Prognose von 323,5 - 332,5K übertrifft
- Bruttobuchungswert (GBV) von 217,5 Millionen US-Dollar, ein Anstieg von 35% im Jahresvergleich, der die Erwartungen von 198,0 - 203,5 Millionen US-Dollar übertrifft
- Erweitertes Netzwerk von 55 Anbietern, verglichen mit 39 im 3. Quartal 2023
- Jährliches Wachstum von 14% bei einzigartigen Käufern, was etwa 19.700 entspricht
Der CEO von Freightos, Zvi Schreiber, betonte die wichtige Rolle der Plattform bei der digitalen Transformation der Frachtbranche. Das Unternehmen wird die vollständigen Finanzzahlen für das 3. Quartal 2024 am 25. November 2024 vor Markteröffnung bekannt geben, gefolgt von einem Webcast und einer Telefonkonferenz um 8:30 Uhr EST.
- Record 339.1K transactions in Q3 2024, representing 26% year-over-year growth
- Gross Booking Value (GBV) reached $217.5M, a 35% year-over-year increase
- Carrier network expanded to 55 carriers, up from 39 in Q3 2023
- 14% year-on-year growth in unique buyer users, reaching approximately 19,700
- 19th consecutive quarter of record Transactions
- None.
Insights
The preliminary Q3 2024 results from Freightos show strong growth across key metrics, surpassing management's guidance. Transactions increased 26% year-over-year to 339,100, exceeding the expected range of 323,500 - 332,500. More impressively, Gross Booking Value (GBV) grew 35% to
This outperformance demonstrates accelerating adoption of Freightos' digital freight marketplace. The expansion to 55 carriers (up from 39 last year) and 14% growth in unique buyers to 19,700 highlight strong network effects. As more participants join the platform, it becomes increasingly valuable to both buyers and sellers.
For investors, these results indicate Freightos is gaining traction in digitalizing the fragmented freight industry. The company's ability to exceed growth expectations in a challenging macro environment is particularly noteworthy. However, profitability metrics and cash flow details will be important to assess in the full earnings report on November 25th.
Freightos' Q3 performance underscores the accelerating digitalization trend in the freight industry. The 26% year-over-year growth in transactions indicates strong adoption among freight forwarders, importers and exporters. This suggests a shift away from traditional, manual booking processes towards more efficient digital solutions.
The expansion of the carrier network to 55, up from 39 last year, is particularly significant. It increases the platform's value proposition by offering users more options and potentially better rates through increased competition. The 14% growth in unique buyers further reinforces the network effects at play.
The 35% increase in Gross Booking Value (GBV) to
While these KPIs are impressive, it's important to note that the broader freight market has been volatile. Freightos' ability to grow significantly in this environment speaks to the resilience of its business model and the increasing importance of digital solutions in logistics.
The Company Plans To Report Earnings on November 25, 2024
Actuals*
| Management's Expectations | |
Q3 2024 | Q3 2024 | |
# Transactions ('000) | 339.1 | 323.5 - 332.5 |
Year over-Year Growth | 26 % | |
GBV ($m) | 217.5 | 198.0 - 203.5 |
Year over-Year Growth | 35 % |
*Numbers are preliminary and subject to change with the full earnings release
Platform Expansion and Network Growth
Freightos continued to strengthen its digital freight marketplace in Q3 2024, facilitating increased transactions and expanding its global buyer and seller network.
- Transactions: Freightos facilitated 339.1K transactions in Q3 2024, representing a
26% year-over-year growth. This surpassed management's guidance of 323.5 - 332.5K, demonstrating the continued adoption of Freightos' platform by freight forwarders, importers, exporters, and carriers globally. - Carrier and Buyer Growth: Freightos expanded its carrier network to 55 carriers, up from 39 in Q3 2023. The number of unique buyer users on the platform also grew by
14% year-on-year, reaching approximately 19,700 by the end of the quarter. - Gross Booking Value (GBV): The total value of transactions processed on the Freightos platform, or GBV, reached
$217.5M 35% year-over-year increase, significantly exceeding the anticipated range of$198.0
"The KPIs we delivered this quarter reflect not only the continued growth of our platform, but also the critical role digital solutions are playing in the transformation of the freight industry," said Zvi Schreiber, CEO of Freightos. "As more buyers and sellers join the platform and transaction volumes rise, we see clear network effects driving further engagement. At the same time, our SaaS solutions are tightly integrated with the platform, enhancing the value we deliver to customers. These efforts are not just about financial growth - they are essential to supporting the broader digitalization of global freight, helping our industry become more efficient, transparent, and connected with the Freightos platform playing a fundamental role."
Q3 2024 Earnings Call
Financial results for the third quarter of 2024 and outlook for the fourth quarter will be reported before markets open on November 25, 2024. Freightos' management will host a webcast and conference call to discuss the results that morning at 8:30 a.m. EST.
Information about Freightos' financial results, including a link to the live webcast, will be available on Freightos' investor relations website at https://www.freightos.com/investor-news/.
To participate in the call, please register at the following link:
https://freightos.zoom.us/webinar/register/WN_1KFr9f-1TRmTzd3wVW4GKw
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 call's transcript, will be available on Freightos' Investor Relations website following the call.
Glossary
We have provided below a glossary of certain terms used in this press release:
- Carriers: Number of unique air and ocean carriers, mostly airlines, that 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: 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: 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. Sellers of Transactions include Carriers (that is, airlines, ocean liners and LCL consolidators) and also other providers of freight services such as trucking companies, freight forwarders, general sales agents, and air master loaders. The number of transactions booked on the Freightos platform in any given time period is net of transactions that were canceled prior to the end of the period. Transactions booked on white label portals hosted by Freightos are included if there is a transactional fee associated with them.
About Freightos
Freightos® (NASDAQ: CRGO) is the leading vendor-neutral global freight booking platform. Airlines, ocean carriers, thousands of freight forwarders, and well over ten thousand importers and exporters connect on Freightos, making world trade faster, more efficient and more resilient.
The Freightos platform digitizes the trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments for global businesses of all shapes and sizes. Products include the Freightos Marketplace, WebCargo, WebCargo for Airlines, 7LFreight by WebCargo, Shipsta by Freightos, and Clearit.
Freightos is a leading provider of real-time industry data via Freightos Terminal, which includes the world's leading spot pricing indexes, Freightos Air Index (FAX) for air cargo and Freightos Baltic Index (FBX) for container shipping.
More information is available at freightos.com/investors.
Contacts
Media:
Tali Aronsky
press@freightos.com
Investors:
Anat Earon-Heilborn
ir@freightos.com
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SOURCE Freightos
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