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.
Freightos Limited (Nasdaq: CRGO), a prominent vendor-neutral booking platform for the freight industry, reported record Q1 2023 performance metrics. The platform registered 229,211 transactions, surpassing expectations and achieving a year-over-year growth of 100%. Gross Booking Value (GBV) reached $168.7 million, exceeding management's projected range of $162-$165.3 million with a 34% year-over-year growth. Unique buyer users surged by 29% to 16,226, while the number of carriers rose by 19% to 37. This impressive growth was recorded despite seasonal industry weaknesses and overall market softness. Freightos plans to disclose full financial results and Q2 guidance at the end of May 2023.
Freightos’ WebCargo platform has partnered with three leading Chinese master loaders—Sinoair, CIMC Anda Shun, and Sinotech—to enhance air cargo export capabilities. This partnership allows forwarders in Europe and North America to access real-time pricing, booking, and payment options, eliminating the need for IATA cargo agent requirements. With China accounting for a significant portion of global air cargo, representing 7.3 million metric tons out of 65.7 million, this move aims to streamline operations and reduce costs. The collaboration is expected to boost global trade efficiency and foster direct relationships between forwarders and Chinese logistics providers.
Freightos Limited (NASDAQ: CRGO) reported a significant revenue increase of 72% for FY 2022, reaching $19.1 million, with Q4 revenue up 54% year-over-year. The company achieved a record 668,185 transactions and a Gross Booking Value (GBV) of $611 million, growing 102%. Despite an IFRS operating loss of $24.3 million, the gross margin improved, indicating strong buyer retention and successful strategic acquisitions. The company raised $82 million, exceeding cash flow expectations. For FY 2023, management forecasts revenue growth between 15% and 21%, highlighting a positive outlook despite market challenges.
Freightos (Nasdaq: CRGO), a key player in the international freight industry, is set to release its financial results for the fiscal year 2022 on March 13, 2023. Management will hold a webcast and conference call at 8:30am ET to discuss these results, followed by the filing of the annual report on form 20-F by March 31, 2023. The company operates a vendor-neutral platform enhancing shipping efficiency, connecting thousands of importers and exporters with logistics providers globally.
For more information, visit freightos.com/investors.
JetBlue Cargo, through AeroNex Cargo, will implement real-time pricing, booking, and payment solutions for freight forwarders in the US via WebCargo by Freightos (Nasdaq: CRGO). This initiative aims to enhance air cargo efficiency, leveraging JetBlue's A320 and A321 fleet to provide 1 to 3-day service across over ten North American airports. The collaboration will enable seamless booking and payment, boosting competitive service offerings for forwarders. With air cargo being the fastest-growing aviation segment, both companies are poised to streamline operations for over 10,000 forwarding offices globally, enhancing customer service efficiency.
FAQ
What is the current stock price of Freightos Ordinary shares (CRGO)?
What is the market cap of Freightos Ordinary shares (CRGO)?
What does Freightos Limited do?
What services does WebCargo by Freightos offer?
Who are some of Freightos' key partners?
What recent partnerships has Freightos announced?
How has Freightos performed financially in recent times?
What is Freightos.com?
Where is Freightos Limited based?
Who is the CEO of Freightos?
How does Freightos support the supply chain?
What is the focus of Freightos' future initiatives?
