Freightos Ltd

Gesher I Acquisition Corp. is a blank check company, which was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on February 23, 2021 and is headquartered in Tel Aviv, Israel.

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Freightos (CRGO) beats Q1 expectations, eyes growth amid challenges

Freightos demonstrated robust performance in Q1, surpassing expectations with strong financial results and strategic partnerships. While facing challenges from external factors like the Red Sea crisis, the company remains focused on growth, cost management, and achieving positive adjusted EBITDA.

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Freightos Ltd. engages in the operation of a booking and payment platform for international freight. It operates through the Platform and Solutions segments. The Platform segment provides digitalized price quoting, booking, and payments. The Solutions segment offers software tools and data to help industry participants automate their pricing, sales, and procurement processes. The company was founded by Zvi Schreiber in January 2012 and is headquartered in Jerusalem, Israel.

Full-year #Transactions growth of 53% showcases robust marketplace expansion Year-end cash balance of $52 million secures foundation for future growth and innovation Exceeded or met expectations across all key performance indicators for the quarter and the year JERUSALEM , Feb. 26, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral digital booking and payment platform for the international freight industry, today reported financial results for the quarter and year ended December 31, 2023. "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.

Freightos Reports Fourth Quarter and Full-Year Results with Substantial Transaction Growth and Strong Financial Position

JERUSALEM , Feb. 8, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading, vendor-neutral booking and payment platform for the international freight industry, today announced that William Chin, Head of Commodities at the Singapore Exchange stepped down from the board of directors, and that Carl Vine, Co-Head of Asia-Pacific Equity Investing at M&G Investments, was appointed to the board.   Carl Vine joined the M&G Equity team in 2019 and has 27 years of investment experience.

Freightos Announces Board of Directors Change

BARCELONA, Spain , Feb. 5, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for the international freight industry, announced that WebCargo by Freightos has partnered with Virgin Atlantic Cargo, a global air cargo leader. This collaboration combines Virgin Atlantic Cargo's extensive network with WebCargo's digital reach, providing more options for forwarders globally.

Virgin Atlantic Cargo Joins Freightos' WebCargo to Bring Air Cargo eBooking to Thousands of Freight Forwarders Globally

TOKYO and JERUSALEM , Jan. 24, 2024 /PRNewswire/ -- WebCargo by Freightos (NASDAQ: CRGO), the leading digital booking and payment platform for the international freight industry, today announced its partnership with JALCARGO, the cargo arm of Japan Airlines (JAL)).  Thousands of freight forwarders already using WebCargo will now be able to eBook for JAL's air cargo capacity to Japan and other Asian countries from Japan, Europe and the United Kingdom.

NAVIGATING TOMORROW: Japan Airlines Cargo Chooses WebCargo for Global Digital Expansion

Freightos, a vendor-neutral booking and payment platform for the international freight industry, reported record transactions for the fourth quarter of 2023. The company recorded 286,900 transactions in the fourth quarter, marking the 16th consecutive quarter of record transactions on its platform, Freightos said in a Tuesday (Jan. 16) press release.

Freightos Sees 36% Transaction Growth Due to Increased Digital Platform Adoption

JERUSALEM , Jan. 16, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading, vendor-neutral booking and payment platform for the international freight industry, today reported preliminary Q4 2023 Key Performance Indicators.   Actuals* Management's Expectations Actuals* Management's Expectations Q4 2023 Q4 2023 FY 2023 FY 2023 # Transactions ('000) 286.9 273.0 - 287.0 1,024.7 1,010.5 - 1,021.5 Year over Year Growth 36 % 53 % GBV ($m) 187.5 163.5 - 175.0 671.7 647.5 - 659.0 Year over Year Growth 10 % 10 % *Numbers are preliminary and subject to change with the full earnings release     The fourth quarter of 2023 was another quarter of strong performance by Freightos.

Freightos Announces Record Transactions for Fourth Quarter of 2023 and Date of Fourth Quarter and Full Year Earnings Release

Jerusalem, Israel--(Newsfile Corp. - December 4, 2023) - Freightos Limited (NASDAQ: CRGO) announced today it will be presenting at the December 7th, 2023 virtual Investor Summit. Event: December 7th Investor Summit Presentation: December 7th, 2023 @ 9:30 AM ET Location: https://us06web.zoom.us/webinar/register/WN_WZH5LqMoRtufBLNkINIhCw   About Freightos Limited Freightos® (NASDAQ: CRGO) operates a leading, vendor-neutral booking and payment platform for international freight.

Freightos Limited to Present at the December 7th Virtual Investor Summit

Freightos Limited (NASDAQ:CRGO ) Q3 2023 Results Conference Call November 21, 2023 8:30 AM ET Company Participants Anat Earon-Heilborn - VP, IR Zvi Schreiber - CEO Ran Shalev - CFO Conference Call Participants Jason Helfstein - Oppenheimer George Sutton - Craig-Hallum Anat Earon-Heilborn Hello, everyone, and welcome to Freightos Q3 2023 Earnings Conference Call. A press release with detailed financial results for Q3 2023 was released earlier today and is available at freightos.com/investors.

Freightos Limited (CRGO) Q3 2023 Earnings Call Transcript

Sustained growth in Transactions and in number of Buyer Users reflects continued marketplace growth dynamic Operational efficiency plan yields better than expected results enhancing the Company's financial standing JERUSALEM, Nov. 21, 2023 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral digital booking and payment platform for the international freight industry, today reported financial results for the quarter ended September 30, 2023.   "We are pleased with our third quarter results, marking the 15th straight quarter of robust growth in the number of transactions.

Freightos Reports Third Quarter Results with Revenue Growth and Progress Toward Profitability

JERUSALEM , Oct. 18, 2023 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading, vendor-neutral booking and payment platform for the international freight industry, today reported Q3 2023 Key Performance Indicators. Actuals Management's Expectations Q3 2023 Q3 2023 # Transactions ('000) 269.2 243.5-259.5 Year over Year Growth 40 % GBV ($m) $160.7 $146.5 - $156.5 Year over Year Growth 1 % The third quarter of 2023 was the 15th consecutive quarter of record transactions booked on Freightos' platform, with 269 thousand transactions, up 40% from Q3 2022 and 12% from Q2 2023 and exceeding management expectations.

Freightos Announces Record Transactions for Third Quarter of 2023 and Date of Third Quarter Earnings Release

JERUSALEM , Sept. 27, 2023 /PRNewswire/ -- WebCargo by Freightos (NASDAQ: CRGO), the leading digital booking and payment platform for the international freight industry, today announced a partnership with Chapman Freeborn, a leading aircraft charter company, to bring additional global capacity from their global charter business to WebCargo's platform early October, thereby enabling seamless pricing, booking and payment for thousands of freight forwarders worldwide.

Freightos' WebCargo Partners with Chapman Freeborn to Offer Extensive Global Capacity

JERUSALEM , Sept. 26, 2023 /PRNewswire/ --  Norse Atlantic Airways and WebCargo by Freightos (NASDAQ: CRGO), the leading air cargo booking platform, today announced a significant partnership to offer the European based carrier's capacities from the biggest European Union cities for instant eBooking and payment on WebCargo.

With its Fleet of CO2-Friendly 'Longships': Norse Atlantic Airways Partners with WebCargo by Freightos to Propel its First-Ever Digital Sales

Freightos operates a booking and payment platform for freight, aiming to make shipments faster, cost-effective, and reliable. The company has seen growth in the number of transactions but has not been able to translate it into higher revenues. CRGO faces challenges in commercializing its services profitably, with stagnant revenues, worsening adjusted EBITDA, and a cash burn that could lead to running out of cash by 2024.

Freightos Fails To Generate Value From Growth

Freightos Limited (NASDAQ:CRGO ) Q2 2023 Results Conference Call August 21, 2023 8:30 AM ET Company Participants Eytan Buchman - Chief Marketing Officer Zvi Schreiber - CEO Ran Shalev - CFO Conference Call Participants Jason Helfstein - Oppenheimer Brian Dobson - Chardan George Sutton - Craig-Hallum Hello, all. Welcome to Freightos' Q2 2023 earnings conference call.

Freightos Limited (CRGO) Q2 2023 Earnings Call Transcript

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Freightos Platform continues 14 quarter streak of record Transactions. Company remains on track to reach profitability with existing cash.

Freightos Reports Second Quarter Results with Record Transactions and Improved Profitability

JERUSALEM , July 24, 2023 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading, vendor-neutral booking and payment platform for the international freight industry, today reported Q2 2023 Key Performance Indicators. Actuals   Management's Expectations 2Q 2023 2Q 2023 # Transactions ('000) 239.4 239.5 - 244.5 Year over Year Growth 59 % GBV ($m) $  154.8 $ 159.1 - $ 162.4 Year over Year Growth 0 %   A record 239 thousand transactions were booked on the platform in Q2 2023, up 59% from Q2 2022, continuing Freightos' streak of record transactions.

Freightos Announces Record Transactions for Second Quarter of 2023 and Date of Second Quarter Earnings Release

In Digital Air Cargo (DAC) milestone, WebCargo reduces time to book interline shipments from days to seconds JERUSALEM , July 18, 2023 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for the international freight industry, announced that WebCargo by Freightos now enables digital interlining. The first booking, a test shipment by Qatar Airways Cargo on an ITA Airways flight, is a significant first step towards Freightos' vision for streamlined interlining.

WebCargo by Freightos Enables First Digital Interlining Air Cargo Shipment Booked between ITA Airways and Qatar Airways Cargo

Freightos, a digital marketplace for international air and ocean shipping, announced Tuesday that it will reduce staff levels by 13% and lowered its full-year outlook again in an effort to stem mounting losses as revenues fall short of expectations because of a prolonged downturn in freight markets. The news is the latest example of the ongoing freight recession taking a financial toll on companies in the freight transportation space.

Freightos laying off 13% of employees as revenue weakens

In light of persisting global economic headwinds, Freightos announces an operational efficiency plan expected to allow the Company to continue growth and to reach break-even on existing funds. Growth plans heighten focus on Solution and Platform development for freight forwarders, airlines and enterprise importers/exporters.

Freightos Announces Plan for Operational Efficiency and Cost Reduction

As air cargo market softens, the Dashboard provides critical insights into demand patterns and pricing, and allows airlines to take action to improve sales and revenue JERUSALEM , July 5, 2023 /PRNewswire/ -- WebCargo by Freightos (Nasdaq: CRGO), the leading digital cargo booking and payment platform, announced today that its new Airline Dashboard has emerged from beta for its 35+ airline partners. With the new product, airlines can optimize revenue and utilization with unparalleled visibility into customer behavior across over 10,000 forwarding offices, while gaining the ability to easily adjust surcharges, services and more.

WebCargo Launches Airline Dashboard to Drive Insights and Revenue for Cargo Airlines

Largest Nordic airline to provide sustainable eBookings from the Mediterranean to the Arctic to 10,000+ forwarding offices on WebCargo JERUSALEM, June 22, 2023 /PRNewswire/ -- Wideroe, the innovative Nordic airline, announced today a new partnership with WebCargo by Freightos (NASDAQ: CRGO) to deliver real-time rates, capacity and eBookings on the cargo booking platform, reaching 3,500+ forwarders across 10,000 offices globally. Forwarders now have access to air cargo shipments from Norway, Denmark, and the United Kingdom through Wideroe's unique network.

Wideroe, a Leader in Emission Reduction, to Expand its Digital Offerings with eBookings on WebCargo

Partnership with Leading Cargo Booking and Payment Platform Makes Eastern Air Logistics First Chinese Carrier With Real-Time Ex-China eBooking and Payments JERUSALEM , June 20, 2023 /PRNewswire/ -- Eastern Air Logistics (EAL), the logistics arm of China Eastern Airlines, the first all-cargo airline in China, has announced a new partnership with WebCargo by Freightos (NASDAQ: CRGO), the leading cargo booking and payment platform, to deliver eBooking and payments to global forwarders of all sizes. This partnership provides a seamless, end-to-end solution for customers looking to move cargo from the largest global export country to the West, beginning with ex-China coverage to North America, Europe and Asia, and from Europe to China.

Eastern Air Logistics Taps WebCargo to Fuel Global Growth

Freightos, a digital marketplace for air and ocean freight, reported adjusted losses before accounting measures increased 83% to $5.8 million in the first quarter due to ongoing investments in R&D and customer acquisition, despite transaction levels doubling. The results suggest that transactional fees are still too thin to overcome ongoing startup costs.

Freightos' cash burn continues despite more user activity

Transactions on Freightos Platform continue streak of 13 record quarters, confirming again sustainable marketplace growth flywheel. Carriers providing marketplace supply diversify and expand to 37.

News for Freightos Ltd Stock (CRGO)