- Freightos press release (NASDAQ:CRGO): Q1 Non-GAAP EPS of -$0.06 beats by $0.06.
- Revenue of $5.36M (+11.2% Y/Y) beats by $0.08M.
- Adjusted EBITDA of negative $3.6 million, compared to negative $5.8 million for the first quarter of 2023.
- Cash and cash equivalents, short term deposits and short term investments amounting to $49.8 million at the end of March 2024, ensures sufficient resources to capture the massive market opportunity.
- Freightos achieved a record 295.6 thousand Transactions in the first quarter of 2024, up 29% year over year.
- Gross Booking Value was $192.4 million in the first quarter, up 14% compared to the first quarter of 2023, and significantly above management’s expectations.
- The number of Unique buyer users digitally booking freight services across the Freightos Platform grew by 11% compared to the first quarter of 2023, reaching 18.0 thousand.
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Financial outlook
Management Expectations
Q2 2024
FY 2024
Transactions
303,000 – 309,000
1,286,500 – 1,376,000
Year over Year Growth
27% – 29%
26% – 34%
GBV ($m)
$ 178.0 – $ 182.0
$ 788.9 – $ 844.1
Year over Year Growth
15% – 18%
17% – 26%
Revenue ($m)
$ 5.5 – $ 5.6 vs. $5.58M consensus
$ 22.4 – $ 24.0 vs. $23.57M consensus (prior $20.0M – $ 21.2M)
Year over Year Growth
8% – 10%
11% – 18%
Adjusted EBITDA ($m)
$ (3.5) – $ (3.4)
$ (15.3) – $ (13.8)
