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Freightos processed 350,400 transactions in Q4, a 22% increase from the previous year. Full-year transactions grew 27% to 1.3 million.

Freightos Ltd. reported a 25% increase in revenue in Q4 2024, reaching $6.6 million. Meanwhile, full-year revenue rose 17% to $23.8 million.

CEO Zvi Schreiber said that more shipping carriers, freight forwarders, and importers/exporters continue to use the company’s platform. He also mentioned plans to introduce AI-driven tools and new products, with a goal of reaching financial break-even by the end of 2026.

Freightos’ gross margin improved in Q4, reaching 67.6%, up from 62.2% the previous year. A different measure, excluding certain costs, rose from 70.0% to 74.3%. The company reported a quarterly loss of $9.8 million, which included a one-time $3.0 million adjustment related to a past acquisition. This was higher than the $3.3 million loss in Q4 2023. The company’s adjusted operating loss improved to $3.1 million from $3.8 million a year earlier.

Freightos revenue in Q4 and full-year 2024

For the full year, Freightos reduced its overall loss to $22.5 million, down from $65.5 million in 2023, which had included a one-time stock listing expense. As of Dec. 31, 2024, the company had $37.3 million in cash and short-term deposits.

Freightos processed 350,400 transactions in Q4, a 22% increase from the previous year. Full-year transactions grew 27% to 1.3 million. The company expanded its network, increasing the number of carriers on its platform from 55 to 67, with CMA CGM AIR CARGO joining in Q4 and Norwegian Cargo and WestJet Cargo added after the quarter ended.

The number of businesses booking freight services through the platform grew 14% year over year to 20,100 in Q4. The total value of bookings processed rose 50% in the quarter to $280.7 million, bringing the full-year total to $894.0 million, a 33% increase.

Revenue growth was driven by Freightos’ WebCargo platform and customs services. Subscription-based software solutions, including Shipsta, had their highest revenue in Q4 2024. Platform revenue for the quarter was $2.3 million, up 21% year over year, while solutions revenue grew 28% to $4.3 million. For the full year, platform revenue increased 18% to $8.4 million, and solutions revenue rose 17% to $15.4 million.

Freightos plans to continue expanding its digital services and AI tools while working toward improving its financial position. The company also announced that Pablo Pinillos will become CFO next week.

Check back for more earnings reports. Click here to read last quarter‘s article on Freightos revenue, transaction volume and overall earnings.

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