- Freightos (CRGO, Financial) achieves a record of 370,900 transactions in Q1 2025, marking a 25% year-over-year growth.
- Gross Booking Value (GBV) increases by 43% YoY to $276.1 million.
- Platform network expands to 71 carriers with a 10% growth in unique buyer users.
Freightos Limited (NASDAQ: CRGO) has reported robust preliminary results for the first quarter of 2025, marking significant growth across its key metrics. The company facilitated 370,900 transactions, a 25% increase compared to the same period last year, surpassing management's forecast of 362,000 to 370,000 transactions. This achievement represents the 21st successive quarter of record-breaking transactions for Freightos.
In terms of financial performance, Freightos' Gross Booking Value (GBV) reached $276.1 million, showing a remarkable year-over-year rise of 43%. This figure aligns with the company's projected range of $272 million to $280 million. Furthermore, the digital platform saw an expansion in its network to include 71 carriers, augmented by new specialized cargo operators. Unique buyer users on the platform grew by 10% to 19,700.
Freightos' CEO, Zvi Schreiber, highlighted the substantial potential for digital transformation within the freight industry, despite potential challenges such as tariffs affecting global trade growth. He noted that a large portion of international freight services, valued at hundreds of billions of dollars, continues to be booked offline, indicating a significant opportunity for digital platform expansion.
The full financial results for the first quarter of 2025 are expected to be released in the second half of May, with detailed webcast and conference call information to be announced in early May.
