Overview
Freightos Q2 revenue up 31% yr/yr, beating analyst expectations
Adjusted EBITDA negative $2.9 mln, slightly smaller than last year
Co updates full-year outlook, increasing transaction forecasts
Outlook
Freightos expects Q3 revenue of $7.6 mln to $7.7 mln
Company forecasts full-year revenue of $29.5 mln to $30.0 mln
Freightos anticipates Q3 transactions between 419k and 425k
Company projects full-year transactions of 1,607k to 1,684k
Result Drivers
TRANSACTION VOLUME - Record 397k transactions in Q2, up 26% yr/yr, driving revenue growth
CARRIER EXPANSION - Addition of China Airlines and Air Europa among new carriers increased platform diversity
SAAS AND CUSTOMS - Strong organic performance from SaaS solutions and customs clearance services contributed to revenue growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $7.44 mln | $7.09 mln (3 Analysts) |
Q2 EPS | -$0.09 | ||
Q2 Pretax Profit | Beat | -$4.24 mln | -$4.34 mln (1 Analyst) |
Q2 Gross Profit | $4.99 mln | ||
Q2 Operating Expenses | $9.51 mln | ||
Q2 Operating Income | -$4.51 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy"
Wall Street's median 12-month price target for Freightos Ltd is $5.00, about 35% above its August 15 closing price of $3.25
Press Release: ID:nPn5ZVhHBa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)