Freight Technologies says Fr8Tech achieves Q4 revenue of $5M

Freight Technologies announces its preliminary financial results for Q4 2023 which concluded on Dec. 31, 2023. Fr8Tech marks its third consecutive quarter of notable revenue growth in Q4 2023 achieving approximately $5 million in quarterly revenue, reflecting 7.5% growth compared to the previous quarter and more than 16% growth compared to the fourth quarter of 2022. The YTD gross margin percentage rose to 9.3%, showcasing a more than 50-basis point improvement over the prior year-to-date results in 2022. Fr8Tech is excited to witness an upward trajectory in client engagement with Fr8App. Clients increasingly leverage the platform’s real-time, all-in-one portal, streamlining their operations for enhanced efficiency and cost-effectiveness. Fr8Tech anticipates a healthy 2024 and remains dedicated to advancing innovation, expanding its client base, and delivering value to shareholders. The strategic focus on core segments and the commitment to client satisfaction position Fr8App as a market leader in the evolving landscape of freight technology.