Freightos reports Q3 EPS )7c), consensus (13c)

Reports Q3 revenue $5.1M, consensus $5.07M. “We are pleased with our third quarter results, marking the 15th straight quarter of robust growth in the number of transactions. This is a clear indicator of how strongly our value proposition is resonating, despite the current industry downturn.” said CEO Zvi Schreiber. “On a macro level, we are encouraged to see that global trade volumes continue to grow, and look forward to more indications of recovery in the global freight market. During the quarter, we enhanced our offerings with key features and expanded our network of buyers and sellers. Even with this growth, we are only scratching the surface of digitizing the international freight market, and we’re excited about the opportunities we have as leaders in this ongoing digital transformation”. “We’re encouraged by the progress toward profitability in the third quarter, which confirms the effectiveness of our operational efficiency plan launched in July,” said Ran Shalev, CFO. “Q3 results are a testament to our strategic balance of driving growth and managing expenses. This trend together with our solid cash position, keeps us on course to reach profitability with the capital on hand.”