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Freightos Record Transactions and Gross Booking Value for First Quarter of 2024 Exceed Management Expectations
The Company Plans To Report Earnings on May 20, 2024
JERUSALEM, April 15, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ:CRGO), a leading, vendor-neutral booking and payment platform for the international freight industry, today reported preliminary first quarter 2024 Key Performance Indicators.
Actuals*
Management's Expectations
Q1 2024
Q1 2024
# Transactions ('000)
295.6
280.5 - 288.0
Year over-Year Growth
29 %
22% - 26%
GBV ($m)
192.4
168.0 - 172.5
Year over-Year Growth
14 %
0% - 2%
*Numbers are preliminary and subject to change with the full earnings release
In Q1 2024, Freightos continued to achieve operating milestones consistent with its long-term growth objectives. The platform facilitated 295.6 thousand transactions, representing a year-over-year growth of 29%. This strong consistent transaction growth underscores the platform's broadening market acceptance and the increasing embrace of digital solutions in the freight industry, and is aligned with the company's target of 20-30% annual transaction growth rate.
Gross Booking Value (GBV) for Q1 2024 grew 14% compared to the same quarter last year, well above management's forecast of 0-2% growth. This outperformance stems mostly from elevated freight rates during the ...