JERUSALEM ,
Oct. 18,
2023 /PRNewswire/ -- Freightos Limited (NASDAQ:
CRGO), a leading, vendor-neutral booking and payment platform for
the international freight industry, today reported Q3 2023 Key
Performance Indicators.
|
Actuals
|
Management's
Expectations
|
|
Q3 2023
|
Q3
2023
|
|
|
|
# Transactions
('000)
|
269.2
|
243.5-259.5
|
Year over Year
Growth
|
40 %
|
|
GBV ($m)
|
$160.7
|
$146.5 -
$156.5
|
Year over Year
Growth
|
1 %
|
|
The third quarter of 2023 was the 15th consecutive
quarter of record transactions booked on Freightos' platform, with
269 thousand transactions, up 40% from Q3 2022 and 12% from Q2 2023
and exceeding management expectations. Freightos' growth in
#Transactions continues to significantly outperform the overall
industry, reflecting the strong value proposition of its digital
platform that allows real-time global freight-rate comparison,
booking, and shipment management, and thus promoting efficiency and
transparency.
Gross Booking Value (GBV) also exceeded management expectations,
increasing 1% year-on-year as strong #Transactions growth exceeded
the reduced freight rates in the market.
#Transactions growth was supported by approximately 16% year on
year growth in Unique buyer users, reaching 17,312. The number of
air and ocean carriers selling on the platform increased to 39,
compared to 32 in Q3 2022.
Q3 2023 Earnings Call
Financial results for the third quarter of 2023 and outlook for
the fourth quarter will be reported before the markets open on
November 21, 2023. Information about
Freightos' financial results, including a link to the live webcast,
will be available on Freightos' investor relations website at
https://www.freightos.com/investor-news/.
Freightos' management will host a webcast and conference call to
discuss the results that morning at 8:30
a.m. EST.
To participate in the call, please register at the following
link:
https://freightos.zoom.us/webinar/register/WN_vt-BkyB0Qw6Qhj0g32vKUg#/registration
Following registration, you will be sent the link to the
conference call which is accessible either via the Zoom app, or
alternatively from a dial-in telephone number.
Questions may be submitted in advance to ir@freightos.com or via
Zoom during the call.
A replay of the webcast will be available on Freightos' Investor
Relations website following the call, as well as the call's
transcript.
Definitions
Carriers: Number of unique air and ocean carriers
who have been sellers of transactions. For airlines, we count the
booking carrier, which includes separate airlines within the same
carrier group. We do not count dozens of other airlines that
operate individual segments of air cargo transactions as we do not
have a direct booking relationship with them. Carriers include
ocean less-than-container load (LCL) consolidators. In addition, we
only count carries when more than five bookings were placed with
them over the course of a quarter.
GBV: Total value of transactions on the Freightos
platform, which is the monetary value of freight and related
services contracted between buyers and sellers on the Freightos
platform, plus related fees charged to buyers and sellers, and
pass-through payments such as duties. GBV is converted to U.S.
dollars at the time of each transaction on the Freightos platform.
This metric may be similar to what others call gross merchandise
value (GMV) or gross services volume (GSV). We believe that this
metric reflects the scale of the Freightos platform and our
opportunities to generate platform revenue.
Unique buyer users: Unique buyer users represent the
number of individual users placing bookings, typically counted
based on unique email logins. The number of buyers, which counts
unique customer businesses, does not reflect the fact that some
buyers are large multinational organizations while others are small
or midsize businesses. Therefore, we find it more useful to monitor
the number of unique buyer users than the number of buyer
businesses.
#Transactions: Number of bookings for freight
services, and related services, placed by buyers across the
Freightos platform with third-party sellers and with Clearit.
Beginning in the third quarter of 2022, #Transactions include
trucking bookings, which were added to the Freightos platform
following the acquisition of 7LFreight. The number of transactions
booked on the Freightos platform in any given time period is net of
transactions canceled during the same time period.
Certain amounts, percentages and other figures included in
this press release have been subject to rounding adjustments and
therefore may not sum.
About Freightos
Freightos® (NASDAQ: CRGO) operates a leading, vendor-neutral
booking and payment platform for international freight. Freightos'
platform supports supply chain efficiency and agility by enabling
real-time procurement of ocean and air shipping across more than
ten thousand importers/exporters, thousands of forwarders, and
dozens of airlines and ocean carriers.
Freightos.com is a premier digital international freight
marketplace for importers and exporters for instant pricing,
booking, and shipment management. Thousands of SMBs and enterprises
have sourced shipping services via Freightos across dozens of
logistics service providers.
WebCargo® by Freightos is a leading global freight platform
connecting carriers and forwarders. In particular, it is the
largest air cargo eBooking platform, enabling simple and efficient
freight pricing and booking between thousands of freight
forwarders, including the top twenty global freight forwarders, and
hundreds of airlines, ocean liners and trucking carriers. Airlines
on the platform represent over a third of global air cargo
capacity. WebCargo also offers software as a service for forwarders
to facilitate digital freight rate management, quoting, and online
sales.
Freightos Data calculates the Freightos Baltic Index, the
industry's key daily benchmark of container shipping prices, the
Freightos Air Index, as well as other market intelligence products
that improve supply chain decision-making, planning, and pricing
transparency.
Freightos is a widely recognized logistics technology leader
with a worldwide presence and a broad customer network.
Incorporated in the Cayman Islands
with offices around the world, More information is available at
freightos.com/investors.
Contacts
Media:
Tali Aronsky
press@freightos.com
Investors:
ir@freightos.com
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SOURCE Freightos