Freightos Ltd (NAS:CRGO)

Q3 2024 Freightos Ltd Earnings Call Transcript

Nov 25, 2024 / 01:30 PM GMT

Release Date Price: $2.1 (-11.39%)

Transcript

Key Points

Positve

Freightos Ltd (CRGO) achieved a 26% increase in transactions, marking the 19th consecutive quarter of record transactions.
The company reported a 35% year-over-year growth in gross booking value, reaching $217.5 million for the quarter.
Freightos Ltd (CRGO) successfully integrated the Shipa tender procurement solution, enhancing cross-selling opportunities.
The company experienced strong growth in both transactional and subscription revenue, with platform revenue growing by 29% year-over-year.
Freightos Ltd (CRGO) improved its gross margins significantly, with IFRS cost margins rising to 65% compared to 54.9% in the previous year.

Negative

The CFO, Ron, announced his departure, which may lead to transitional challenges.
Despite increased revenue, the adjusted EBITDA guidance for Q4 is down due to the full consolidation of Shipa and increased staffing costs.
Some big carrier integrations were delayed earlier in the year, affecting transaction volumes.
The ongoing Red Sea crisis and elevated freight prices could pose challenges to maintaining current growth rates.
Freightos Ltd (CRGO) is still burning cash, with plans to achieve positive adjusted EBITDA only by the end of 2026.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRGO.OQ - Freightos Ltd
Q3 2024 Freightos Ltd Earnings Call
Nov 25, 2024 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to Fredo's Q3 2024 earnings conference call. A press release with detailed financial results was released earlier today and is available on the investor relations section of our website.

Following the prepared remarks, we will open the call for questions. We are sharing slides during the call. So we recommend using Zoom on a computer rather than dialing in by phone. The slides as well as a recording of this earnings call will be available on our website shortly after the call.

Please be aware that today's discussion contains forward-looking statements which are subject to a number of risks and uncertainties.

Actual results may differ materially due to various risk factors. Please refer to today's press

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