Freightos Limited), a leading vendor-neutral digital booking and payment platform for the international freight industry, today reported financial results for the quarter ended June 30, 2024, which report followed the announcement of the acquisition of Shipsta.
“Our robust second quarter performance underscores the growing strength and adoption of our platform in the international freight market. The acquisition of Shipsta, announced earlier today, marks a significant milestone in our journey to digitalize freight booking and procurement, by expanding our footprint in global freight tenders,” said Zvi Schreiber, CEO of Freightos. “Building on our first quarter momentum, we've continued to focus on high-value initiatives and strategic expansion. As we move forward, we remain committed to driving innovation and capturing the vast opportunities in the air and ocean freight markets, positioning us for sustained growth and value creation in this hugely important industry.”
Second Quarter 2024 Financial Highlights
● Revenue of $5.7 million for the second quarter of 2024, an increase of 11% compared to $5.1 million in the second quarter of 2023.
● IFRS gross margin of 64.9%, up from 57.3% in the second quarter of 2023.
Non-IFRS gross margin of 72.0%, up from 65.0% for the second quarter of 2023.