Freightos Reports First Quarter 2025 Results
- Matus Cigan
- May 25
- 3 min read
Freightos Limited (NASDAQ: CRGO), the leading vendor-neutral digital booking and payment platform for the international freight industry, today reported its financial results for the quarter ended March 31, 2025.
“Freightos delivered another strong quarter of growth as we continue to lead the digital transformation of global freight,” said Zvi Schreiber, CEO of Freightos. “The launch of our comprehensive Freightos Enterprise Suite marks a significant milestone in unifying shipping procurement, booking, and execution processes for large importers and exporters, leveraging our own software combined with software that we acquired in the Shipsta acquisition. While recent tariff announcements have created uncertainty in global trade, our vendor-neutral digital platform has become even more valuable in the volatile environment, helping our customers navigate complexity through digitalization, which enhances visibility and agility.
The largest segment of our Platform, airline eBookings, has minimal exposure to China-US trade flows. With the vast majority of international freight still booked offline, we see an immense opportunity for our digital solutions regardless of short-term fluctuations related to changes in trade policy.”
“We delivered strong first quarter results with revenue growth of 30% year-over-year, exceeding our expectations,” said Pablo Pinillos, CFO of Freightos. “The resilience of our business model gives us confidence to maintain our full-year outlook. We are closely monitoring the evolving macro environment, including trade policy changes, potential freight rate volatility, and broader economic uncertainties. These do create elevated risk, but our strong balance sheet positions us with resilience to navigate these dynamics while continuing to invest in growth opportunities.”
First Quarter 2025 Financial Highlights
Revenue of $6.9 million for the first quarter of 2025, an increase of 30% compared to $5.4 million in the first quarter of 2024.
IFRS Gross Margin of 66.8%, up from 62.6% in the first quarter of 2024. Non-IFRS Gross Margin of 73.7%, up from 70.3% for the first quarter of 2024.
IFRS loss of $4.5 million, compared to $4.6 million in the first quarter of 2024.
Adjusted EBITDA of negative $3.0 million, compared to negative $3.6 million in the first quarter of 2024.
Cash and cash equivalents amounting to $36.4 million as of the end of March 2025.
Recent Business Highlights
Transactions Growth: Freightos achieved a record 370.9 thousand Transactions in the first quarter of 2025, up 25% year over year. This was the 21st consecutive quarter of record Transactions. Growth reflected increased usage across our existing network of carriers, forwarders, and importers/exporters, alongside steady additions of new participants.
Carrier Growth: The number of carriers selling on the platform increased from 67 in the fourth quarter of 2024 to 71 in the first quarter of 2025, reflecting the addition of new specialized cargo operators that broaden coverage across diverse routes.
Unique Buyer Users: The number of Unique buyer users digitally booking freight services across the platform grew by 10% compared to the first quarter of 2024, reaching 19.7 thousand.
Gross Booking Value Growth: Gross Booking Value (GBV) was $276.1 million in the first quarter, up 43% compared to the first quarter of 2024. This growth was supported by higher transaction volumes across the platform, freight rate stability, and larger average transactions in key trade lanes.
Revenue Growth: First quarter revenue of $6.9 million reflected the strongest year-over-year growth in over two years. The main contributors to the growth were the addition of Shipsta and strong organic performance from SaaS solutions and from customs clearance services, on top of continued solid growth of the WebCargo by Freightos platform. Total Platform revenue in the first quarter was $2.3 million, up 23% from the first quarter of 2024, and Solutions revenue was $4.6 million, up 33% year over year.
Image source: freightos.com
