Freight Technologies net worth reflects its financial standing and growth in the logistics sector. At Ando Money, we dive deep into the finances, analyzing their revenue streams and business strategies.
Let’s explore how Freight Technologies’ financial journey shapes up in 2024.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Freight Technologies |
| Full Name | Freight Technologies |
| Website | freightos.com/investors |
| Industry | Freight Technology / Logistics Marketplace |
| Traded as | Nasdaq: CRGO |
| ISIN | N/A |
| Founded | N/A |
| Founders | N/A |
| Country/Territory | Cayman Islands |
| Headquarters | Cayman Islands |
| Chief Executive Officer | Zvi Schreiber |
| Number of Employees | 4,900 (2023) |
| Market Cap | $2.93 Million |
| Total Assets | N/A |
| Total Equity | N/A |
| Revenue (Q2 2024) | $5.7 Million |
| Net Income | N/A |
What is the Net Worth/Market Cap Of Freight Technologies in 2024?
Freight Technologies’ market cap in 2024 stands at $2.93 million, making it a valuable entity in the freight technology sector.
While the company shows a promising financial trajectory, its market cap is modest compared to larger logistics and tech giants.
Here are a few notable companies that are comparable in the logistics and freight technology space:
- Freightos
- Nasdaq
- Shipsta
- Zvi Schreiber (as CEO)
- Logistics market players
- Fr8Tech
- Global freight market
To see how Freight Technologies’ valuation stacks up against some of the world’s most financially successful companies, continue exploring.
Freight Technologies Financial Performance Overview
Freight Technologies demonstrated strong financial results in Q2 2024, achieving a revenue of $5.7 million. This is a testament to its growth strategy and network effect within the logistics market.
The company saw an increase in transactions to 316.5K, indicating a significant user and market expansion. Their EBITDA, although negative at -$3.1 million, shows a continued investment in growth and development.
The guidance for Q3 and the full year 2024 anticipates revenue growth between 16-18% and 15-17%, respectively.
Revenue Streams and Business Model
Freight Technologies operates on a dual-revenue model. The Solutions Revenue is primarily derived from recurring subscriptions for SaaS and data services.
Meanwhile, the Platform Revenue stems from transaction fees associated with freight service bookings.
This diversification allows for both stable subscription income and transaction-based earnings, contributing significantly to the overall financial performance.
Growth Drivers and Transaction Volumes
The steady rise in unique buyer users and carriers contributes greatly to Freight Technologies’ financial success. The user base includes both large multinational organizations and small to medium businesses.
The increased number of transactions reflects the company’s ability to connect buyers and sellers efficiently, creating a robust and growing marketplace.
The company aims to maintain its growth by enhancing user experience and expanding its network of logistics carriers.
Impact of Recent Acquisitions on Financials
The acquisition of Shipsta for $4.9 million (€4.5 million) has been a strategic move, adding value to Freight Technologies’ offerings and expanding its reach in the logistics market.
This acquisition is expected to help the company achieve breakeven by the end of 2026.
Shipsta’s value propositions align well with the overall goals of Freight Technologies, enhancing revenue streams and strengthening the business model.
Gross Margin and Cost Management
The company boasts a solid gross margin performance. The IFRS gross margin stands at 64.9% for Q2 2024, while the Non-IFRS gross margin is at 72.0%. These figures indicate efficient cost management and high-profit potential.
The company actively works on optimizing its operations, aiming to improve margins further. By keeping a close eye on operational expenses, the focus remains on enhancing profitability.
Financial Guidance for 2024 and Long-term Profitability Goals
The company has provided optimistic guidance for Q3 and the full year 2024. They expect the number of transactions to reach 323.5K – 332.5K in Q3 and 1.28M – 1.30M for the full year, showing strong growth potential.
GBV is projected to range between $198 million – $203.5 million in Q3 and $804 million – $816.5 million for the fiscal year.
The company aims to achieve breakeven by the end of 2026 through continued growth and strategic financial management.
Market and Industry Impact on Revenue
The global logistics market, valued at approximately $1.6 trillion by 2026, plays a key role in Freight Technologies’ financial outlook.
Trends in freight volumes and rates directly influence the company’s revenue. Freight Technologies leverages these market dynamics to boost its financial performance and maintain a competitive edge in the industry.
Strategic Vision and Plans for Revenue Enhancement
To achieve financial growth, Freight Technologies continues to improve its core product offerings, enhancing both its platform and solutions for customers.
The company also aims to capitalize on the marketplace network effect, which not only increases transactions but also enhances overall revenue potential.
By focusing on these strategic initiatives, Freight Technologies positions itself for sustainable growth and increased profitability.
FAQs about Freight Technologies
What is Freight Technologies’ main source of revenue?
Freight Technologies derives its revenue primarily from SaaS subscriptions and transaction fees for freight bookings on its platform.
How does the acquisition of Shipsta impact Freight Technologies?
The acquisition is expected to enhance Freight Technologies’ revenue and support its goal of reaching breakeven by the end of 2026.
What are Freight Technologies’ long-term financial goals?
Freight Technologies aims to achieve breakeven by 2026 through sustained growth in transactions and revenue, along with effective cost management.
How is Freight Technologies performing in terms of gross margin?
In Q2 2024, Freight Technologies reported an IFRS gross margin of 64.9% and a Non-IFRS gross margin of 72.0%, showcasing strong cost efficiency.
What is the guidance for Freight Technologies in Q3 2024?
The company expects to achieve between $5.9 – $6.0 million in revenue and 323.5K – 332.5K transactions in Q3 2024.
Conclusion
Freight Technologies continues to build its financial foundation within the logistics sector. Stay tuned for more updates and in-depth analysis at Ando Money.
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