Freightos Announces Record Transactions For Q2 2023 And Date Of Earnings Release; 239K Transactions Were Booked On The Platform In Q2 2023
Portfolio Pulse from Happy Mohamed
Freightos Limited (NASDAQ:CRGO) reported Q2 2023 Key Performance Indicators, with a record 239K transactions booked on the platform, up 59% YoY. However, due to reduced market freight rates, Gross Booking Value (GBV) was below management expectations. The company also announced an operational efficiency plan to improve Adjusted EBITDA by about $5.6 million per year. Financial results for Q2 2023 and Q3 2023 guidance will be announced on August 21, 2023.
July 24, 2023 | 12:43 pm
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Freightos reported record transactions for Q2 2023 but GBV was below expectations. The company's operational efficiency plan aims to improve EBITDA, which could positively impact the stock in the short term.
The record number of transactions indicates strong business performance, which is a positive signal for investors. However, the lower than expected GBV might raise concerns. The announced efficiency plan to improve EBITDA could offset these concerns and lead to a positive short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100