Fr8Tech 1H 2024 Revenue Of ~$8.1M; Fr8Tech Revising Its FY24 Revenue Forecast To The Range Of $15M-$20M
Portfolio Pulse from Benzinga Newsdesk
Freight Technologies, Inc. (NASDAQ:FRGT) reported a 6.6% increase in revenue for the first half of 2024, reaching $8.1 million. The company revised its full-year 2024 revenue forecast to $15M-$20M, driven by strong growth in its Fr8Fleet business and improved gross profits.
September 05, 2024 | 1:21 pm
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Freight Technologies, Inc. (FRGT) reported a 6.6% increase in revenue for the first half of 2024, reaching $8.1 million. The company revised its full-year 2024 revenue forecast to $15M-$20M, driven by strong growth in its Fr8Fleet business and improved gross profits.
The reported revenue growth and upward revision of the full-year forecast indicate positive business momentum. The significant growth in the Fr8Fleet business and improved gross margins suggest operational efficiency and market demand, likely boosting investor confidence and short-term stock price.
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