CRGO News & Events

Reports Q1 revenue $7.16M vs. $6.94M last year. "I'm honored to lead Freightos through this next phase as we continue focusing on long-term growth while maintaining disciplined execution and improving operational efficiency," said Pablo Pinillos, CEO and CFO of Freightos. "During the quarter, we continued executing against the strategic and operational priorities introduced earlier this year, including actions to improve efficiency, sharpen investment focus and strengthen our path toward adjusted EBITDA breakeven by the end of 2026. At the same time, the global freight environment remains challenging, with continued disruption across key trade corridors. Our updated outlook reflects those formidable, current market conditions and execution realities, which have led us to adjust our revenue guidance accordingly, while maintaining our adjusted EBITDA guidance. Our long-term strategy remains unchanged, and we continue to believe Freightos is well positioned as global freight increasingly shifts toward interconnected digital procurement and booking workflows."

Freightos reported preliminary key performance indicators for Q1. These operational KPIs primarily reflect platform activity. Q1 transactions totaled 425K, up 15% year-over-year and below management's expectations, reflecting reduced activity in Middle East routes amid ongoing military conflict and disruption to major international shipping and air corridors. Excluding routes involving Middle East origin, destination or airspace, transactions grew year-over-year at a rate above management expectations, reflecting continued growth across other regions and increased use of alternative routing. Active carrier network maintained its record level of 79 carriers in Q1 2026, up from 77 in Q4 2025. Unique buyer users declined slightly on a sequential basis to approximately 20,600, reflecting the reduced activity in the Middle East, but was up approximately 5% year over year. Total value of transactions processed on the Freightos platform, or GBV, reached $344M for Q1 2026 up 24% from Q1 last year. GBV met management expectations as elevated freight rates as a result of capacity constraints due to the ongoing conflict in the Middle East compensated for the transaction shortfall.

Freightos announced a cost optimization plan that includes a global workforce reduction of up to 15%, to improve operating efficiency and support its previously communicated path to adjusted EBITDA breakeven by the end of 2026. The company currently estimates to incur approximately $1.3M of one-time restructuring charges, primarily related to severance and employee benefits, throughout the first nine months of the year. Freightos expects the restructuring to generate annualized cost savings of approximately $4.5M, starting Q4 2026.

Freightos announced that Air Serbia will be joining its cargo booking platform. This integration will extend Freightos Pay's reach by enabling guaranteed digital payments between freight forwarders and carriers across Europe, including for forwarders without IATA accreditation. Once live, Air Serbia air cargo will be available for e-bookings across the United States and throughout its European network, from Albania and Austria to Sweden and Switzerland.