Freightos (CRGO) Q1 2025 earnings summary

Executive summary

• Achieved record Q1 2025 revenue of $6.9 million, up 30% year-over-year, with 371,000 transactions, a 25% increase, surpassing expectations and marking the 21st consecutive quarter of record transactions.

• Launched Freightos Enterprise Suite, integrating SHIPSTA, to expand solutions for global freight cost optimization and risk management.

• Expanded network to 71 carriers and 19,700 unique buyer users, reflecting strong network effects and global platform scaling.

• Platform and solutions segments both contributed to growth, with strong enterprise customer wins and 100% retention in data solutions.

Financial highlights

• Q1 2025 revenue reached $6.9 million, up 30% year-over-year, exceeding guidance of $6.7M–$6.8M.

• Platform revenue was $2.3 million (+23% YoY); solutions revenue was $4.6 million (+33% YoY), with solutions revenue primarily from recurring SaaS and data subscriptions.

• Gross Booking Value (GBV) for Q1 2025 was $276.1 million, a 43% year-over-year increase.

• Non-IFRS gross margin improved to 73.7% from 70.3% YoY; IFRS gross margin rose to 66.8% from 62.6%.

• Adjusted EBITDA improved to negative $3.0 million from negative $3.6 million YoY, with margin improving to -44% from -67% YoY.

• Ended Q1 with $36.4 million in cash and cash equivalents.

Outlook and guidance

• Q2 2025 guidance: 380,000–385,000 transactions (+20–22% YoY), GBV of $278–285 million (+37–40% YoY), revenue of $7.0–$7.1 million (+23–25% YoY), adjusted EBITDA loss of $2.8–$2.9 million.

• FY 2025 revenue guidance of $29.0M–$30.6M, representing 22%–29% year-over-year growth; break-even adjusted EBITDA targeted by end of 2026.

• Guidance assumes stable freight price levels and volumes as of May 2025.