Freightos (CRGO) Q4 2025 earnings summary

Executive summary

• Achieved $29.5M in 2025 revenue, up 24% year-over-year, with 1.6M transactions (up 26%) and $1.29B GBV (up 44%).

• Prioritizing profitability and disciplined growth in 2026, targeting Adjusted EBITDA break-even by Q4 2026.

• CEO transition underway, with a new CEO to be appointed and board roles separated.

• Focused on expanding the solution suite, driving transaction growth, and strengthening operational discipline.

• Management expects higher growth in 2027 and beyond, with ongoing investment in technology and solutions.

Financial highlights

• Q4 2025 revenue was $7.4M, up 12% year-over-year; full year revenue reached $29.5M, up 24%.

• Non-IFRS gross margin for Q4 was 72.7%, and 73.7% for the year; IFRS gross margin for 2025 was 66.8%.

• Adjusted EBITDA for Q4 2025 was -$2.7M; full year Adjusted EBITDA was -$11.2M.

• IFRS loss for 2025 was $(17.5)M, improved from $(22.5)M in 2024.

• Ended 2025 with $27.9M in cash and short-term deposits.

Outlook and guidance

• FY 2026 revenue guidance is $31.2M–$32.8M, representing 6%–12% growth; Q1 2026 revenue expected at $7.4M–$7.5M, up 7%–9%.

• FY 2026 Adjusted EBITDA projected at -$6.9M to -$6.2M.

• FY 2026 transactions expected at 1.94M–1.98M, up 18%–20% year-over-year.

• Targeting Adjusted EBITDA break-even by Q4 2026 and ending 2026 with approximately $20M in cash.

• Longer sales cycles and solution softness in 2025 expected to affect near-term solutions revenue growth.