Overview

* Freightos ( CRGO ) Q2 revenue up 31% yr/yr, beating analyst expectations

* Adjusted EBITDA negative $2.9 mln, slightly smaller than last year

* Co updates full-year outlook, increasing transaction forecasts

Outlook

* Freightos ( CRGO ) expects Q3 revenue of $7.6 mln to $7.7 mln

* Company forecasts full-year revenue of $29.5 mln to $30.0 mln

* Freightos ( CRGO ) anticipates Q3 transactions between 419k and 425k

* Company projects full-year transactions of 1,607k to 1,684k

Result Drivers

* TRANSACTION VOLUME - Record 397k transactions in Q2, up 26% yr/yr, driving revenue growth

* CARRIER EXPANSION - Addition of China Airlines and Air Europa among new carriers increased platform diversity

* SAAS AND CUSTOMS - Strong organic performance from SaaS solutions and customs clearance services contributed to revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $7.44 $7.09

Revenue mln mln (3

Analysts

)

Q2 EPS -$0.09

Q2 Beat -$4.24 -$4.34

Pretax mln mln (1

Profit Analyst)

Q2 Gross $4.99

Profit mln

Q2 $9.51

Operatin mln

g

Expenses

Q2 -$4.51

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy"

* Wall Street's median 12-month price target for Freightos Ltd ( CRGO ) is $5.00, about 35% above its August 15 closing price of $3.25

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)