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Freightos is positive on its outlook for the coming year despite the impact of tariffs on the cargo market.
The company, which owns one of the largest air cargo booking portals, WebCargo, today announced its first-quarter results, with revenues continuing to grow, while losses narrowed.
Freightos saw first-quarter revenues increase by 30% year on year to $6.9m, while the number of bookings made on the portal was up 25% to 370,900 transactions.
However, the company reported a loss of $4.5m for the period compared with a loss of $4.6m last year as operating expenses continued to rise.
The growth in revenues and transactions reflected increased usage across its existing network of carriers, forwarders, and importers/exporters, alongside steady additions of new participants.
The addition of procurement platform Shipsta last summer and the strong organic performance from SaaS solutions and from customs clearance services also boosted revenues.
Freightos chief executive Zvi Schreiber said that the company remained positive about the coming year despite the implementation of tariffs and the potential impact on trade.
”While recent tariff announcements have created uncertainty in global trade, our vendor-neutral digital platform has become even more valuable in the volatile environment, helping our customers navigate complexity through digitalisation, which enhances visibility and agility," he said.
"The largest segment of our Platform, airline eBookings, has minimal exposure to China-US trade flows. With the vast majority of international freight still booked offline, we see an immense opportunity for our digital solutions regardless of short-term fluctuations related to changes in trade policy.”
Pablo Pinillos, chief financial officer of Freightos, added: "The resilience of our business model gives us confidence to maintain our full-year outlook. We are closely monitoring the evolving macro environment, including trade policy changes, potential freight rate volatility, and broader economic uncertainties."
