Freightos reports 229,000 transactions in Q12023
Gross business value (GBV) came in at $168.7 million as against management expectations of $162-165.3 million
Nasdaq-listed Freightos reported 229,221 transactions in Q12023, up from 211,000 in Q42022 and 114,000 in Q12022.
"This exceeded the high end of management’s expectations by 2 percent and represented an 8.8 percent increase compared to the previous quarter, despite market softness and the first quarter being the normally seasonally weak quarter for the industry," says an official release.
Gross business value (GBV) came in at $168.7 million as against management expectations of $162-165.3 million, the release added. "Freightos has experienced record platform transaction growth for the previous 13 consecutive quarters. Despite market conditions, GBV exceeded management expectations as a result of strong transaction growth. This growth was supported by an increase in both demand – users booking across the platform – and supply – carriers offering their services on the platform."
The number of unique buyer users digitally booking freight services across the Freightos platform increased 29 percent compared to Q12022, reaching 16,226. Carriers selling on the platform, primarily on WebCargo, reached 37 in Q12023, up 19 percent year over year, the release added.
Freightos will share the first quarter results and Q2 2023 guidance toward the end of May.
