Freightos loses $19M, eyes profit breakthrough in late 2026 [Yahoo! Finance]
JAPAN AIRLINES UNSP/ADR (JAPSY)
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Source: Yahoo! Finance
The results follow losses of $14.6 million and $12.4 million in 2022 and 2021, respectively. In July, Freightos laid off 13% of its staff, or about 50 people, and implemented other cost controls. Jerusalem-based Freightos estimated it will narrow losses to about $14.5 million this year on revenue of about $23 million. But officials say growing interest in digital booking by carriers, freight forwarders and shippers, more variety of cargo types available to book, and a huge amount of latent demand will propel the FreightTech company into the future. CEO and founder Zvi Schreiber said during a briefing for analysts that the total addressable market by value for air, ocean and final-mile shipments transacted on the short-term market is $600 million, with the vast majority of transactions still executed through email and phone calls. Up to $300 million of that shipment value has the potential to be offered on freight marketplaces. Freightos makes money through a combination of flat f
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