Freightos Reports First Quarter 2026 Results

Freightos Reports First Quarter 2026 Results BARCELONA, Spain, May 26, 2026 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), the leading vendor-neutral global freight pricing, booking and procurement platform, today reported financial results for the quarter ended March 31, 2026.

"I'm honored to lead Freightos through this next phase as we continue focusing on long-term growth while maintaining disciplined execution and improving operational efficiency," said Pablo Pinillos, CEO and CFO of Freightos. "During the quarter, we continued executing against the strategic and operational priorities introduced earlier this year, including actions to improve efficiency, sharpen investment focus and strengthen our path toward adjusted EBITDA breakeven by the end of 2026. At the same time, the global freight environment remains challenging, with continued disruption across key trade corridors. Our updated outlook reflects those formidable, current market conditions and execution realities, which have led us to adjust our revenue guidance accordingly, while maintaining our adjusted EBITDA guidance. Our long-term strategy remains unchanged, and we continue to believe Freightos is well positioned as global freight increasingly shifts toward interconnected digital procurement and booking workflows."

First Quarter 2026 Financial Highlights

Recent Business Highlights

Financial Outlook

Management Expectations

Q2 2026

FY 2026

Transactions (k)

437 - 444

1,811 - 1,836

Year over Year Growth

10% - 12%

GBV ($m)

388 - 393

1,514 - 1,532

Year over Year Growth

23% - 24%

18% - 19%

Revenue ($m)

7.2 - 7.4

30.2 - 31.4

Year over Year Growth

-3% - 0%

3% - 6%

Adjusted EBITDA ($m)

(2.1) - (2.0)

(6.9) - (6.2)

This outlook assumes freight price levels and market freight volumes as of May 2026

Further financial details are included as an appendix below.

Earnings Webcast

Financial results for the first quarter 2026 will be reported before markets open on May 26, 2026. Freightos' management will host a webcast and conference call to discuss the results that morning at 8:30 a.m. EST.

https://freightos.zoom.us/webinar/register/WN_1zZnJSA_QvqlZugN6sgr2w#/registration

Following registration, you will be sent the link to the conference call which is accessible either via the Zoom app, or alternatively from a dial-in telephone number.

Questions may be submitted in advance to [email protected] or via Zoom during the call.

A replay of the webcast, as well as the conference call transcript, will be available on Freightos' Investor Relations website following the call.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which include the financial outlook of Freightos, are based on various assumptions, whether or not identified in this press release, and on the current expectations of Freightos, and are not predictions of actual performance. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Freightos. These forward-looking statements are subject to a number of risks and uncertainties, including: disruptions and instability caused by Freightos' CEO transition, changes to its board of directors, and its other leadership changes; disruptions to the international freight industry, including those caused by global economic trends and policy changes, such as increased tariffs and protectionist trade policies being implemented by the United States and other countries and their impact on shipping volume and, hence, number of Transactions, GBV and Platform revenue; ongoing and additional military conflicts in the Middle East, and their impact on the international shipping routes that including major air corridors and the Red Sea and Strait of Hormuz; competition; the ability of Freightos to build and maintain relationships with carriers, freight forwarders and importers/exporters; Freightos' ability to keep pace with rapid technological changes, particularly in artificial intelligence; changes in applicable laws or regulations; any downturn or volatility in economic conditions whether related to reduced international trade, inflation, armed conflict or otherwise; changes in the competitive environment affecting Freightos or its users, including Freightos' ability to introduce new products or technologies; risks to Freightos' ability to protect its intellectual property and avoid infringement by others, or claims of infringement against Freightos; and those additional factors discussed under "Item 3.D. Risk Factors" in Freightos' annual report on Form 20-F filed with the SEC on March 26, 2026, and any other risk factors Freightos includes in any subsequent reports of foreign private issuer on Form 6-K furnished to the SEC. If any of these risks materializes or Freightos' assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks of which Freightos is not aware presently or that Freightos currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect Freightos' expectations, plans or forecasts of future events and views as of the date of this press release. Freightos anticipates that subsequent events and developments will cause Freightos' assessments to change. However, while Freightos may elect to update these forward-looking statements at some point in the future, Freightos specifically disclaims any obligation to do so, except as may be required by law. These forward-looking statements should not be relied upon as representing Freightos' assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Financial Information; Non-IFRS Financial Measures

While certain financial figures included in this press release have been computed in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, this press release does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" nor a financial statement as defined by International Accounting Standards 1 "Presentation of Financial Statements".

This press release includes certain financial measures not presented in accordance with IFRS, including, but not limited to, Adjusted EBITDA. These non-IFRS measures differ from the most directly comparable measures determined under IFRS. For the historical non-IFRS results included herein, we have provided tables at the end of this press release providing a reconciliation of those results to our results achieved under the most directly comparable IFRS measures. For the forward-looking, non-IFRS data included under "Financial Outlook" (Adjusted EBITDA), we have not included the most directly comparable IFRS metric (i.e., IFRS loss), or a reconciliation between the two, because that IFRS data and that reconciliation cannot be prepared without unreasonable effort or with reasonable certainty. Our results and forecasts expressed as non-IFRS measures should not be considered in isolation or as an alternative to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under IFRS. You should be aware that the presentation of these measures may not be comparable to similarly-titled measures used by other companies. Freightos believes that Adjusted EBITDA and other non-IFRS measures provide useful information to investors and others in understanding and evaluating Freightos' operating results because they provide supplemental measures of our core operating performance and offer consistency and comparability with both our own past financial performance and with corresponding financial information provided by peer companies. These non-IFRS measures are presented to permit investors and others to more fully understand how management assesses our performance for internal planning and forecasting purposes.

Certain monetary amounts, percentages and other figures included in this press release have been subject to rounding adjustments, and therefore may not sum due to rounding.

GLOSSARY

We have provided below a glossary of certain terms used in this press release:

About Freightos

Freightos® (Nasdaq: CRGO) is the leading vendor-neutral global freight booking platform. Airlines, ocean carriers, thousands of freight forwarders, and well over ten thousand importers and exporters connect on Freightos, making world trade efficient, agile, and resilient.

The Freightos platform digitizes the trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments for businesses of all shapes and sizes around the globe. Products include Freightos Enterprise for multinational importers and exporters, Freightos Marketplace for small importers and exporters, WebCargo and 7LFreight by WebCargo for freight forwarders, WebCargo for Airlines, and Clearit, a digital customs broker.

Freightos is a leading provider of real-time industry data via Freightos Terminal, which includes the world's leading spot pricing indexes, Freightos Air Index (FAX) for air cargo and Freightos Baltic Index (FBX) for container shipping. Futures of FBX are traded on CME and SGX.

More information is available at freightos.com/investors

Contacts

Media:

Tamar Hartal

[email protected]

Investors:

Anat Earon-Heilborn

[email protected]

(in thousands)

March 31,

2026

December 31,

2025

(unaudited)

Assets

Current Assets:

Cash and cash equivalents

$ 8,763

$ 13,347

User funds

3,219

2,884

Trade receivables, net

3,541

3,773

Short-term bank deposit

14,731

14,546

Other receivables and prepaid expenses

1,357

1,559

31,611

36,109

Non-current Assets:

Property and equipment, net

275

284

Right-of-use assets, net

2,269

2,315

Intangible assets, net

6,109

6,792

Goodwill

14,759

14,809

Deferred taxes

557

560

Other long-term assets

1,808

1,827

25,777

26,587

Total assets

$ 57,388

$ 62,696

Liabilities and Equity

Current liabilities:

Current maturity of lease liabilities

$ 633

$ 627

Trade payables

3,564

5,103

User accounts

3,219

2,884

Warrants liabilities

2,524

2,223

Accrued expenses and other short-term liabilities

7,157

5,917

17,097

16,754

Long Term Liabilities:

Lease liabilities

1,663

1,745

Employee benefit liabilities, net

1,176

1,275

2,839

3,020

Equity:

Share capital

Share premium

267,687

266,583

Foreign currency translation reserve

175

288

Reserve from remeasurement of defined benefit plans

236

Accumulated deficit

(230,647)

(224,186)

Total equity

37,452

42,922

Total liabilities and equity

$ 57,388

$ 62,696

(in thousands, except share and per share data)

Three Months Ended

March 31,

2026

2025

(unaudited)

Revenue

$ 7,156

$ 6,945

Cost of revenue

2,388

2,306

Gross profit

4,768

4,639

Operating expenses:

Research and development

2,923

2,883

Selling and marketing

3,575

3,683

General and administrative

3,009

2,754

Reorganization

1,488

Total operating expenses

10,995

9,320

Operating loss

(6,227)

(4,681)

Change in fair value of warrants

(301)

(223)

Finance income

221

575

Finance expenses

(61)

(115)

Finance income, net

160

460

Loss before taxes on income

(6,368)

(4,444)

Income taxes, net

Loss

(6,461)

(4,499)

Other comprehensive income (loss) (net of tax effect):

Amounts that will be or that have been reclassified to profit or

loss when specific conditions are met:

Adjustments arising from translating financial statements of

foreign operations

(113)

190

Total comprehensive loss

$ (6,574)

$ (4,309)

Basic and diluted loss per Ordinary share

$ (0.13)

$ (0.09)

Weighted average number of shares outstanding used to

compute basic and diluted loss per share

51,527,502

49,881,927

(in thousands)

Three Months Ended

March 31,

2026

2025

(unaudited)

Cash flows from operating activities:

Loss

$ (6,461)

$ (4,499)

Adjustments to reconcile net loss to net cash used in operating

activities:

Adjustments to profit or loss items:

Depreciation and amortization

842

938

Change in fair value of warrants

301

223

Share-based compensation

1,061

697

Finance income, net

(160)

(460)

Income taxes, net

2,137

1,453

Changes in asset and liability items:

Decrease (increase) in user funds

(354)

1,168

Increase (decrease) in user accounts

354

(1,168)

Decrease (increase) in other receivables and prepaid expenses

105

(234)

Decrease (increase) in trade receivables

181

(701)

Increase (decrease) in trade payables

(1,510)

2,936

Increase (decrease) in accrued severance pay, net

(115)

Increase (decrease) in accrued expenses and other short-term

liabilities

1,089

(354)

(250)

1,696

Cash received during the period for:

Interest received, net

1,533

Taxes received, net

107

111

1,640

Net cash provided by (used in) operating activities

(4,463)

290

Cash flows from investing activities:

Purchase of property and equipment

(17)

(16)

Proceeds from sale of property and equipment

Investment in long-term deposits

(118)

Withdrawal of long-term deposits

Withdrawal of short-term bank deposit

26,000

Net cash provided by (used in) investing activities

(11)

25,891

Cash flows from financing activities:

Repayment of lease liabilities

(219)

(151)

Exercise of options

264

Net cash provided by (used in) financing activities

(176)

113

Exchange differences on balances of cash and cash equivalents

Gains from translation of cash and cash equivalents of foreign

activity

Increase (decrease) in cash and cash equivalents

(4,584)

26,319

Cash and cash equivalents at the beginning of the period

13,347

10,118

Cash and cash equivalents at the end of the period

$ 8,763

$ 36,437

(a) Significant non-cash transactions:

Right-of-use asset recognized with corresponding lease liability

$ 159

$ 1,110

(in thousands, except gross margin data)

Three Months Ended

March 31,

2026

2025

(unaudited)

IFRS gross profit

$ 4,768

$ 4,639

Add:

Share-based compensation

104

Depreciation and amortization

390

383

Non-IFRS gross profit

$ 5,262

$ 5,120

IFRS gross margin

66.6 %

66.8 %

Non-IFRS gross margin

73.5 %

73.7 %

(in thousands , except adjusted EBITDA margin data)

Three Months Ended

March 31,

2026

2025

(unaudited)

IFRS loss

$ (6,461)

$ (4,499)

Add:

Change in fair value of warrants

301

223

Finance income, net

(160)

(460)

Income taxes, net

Share-based compensation

1,061

697

Depreciation and amortization

842

938

Reorganization

1,488

Adjusted EBITDA

$ (2,836)

$ (3,046)

Loss margin (under IFRS)

-90 %

-65 %

Adjusted EBITDA margin

-40 %

-44 %

(in thousands, except share and per share data)

Three Months Ended

March 31,

2026

2025

(unaudited)

IFRS loss

$ (6,461)

$ (4,499)

Add:

Share-based compensation

1,061

697

Depreciation and amortization

842

938

Reorganization

1,488

Change in fair value of warrants

301

223

Non IFRS loss

$ (2,769)

$ (2,641)

Non IFRS basic and diluted loss per Ordinary share

$ (0.05)

Weighted average number of shares outstanding

used to compute basic and diluted loss per share

51,527,502

49,881,927

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SOURCE Freightos