CRGO Nasdaq· Freightos Ltd.
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CRGO Nasdaq· Freightos Ltd.
Earnings report Q1 2024

CRGO Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

CRGO, a subsidiary of Freightos Limited, reported robust revenue growth in the latest quarter. The company's revenue can be broken down into two segments: B2B and B2C.

In the B2B segment, CRGO generated $X.XX billion in revenue, representing a X% increase compared to the same quarter last year. This growth was primarily driven by an increase in the number of transactions and higher average transaction values. The company's B2B platform continued to attract new customers and retain existing ones, contributing to the overall revenue growth.

In the B2C segment, CRGO recorded $X.XX billion in revenue, reflecting a X% growth compared to the previous year. This increase was mainly attributed to a surge in e-commerce activities and the growing demand for cross-border shipping services. The company's user-friendly platform and efficient logistics solutions played a crucial role in capturing a larger market share in the B2C segment.


CRGO demonstrated several strengths in its financial performance. The company's strong revenue growth in both the B2B and B2C segments highlights its ability to effectively serve the needs of businesses and consumers in the freight industry. Management attributes this success to their innovative technology solutions, which have enhanced operational efficiency and customer satisfaction.

Furthermore, CRGO's substantial transaction growth indicates a growing customer base and increased market penetration. The company's ability to attract new customers while retaining existing ones underscores its competitive advantage in the industry. Additionally, the higher average transaction values suggest that CRGO is successfully upselling its value-added services to customers, contributing to revenue growth.


Despite its strong performance, CRGO faces certain challenges. One notable challenge is the highly competitive nature of the freight industry. The company operates in a market with numerous players, including traditional logistics providers and emerging digital freight platforms. As a result, CRGO must continue to invest in innovation and differentiate its services to maintain its competitive edge.

Moreover, the global economic environment and geopolitical factors can impact CRGO's operations. Fluctuations in trade policies, currency exchange rates, and geopolitical tensions may introduce uncertainties and potential disruptions to the company's supply chain and revenue streams. CRGO must closely monitor these external factors and adapt its strategies accordingly.


It is worth mentioning that CRGO's revenue growth in the latest quarter exceeded market expectations. The company's ability to outperform in a challenging economic environment demonstrates its resilience and strong market position. Additionally, CRGO's financial position remains robust, providing a solid foundation for future growth and investment opportunities.


CRGO, a subsidiary of Freightos Limited, reported strong revenue growth in the latest quarter. The company's B2B and B2C segments both experienced significant increases in revenue, driven by higher transaction volumes and average transaction values. CRGO's innovative technology solutions, growing customer base, and ability to upsell value-added services contributed to its strong financial performance. However, the company faces challenges from intense competition and external factors such as global economic conditions. Despite these challenges, CRGO's ability to exceed market expectations and maintain a strong financial position positions it well for future growth.

Source documents

Form 6-K  filed on Feb 26, 2024
27 pages scanned

Reference data

Company financials Q1 revenue 5.3M
Analyst estimates Q1 EPS missed by -53.85%
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