Transactions on Freightos Platform continue streak of 13
record quarters, confirming again sustainable marketplace growth
flywheel. Carriers providing marketplace supply diversify and
expand to 37. Freightos achieved close to 60% IFRS gross margins
(65% non-IFRS) and introduces Q2 guidance predicting another record
quarter of Transactions.
JERUSALEM, May 23, 2023
/PRNewswire/ -- Freightos Limited (Nasdaq: CRGO), a leading
vendor-neutral booking and payment platform for the international
freight industry, today reported financial results for the quarter
ended March 31, 2023.
"The first quarter of 2023 set yet another record number of
Transactions on the Freightos platform. Growth continued despite
the headwinds from a contracting global freight market. There are
indications that this contraction has bottomed out with Freightos
Baltic Index FBX01, which tracks container shipping costs from
China to the West Coast of
the United States, now up 50% from
the first quarter low," said Zvi
Schreiber, founder and CEO. "We continue to see strong
profit margins and positive unit economics as our ecosystem
encompasses more buyers and freight service providers than ever,
including a 29% year-over-year increase in the number of unique
buyer users."
"We're pleased to reaffirm our 2023 guidance as it relates to
Revenue, Adjusted EBITDA and Transactions, while the ultimate Gross
Bookings Value (GBV) of the Transactions will depend on freight
market price levels," said Ran Shalev, CFO. "Taking into account
market conditions, we continue to invest in growth while carefully
monitoring spending, both in terms of hirings and expenses, and
have already taken actions to reduce full-year spending. Our
Adjusted EBITDA losses primarily reflect our investments in R&D
and new customer acquisition which we believe will pay off
handsomely given our strong retention and high-margin positive unit
economics. Despite increased public company expenses in the second
quarter relative to the first quarter, our cash burn is expected to
stay roughly flat and we expect to see cash burn decline as
revenues increase."
"Global freight's digitalization is continuing at the rapid pace
we've been witnessing since 2019," continued Zvi Schreiber. "We're seeing strong, persistent
adoption of instant digital bookings that span the entire freight
procurement lifecycle, from manufacturers to forwarders to
carriers, as well as indicators that our market share in our
fastest growing segment, air cargo eBookings, continues to expand.
In addition, we're seeing positive initial growth in both our
payment and data solutions, which help us to continue to grow
revenue. I'm proud that we're continuously innovating in areas like
our Transportation Management Systems integrations, which makes our
platform stickier, while introducing new sales channels, such as
Freightos Terminal, which is being well received and generates high
profit margins."
FY Q1 2023 financial highlights
- Revenue of $4.8 million for Q1
2023, an increase of 9.9% compared to Q1 2022, or 11.3% on a
constant currency basis.
- IFRS Gross Margin of 58.3%, compared to 61.7% in Q1 2022.
Non-IFRS Adjusted Gross Margin of 65.0%, compared to 66.5% in Q1
2022.
- IFRS operating loss of $58.0
million, compared to a loss of $4.2
million in Q1 2022, primarily due to a one-time non-cash
share listing charge of $46.7 million
incurred upon the business combination with Gesher I Acquisition
Corp (see Adjusted EBITDA below).
- IFRS loss per basic and diluted share of $1.38 compared to IFRS net loss per basic and
diluted share of $0.86 in Q1 2022,
while non-IFRS net loss per basic and diluted share of $0.17, compared to non-IFRS net loss per basic
and diluted share of $0.73 in Q1
2022.
- Adjusted EBITDA in Q1 2023 of negative $5.8 million, compared to negative $3.3 million in Q1 2022 due to public company
costs and increased investment in growth.
Recent business highlights
- Transaction Growth: Freightos achieved a record 229
thousand Transactions, up 100% year over year, and GBV (Gross
Booking Value) of $168.7 million.
This represents the 13th consecutive quarter of record platform
Transactions.
- Take Rate: Freightos continues to invest in increasing
its take rate as it adds more value across the ecosystem. During
2023, take rates on the highest-growth segment, air cargo bookings,
continued to grow as the robustness and value of the network grow,
increasing significantly.
- Unique Buyer Users: The number of unique buyer users
digitally booking freight services across the Freightos Platform
grew 29% compared to Q1 2022, reaching 16 thousand.
- Carrier Growth: Carriers selling on the platform,
primarily on WebCargo, reached 37 in Q1 2023, up 19% year over
year. To date, carriers available on the platform represent
approximately 57% of global cargo capacity. During 2023, carriers
represented on the platform have grown more diverse with JetBlue
launching domestic air cargo bookings on WebCargo via AeroNex, and
the launch of a number of Chinese masterloaders.
- Freightos Terminal Launch: Freightos Terminal, a
real-time global freight market intelligence solution, was launched
in May 2023 after an extensive beta
period. Terminal combines air and ocean pricing and transit times
on an individual lane level, with Freightos Air Index (FAX) and
Freightos Baltic Index (FBX), and push notifications on
market-moving global freight events. Freightos data solutions are
already used by companies like ABInBev, Daimler, Amazon, UPS,
Cummins and others.
- Freightos.com Enterprise: Following a successful pilot,
Electrolux, a global leader in home appliances, announced a new
partnership with Freightos to improve its freight booking process
across its forwarders and carriers. The pilot demonstrated
significant cost savings for Electrolux, as well as reduced booking
timelines. Freightos is now in the process of offering the same
solution to other global manufacturers and retailers.
- Channel Integrations: Freight forwarders and software
providers continued to leverage WebCargo and Freightos within their
platforms in order to take advantage of real-time pricing, booking
and sales within their existing tool stack. This channel sales
approach has accelerated in 2023, with WebCargo integrations with a
number of Transportation Management Systems (TMSs), including
Neurored, Xinerji, CargoSoft, dbh and others, thereby embedding the
Freightos Platform in the transactional infrastructure of the
industry.
- Payments: While still early days, Freightos
continues to make strong progress on payments, with air cargo
payments conducted using our solution growing over 30% since Q4
2022. The payments team has also expanded, including bringing on a
seasoned financial executive to spearhead these efforts. Freightos
expects payments to be an important part of our growing
monetization in the future.
Financial
outlook
|
|
|
|
Management
Expectations
|
|
|
Q2
2023
|
FY 2023 as of
Q2
|
|
|
|
#
Transactions
|
239,500 -
244,500
|
1,024,500 -
1,115,500
|
Year over Year
Growth
|
109% -
113%
|
53% -
67%
|
GBV ($m)
|
$ 159.1 - $
162.4
|
$ 694.5 - $
739.8
|
Year over Year
Growth
|
26% -
29%
|
14% -
21%
|
Revenue ($m)
|
$ 5.0 - $
5.2
|
$ 22.3 - $
23.6
|
Year over Year
Growth
|
9% -
13%
|
15% -
22%
|
Adjusted EBITDA
($m)
|
$ (6.0) - $
(5.7)
|
$ (24.6) - $
(21.2)
|
This outlook assumes current currency exchange rates, freight
price levels and freight volumes. GBV expectations were updated to
reflect current freight price levels, while other expectations are
unchanged from last quarter.
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 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 provided for illustrative purposes
only and 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
competition and the ability of Freightos to build and maintain
relationships with carriers, freight forwarders and
importers/exporters and retain its management and key employees;
changes in applicable laws or regulations; any downturn or
volatility in economic conditions whether related to inflation,
armed conflict or otherwise; the effects of COVID-19 or other
pandemics or epidemics; changes in the competitive environment
affecting Freightos or its users, including Freightos' inability 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; the
possibility that Freightos may be adversely affected by other
economic, business and/or competitive factors; risks related to the
fact that Freightos is incorporated in the Cayman Islands and governed by the laws of the
Cayman Islands; and those factors
discussed in Freightos' annual report on Form 20-F filed with the
SEC on March 30, 2023, under the
heading "Risk Factors," and any other risk factors Freightos
includes in any subsequent reports on Form 6-K furnished to the
SEC. If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Freightos does not presently know or that
Freightos currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, 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. 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". Not all of the financial information in this press
release has been audited.
This press release includes revenue on a constant currency
basis, a measure not presented in accordance with IFRS and certain
financial measures not presented in accordance with generally
accepted accounting principles ("IFRS") including, but not limited
to, Adjusted EBITDA. These 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 revenue
on a constant currency basis, 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 offers consistency and comparability with both past
financial performance and with financial information of peer
companies. Certain monetary amounts, percentages and other figures
included in this press release have been subject to rounding
adjustments. Certain other amounts that appear in this press
release may not sum due to rounding.
Definitions
- Carriers: Number of unique air and ocean carriers
who have been sellers of transactions. For airlines, we count the
booking carrier, which includes separate airlines within the same
carrier group. We do not count dozens of other airlines that
operate individual segments of air cargo transactions as we do not
have a direct booking relationship with them. Carriers include
ocean less-than-container load (LCL) consolidators. In addition, we
only count carries when more than five bookings were placed with
them over the course of a quarter.
- Unique buyer users: Unique buyer users represent
the number of individual users placing bookings, typically counted
based on unique email logins. The number of buyers, which counts
unique customer businesses, does not reflect the fact that some
buyers are large multinational organizations while others are small
or midsize businesses. Therefore, we find it more useful to monitor
the number of unique buyer users than the number of buyer
businesses.
- Constant Currency: Comparative information calculated by
translating Freightos' current period financial results using the
prior period's monthly exchange rates (or other applicable rates,
as indicated).
- GBV: Total value of transactions on the Freightos
platform, which is the monetary value of freight and related
services contracted between buyers and sellers on the Freightos
platform, plus related fees charged to buyers and sellers, and
pass-through payments such as duties. GBV is converted to U.S.
dollars at the time of each transaction on the Freightos platform.
This metric may be similar to what others call gross merchandise
value (GMV) or gross services volume (GSV). We believe that this
metric reflects the scale of the Freightos platform and our
opportunities to generate platform revenue.
- #Transactions: Number of bookings for freight
services, and related services, placed by buyers across the
Freightos platform with third-party sellers and with Clearit.
Beginning in the third quarter of 2022, #Transactions include
trucking bookings, which were added to the Freightos platform
following the acquisition of 7LFreight. The number of transactions
booked on the Freightos platform in any given time period is net of
transactions canceled during the same time period.
- Adjusted EBITDA: Adjusted EBITDA represents net
loss before income taxes, finance income, finance expense,
share-based compensation expense, depreciation and amortization,
changes in the fair value of contingent consideration, operating
expense settled by issuance of shares, redomicile costs, share
listing expense, change in fair value of warrants and
transaction-related costs and non-recurring expenses associated
with the business combination with Gesher I Acquisition Corp.
Earnings Webcast
Freightos will hold a public webcast at 8:30 a.m. EDT on May 23,
2023 to discuss the results for its Q1 2023 and financial
outlook. The live call may be accessed via Zoom or a dial in
number. An archived webcast can be accessed from Freightos'
Investor Relations website following the call. To register for this
conference call, please use this link. Registrants will receive
confirmation with dial-in details.
Contacts
Media:
Tali Aronsky
press@freightos.com
Investors:
Eytan
Buchman
ir@freightos.com
About Freightos Limited
Freightos® operates a leading, vendor-neutral booking
and payment platform for international freight. Freightos' platform
supports supply chain efficiency and agility by enabling real-time
procurement of ocean and air shipping across more than ten thousand
importers/exporters, thousands of forwarders, and dozens of
airlines and ocean carriers.
Freightos.com is a premier digital international freight
marketplace for importers and exporters for instant pricing,
booking, and shipment management. Thousands of SMBs and enterprises
have sourced shipping services via Freightos across dozens of
logistics service providers.
WebCargo® by Freightos is a leading global freight
platform connecting carriers and forwarders. In particular, it is
the largest air cargo eBooking platform, enabling simple and
efficient freight pricing and booking between thousands of freight
forwarders, including the top twenty global freight forwarders, and
hundreds of airlines, ocean liners and trucking carriers. Airlines
on the platform represent over a third of global air cargo
capacity. WebCargo also offers software as a service for forwarders
to facilitate digital freight rate management, quoting, and online
sales.
Freightos Data calculates the Freightos Baltic Index, the
industry's key daily benchmark of container shipping prices, the
Freightos Air Index, as well as other market intelligence products
that improve supply chain decision-making, planning, and pricing
transparency.
Freightos is a widely recognized logistics technology leader
with a worldwide presence and a broad customer network.
Incorporated in the Cayman Islands
with offices around the world, Freightos is a Nasdaq-listed company
trading under Nasdaq:CRGO. More information is available at
freightos.com/investors.
CONSOLIDATED BALANCE SHEETS
(In
thousands)
|
|
|
|
|
|
|
March
31,
2023
|
December
31,
2022
|
|
(unaudited)
|
(audited)
|
Assets
|
|
|
Current
Assets:
|
|
|
Cash and cash
equivalents
|
$
46,778
|
$
6,492
|
User funds
|
3,309
|
3,328
|
Trade receivables,
net
|
2,390
|
1,936
|
Short term bank
deposit
|
20,160
|
-
|
Other receivables and
prepaid expenses
|
953
|
1,215
|
|
73,590
|
12,971
|
|
|
|
Non-current
Assets
|
|
|
Property and equipment,
net
|
746
|
767
|
Right-of-use assets,
net
|
1,210
|
1,384
|
Intangible assets,
net
|
9,051
|
9,465
|
Goodwill
|
15,628
|
15,628
|
Deferred
taxes
|
603
|
573
|
Other long-term
assets
|
1,682
|
1,018
|
|
28,920
|
28,835
|
|
|
|
Total assets
|
$
102,510
|
$
41,806
|
|
|
|
Liabilities and
Equity
|
|
|
Current
liabilities:
|
|
|
Short-term bank loan
and credit
|
$ -
|
$ 2,505
|
Trade
payables
|
4,107
|
3,234
|
User
accounts
|
3,309
|
3,328
|
Current maturity of
lease liabilities
|
611
|
613
|
Accrued expenses and
other payables
|
5,627
|
7,400
|
|
13,654
|
17,080
|
|
|
|
Long Term
Liabilities:
|
|
|
Lease
liabilities
|
254
|
395
|
Employee benefit
liabilities, net
|
1,281
|
1,294
|
Warrants
liability
|
2,968
|
-
|
Other long-term
liabilities
|
1,404
|
1,377
|
|
5,907
|
3,066
|
|
|
|
Equity:
|
|
|
Share
capital
|
*)
|
*)
|
Share
premium
|
250,805
|
140,229
|
Reserve from
remeasurement of defined benefit plans
|
137
|
137
|
Accumulated
deficit
|
(167,993)
|
(118,706)
|
Total equity
|
82,949
|
21,660
|
|
|
|
Total liabilities and
equity
|
$
102,510
|
$
41,806
|
|
|
|
*) Represents an amount
lower than $1.
|
|
|
CONSOLIDATED STATEMENTS OF
OPERATIONS
(in thousands, except
share and per share data)
|
|
|
Three Months
Ended
|
|
March
31,
|
|
2023
|
2022
|
|
(unaudited)
|
(unaudited)
|
Revenue
|
$
4,823
|
$
4,389
|
Cost of
revenue
|
2,013
|
1,683
|
Gross profit
|
2,810
|
2,706
|
Operating
expenses:
|
|
|
Research and
development
|
2,997
|
2,474
|
Selling and
marketing
|
3,620
|
2,231
|
General and
administrative
|
3,733
|
2,183
|
Transaction-related
costs
|
3,703
|
-
|
Share listing
expense (1)
|
46,717
|
-
|
Total operating
expenses
|
60,770
|
6,888
|
Operating
loss
|
(57,960)
|
(4,182)
|
Change in fair value of
warrants
|
7,957
|
-
|
Finance
income
|
852
|
61
|
Finance
expenses
|
(133)
|
(134)
|
Financing income
(expenses), net
|
719
|
(73)
|
Loss before taxes on
income
|
(49,284)
|
(4,255)
|
Income taxes (tax
benefit)
|
3
|
(13)
|
Loss
|
$
(49,287)
|
$
(4,242)
|
Other comprehensive
loss (net of tax effect):
|
|
|
Remeasurement loss from
defined benefit plans
|
-
|
-
|
Total components that
will not be reclassified subsequently to profit or loss
|
-
|
-
|
Total comprehensive
loss
|
$
(49,287)
|
$
(4,242)
|
Basic and diluted loss
per Ordinary share
|
$
(1.38)
|
$
(0.86)
|
Weighted average number
of shares outstanding used to compute basic and
diluted loss per
share
|
36,231,234
|
7,417,203
|
|
|
|
(1) Represents
non-recurring, non-cash share-based listing expense incurred in
connection with the business combination with Gesher I Acquisition
Corp.
|
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in
thousands)
|
|
|
Three Month
Ended
|
|
March
31,
|
|
2023
|
2022
|
|
(unaudited)
|
(unaudited)
|
Cash flows from
operating activities:
|
|
|
Loss
|
$
(49,287)
|
$
(4,242)
|
Adjustments to
reconcile net loss to net cash used in operating
activities:
|
|
|
Adjustments to profit
or loss items:
|
|
|
Depreciation and
amortization
|
643
|
521
|
Share listing
expense
|
46,717
|
-
|
Change in fair value of
warrants
|
(7,957)
|
-
|
Changes in the fair
value of contingent consideration
|
(258)
|
127
|
Share-based
compensation
|
582
|
358
|
Finance income ,
net
|
(461)
|
(54)
|
Income taxes (tax
benefit)
|
3
|
(13)
|
|
39,269
|
939
|
Changes in asset and
liability items:
|
|
|
Decrease in user
funds
|
26
|
236
|
Decrease in user
accounts
|
(26)
|
(236)
|
Decrease (increase) in
other receivables and prepaid expenses
|
70
|
(342)
|
Decrease (increase) in
trade receivables
|
(452)
|
70
|
Increase in trade
payables
|
926
|
392
|
Decrease in accrued
severance pay, net
|
(5)
|
(15)
|
Decrease in accrued
expenses and other payables
|
(3,244)
|
(215)
|
|
(2,705)
|
(110)
|
Cash received during
the year for:
|
|
|
Interest received,
net
|
359
|
24
|
Taxes paid
|
-
|
-
|
|
359
|
24
|
Net cash used in
operating activities
|
(12,364)
|
(3,389)
|
Cash flows from
investing activities:
|
|
|
Purchase of property
and equipment
|
(46)
|
(80)
|
Proceeds from sale of
property and equipment
|
1
|
1
|
Acquisition of a
subsidiary, net of cash acquired (a)
|
-
|
(4,183)
|
Payment of payables for
previous acquisition of a subsidiary
|
(136)
|
(156)
|
Investment in long-term
assets
|
(453)
|
(182)
|
Investment in
short-term bank deposits
|
(20,000)
|
-
|
Net cash used in
investing activities
|
(20,634)
|
(4,600)
|
Cash flows from
financing activities:
|
|
|
Proceeds from the
issuance of share capital and warrants net of transaction
costs
|
76,044
|
-
|
Repayment of lease
liabilities
|
(140)
|
(128)
|
Repayment of short-term
bank loan and credit
|
(2,504)
|
-
|
Exercise of
options
|
19
|
21
|
Net cash provided by
(used in) financing activities
|
73,419
|
(107)
|
Exchange differences on
balances of cash and cash equivalents
|
(135)
|
(80)
|
Increase (decrease) in
cash and cash equivalents
|
40,286
|
(8,176)
|
Cash and cash
equivalents at the beginning of the period
|
6,492
|
25,079
|
Cash and cash
equivalents at the end of the period
|
$
46,778
|
$
16,903
|
(a) Acquisition of an
initially consolidated subsidiary:
|
|
|
Working capital
(excluding cash and cash equivalents)
|
$ -
|
$
(992)
|
Other
receivables
|
-
|
163
|
Property and
equipment
|
-
|
12
|
Intangible
assets
|
-
|
5,734
|
Goodwill
|
-
|
7,607
|
Shares
issued
|
-
|
(6,573)
|
Contingent
consideration
|
-
|
(1,768)
|
Acquisition of a
subsidiary, net of cash acquired
|
$ -
|
$
4,183
|
(b) Significant
non-cash transactions:
|
|
|
Right-of-use asset
recognized with corresponding lease liability
|
$ -
|
$ 74
|
Issuance of shares for
previous acquisition of a subsidiary
|
$ 113
|
-
|
|
|
|
RECONCILIATION OF IFRS TO NON-IFRS GROSS
PROFIT
(in thousands, except
gross margin data)
|
|
|
Three Month
Ended
|
|
March
31,
|
|
2023
|
2022
|
|
(unaudited)
|
IFRS gross
profit
|
$
2,810
|
$
2,706
|
Add:
|
|
|
Share-based
compensation
|
82
|
34
|
Depreciation &
Amortization
|
242
|
180
|
Non-IFRS gross
profit
|
$
3,134
|
$
2,920
|
IFRS gross
margin
|
58.3 %
|
61.7 %
|
Non-IFRS gross
margin
|
65.0 %
|
66.5 %
|
RECONCILIATION OF IFRS OPERATING LOSS TO ADJUSTED
EBITDA
(in
thousands)
|
|
|
Three Month
Ended
|
|
March
31,
|
|
2023
|
2022
|
|
(unaudited)
|
|
|
|
Operating
loss
|
$
(57,960)
|
$
(4,182)
|
Add:
|
|
|
Share-based
compensation
|
582
|
358
|
Depreciation &
Amortization
|
643
|
521
|
Share listing
expense
|
46,717
|
-
|
Non-recurring
expenses
|
499
|
-
|
Transaction-related
costs
|
3,703
|
-
|
Adjusted
EBITDA
|
$
(5,816)
|
$
(3,303)
|
Adjusted EBITDA
margins
|
(121) %
|
(75) %
|
RECONCILIATION OF IFRS LOSS TO NON-IFRS LOSS AND LOSS
PER SHARE
(in thousands, except
share and per share data)
|
|
|
Three Month
Ended
|
|
March
31,
|
|
2023
|
2022
|
|
(unaudited)
|
IFRS loss attributable
to ordinary shareholders
|
$
(49,287)
|
$
(4,242)
|
Add:
|
|
|
Share-based
compensation
|
582
|
358
|
Depreciation &
Amortization
|
643
|
521
|
Share listing
expense
|
46,717
|
-
|
Non-recurring
expenses
|
499
|
-
|
Transaction-related
costs
|
3,703
|
-
|
Changes in the fair
value of contingent consideration
|
(258)
|
127
|
Change in fair value of
warrants
|
(7,957)
|
-
|
Non IFRS
loss
|
$
(5,358)
|
$
(3,236)
|
Non IFRS Basic and
diluted loss per Ordinary share
|
$
(0.17)
|
$
(0.73)
|
Weighted average number
of shares outstanding
used to compute basic
and diluted loss per share
|
36,231,234
|
7,417,203
|
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SOURCE Freightos