Freightos Limited announced a new plan for operational efficiency, including cost-saving measures expected to improve Adjusted EBITDA by approximately $1.4 million per quarter beginning fourth quarter 2023, while allowing the company to reach profitability with existing cash on hand. Unfortunately, these measures also include making the difficult decision to reduce headcount by approximately 50 employees, or about 13% of the team. Despite the tough decision to part with teammates, the company is confident that these changes will position Freightos for sustainable success in the years ahead, through cyclical downturns and upturns, as the company continue to digitize global freight procurement for thousands of carriers, freight forwarders, and importers/exporters globally.
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5-day change | 1st Jan Change | ||
2.16 USD | -2.70% | -2.70% | -35.14% |
May. 20 | Freightos Limited Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
May. 20 | Transcript : Freightos Limited, Q1 2024 Earnings Call, May 20, 2024 |
Quarterly revenue - Rate of surprise
1st Jan change | Capi. | |
---|---|---|
-35.14% | 114M | |
-0.61% | 7.76B | |
+43.42% | 5.84B | |
+0.13% | 3.85B | |
+23.53% | 2.51B | |
+5.06% | 982M | |
-23.24% | 585M | |
-19.38% | 550M | |
-25.60% | 545M | |
-1.64% | 493M |
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