Shares of Freightos Limited (NASDAQ: CRGO) sustained the upward momentum on Tuesday, rising 2.04% to conclude at $4.00 resulting in a 5-day rise of more than 32%. The stock also boasts an impressive ST score of 50 on our screener within the Integrated Freight & Logistics industry.
Notably, peer stocks such as ZTO and FDX hold even higher ST scores. Explore a comprehensive list of other high-performing stocks in the same industry by visiting our screener at the link. This impressive rally was driven by the company’s announcement of record quarterly transactions and the largest increase in carrier additions in its history.
Strong Performance in Q4 2024
For the first quarter of 2024 and the whole fiscal year, Freightos released impressive preliminary key performance indicators (KPIs). With 350,000 transactions handled throughout the quarter—a 22% increase over the same period last year—the firm accomplished its 20th straight quarter of record-breaking transactions.
This result surpassed management’s expectations and signaled a sustained increase in network expansion and platform utilization. The company’s ability to attract both regional and niche carriers, combined with growing activity from existing users, played a significant role in this achievement.
Expansion of Carrier Network
In addition to the strong transaction numbers, Freightos saw substantial growth in its carrier network. In Q4 2024, CRGO added 22 new carriers, increasing the total to 67 from Q4 2023’s 45 and Q3 2024’s 55.
With an emphasis on regional and niche air cargo carriers who cater to niche markets and developing trade routes, this represents the company’s biggest growth to date. Freightos’ dedication to broadening its product line and improving its worldwide presence is seen by this calculated growth.
Impressive Transaction Value and Market Growth
The value of transactions processed through Freightos, known as Gross Booking Value (GBV), reached $280 million in Q4, reflecting a 50% year-over-year increase. This performance puts CRGO on track for an annual GBV run rate of over one billion dollars, driven by robust transaction growth and sustained high market rates.
The strong carrier additions and the 14% increase in unique buyer users to approximately 20,100 underscore the platform’s growing reach and relevance in the digital freight market.
