Freightos Reports Fourth Quarter and Full Year 2025 Results

BARCELONA, Spain, Feb. 23, 2026 /PRNewswire/ - Freightos Limited (NASDAQ: CRGO), the leading vendor-neutral digital booking and payment platform for the international freight industry, today reported financial results for the quarter and year ended December 31, 2025.

"We delivered fourth quarter results in line with guidance. For full year 2025, revenue grew 24%, and although foreign exchange headwinds pressured Adjusted EBITDA from the second quarter onward, our burn rate was unaffected and we ended the year with a cash position that fully funds our plans and enables us to reach breakeven by the end of 2026 as anticipated. Despite the ongoing instability of the global trade ecosystem, we've now met or exceeded guidance every quarter in our three years as a public company," said Pablo Pinillos, CFO and Interim CEO of Freightos.

"2026 is a transition year in which we are deliberately sequencing our growth," he continued. "We're focusing resources on our solution adoption - when our software is embedded in customers' daily workflows, platform bookings follow naturally and our network effects compound. Strengthening that solution base positions us for higher growth in 2027 and beyond. Our mission to digitalize global freight is unchanged, and we enter this phase well capitalized and focused on execution."

Fourth Quarter 2025 Financial Highlights

Full Year 2025 Financial Highlights

Recent Business Highlights

Financial Outlook

Management Expectations

Q1 2026

FY 2026

Transactions (k)

446 - 451

1,937 - 1,975

Year over Year Growth

20% - 22%

18% - 20%

GBV ($m)

335 - 341

1,514 - 1,537

Year over Year Growth

21% - 23%

18% - 20%

Revenue ($m)

7.4 - 7.5

31.2 - 32.8

Year over Year Growth

7% - 9%

6% - 12%

Adjusted EBITDA ($m)

(2.9) - (2.8)

(6.9) - (6.2)

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

Further financial details are included as an appendix below.

Earnings Webcast

Freightos' management will host a webcast and conference call to discuss the results today, February 23, 2026 at 8:30 a.m. EST. To participate in the call, please register at the following link: https://freightos.zoom.us/webinar/register/WN_iuCRJ6czR-aLZ1GwSm7kTw

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; Freightos' ability to continue to successfully integrate the Shipsta business without disruption to its business; the threat of additional military conflicts in the Middle East, and their impact on the international shipping routes that run through 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; Freightos' ability to retain its management and key employees, particularly in light of its CEO transition; 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 24, 2025, 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 our 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. 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".

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", we have not included such a reconciliation, because the reconciliation of forward-looking data cannot be prepared without unreasonable effort. 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:

Tali Aronsky

[email protected]

Investors:

Anat Earon-Heilborn

[email protected]

CONSOLIDATED BALANCE SHEETS

(in thousands)

December 31, 2025

December 31, 2024

(unaudited)

Assets

Current Assets:

Cash and cash equivalents

$ 13,347

$ 10,118

User funds

2,884

4,494

Trade receivables, net

3,773

3,057

Short-term bank deposit

14,546

27,153

Other receivables and prepaid expenses

1,559

1,281

36,109

46,103

Non-current Assets:

Property and equipment, net

284

420

Right-of-use assets, net

2,315

1,191

Intangible assets, net

6,792

8,852

Goodwill

14,809

15,040

Deferred taxes

560

536

Other long-term assets

1,827

1,637

26,587

27,676

Total assets

$ 62,696

$ 73,779

Liabilities and Equity

Current liabilities:

Current maturity of lease liabilities

$ 627

$ 615

Trade payables

5,103

2,731

User accounts

2,884

4,494

Warrants liabilities

2,223

2,450

Accrued expenses and other short-term liabilities

5,917

7,023

16,754

17,313

Long Term Liabilities:

Lease liabilities

1,745

339

Employee benefit liabilities, net

1,275

1,239

3,020

1,578

Equity:

Share capital

Share premium

266,583

261,769

Foreign currency translation reserve

288

(307)

Reserve from remeasurement of defined benefit plans

236

Accumulated deficit

(224,186)

(206,670)

Total equity

42,922

54,888

Total liabilities and equity

$ 62,696

$ 73,779

*) Represents an amount lower than $1.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

Three Months Ended

Twelve months Ended

December 31,

2025

2024

2025

2024

(unaudited)

Revenue

$ 7,405

$ 6,587

$ 29,460

$ 23,785

Cost of revenue

2,658

2,134

9,777

8,285

Gross profit

4,747

4,453

19,683

15,500

Operating expenses:

Research and development

3,186

2,817

11,942

10,275

Selling and marketing

3,947

3,688

15,203

13,880

General and administrative

3,237

5,985

11,694

14,292

Total operating expenses

10,370

12,490

38,839

38,447

Operating loss

(5,623)

(8,037)

(19,156)

(22,947)

Change in fair value of warrants

1,489

(1,410)

227

(965)

Finance income

441

282

1,827

2,211

Finance expenses

(61)

(23)

(268)

(178)

Financing income, net

380

259

1,559

2,033

Loss before taxes on income

(3,754)

(9,188)

(17,370)

(21,879)

Income taxes, net

649

146

612

Loss

(3,777)

(9,837)

(17,516)

(22,491)

Other comprehensive income (net of tax effect):

Remeasurement gain (loss) from defined benefit

plans

140

Adjustments arising from translating financial

statements of foreign operations

(35)

(396)

595

(307)

Total comprehensive loss

$ (3,672)

$ (10,164)

$ (16,781)

$ (22,729)

Basic and diluted loss per Ordinary share

$ (0.07)

$ (0.20)

$ (0.35)

$ (0.46)

Weighted average number of shares outstanding

used to compute basic and diluted loss per share

51,214,592

49,344,367

50,573,461

48,579,804

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months Ended

Twelve months Ended

December 31,

2025

2024

2025

2024

(unaudited)

Cash flows from operating activities:

Loss

$ (3,777)

$ (9,837)

$ (17,516)

$ (22,491)

Adjustments to reconcile net loss to net cash

used in operating activities:

Adjustments to profit or loss items:

Depreciation and amortization

843

870

3,449

3,083

Impairment of goodwill

3,000

Change in fair value of warrants

(1,489)

1,410

(227)

965

Changes in the fair value of contingent consideration

(6)

Share-based compensation

1,953

1,049

4,306

3,625

Operating expense settled by issuance of

351

Finance income, net

(380)

(259)

(1,559)

(2,027)

Income taxes, net

649

146

612

950

6,719

6,115

9,603

Changes in asset and liability items:

Decrease (increase) in user funds

188

(74)

1,674

(968)

Increase (decrease) in user accounts

(188)

(1,674)

968

Decrease in other receivables and prepaid

expenses

412

391

Decrease (increase) in trade receivables

498

(184)

(521)

(920)

Decrease in other long-term assets

Increase (decrease) in trade payables

(249)

(1,375)

2,294

(957)

Increase (decrease) in accrued severance pay,

net

(36)

(18)

(7)

Increase (decrease) in accrued expenses and

other short-term liabilities

(762)

(187)

(1,150)

336

(137)

(1,373)

782

(1,511)

Cash received (paid) during the period for:

Interest received, net

1,791

2,642

Taxes paid, net

(48)

(137)

(40)

(343)

(38)

1,751

2,299

Net cash used in operating activities

(2,951)

(4,529)

(8,868)

(12,100)

Cash flows from investing activities:

Purchase of property and equipment

(18)

(16)

(135)

(48)

Proceeds from sale of property and equipment

Acquisition of a subsidiary, net of cash acquired

(a)

(3,350)

Investment in long-term deposits

(75)

(52)

(378)

(70)

Withdrawal of long-term deposits

116

Withdrawal of (investment in) short-term bank

deposit, net

12,000

(6,000)

Withdrawal of short-term investments, net

11,520

Net cash provided by (used in) investing

activities

(93)

(68)

11,629

2,078

Cash flows from financing activities:

Repayment of lease liabilities

(177)

(208)

(704)

(629)

Exercise of options

411

682

714

Net cash provided by (used in) financing

activities

(78)

203

(22)

Exchange differences on balances of cash and

cash equivalents

177

(19)

463

(91)

Gains (losses) from translation of cash and cash

equivalents of foreign activity

(19)

Increase (decrease) in cash and cash

equivalents

(2,943)

(4,432)

3,229

(10,047)

Cash and cash equivalents at the beginning of

the period

16,290

14,550

10,118

20,165

Cash and cash equivalents at the end of the

period

$ 13,347

$ 10,118

$ 13,347

$ 10,118

(a) Acquisition of an initially consolidated

subsidiary:

Working capital (excluding cash and cash

equivalents)

$ -

$ (1,271)

Property and equipment

Right-of-use assets

350

Intangible assets

3,538

Goodwill

(505)

2,546

Shares issued

(885)

Payable for acquisition of subsidiary

505

(629)

Lease liabilities

(350)

Acquisition of a subsidiary, net of cash acquired

$ -

$ 3,350

(b) Significant non-cash transactions:

Right-of-use asset recognized with

corresponding lease liability

$ 726

$ 2

$ 1,898

$ 2

RECONCILIATION OF IFRS TO NON-IFRS GROSS PROFIT AND GROSS

MARGIN

(in thousands, except gross margin data)

Three Months Ended

Twelve months Ended

December 31,

2025

2024

2025

2024

(unaudited)

IFRS gross profit

$ 4,747

$ 4,453

$ 19,683

$ 15,500

Add:

Share-based compensation

249

476

378

Depreciation and amortization

388

373

1,553

1,345

Non-IFRS gross profit

$ 5,384

$ 4,891

$ 21,712

$ 17,223

IFRS gross margin

64.1 %

67.6 %

66.8 %

65.2 %

Non-IFRS gross margin

72.7 %

74.3 %

73.7 %

72.4 %

RECONCILIATION OF IFRS LOSS TO ADJUSTED EBITDA

(in thousands , except adjusted EBITDA margin data)

Three Months Ended

Twelve months Ended

December 31,

2025

2024

2025

2024

(unaudited)

IFRS loss

$ (3,777)

$ (9,837)

$ (17,516)

$ (22,491)

Add:

Change in fair value of warrants

(1,489)

1,410

(227)

965

Financing income, net

(380)

(259)

(1,559)

(2,033)

Income taxes, net

649

146

612

Share-based compensation

1,953

1,049

4,306

3,625

Depreciation and amortization

843

870

3,449

3,083

CEO transition-related expenses

158

Impairment of goodwill

3,000

Acquisition-related costs

283

Operating expense settled by issuance of

351

Adjusted EBITDA

$ (2,669)

$ (3,118)

$ (11,243)

$ (12,605)

Loss margin (under IFRS)

-51 %

-149 %

-59 %

-95 %

Adjusted EBITDA margin

-36 %

-47 %

-38 %

-53 %

RECONCILIATION OF IFRS LOSS TO NON-IFRS LOSS AND LOSS PER SHARE

(in thousands, except share and per share data)

Three Months Ended

Twelve months Ended

December 31,

2025

2024

2025

2024

(unaudited)

IFRS loss

$ (3,777)

$ (9,837)

$ (17,516)

$ (22,491)

Add:

Share-based compensation

1,953

1,049

4,306

3,625

Depreciation and amortization

843

870

3,449

3,083

CEO transition-related expenses

158

Impairment of goodwill

3,000

Operating expense settled by issuance of

351

Acquisition-related costs

283

Changes in the fair value of contingent

consideration

(6)

Change in fair value of warrants

(1,489)

1,410

(227)

965

Non IFRS loss

$ (2,312)

$ (3,508)

$ (9,830)

$ (11,190)

Non IFRS basic and diluted loss per

Ordinary share

$ (0.05)

$ (0.07)

$ (0.19)

$ (0.23)

Weighted average number of shares

outstanding used to compute basic and

diluted loss per share

51,214,592

49,344,367

50,573,461

48,579,804

Logo - https://mma.prnewswire.com/media/2319256/5624936/Freightos_Logo.jpg

SOURCE Freightos