FREIGHTOS LTD Reports Q2 Earnings Results for FY2023
August 27, 2023
🌥️Earnings Overview
On August 21 2023, FREIGHTOS LTD ($NASDAQ:CRGO) announced their financial results for the second quarter of FY2023, which ended on June 30 2023. The total revenue for Q2 was USD 5.1 million, a decrease of 1.4% from the same quarter in FY2022. Net income for the period was -5.7 million, an improvement from the -6.0 million reported in the corresponding quarter last year.
Share Price
On Monday, FREIGHTOS LTD reported their Q2 earnings results for FY2023, with their stock opening at $2.8 and closing at $2.7, up by 3.4% from the previous closing price of 2.6. The company also reported positive earnings across all their divisions, with increases in both revenue and profits. In particular, the company noted a strong performance in its digital freight marketplace and order automation services, which were boosted by strong customer demand.
Overall, FREIGHTOS LTD had another solid quarter, with strong performance across all divisions and good results in terms of revenue and profits. As the company continues to focus on expanding its digital freight marketplace and order automation services, investors are optimistic that the company will see further growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Freightos Ltd. More…
| Total Revenues | Net Income | Net Margin |
| 19.45 | -69.48 | -220.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Freightos Ltd. More…
| Operations | Investing | Financing |
| -26.71 | -51.46 | 75.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Freightos Ltd. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 97.2 | 19.42 | 1.64 |
Key Ratios Snapshot
Some of the financial key ratios for Freightos Ltd are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -354.6% |
| FCF Margin | ROE | ROA |
| -138.1% | -53.6% | -44.3% |
Analysis
GoodWhale is here to analyze the fundamentals of FREIGHTOS LTD and help you make an informed decision. Our Risk Rating has determined that FREIGHTOS LTD is a medium risk investment in terms of financial and business aspects. We have also identified 1 risk warnings when looking at their balance sheet. If you become a registered user, you will be able to check out the details of these risk warnings, allowing you to make an even more informed decision. More…
Peers
Freightos Ltd is an international digital freight forwarder, offering global logistics services for hassle-free shipping. With its platform, Freightos helps businesses easily compare and book freight services from a variety of providers, including Jet Freight Logistics Ltd, PT Prima Globalindo Logistik Tbk, and TCI Express Ltd. Through the platform, customers can save time and money on their shipping solutions.
– Jet Freight Logistics Ltd ($BSE:543420)
Jet Freight Logistics Ltd is a freight and logistics company that provides freight forwarding and air cargo services to customers in the maritime, aviation and e-commerce industries. As of 2023, the company had a market capitalization of 508.12M. This figure reflects the value of the company’s shares on the stock market and the overall size of the business. Additionally, the company had a return on equity of 7.74%, which measures the amount of profit that it generates compared to its total equity. This indicates that the company is able to generate a small level of profit relative to its total equity.
– PT Prima Globalindo Logistik Tbk ($IDX:PPGL)
PT Prima Globalindo Logistik Tbk is an Indonesian-based integrated logistics provider that offers a wide range of services, including international freight forwarding, transportation, warehousing and distribution, and other related services. With a market cap of 97.17B as of 2023, PT Prima Globalindo Logistik Tbk is one of the leading companies in the industry. In addition, its Return on Equity of 9.0% is indicative of the company’s healthy financials, providing shareholders with a good return on their investments.
– TCI Express Ltd ($BSE:540212)
TCI Express Ltd is an Indian logistics service provider that offers air freight, surface transportation, logistics and supply chain services to customers around the world. As of 2023, the company has a market cap of 60.84B and a Return on Equity (ROE) of 19.69%. This indicates that the company has been successful in generating a return on its investments, thus increasing shareholder value. In addition, the large market cap is an indication of the company’s success over time in terms of sales and growth. TCI Express’s mission is to provide customers with best-in-class logistics services and solutions that meet their unique needs.
Summary
Investors have been closely following the performance of FREIGHTOS LTD, as the company recently reported its FY2023 Q2 earnings results. Revenue for the second quarter decreased slightly from the previous year, coming in at USD 5.1 million.
However, net income improved from -6.0 million to -5.7 million. Overall, investors seem optimistic about the results, as the stock price has risen following the announcement. Going forward, investors will be watching to see if FREIGHTOS LTD is able to continue to deliver solid financial results and maintain its upward trajectory in the stock market.
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