Freightos reported adjusted earnings per share of $0.12 for the quarter, exceeding analyst expectations by $0.03, while revenue of $128.5 million fell short of the $135 million consensus forecast.
The logistics technology provider attributed the earnings beat to cost efficiencies and operational improvements despite weaker-than-expected top-line growth. Revenue declined 5% year-over-year, primarily due to reduced freight volumes and pricing pressures in the global shipping market.
Chief Executive Officer Zvi Schreiber highlighted that the company maintained profitability while navigating a challenging macroeconomic environment, including persistent inflation and geopolitical uncertainties affecting trade flows.
Freightos did not provide forward guidance in its earnings release, citing ongoing volatility in supply chain dynamics. Analysts noted that while the earnings beat may support investor confidence, the revenue shortfall underscores ongoing headwinds in the freight and logistics sector.
Shares of Freightos were down 3% in after-hours trading following the report.
