1. Expedia for global freight shipping

2. Kayak for cargo logistics

• Freightos Marketplace: An online global marketplace for businesses to compare, book, and manage international freight shipments across various modes like ocean, air, and truck.
• WebCargo by Freightos: A Software-as-a-Service (SaaS) platform offering instant e-booking, pricing, and sales management solutions for freight forwarders and airlines.
• Freightos Data: Provides freight rate intelligence and market data to assist industry participants with informed pricing and procurement decisions.

1. Freight Forwarders: These companies use Freightos' platforms, particularly WebCargo, to manage pricing, book air cargo, and streamline their operations. They also leverage the Freightos.com marketplace to offer their services to shippers. Freightos serves a wide array of freight forwarders, from small and medium-sized enterprises (SMEs) to large global logistics providers.

• Examples of major freight forwarders that often utilize digital platforms and could be customers or partners in the Freightos ecosystem include:
• Kuehne+Nagel International AG (SWX: KNIN)
• DSV A/S (CPH: DSV)
• Expeditors International of Washington, Inc. (NASDAQ: EXPD)
• C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW)
• DB Schenker (a division of Deutsche Bahn AG)

2. Airlines (Air Cargo Carriers): Air cargo carriers integrate their dynamic pricing and capacity into Freightos' WebCargo platform, making their services available to freight forwarders globally. This allows them to digitize their sales channels and increase bookings.

• Examples of airlines that have partnered with or integrated their cargo services with Freightos' WebCargo platform include:
• Qatar Airways Cargo (private)
• Lufthansa Cargo (part of Deutsche Lufthansa AG, XTRA: LHA)
• Air France-KLM Martinair Cargo (part of Air France-KLM S.A., EURONEXT: AF)
• IAG Cargo (part of International Airlines Group, LSE: IAG)
• United Cargo (part of United Airlines Holdings, Inc., NASDAQ: UAL)

3. Ocean Carriers: Similar to airlines, major ocean shipping lines also integrate with Freightos' platforms to provide real-time rates and capacity for ocean freight, enabling digital booking and management for freight forwarders and shippers.

• Examples of ocean carriers that have integrated with or utilized Freightos' technology include:
• A.P. Møller - Mærsk A/S (CPH: MAERSK-B)
• Hapag-Lloyd AG (XTRA: HLAG)
• ZIM Integrated Shipping Services Ltd. (NYSE: ZIM)
• MSC (Mediterranean Shipping Company S.A.) (private)
• CMA CGM S.A. (private)

4. Shippers (Importers and Exporters): These are businesses, ranging from small and medium-sized enterprises (SMEs) to larger enterprises, that use the Freightos.com marketplace to compare, book, and manage international freight shipments from various freight forwarders and carriers. While they are end-users of the freight services, they are also direct customers of the marketplace, facilitating transactions through the platform.

Due to the marketplace model, Freightos serves a vast number of shippers, rather than a few identifiable "major" shipper customers.

• Amazon.com, Inc. (AMZN)

Pablo Pinillos, Chief Financial Officer and Interim Chief Executive Officer

Mr. Pinillos joined Freightos as Chief Financial Officer in March 2025 and has served as Interim Chief Executive Officer since January 2026, with his appointment as Chief Executive Officer effective March 16, 2026. He brings over 20 years of global leadership experience in finance, strategy, and operations. Mr. Pinillos is a seasoned tech executive with three times startup and IPO experience, specializing in strategic decision-making to accelerate growth and empowering high-performing teams.

Ian Arroyo, Chief Strategy Officer

Mr. Arroyo is described as a passionate entrepreneur, strategy enthusiast, and people builder. He has a proven track record in go-to-market and growth leadership across various industries.

Eytan Buchman, Chief Marketing Officer

Mr. Buchman is an experienced B2B digital marketer who combines deep industry knowledge with digital channels, storytelling, and targeted communications. He also has a background in strategic communication.

Enric Alventosa, Chief Technology Officer

Mr. Alventosa possesses over 15 years of LAMP experience and specializes in building and scaling enterprise technology solutions for the supply chain, including for some of the world's largest providers. He is responsible for developing the Freightos stack as CTO and Architect.

Joyce Tai, Executive Vice President Partnerships, Managing Director APAC

Ms. Tai is an e-commerce veteran with over 17 years of experience in digital transformation across manufacturing, distribution, sell, and marketing sectors. Before Freightos, she served as CCO and MD Asia at Visualead and held executive positions at Optimix Asia and Digital River.

The key risks to Freightos (CRGO) primarily revolve around its financial viability, market penetration, and sensitivity to the broader logistics industry.

1. Ongoing Unprofitability and Liquidity Concerns: Freightos has consistently reported significant net losses and negative operating and net margins, indicating a challenge in achieving profitability. The company has a distressed Altman Z-Score, suggesting a potential risk of bankruptcy, and operates with negative returns on equity and assets. While Freightos aims for adjusted EBITDA breakeven by the fourth quarter of 2026, there is no guarantee it will meet this target, and it continues to burn cash.
2. Dependence on User Adoption and Intense Competition: Freightos operates in a global freight market that remains largely manual, and its business model relies critically on the increasing adoption of its digital booking and payment platforms. The transportation industry is highly competitive, and Freightos must successfully drive the digitization of freight logistics against established manual processes and other market players to achieve sustained growth and profitability.
3. Vulnerability to Global Economic Conditions and Freight Market Volatility: Despite its digital nature, Freightos's business is exposed to the cyclical and often volatile nature of the global freight market. Factors such as new vessel capacity, modest growth projections for air cargo volumes, and broader economic conditions can pressure freight rates and impact the company's revenue, particularly its platform revenue, which is sensitive to these fluctuations.

For Freightos (CRGO), the addressable markets for their main products and services are primarily within the global international freight industry.

• The global air cargo market was approximately $134 billion as of 2023.
• The global ocean freight market was approximately $250 billion as of 2023.
• For multimodal services, which combine air, ocean, and first- and last-mile transportation, the global market is estimated at $208 billion.
• Additionally, the addressable market for Freightos' platform, which facilitates digital booking across these modes, is cited as over $600 billion.

Here are 3-5 expected drivers of future revenue growth for Freightos (CRGO) over the next 2-3 years:

1. Continued Growth in Platform Transactions: Freightos anticipates sustained growth in the number of transactions processed through its platforms, including WebCargo and 7LFreight. The company has a history of consistently achieving record transaction volumes, driven by the "marketplace flywheel dynamics" where increased buyer and seller participation mutually reinforce growth. Freightos expects 20-30% annual transaction growth.
2. Expansion of Solution Revenue: Growth in Freightos' solution offerings, encompassing SaaS products, data solutions like Freightos Terminal, and customs clearance services, is a key revenue driver. Management views 2026 as a "transition year" focused on deepening the adoption of its software solutions, which is expected to naturally lead to increased platform bookings and greater monetization in 2027 and beyond. The launch of the Freightos Enterprise Suite in April 2025, an integrated logistics procurement suite for large importers and exporters, also represents a significant opportunity for solution revenue growth.
3. Enlargement of the Carrier Network: Freightos is actively working to expand its network of active carriers. The number of carriers selling on the platform has steadily increased, and the company is focused on bringing in more regional and specialist carriers, as well as increasing participation from ocean carriers. A broader carrier network enhances the platform's offerings, attracts more buyers, and contributes to overall transaction and gross booking value (GBV) growth.
4. Increased Buyer User Engagement and Network Effects: Beyond simply adding new users, Freightos aims to drive deeper engagement within its existing network of buyer users. The marketplace's inherent network effects mean that as more buyers and sellers utilize the platform, its value increases for all participants, leading to a virtuous cycle of increased activity and transaction growth. This focus on engagement ensures continued growth in platform activity and monetization.

Share Issuance

• Freightos became a public company through a SPAC merger with Gesher I Acquisition Corp. on January 25, 2023, and its shares began trading under the ticker CRGO on January 26, 2023.
• The SPAC merger generated at least $80 million in gross proceeds and included $80 million in capital commitments from investors.
• As of December 31, 2024, Freightos had 49,726,906 ordinary shares outstanding.

Inbound Investments

• As part of its 2023 SPAC merger, Freightos received $80 million in capital commitments, including $60 million from M&G Investments and an additional $10 million from Qatar Airways.
• Prior to the SPAC merger, Qatar Airways invested $19.7 million in early 2021 for Series C preferred shares.
• Existing investors before the public listing included Qatar Airways, FedEx, and SGX Group (Singapore Exchange Ltd.).

Outbound Investments

• Freightos acquired 7L Freight in January 2022.
• Freightos Limited acquired Shipsta S.à r.l. for approximately €5.45 million (approximately $5.9 million) in August 2025.

Capital Expenditures

• Capital expenditures were $0.0 million in 2024, $0.1 million in 2023, and $0.3 million in 2022.
• These expenditures primarily focused on computers, peripheral equipment, and leasehold improvements for leased offices.
• The company is in an "investment and scale-up phase," with plans to invest proceeds in research and development, sales, and marketing.