Expeditors reports healthy growth in a 'frenzied landscape of tariffs'
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Photo: Freightos
By Alex Lennane
High SPAC costs, and public scrutiny in a “cynical” market has clouded Freightos’ Q1 results, resulting in a hiring freeze, even as the company tried to focus on its record growth.
Revenues rose nearly 10% year-on-year, to $4.8m, but the company, which has only announced its results publicly in the last two quarters since listing, made a loss of $49.28m, compared with a loss of $4.2m a year earlier. However, noted Freightos, the SPAC and listing cost some $46.7m, while another ...
Comment on this article
Pieter Kinds
May 24, 2023 at 4:33 pmAlex,
It would have been nice to understand why there are SPAC and transaction related costs of close to $ 50 million. No SPAC or IPO costs that much yet Freightos makes it sound normal that these costs were just SPAC related and that’s it. For Zvi to state that he needs new investors after he reports his first full financial quarter is well….let’s say highly remarkable. That and the $ 50 million that just disappeared could benefit from some more clarification.
Alex Lennane
May 24, 2023 at 6:16 pmGreat question, let me find out!