Freightos down on wider Q1 loss

Freightos

23/05/2023 19:27

** Shares of freight booking and payment platform Freightos
Ltd  CRGO.O  down 1% at $2.57
    ** Reports Q1 adj loss of $5.4 mln vs $3.2 mln a year
earlier
    ** Cuts FY23 gross bookings value forecast to $694.5 mln-
$739.8 mln from $802 mln-$873.3 mln     
    ** Q1 revenue of $4.8 mln, up 9.9% y-o-y
    ** Reaffirms 2023 outlook for revenue, adj. EBITDA and
transactions
    ** Company says it is monitoring spending, both in terms of
hiring and expenses, and has taken actions to reduce full-year
spending
    ** CRGO down about 75.3% YTD

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))