Freightos Limited · NASDAQ:CRGO
Freightos — Q1 2024 Earnings Presentation
21 slides from Freightos's earnings presentation, Feb 26, 2024
Slide 1: Q1 2024 Earnings Call
Q1 2024 Earnings Call Nasdaq: CRGO May 20, 2024 08:30
Slide 2: Disclaimer
Disclaimer About this Presentation This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security. Please see our SEC filings for the most up to date information. The information contained herein does not purport to be all-inclusi
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “pr
Slide 4: Agenda
Agenda Prepared Remarks ● Q1 24 Overview ● Freight Market Update ● Financial Results ● Q2 and FY 24 Guidance Q&A Zvi Schreiber CEO 4
Slide 5: Strong consistent transactions growth reflects marketplace network effect
Strong consistent transactions growth reflects marketplace network effect 124% CAGR 5
Slide 6: Marketplace buyers
Marketplace buyers Total Bookings by Cohort Unique Buyer Users (WebCargo, New Users from Q1 2022) 02-2022 01-2022 03-2022 Unique buyer users: Unique buyer users represent the number of individual users placing bookings, typically counted based on unique email logins. The number of buyers, which coun
Slide 7: Marketplace sellers
Marketplace sellers Carriers Booking Cohorts per Carrier (WebCargo, Total Booking Since Jan-22) Carriers: Number of unique air and ocean carriers, mostly airlines, who have been sellers of transactions. For airlines, we count booking carriers, which include separate airlines within the same carrier
Slide 8: A rapidly growing marketplace flywheel
A rapidly growing marketplace flywheel The fundamental buyer-seller network effects, amplified by Platform Impact Examples More types of More transactions Temp. controlled goods, transactions and trucking More aspects of More GBV Payments, insurance, Higher take rate and customs brokerage each transact
Slide 9: The global logistics market will reach $1.6T by 2026
The global logistics market will reach $1.6T by 20261 with global freight playing a key role Market size (GBV) $506bn2 Ocean Liners Freight Market size Importers Freight Forwarders Freight (GBV) $208B4 /Exporters Market size Forwarders Airlines (GBV) $134B3 Forwarders ~100,000 worldwide Millions Tru
Slide 10: Market Conditions: Freight Volumes
Market Conditions: Freight Volumes Global Ocean Volumes Global Air Cargo Volumes Source: Container Trades Statistics Source: IATA 10
Slide 11: Market Conditions: Freight Rates
Market Conditions: Freight Rates Freightos Baltic Index Global Benchmark Freightos Air Index Global Benchmark
Slide 12: Agenda
Agenda Prepared Remarks ● Q1 24 Overview ● Freight Market Update ● Financial Results ● Q2 and FY 24 Guidance Ran Shalev Chief Financial Officer Q&A 12
Slide 13: Q1 Actual vs. Guidance
Q1 24 Actual vs. Guidance Q1 24 A Q1 24 G # Transactions 295.6 280.5 – 288.0 GBV ($m) 192.4 168.0 – 172.5 Revenue ($m) $ 5.4 $ 5.2 - $ 5.3 Adjusted EBITDA ($m) $ (3.6) $ (4.2) - $ (3.9)
Slide 14: Monetizing the network value: SaaS-enabled marketplace flywheel
Monetizing the network value: SaaS-enabled marketplace flywheel Solutions revenue is primarily recurring subscriptions for SaaS or data Platform revenue = fees associated with specific freight-service transactions booked between Buyers and Sellers on our Platform 14
Slide 15: Highly capital-efficient growth
Highly capital-efficient growth Non-IFRS Gross Margins Adjusted EBITDA Margins
Slide 16: On track to profitability with cash at hand
On track to profitability with cash at hand Adjusted EBITDA ($K) Cash, Short term deposits and short term Investments ($M) -73% -81% -104% -121%
Slide 17: Q2 & FY 2024 Guidance
Q2 & FY 2024 Guidance Management Expectations Q2 2024 FY 2024 Transactions 303,000 - 309,000 1,286,500 - 1,376,000 Year over Year Growth 27% - 29% 26% - 34% GBV ($m) $ 178.0 - $ 182.0 $ 788.9 - $ 844.1 Year over Year Growth 15% - 18% 17% - 26% Revenue ($m) $ 5.5 - $ 5.6 $ 22.4 - $ 24.0 Year over Yea
Slide 18: Thanks! Questions
Thanks! ? Questions
Slide 19: Reconciliation of IFRS Gross Margin to Non-IFRS
Reconciliation of IFRS Gross Margin to Non-IFRS Three Months Ended March 31, 2024 2023 (unaudited) (unaudited) IFRS gross profit $ 3,350 $ 2,810 Add: Share-based compensation 101 82 Depreciation & Amortization 311 242 Non-IFRS gross profit $ 3,762 $ 3,134 IFRS gross margin 62.6% 58.3% Non-IFRS gross
Slide 20: Reconciliation of IFRS Operating Loss to Adjusted EBITDA
Reconciliation of IFRS Operating Loss to Adjusted EBITDA Three Months Ended March 31, 2024 2023 (unaudited) (unaudited) Operating loss $ (5,484) $ (57,960) Add: Share-based compensation 843 582 Depreciation & Amortization 704 643 Share listing expense – 46,717 Non-recurring expenses 0- 499 Transacti
Slide 21: Learn more at freightos.com/investors
Learn more at freightos.com/investors