- Fr8Tech, a tech company on a mission to revolutionize cross-border shipping, just posted 30% year-over-year (“YOY”) revenue growth and a 278% YOY growth in Fr8Fleet volume for Q1 2024
- This growth was attributed to the addition of the Fr8Fleet offering in 2022, which sought to address specific customer needs
- The company looks to build on this success by fostering even stronger relationships with existing customers and adding new customers to its network
- Its management believes that this approach will be integral in realizing its $25-$30 million annual revenue projection for the 2024 financial year
Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a tech company on a mission to revolutionize cross-border shipping by offering carriers and shippers flexibility, visibility, and simplicity, just released preliminary financial results for the first quarter of the 2024 financial year (“Q1 2024”). Of note was the 30% revenue growth over the same period in the previous year, totaling $4.3 million. The company also reported a 25% growth in volume for Fr8Fleet from the fourth quarter of the 2023 fiscal year and a 278% year-over-year growth with approximately 3,400 completed shipments (https://ibn.fm/ir97f).
According to the company’s management, this growth and impressive performance was primarily attributed to adding the Fr8Fleet offering, which sought to address specific customer pain points by securing dedicated carrier capacity and providing…
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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