Freight Technologies (NASDAQ: FRGT) reported substantial improvements across key financial metrics for the full year ended December 31, 2024, marking what CEO Javier Selgas described as a transformative period for the logistics technology company. The company's performance was highlighted by enhanced gross margins and improved cash flow from operations, demonstrating the effectiveness of its technology-driven approach to supply chain optimization.
During 2024, the company launched Waavely, a state-of-the-art platform for ocean freight booking and management, which represents a significant advancement in digital logistics solutions. The platform's introduction coincided with the onboarding of numerous new customers throughout the year, with this positive momentum continuing into the first quarter of 2025. The company secured new or expanded agreements with several multinational enterprises, indicating growing market acceptance of its innovative offerings.
The innovation continued into 2025 with the successful launch of Fleet Rocket, a cost-effective Transportation Management System designed specifically for brokers, shippers, and other logistics operators. This was complemented by the introduction of an advanced AI Tendering Bot, engineered to automate and streamline the load tendering process. These technological advancements collectively position Freight Technologies as a comprehensive digital freight-logistics technology company capable of addressing complex supply chain challenges.
The company's portfolio of AI and machine learning-powered solutions includes multiple interconnected platforms that work within a unified system. The Fr8App platform facilitates seamless OTR B2B cross-border shipping across the USMCA region, while Fr8Now provides specialized service for less-than-truckload shipping. For enterprise clients in Mexico, Fr8Fleet offers dedicated capacity services, and the newly launched Waavely handles ocean freight booking and container shipment management between North America and global ports.
These interconnected solutions leverage innovative technologies including live pricing, real-time tracking, digital freight marketplace capabilities, brokerage support, transportation management, fleet management, and committed capacity solutions. The automation-driven service offerings and lean corporate structure enable both the company and its customers to effectively navigate the current macroeconomic trade environment while maintaining cost efficiency and operational excellence.
