Freightos Q2 2026 Earnings Report

Freightos EPS Results

• Actual EPS: -$0.03
• Consensus EPS: -$0.05
• Beat/Miss: Beat by +$0.02
• One Year Ago EPS: N/A

Freightos Revenue Results

• Actual Revenue: $7.69 million
• Expected Revenue: $7.32 million
• Beat/Miss: Beat by +$375.00 thousand
• YoY Revenue Growth: N/A

Freightos Announcement Details

• Quarter: Q2 2026
• Date: 8/17/2026
• Time: Before Market Opens
• Conference Call Date: Monday, August 17, 2026
• Conference Call Time: 8:30AM ET

Freightos (NASDAQ:CRGO), trading under the symbol CRGO on Nasdaq, operates a digital booking platform designed to streamline international freight logistics. The company’s core offering, the Freightos Marketplace, allows shippers and freight forwarders to compare and book air, ocean and trucking services online, providing rate transparency and live booking capabilities. By aggregating quotes from a global network of carriers and forwarders, Freightos enables customers to secure competitive prices and manage bookings through a single interface.

In addition to its marketplace, Freightos offers a suite of SaaS solutions for logistics professionals. WebCargo, acquired in 2016, delivers real-time air freight pricing and e-booking tools, while the Freightos Freight Rate Management platform helps enterprises automate rate procurement, contract management and freight spend analytics. The company also publishes the Freightos Baltic Index—a set of freight price indices for key trade lanes—offering market participants insight into global shipping rate trends.

Founded in 2012 by entrepreneur Zvi Schreiber, Freightos established its headquarters in Hong Kong, positioning itself at the crossroads of major shipping routes. The company completed a business combination with Gesher I Acquisition Corp. in mid-2023, marking its debut as a publicly traded entity. Leadership is led by Schreiber as CEO, supported by a management team with extensive experience in supply chain technology and logistics operations.

Serving customers across Asia, Europe and the Americas, Freightos caters to a range of industries—from small e-commerce exporters to large multinational manufacturers. Its platform integrates via APIs with enterprise resource planning systems and offers mobile access for on-the-go rate checks and bookings. By digitizing key aspects of the freight lifecycle, Freightos seeks to reduce transit times, minimize manual processes and enhance visibility for stakeholders across the supply chain.

Freightos Q2 2026 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Q2 revenue reached a record $7.7 million, up 3% year over year, while platform revenue grew 19% to $2.9 million. Transactions increased 16% to 458,000 and gross booking value rose 33% to a record $422 million.
• Negative Sentiment: Solutions revenue declined 4% year over year to $4.8 million, pressured by insufficient new bookings, pricing pressure on renewals, and customer budget constraints. Management said converting its 30% quarter-over-quarter pipeline growth into bookings and recurring revenue remains a key execution gap.
• Positive Sentiment: The company added Korean Air to its network and said underlying transaction growth excluding Middle East-affected routes remains within its long-term 20%-30% model. Full-year transaction growth guidance was raised to 12%-14%, while gross booking value growth guidance improved to 19%-21%.
• Positive Sentiment: Adjusted EBITDA loss improved to $2 million, and management expects to cross adjusted EBITDA breakeven during Q4 2026, exit the year at a breakeven run rate, and become cash-generative in the first half of 2027. Cost-optimization actions are expected to deliver their full financial benefit in Q4.
• Neutral Sentiment: Freightos ended Q2 with $21.4 million in cash and short-term deposits, down $2.1 million from Q1. Q3 revenue is expected at $7.7 million-$7.8 million, while full-year revenue guidance was narrowed to $30.4 million-$31.0 million, partly because the tariff-refund activity that boosted Q2 platform revenue is expected to fade.

Presentation

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Hello, and welcome to Freightos' Q2 2026 earnings conference call. A press release with detailed financial results was released earlier today and is available on the investor relations section of our website, freightos.com/investors. My name is Anat Earon-Heilborn, and I am joined today by Pablo Pinillos, Freightos CEO and interim CFO, and Ian Arroyo, Chief Strategy Officer. Following the prepared remarks, we will open the call for questions. We are sharing slides during the call and using video. We recommend using Zoom on a computer rather than dialing in by phone. The slides, as well as a recording of this earnings call, will be available on our website shortly after the call. Please be aware that today's discussion contains forward-looking statements which are subject to a number of risks and uncertainties. Actual results may differ materially due to various risk factors.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Please refer to today's press release and our SEC filings for more information on risk factors and other factors which could impact forward-looking statements. Copies of these reports are available online. In discussing the results of our operations, we will be providing and referring to certain non-IFRS financial measures. You can find reconciliations to the most directly comparable IFRS financial measures, along with additional information regarding those non-IFRS financial measures in the press release on our website at freightos.com/investors. The company undertakes no obligation to update any information discussed in this call at any time. Before we begin, I would like to note our upcoming investor events. This week, Freightos will participate virtually in the Sidoti Micro-Cap Conference. In September, management will attend the H.C. Wainwright Annual Investment Conference in New York. Links to webcasts, when applicable, and other event updates can be found on our website.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Today's earnings call will begin with a business and financial overview by Pablo, followed by Ian, who will discuss our product strategy in more detail. Next, Pablo will present the guidance for Q3 and full year 2026. We will conclude with Q&A. Questions can be submitted in writing during the call by using the Q&A feature in Zoom. With that, I will hand it over to Pablo.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Thank you, Anat, and thank you everyone for joining us today. We delivered record revenues of $7.7 million, ahead of our expectations. Adjusted EBITDA loss improved to a record low -$2 million, primarily due to our tight cost discipline, and platform revenue grew 19%. At the same time, solutions revenue declined 4%, reflecting the execution gaps identified during 2025 in building a recurring revenue stream. However, with the discipline changes and sharper prioritization now in place, we expect results to begin showing in H2. The quarter demonstrated that our global offering remains resilient and increasingly vital to customers navigating industry headwinds, while our operating discipline continues to improve. As we said at the beginning of the year, 2026 is a transition year. Our focus this year is on disciplined execution, tighter prioritization, and building the foundation for long-term growth.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

As we look at our progress in the second quarter, I would highlight three things. First, we continue to strengthen Freightos' position across the freight ecosystem, advancing our vision of becoming the infrastructure layer that connects the global freight industry. Second, we continue to execute against the plan we outlined earlier this year. In Q1, we focused the organization on alignment and prioritization. In Q2, that execution is increasingly reflected in the evolution of our product offering. While our updated full-year outlook reflects areas where execution needs to accelerate, we expect the crossover to adjusted EBITDA breakeven to occur at some point during the fourth quarter. We see the business exiting 2026 at a breakeven run rate, and from there, becoming cash generative by mid-2027, ensuring our financial stability and ability to fund future growth.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Before diving into the quarter, I would like to briefly note the appointment of Yaron Eldad as Freightos' new Chief Financial Officer, effective September 1st. Yaron brings more than 25 years of senior financial leadership experience, including significant public company and international operating experience. His appointment is an important step in our management transition and strengthens the leadership team as we remain focused on delivering against our goals. We are very pleased to have him joining Freightos. Now, let's discuss the results of the quarter. Total revenue for the second quarter was above our expectations and up 3% from Q2 last year. The outperformance was driven by platform revenue of $2.9 million, increasing 19% compared to last year. Whereas solutions revenue of $4.8 million was down 4% from last year. The platform outperformance this quarter reflects the breadth of our platform revenue base.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

While the Middle East conflict continued to weigh on booking volumes in affected corridors, tariff-driven reimbursement activity through Clearit provided a meaningful offsetting tailwind. With one source of platform revenue under pressure and another exceeding plan, the net result was platform revenue above expectations. What we have seen in the Middle East routes were still disruptive through the second quarter, but recovery was stronger than what we had previously anticipated. Our platform facilitates 458,000 transactions, up 16% from Q2 last year. Excluding routes involving Middle East origin, destination, or airspace, transactions grew year-on-year at a rate well in line with the company's long-term model of 20%-30% transactions growth. The gross booking value of these transactions reached a record of $422 million, up 33% from Q2 last year.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

This reflects both the transaction volume and the fact that the average air freight rates remain high, about 25% above their pre-conflict levels. Platform revenue benefits from higher than expected contribution from Clearit, our custom transactions business line. Clearit processed many refund claims following tariff policy changes. This activity carries higher revenue per transaction and typical customs transactions, and was a meaningful, largely temporary contributor to Q2 outperformance. We expect a moderate contribution in Q3 and a smaller contribution in Q4. Nevertheless, it is a reminder of the importance of having a broad platform revenue base. We announced the addition of Korean Air to the Freightos network. This is the major Asian cargo airline, whose addition we referred on our Q1 quarter call.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

We have said for some time that expanding airline participation in Asia is a strategic priority for us, so confirming Korean Air as part of the network is an important milestone. As we continue adding leading carriers across key geographies, we strengthen network connectivity, increase the depth of the network, and create more opportunities for better procurement and decision-making across the platform. Every leading carrier we add helps increase the data flow through the network, and that cumulative effect of building a larger, more connected network over time is really the bigger story here. Active carrier count, active meaning that they have received more than five transactions each in the quarter, was 75, compared with 79 in Q1 and 75 a year ago. The quarter-on-quarter decrease reflects some carriers failing down below the threshold, partially offset by the addition of other carriers.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

The active carrier count can fluctuate quarter-on-quarter as individual carriers move above or below the threshold. But we are focused on the long-term trajectory and customer value, adding leading carriers, expanding geographic coverage, deepening the network, increasing available capacity. Turning to solutions, revenue for the second quarter was down year-on-year, reflecting the execution gap identified during 2025. New bookings were not sufficient to cover for the shortfall, and we are seeing some pricing pressure on renewals. We are not satisfied with this performance, and we are being direct about that. We continue to build a strong pipeline, up 30% quarter-on-quarter, that is progressing correctly through the sales cycle, but the pipeline is not the outcome. Bookings and revenue are. We are measuring progress through conversion rates, sales cycle duration, renewals, and customer go-lives.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

We will judge ourselves on those outcomes, and we expect it to start converting during H2. The strategic logic connecting solutions to the rest of the offering hasn't changed. Our solutions become embedded into customers' procurement, pricing, and booking workflows, driving increasing platform activity, which in turn generates richer data and market intelligence that makes the solutions themselves more valuable. That reinforcing dynamic is intact, but for it to work, we need to convert more effectively on deal velocity, on demonstrating clear ROI to customers in a market where procurement budgets are under scrutiny, and on closing the gap between pipeline strength and bookings. Part of what we have done to sharpen that customer value is to bring our product portfolio together under a single Freightos identity. Ian will walk through the product implications in a moment. But at the strategic level, here is why it matters.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

This is an evolution in how we present the company and how we operate, both internally and externally. Over the years, we have built multiple products serving different parts of the freight ecosystem. As those capabilities have become increasingly integrated, it became important that our brand reflects that reality. Our ambition is not simply to offer great logistics software. Our ambition is to build a connected platform where procurement, pricing, booking, payment, data, and decision intelligence work together to help customers move freight more efficiently. A unified identity makes it easier for customers to understand the breadth of the Freightos platform and how our solutions work together. We received positive customer feedback on the move and believe that clarity will support solutions adoption over time. Before I hand it over to Ian, let's discuss our profitability and cash position.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Non-IFRS gross margin was 74.1%, up from 73.5% in Q2 last year, demonstrating efficiency gains. Adjusted EBITDA was -$2 million, reflecting primarily the disciplined cost management and focused investment approach we outlined at the beginning of the year. The cost optimization actions we announced in March are on track. We are beginning to see the operational benefit of those actions that will continue during Q3 to get full benefit on the financial impact in Q4, as we indicated. We ended the quarter with $21.4 million in cash and short-term deposits. We are on track to cross the adjusted EBITDA breakeven point by the end of the year. Once we reach breakeven, we expect to begin generating positive cash flow within one or two quarters after that.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

We are not only well-capitalized to execute our strategy to breakeven, we have the resources to continue investing in the business we own it. With that, I will pass it over to Ian.

[Ian Arroyo, Chief Strategy Officer at Freightos]

Thanks, Pablo. As Pablo mentioned, one of our priorities this year has been disciplined execution, focusing our product investments on the areas where we can create the greatest value for our customers while strengthening the long-term value of the Freightos platform. During the second quarter, our work centered around three main areas. The first is building deeper workflow solutions. During Q2, we continued making progress across both our shipper and freight forwarder solutions. For enterprise shippers, we enhanced the experience within Freightos Procure by bringing key stages of the tender process into a more intuitive end-to-end environment. For example, we worked with a major U.K. enterprise shipper whose global procurement team was manually consolidating lane requirements from regional logistics leaders across emails and spreadsheets before uploading them into our platform.

[Ian Arroyo, Chief Strategy Officer at Freightos]

By enabling those regional teams to enter requirements directly into Freightos Procure, the entire tender process, from lane collection through carrier ranking to final award, now takes place within a single platform. For freight forwarders, we continue developing the next generation of our air, pricing, quoting, and booking experience. While these initiatives serve different customer segments, they are driven by the same philosophy: helping customers manage more of their freight procurement and execution within Freightos rather than solving individual isolated tasks. Ocean freight is a great example of why that matters. Ocean procurement remains highly fragmented, with a wide variety of contract formats, pricing structures, and data standards that still require significant manual effort. Our objective is not simply to digitize those processes. It is to standardize the underlying data that powers them. That makes it easier for customers to generate accurate quotes, compare alternatives, and manage freight more efficiently.

[Ian Arroyo, Chief Strategy Officer at Freightos]

Ultimately, by replacing fragmented manual processes with standardized digital ones, we help customers reduce the time and effort required to manage freight while giving them better data and broader market visibility to make smarter procurement decisions and lower their transportation costs. The second area is the product dimension of ONE Freightos. As Pablo said, ONE Freightos is much more than a branding initiative. From a product perspective, it reflects our portfolio and how it is evolving. Historically, many of our products were developed independently, reflecting both the different customer groups they serve and the way Freightos has grown over time. Today, we are increasingly connecting those capabilities into a more unified platform while still tailoring the experience for freight forwarders, enterprise shippers, and SMB customers. Our customers do not think in terms of individual applications. They think about getting work done.

[Ian Arroyo, Chief Strategy Officer at Freightos]

Whether that is moving from market intelligence into procurement into booking into shipment management, our goal is to make those transitions increasingly seamless for the customer. A critical part of that vision is multimodality, the ability to manage ocean, air, and land freight within a single platform. We believe that is one of Freightos' most important long-term differentiators, and in the second half of the year, we expect to bring more of those capabilities into the market. Over time, we believe this will make Freightos easier to adopt, easier to expand across customer organizations, and ultimately, more valuable as customers rely on us for a broader portion of their freight operations. For Freightos, this is much more than a product strategy. As we become embedded across more of the freight workflows, we increase the number of customer interactions we support around every shipment.

[Ian Arroyo, Chief Strategy Officer at Freightos]

That creates more opportunities to deliver value, to deepen customer relationships, and over time, monetize a larger portion of the freight journey. The third area is accelerating how we build products. Alongside the evaluation of our portfolio, we are also modernizing the underlying architecture that supports it. As part of our long-term platform strategy, we are migrating products onto a common technology foundation designed to accelerate innovation and AI-assisted development. This common foundation is an important enabler of ONE Freightos, allowing us to deliver a more unified customer experience while accelerating the pace of innovation. During Q2, we continued building customer capabilities on that foundation while expanding the use of AI across our product development process, from product design and prototyping through to software development. In the second half of the year, customers will begin benefiting from capabilities built on this new foundation.

[Ian Arroyo, Chief Strategy Officer at Freightos]

Much of this work happens behind the scenes, but it is important because it supports faster innovation, AI-assisted development, and intelligent customer workflows. We also believe AI is most valuable when it is connected to trusted freight data and embedded directly into customer operations. That is the approach we are taking, using AI not simply to automate a task, but to help customers make better decisions across their procurement, pricing, booking, and execution life cycles. Together, these efforts reflect continued execution against the priorities we laid out earlier this year. We are building deeper workflow solutions, bringing more of our platform together through ONE Freightos, and creating a technical foundation that allows us to innovate faster.

[Ian Arroyo, Chief Strategy Officer at Freightos]

We believe these investments will strengthen customer adoption today while creating a larger platform for expansion, monetization, and transaction growth over time. With that, I will turn it back to Pablo to walk through our guidance.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Thanks, Ian. Now turning to our outlook. On transactions, our outlook assumes that the Middle East recovery continues at roughly the pace we saw in Q2 without a further step-up. We are not assuming a full normalization of those routes. We are reflecting what we have actually observed. Excluding Middle East-affected routes, our underlying transaction growth remains in the 20%-30% range, which is consistent with our long-term model. But in total, we assume lower teens growth and revise our full-year expectations slightly upwards to 12%-14% growth year-on-year. GVP guidance reflects both those transactions volumes and our assumption that the air freight rates remain at approximately current levels. We are also improving our yearly guidance to 19%-21% growth year-on-year. On revenue, we expect $7.7 million-$7.8 million in Q3 and narrowed the range for the full-year expectations to $30.4 million-$31.0 million.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

The Q2 platform revenue outperformance, driven primarily by the Clearit refund claims activity that I described earlier, was mostly a one-time dynamic. We don't expect that to repeat at the same level. At the same time, the SaaS execution challenges we discussed are real. Middle East routes are still at risk, and our updated revenue guidance reflects that reality. We remain committed to accelerating pipeline conversion into booking, which we expect to drive revenue growth in 2027. We are protecting the path to adjusted EBITDA breakeven through the cost discipline and focused investment approach we have been executing against all year. We expect adjusted EBITDA of -$1.3 million to -$1.2 million in Q3 and a loss lower than a million in Q4. This trajectory reflects crossing breakeven at some point during Q4 and reaching a meaningful milestone we have repeatedly committed to.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Before we open up for questions, let me bring it back to the three things I outlined at the top of the call. First, we continue to strengthen Freightos' position as the infrastructure layer for global freight seamlessly connecting the freight industry. Let me highlight that the addition of Korean Air, 75 active carriers on the platform, 15% transactions growth year-on-year, and a record of GVP of $422 million. All of this reflects our strategic approach to create a network that is deeper, more connected, shares interoperability standards, and increasingly central to how the industry operates. Second, we are executing against the plan we laid out at the beginning of the year. In Q1, that work was largely organizational.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

In Q2, it's showing up in the product, in the workflow improvements Ian described, in the unification of our portfolio under ONE Freightos, and in the architectural foundation that will allow us to move faster. On the solution side, execution is not yet where it needs to be. Our priority for the second half is converting customer demand into bookings, implementations, and recurring revenue. The pipeline is healthy, the product is evolving, and we need to close the gap between those inputs and bookings. That's our focus for the second half. Third, our financial execution is improving. We expect to exit the year on an adjusted EBITDA breakeven run rate and to become cash generative during the first half of 2027. With $21.4 million in cash, we have the resources to reach that milestone and to continue investing beyond it.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Freightos has the network, data, and customer relationships to become increasingly important infrastructure for global trade. Our responsibility now is to turn that position into more predictable growth and sustainable cash generation. Thank you for joining us today and sharing your time.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Okay, we will now move to the Q&A. First question was from the line of George Sutton. George, you can unmute.

[Analyst]

Thank you. I wanted to make sure I understood on the solutions go-to-market changes that you might be making. It seems like a market where there is a lot of volatility in prices, which would seem to be a great scenario for you to sell solutions. What do you see changing here? You mentioned you need to improve the execution in the back half of the year.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Well, we are seeing as changes that first with our unified approach from a product perspective, workflow. The value that we are giving to the customers and the value that they are perceiving from us is increasing. That is helping us to improve our pipeline. At the beginning of the year, in the previous call, I said that we have generated 2x pipeline versus last year, and we are continuing to grow that in this quarter by 30%. We need to be closer in the sales cycles, achieving the right milestones, the right conversations to be able to close it. We see from a market perspective that there is a lot of uncertainty in the market still, so that makes the customers to rethink and think the value, how to spend the budget that they have, so with some budget constraints.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

And we also see some competition from a pricing perspective that are trying to get the prices down. That is the things that we need to be on top of. We need to be focusing on executing, and we need to focus on shorten that gap.

[Analyst]

So you specifically referenced pressure on renewals. I am just curious, so you are handling that basically by bringing people into the ONE Freightos platform, which would give them dramatically more views and capabilities? Is that the-

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Yes. We are bringing it into ONE Freightos platform. We are continue developing new features and new product capabilities, as Ian mentioned, and provided a broader value proposition to the customers.

[Analyst]

Got you. And then just one other question on the carriers that fall below the threshold. These are not carriers that leave the platform. They just simply did not execute enough transactions. I am curious, how do you reach out to them and work with those types of carriers? And can you confirm they are not falling off the platform, they are just not executing?

[Pablo Pinillos, CEO and Interim CFO at Freightos]

And you are totally right on that. They did not fall off the platform. They are still on the platform, and we still see that they continue to do some bookings. We reach out directly to them to see how can we help them and how can we maximize the value of the platform with them. That is our strategy with those type of carriers.

[Analyst]

Okay. Thank you very much.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Thank you.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Okay. We have a few questions on the chat. First question is about cash. First part is what was the change in cash this quarter? I believe we answered that.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

No, I can answer that.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Yeah.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

We went from $23.5 million in cash at the end of Q1 to $21.4 million in cash at the end of Q2, so that's a $2.1 million change.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

The second part is what do you expect cash burn to be in the next four quarters until reaching cash flow positive?

[Pablo Pinillos, CEO and Interim CFO at Freightos]

As I said several times, our cash burn is very similar to our adjusted EBITDA numbers. For Q2, you have seen that our adjusted EBITDA numbers was -$2 million and cash burn was $2.1 million. So we expect to burn for the rest of the year what we are guiding the market at. Probably for the beginning of next year, adding no more than $500,000 on top of that, until we become cash positive.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Next question is transaction grew 15% while unique buyer users increased only 4%, indicating higher usage among existing customers. What is driving that increase?

[Pablo Pinillos, CEO and Interim CFO at Freightos]

We believe that mainly what is driving that increase is two things. The value that the existing users see in our platform. We have the data to prove that when we add new carriers into the platform and new capacity into the platform, our Freightos community increase the number of transactions in an average of five times in three quarters and close to seven times in four quarters and so on. That is what we usually see, and this is confirming the trend.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

And-

[Pablo Pinillos, CEO and Interim CFO at Freightos]

It is independent of the number of users using the platform. It is the times that they use the platform.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

The last question is, despite better than expected platform KPIs and a Q2 revenue beat, the midpoint of full-year revenue guidance is essentially unchanged. Is the main offset weaker solutions expectations for the second half?

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Well, I said it during the call today that one of the things that brought the better than expected Q2 results was Clearit, which we expect that not to continue over the year. We also came out with a 4% decline year-on-year from a solutions perspective. So we are adjusting our full year guidance in light of those numbers.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Okay. That concludes also the Q&A session.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Thank you, everyone.

[Anat Earon-Heilborn, VP of Investor Relations at Freightos]

Thanks. Bye.

[Pablo Pinillos, CEO and Interim CFO at Freightos]

Bye.

Participants

Executives

• Anat Earon-Heilborn, VP of Investor Relations
• Pablo Pinillos, CEO and Interim CFO
• Ian Arroyo, Chief Strategy Officer

Analysts

• Analyst