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Freightos

freightos.com ↗

Freightos runs an online marketplace and price index for booking global freight.

Losing its protection
Assessed 23 July 2026 · Evidence as of 23 July 2026
The structural protection is eroding.
On the recordSince 23 July 2026 · Checkable from August 17, 2026 · Every call on the record Checkpoint: Q2 2026 earnings report, first full quarter after the Schreiber 13D activist filing
The call

Freightos holds a real data asset in its freight indices but the marketplace business around it is losing money, growing slowly, and now under activist pressure to change course.

Freightos runs an online marketplace where shipping companies and freight forwarders check rates and book cargo space, plus it publishes daily shipping price indices (FBX and FAX) that are used for futures contracts on major exchanges. The company is hard to replace in one specific way: airlines like Lufthansa and Air France trust it to handle their booking integrations, and its price indices are the standard reference for the industry, like how oil traders use WTI crude prices. But the rest of the business is under heavy pressure. AI companies like Greenscreens (just bought for $160 million) and DAT can now predict freight prices with near-perfect accuracy, which makes Freightos' paid pricing tools less special. Meanwhile, large forwarders like DSV are building their own internal platforms instead of paying Freightos. The company lost $17.5 million on $29.5 million in revenue last year, is growing only 3 percent year-over-year, and the founder just filed a complaint demanding a management shake-up. The one thing that could save it: prove by late 2026 that the company can actually make money again by cutting costs and that the airline booking integrations cannot be easily replaced.

Why
01
AI pressure: Greenscreens.ai and DAT Ratecast. ML pricing tools now quote instant freight rates directly, chipping at the pricing and quoting revenue Freightos sells as 'Solutions' Could AI do the core job? Only partly.
02
Bigger players: WiseTech CargoWise. CargoWise already locks in forwarders as their system of record and could extend upward into the marketplace layer Freightos occupies. Could a giant copy it? Probably.
03
What protects it. Its FBX/FAX indices are licensed to CME and SGX for futures contracts, giving Freightos data no rival easily replicates.
What would change this call
Q2 2026 earnings (due Aug 17, 2026) show transaction growth still below 20% YoY. Marketplace momentum is not reaccelerating despite cost cuts.
Resolution of Schreiber's 13D activist push (board seats, sale, or strategy change) by Q4 2026. Founder pressure forces a structural change or forced sale of the company.
Any major forwarder or carrier (e.g., DSV, Maersk, DHL) confirmed moving bookings off Freightos to an in-house platform. Large customers are defecting from the marketplace to build their own tools.
Key numbers
  • Q1 2026 revenue grew just 3% YoY to $7.2M (2026-03-31)
  • FY2025 net loss was $17.52M (2025-12-31)
  • Stock near $1.21-1.43, down from $31.15 high (2026-07-22)
Named risks
  • Revenue growth deceleration to 3% YoY in Q1 2026 undermines guidance credibility. Severity: high
  • Activist founder Zvi Schreiber's 13D filing could trigger proxy fight or forced strategic review. Severity: high
  • Stock trading near multi-year lows ($1.21-1.43) raises Nasdaq compliance and delisting concerns. Severity: medium
  • AI-driven pricing tools like Greenscreens.ai and DAT Ratecast commoditize the Solutions revenue segment. Severity: medium
  • New CEO Pablo Pinillos still in unproven 'transition year' amid cost cuts and activist pressure. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
WiseTech (CargoWise)losing toForwarders called 'trapped' in CargoWise monopoly amid price hikes, per The Loadstar June 29, 2026
DSVlosing toDSV reportedly building its own in-house digital freight platform, moving away from third-party systems
Greenscreens.ailosing toAcquired by Triumph Financial for $160M in February 2025, consolidating ML-based freight pricing
DAT (Ratecast)contestingDAT Ratecast claims over 95% accuracy across 7M daily rate predictions (vendor-claimed, 2022)
FlexportcontestingNamed as competing digital freight forwarder platform in 2026 software comparison guides
Questions people ask
Is Freightos profitable in 2026?
No. Freightos posted a FY2025 net loss of $17.52M and Q1 2026 revenue growth slowed to just 3% YoY ($7.2M). The company cut FY2026 guidance to $30.2M-$31.4M and is targeting only Adjusted EBITDA breakeven by end of 2026, not GAAP profit.
Did Freightos have layoffs?
Yes. On March 26, 2026, Freightos announced a global workforce reduction of up to 15%, incurring about $1.3M in one-time charges to generate an estimated $4.5M in annualized savings starting Q4 2026, as part of its push toward Adjusted EBITDA breakeven.
Could AI replace Freightos?
Partly. AI-driven rate quoting is being commoditized by rivals like Greenscreens.ai (acquired for $160M in February 2025) and DAT Ratecast, but Freightos's FBX/FAX indices with CME/SGX futures and direct carrier integrations like Lufthansa are harder to replicate with generic AI.
Who is Freightos's biggest competitor?
WiseTech's CargoWise dominates freight-forwarder software and, per The Loadstar on June 29, 2026, forwarders are described as 'trapped' due to switching costs, while large shippers like DSV are reportedly building in-house platforms instead of relying on marketplaces like Freightos.
Who owns Freightos?
Freightos Limited (Nasdaq: CRGO) is publicly traded, having gone public via SPAC merger with Gesher I Acquisition Corp in January 2023. As of June 29, 2026, founder Zvi Schreiber disclosed a 6.1% stake via Schedule 13D, pushing for strategic or leadership changes.
What is Freightos's CEO situation?
Founder Zvi Schreiber stepped down and CFO Pablo Pinillos became interim CEO on January 31, 2026, later confirmed as permanent CEO while retaining the CFO title. As of the May 2026 earnings call, Pinillos was described as still in a 'transition year.'
Timeline
  • 2026-07-15Preliminary Q2 2026 KPIs: 458,000 transactions, up 15% YoY, above guidance
  • 2026-06-29Founder Zvi Schreiber files Schedule 13D disclosing 6.1% stake, demands changes
  • 2026-05-26Q1 2026 results: revenue $7.2M (+3% YoY), FY2026 guidance cut to $30.2M-$31.4M
  • 2026-03-26Freightos announces 15% global workforce reduction to reach EBITDA breakeven
  • 2026-01-31CFO Pablo Pinillos named interim CEO, succeeding founder Zvi Schreiber
  • 2025-12-17Freightos announces CEO succession process, Schreiber to move to board
  • 2025-02-26Rival Greenscreens.ai acquired by Triumph Financial for $160M
  • 2025-02-18Freightos launches Index Linking Toolkit tied to FBX/FAX with CME/SGX futures
  • 2024-08-01Freightos completes acquisition of Shipsta procurement platform
  • 2023-01-01Freightos goes public on Nasdaq via SPAC merger with Gesher I Acquisition Corp
Revision history
23 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
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