Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a technology company offering its custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning that offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, on Thursday reported its financial results for the full year 2023, which ended on Dec. 31, 2023. Among other highlights, the company stated Fr8Fleet attained an annual revenue of $17.1 million with 48% year-over-year growth. “As we’ve discussed before, 2023 was a challenging year for many across the freight industry as participants struggled to find a balance between supply and demand after the COVID-19 pandemic spurred significant disruptions to global supply chains. We weathered the storm by focusing on our core markets and our competitive strength as a data-driven networking solution for the freight industry, and by being selective with our relationships with top-tier customers and carriers,” Fr8Tech CEO Javi Selgas stated in the news release. “We also continued to invest in Fr8App to make it more intuitive and powerful for our users and extend its capabilities. To that end and to better serve our customers and the industry, we will be announcing additional offerings to bring more end-to-end, process-improving solutions to the freight transportation market. Stay tuned.”
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About Freight Technologies Inc.
Freight Technologies (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App Inc. (“Fr8App”), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (“OTR”) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, visit the company’s website at Fr8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at http://ibn.fm/FRGT
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