Freight Technologies Reports Strong Preliminary 2024 Mid-Year Results and Announces Exciting Advances in its Product Offerings
Freight Technologies, Inc. - Ordinary Shares (FRGT)
Company Research
Source: GlobeNewswire
HOUSTON, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced its preliminary financial results for the first half of 2024, which concluded on June 30, 2024, as well as provided an update on the advancement of its software offerings. Fr8Tech achieved a notable revenue increase of 6.6% year-over-year, reaching approximately $8.1 million for the first half of 2024. Further, revenue from the Fr8Fleet business grew over 100% compared to the previous year, driven by an 82% jump in shipments. The Company also achieved improved gross profits, which grew 40% year-over-year to $1.0 million, with gross margin percentage climbing 280 basis points to 11.8%. Looking ahead to the second half of the year, Fr8Tech has revised its full year 2024 revenue forecast
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FRGT
News
- Freight Technologies Announces Commercial Launch of Fleet RocketGlobeNewswire
- Freight Technologies reports headcount restructuring, 20% reduction in workforce [Yahoo! Finance]Yahoo! Finance
- Freight Technologies Advances Transformation to Accelerate Innovation, Reduce Costs, and Drive GrowthGlobeNewswire
- Freight Technologies Completes $3 Million Private Placement Offering of Convertible Preferred Stock [Yahoo! Finance]Yahoo! Finance
- Freight Technologies Completes $3 Million Private Placement Offering of Convertible Preferred StockGlobeNewswire
FRGT
Sec Filings
- 2/3/25 - Form 8-K
- 1/30/25 - Form 8-K
- 1/17/25 - Form 8-K
- FRGT's page on the SEC website