Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”) is 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. The company released fourth quarter 2022 revenue results for the period ended Dec. 31, 2022, reporting $4.4 million in quarterly revenue for Q4 2022, as well as an impressive $25.9 million in YTD 2022 revenue. With eyes set firmly on the future, Fr8Tech’s management announced 2023 revenue guidance of $36 million. “We are proud to report another successful year of growth in 2022, with YTD revenue up 20.6% from the prior year,” said Paul Freudenthaler, Fr8Tech’s CFO. “Despite some challenges in Q4, such as reduced demand from our largest client in 2021, which represents an isolated instance, we are optimistic about our business prospects and are projecting approximately $36 million in revenues for 2023, which represents nearly 40% year-over-year growth relative to 2022.”
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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, please visit Fr8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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