The Q2 revenue guidance decline (-3% to 0% YoY) is a negative signal for near-term momentum, but the maintained FY 2026 adjusted EBITDA breakeven target provides a catalyst path. Monitor cash burn rate — at $4.5M quarterly operating cash burn, the $23.5M cash position provides ~5 quarters of runway. The warrant (CRGOW) is highly illiquid; any meaningful price move would require very low volume.
Price Chart
Executive Summary
Freightos reported Q1 2026 revenue of $7.2M (+3% YoY) but IFRS loss widened to $6.5M from $4.5M due to $1.5M in reorganization expenses. Q2 2026 revenue guidance of $7.2-7.4M implies -3% to 0% YoY decline, while FY 2026 guidance of $30.2-31.4M (+3-6%) was maintained alongside adjusted EBITDA breakeven target by end of 2026. The stock is a $3M market cap warrant (CRGOW) with no trading history in the calibration sample, making this a low-liquidity micro-cap event.
Key Facts
- Q1 2026 revenue $7.156M, up 3% from $6.945M in Q1 2025
- IFRS net loss $6.461M vs $4.499M in Q1 2025, driven by $1.488M reorganization expenses
- Adjusted EBITDA improved to -$2.836M from -$3.046M in Q1 2025
- Cash and short-term deposits $23.5M at March 31, 2026, down from $27.9M at December 31, 2025
- Q2 2026 revenue guidance $7.2-7.4M implies -3% to 0% YoY decline
- FY 2026 revenue guidance $30.2-31.4M (+3-6% YoY), adjusted EBITDA guidance -$6.9M to -$6.2M
- Platform transactions 425k in Q1 2026, up 15% YoY; GBV $343M, up 24% YoY
- Carriers on platform increased to 79 from 71 YoY; unique buyer users ~20.6k
- CRGOW is a warrant with $3M market cap and no settled trading history in calibration sample
Financial Impact
Revenue growth of 3% YoY is modest; IFRS loss widened by 44% to $6.5M; cash burn of ~$4.5M in operating cash flow in Q1 2026
Risk Factors
- Q2 2026 revenue guidance implies YoY decline, signaling potential demand weakness
- Cash burn of $4.5M in operating cash flow in Q1 2026; $23.5M cash provides limited runway
- Reorganization expenses of $1.5M suggest ongoing restructuring costs
- Warrant (CRGOW) has $3M market cap with no settled trading history — extreme liquidity risk
- Global freight environment remains challenging with Middle East disruption and tariff risks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-066012 |
| Document: tm2615567d1_6k.htm | 0001104659-26-066012 |
| Document: 0001104659-26-066012-index-headers.html | 0001104659-26-066012 |
| Document: 0001104659-26-066012-index.html | 0001104659-26-066012 |
| Document: 0001104659-26-066012.txt | 0001104659-26-066012 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 26, 2026 22w ago | 6-K | $0.2100 $0.2100 | · 0.00% | ▲ +2.06% | — |
Apr 15, 2026 27w ago | 6-K | $0.2100 $0.2100 | · 0.00% | ▼ −5.82% | — |
Apr 1, 2026 29w ago | 144 | $0.2100 $0.2100 | · 0.00% | ▼ −9.88% | — |
US Market Status
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