FRGT - Freight Technologies records highest monthly increase in new clients on Fr8App platform inception

April, 05 2023 07:44 AM Freight Technologies, Inc.

2023-04-05 07:44:35 ET

Freight Technologies ( NASDAQ: FRGT ) has reported a record increase in the number of new shipper clients added during the month of March 2023. The company expects recurring monthly stream from new accounts to platform during the month of March of more than $1 million per month, starting to ramp in April.
The company has added new clients in a variety of sectors including automotive, beverage, motorcycles and consumer goods.
On March 7, the company reached $4.4M in quarterly revenue for Q4 2022 with YTD 2022 revenue at an impressive $25.9M, up 20.6% Y/Y.
The company expects FY23 revenue guidance of $36M (+40% Y/Y) vs. $35.2M (1 analyst).
The company had announced 10 to 1 reverse share split to regain Nasdaq compliance.
Source: Press Release

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