FRGT - InvestorNewsBreaks - Freight Technologies Inc. (NASDAQ: FRGT) Announces Another Quarter of Strong Growth Improved Profitability
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 today announced its financial results for the second quarter of 2023, ending on June 30, 2023. Among the highlights, the company reported steady growth, reflected in a 29% increase in revenue from the previous quarter and a 93% rise in margin compared to the same year-to-date period last year. “We are excited to report another quarter of strong growth and improved profitability at a time when various players in the freight market are facing severe strain and difficulties,” said Paul Freudenthaler, CFO of Fr8Tech. “These results underscore the dedication and hard work of our exceptional team, as well as the effectiveness of our strategic initiatives. As we move forward, we remain committed to further enhancing value for our shareholders while continuing to innovate and drive excellence in our industry.”
To view the full press release, visit https://ibn.fm/L6a67
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.
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