---------  ---------  ----------  ---------- 
(a) Acquisition of an initially 
consolidated subsidiary: 
Working capital (excluding cash 
 and cash equivalents)            $ (1,271)        $ -   $ (1,271)         $ - 
Property and equipment                   51          -          51           - 
Right-of-use assets                     350          -         350           - 
Intangible assets                     3,538          -       3,538           - 
Goodwill                              2,546          -       2,546           - 
Shares issued                         (885)          -       (885)           - 
Payable for acquisition of 
 subsidiary                           (629)          -       (629)           - 
Lease liabilities                     (350)          -       (350)           - 
                                  ---------  ---------  ----------  ---------- 
Acquisition of a subsidiary, net 
 of cash acquired                   $ 3,350        $ -     $ 3,350         $ - 
                                  ---------  ---------  ----------  ---------- 
(b) Significant non-cash 
transactions: 
Right-of-use asset recognized 
 with corresponding lease 
 liability                              $ -       $ 78         $ -       $ 239 
                                  ---------  ---------  ----------  ---------- 
Issuance of shares for previous 
 acquisition of a subsidiary            $ -        $ -         $ -       $ 113 
                                  ---------  ---------  ----------  ---------- 
 
 
RECONCILIATION OF IFRS TO NON-IFRS GROSS PROFIT AND GROSS MARGIN 
 (in thousands, except gross margin data) 
                                    Three Months Ended    Nine Months Ended 
                                       September 30,         September 30, 
                                      2024       2023        2024      2023 
                                    ---------  ---------  ----------  ------- 
                                        (unaudited)           (unaudited) 
IFRS gross profit                     $ 4,023    $ 2,802    $ 11,047  $ 8,530 
Add: 
Share-based compensation                  123        432         313      591 
Depreciation and amortization             349        315         972      871 
                                    ---------  ---------  ----------  ------- 
Non-IFRS gross profit                 $ 4,495    $ 3,549    $ 12,332  $ 9,992 
                                    ---------  ---------  ----------  ------- 
IFRS gross margin                      65.0 %     54.9 %      64.2 %   56.8 % 
                                    ---------  ---------  ----------  ------- 
Non-IFRS gross margin                  72.7 %     69.5 %      71.7 %   66.5 % 
                                    ---------  ---------  ----------  ------- 
 
 
RECONCILIATION OF IFRS OPERATING LOSS TO ADJUSTED EBITDA 
 (in thousands) 
                                  Three Months Ended      Nine Months Ended 
                                     September 30,          September 30, 
                                    2024       2023        2024        2023 
                                  ---------  ---------  ----------  ---------- 
                                      (unaudited)            (unaudited) 
Operating loss                    $ (4,862)  $ (9,292)  $ (14,910)  $ (73,158) 
Add: 
Share-based compensation                982      3,375       2,576       4,503 
Depreciation and amortization           803        719       2,213       2,081 
Share listing expense                     -          -           -      46,717 
Non-recurring expenses                    -          -           -         499 
Transaction-related costs                 -          -           -       3,703 
Changes in the fair value of 
 contingent consideration                 -          -           -       (642) 
Acquisition-related costs               283          -         283           - 
Reorganization                            -        884           -         884 
Operating expense settled by 
 issuance of shares                       -        184         351         184 
                                  ---------  ---------  ----------  ---------- 
Adjusted EBITDA                   $ (2,794)  $ (4,130)   $ (9,487)  $ (15,229) 
                                  ---------  ---------  ----------  ---------- 
Adjusted EBITDA margins               -45 %      -81 %       -55 %      -101 % 
 
 
RECONCILIATION OF IFRS LOSS TO NON-IFRS LOSS AND LOSS PER SHARE 
 (in thousands, except share and per share data) 
                                  Three Months Ended      Nine Months Ended 
                                    September 30,           September 30, 
                                   2024        2023        2024        2023 
                                ----------  ----------  ----------  ---------- 
                                     (unaudited)             (unaudited) 
IFRS loss attributable to 
 ordinary shareholders           $ (2,724)   $ (7,160)  $ (12,654)  $ (62,158) 
Add: 
Share-based compensation               982       3,375       2,576       4,503 
Depreciation and amortization          803         719       2,213       2,081 
Share listing expense                    -           -           -      46,717 
Non-recurring expenses                   -           -           -         499 
Transaction-related costs                -           -           -       3,703 
Changes in the fair value of 
 contingent consideration                -         109         (6)       (794) 
Acquisition-related costs              283           -         283           - 
Reorganization                           -         884           -         884 
Operating expense settled by 
 issuance of shares                      -         184         351         184 
Change in fair value of 
 warrants                          (1,485)     (1,577)       (445)     (8,981) 
                                ----------  ----------  ----------  ---------- 
Non IFRS loss                    $ (2,141)   $ (3,466)   $ (7,682)  $ (13,362) 
                                ----------  ----------  ----------  ---------- 
Non IFRS basic and diluted 
 loss per Ordinary share          $ (0.04)    $ (0.07)    $ (0.16)    $ (0.32) 
                                ----------  ----------  ----------  ---------- 
Weighted average number of 
 shares outstanding used to 
 compute basic and diluted 
 loss per share                 48,846,805  47,591,775  48,321,451  43,839,445 
 

Logo - https://mma.prnewswire.com/media/2319256/4496202/Freightos_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/freightos-reports-third-quarter-2024-results-revenue-up-21-record-since-going-public-302315293.html

SOURCE Freightos

/CONTACT: +972-55-666-4371

(END) Dow Jones Newswires

November 25, 2024 07:00 ET (12:00 GMT)