Freight Technologies says revenue rose 6.6% Y/Y for the first half of 2024

seekingalpha

06 Sep 2024

Freight Technologies (NASDAQ:FRGT) announced that it achieved a revenue increase of 6.6% year-over-year, reaching about $8.1 million for the first half of 2024.
Revenue from the Fr8Fleet business grew over 100% compared to the previous year, driven by an 82% jump in shipments.
The company also achieved improved gross profits, which grew 40% year-over-year to $1 million, with gross margin percentage climbing 280 basis points to 11.8%.
Looking ahead to the second half of the year, it has revised its full year 2024 revenue forecast, now projected to be in the range of $15 million to $20 million.
"The strength of economic activity and trade within Mexico, the US, and cross-border regions continues to fuel a dynamic freight market," Javi Selgas, CEO of Fr8Tech, stated.
FRGT is +2.19% to $0.1767
Source: Press Release

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Revenue from the Fr8Fleet business grew...</p>\n<a href=\"https://seekingalpha.com/news/4147418-freight-technologies-says-revenue-rose-66-yy-for-the-first-half-of-2024\">Source Link</a>\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4164","symbol_name":"特殊金融服务","start_time":0,"source_url":"https://seekingalpha.com/news/4147418-freight-technologies-says-revenue-rose-66-yy-for-the-first-half-of-2024","article_id":"2465571880","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465571880","pubTimestamp":1725560225,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Freight Technologies  announced that it achieved a revenue increase of 6.6% year-over-year, reaching about $8.1 million for the first half of 2024. Revenue from the Fr8Fleet business grew over 100% compared to the previous year, driven by an 82% jump in shipments. The company also achieved improved gross profits, which grew 40% year-over-year to $1 million, with gross margin percentage climbing 280 basis points to 11.8%. Looking ahead to the second half of the year, it has revised its full year 2024 revenue forecast, now projected to be in the range of $15 million to $20 million. \"The strength of economic activity and trade within Mexico, the US, and cross-border regions continues to fuel a dynamic freight market,\" Javi Selgas, CEO of Fr8Tech, stated. FRGT is +2.19% to $0.1767 Source: Press Release","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4164":"特殊金融服务","FRGT":"Freight Technologies, Inc.","BK4131":"航空货运与物流"},"translate_title":"Freight Technologies表示2024年上半年收入同比增长6.6%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FRGT":1},"content_text":"Freight Technologies (NASDAQ:FRGT) announced that it achieved a revenue increase of 6.6% year-over-year, reaching about $8.1 million for the first half of 2024. Revenue from the Fr8Fleet business grew over 100% compared to the previous year, driven by an 82% jump in shipments. The company also achieved improved gross profits, which grew 40% year-over-year to $1 million, with gross margin percentage climbing 280 basis points to 11.8%. Looking ahead to the second half of the year, it has revised its full year 2024 revenue forecast, now projected to be in the range of $15 million to $20 million. \"The strength of economic activity and trade within Mexico, the US, and cross-border regions continues to fuel a dynamic freight market,\" Javi Selgas, CEO of Fr8Tech, stated. FRGT is +2.19% to $0.1767 Source: Press Release","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}