Israel-Hamas war impacts Freightos operations as losses persist

Capt. John

Freightos, a digital marketplace for international ocean and air shipping, saw losses widen in the third quarter despite a cost initiative last summer while the freight sector’s prolonged downturn keeps a lid on revenues and the war in Gaza clouds its future.

The Israeli tech company posted an operating loss of $9.2 million for the three months ending Sept. 30 compared to $5.3 million in 2022. The loss was also greater than the $5.9 million in the second quarter. In July, Freightos laid off 13%...

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