Freightos Limited, a digital freight platform, recently announced that its founder Zvi Schreiber would be stepping down from its board of directors, effective Thursday. This move was accompanied by a significant decline in the company's stock prices, with shares falling roughly 30% shortly after the announcement. The sudden change in leadership has raised questions about the company's future prospects and ability to achieve its growth goals.
['The company stated that its board remains fully constituted in accordance with applicable governance requirements while searching for a new CEO. Despite this, the resignation of Schreiber comes at a time when Freightos is still posting significant losses. According to the latest SEC filing, the company reported an IFRS loss of $17.5 million for the full year of 2025.', ["This follows an adjusted loss of $19 million for 2023 and losses of $14.6 million and $12.4 million in 2022 and 2021, respectively. The company's financial performance has been a subject of concern, with revenue growth not translating into profitability. In July 2023, Freightos laid off 13% of its staff, or about 50 people, as part of an effort to reduce costs.", ["Despite this, the company reported revenue of $29.5 million for the year ending December 31, 2025, an increase of 24% compared to $23.8 million in 2024. However, the company's adjusted EBITDA was negative $11.2 million for 2025, an improvement over a negative $12.6 million for 2024.", ["The company also reported having $27.9 million in cash and cash equivalents at the end of December 2025. This suggests that Freightos has sufficient liquidity to continue its operations and invest in growth initiatives. However, the company's financial performance remains a concern, with significant losses and declining profitability.", ["Despite setbacks, company leadership still projects its first profit for the fourth quarter of 2026. In Monday's financial report, CFO and interim CEO Pablo Pinillos stated that the company's cash position fully funds its plans and enables it to reach breakeven by the end of 2026 as anticipated.", ["Pinillos also emphasized the importance of sequencing growth in 2026, focusing resources on solution adoption and strengthening the platform's network effects. This approach positions the company for higher growth in 2027 and beyond, with a renewed focus on digitalizing global freight.", ["The resignation of Schreiber has raised questions about the company's leadership stability and ability to execute its growth strategy. However, Freightos' financial performance suggests that the company is making progress towards profitability, albeit slowly. The upcoming year will be crucial in determining the company's future prospects.", ["As the digital freight platform continues to navigate its challenges, it remains to be seen whether Schreiber's resignation will have a lasting impact on the company's trajectory. One thing is certain, however: Freightos' leadership must now focus on executing its growth strategy and delivering results for shareholders.", ["With significant losses and declining profitability still in the balance, Freightos' future hangs in the balance. The company's ability to adapt to changing market conditions and deliver value to customers will be crucial in determining its long-term success."]]]]]]]]]
The sudden resignation of Freightos' founder Zvi Schreiber has raised concerns about the company's leadership stability and ability to execute its growth strategy.
