All right. Hello everyone, and thank you all for continuing to join us throughout the day here at the Lytham Partners Spring 2026 Investor Conference. Again, my name is Robert Blum, Managing Partner at Lytham Partners. Up next, we welcome Freightos, ticker symbol of CRGO on the Nasdaq, and the company's Chief Executive Officer and Interim Chief Financial Officer, Pablo Pinillos. Pablo, thank you so much for your participation today. The floor is all yours.
Thank you, Robert. Thank you everyone for joining us today. I'm Pablo Pinillos. I'm the CEO of Freightos. I've been with the company a year and a half. Before the CEO, I was the CFO of Freightos for over one year, and I'm really honored to having taken the role and the possibility to bring this company to its highest value. Right now, the global freight remains a massive industry that is still largely offline and fragmented.
Procurement and booking workflows often still rely on emails, spreadsheets, phone calls, and disconnected systems across the counterparties, which are air, ocean, and land carriers on one side, and importers and exporters in the other side, and freight forwarders between them. This fragmentation becomes increasingly problematic as supply chains become more dynamic and operational decisions needs to happen really fast.
We believe this creates a significant long-term opportunity for digital infrastructure in freight. When we say that the industry needs operational decisions to happen faster, we look at the past few years and see the operations are becoming increasingly complex. Rate volatility, supply chain disruptions, capacity shifts, and geopolitical events increasingly require real-time adjustments.
At the same time, forwarders and shippers need faster and more connected procurement and execution workflows. Carriers increasingly seek better utilization, pricing control, and low-cost digital distribution. Structurally, all participants in the ecosystem are moving towards greater digital connectivity. This is where Freightos operates. We provide software supporting digital freight transactions across pricing, quoting, booking, and procurement workflows.
On top of these software solutions, we also enable real-time digital freight transactions in a three-side marketplace, where freight forwarders book capacity from carriers and importers and exporters book freight services from forwarders.
Strategically, this matters because software adoption drives transaction activity and increase platform liquidity over time. The more deeply customers integrate Freightos into operational workflows, the more transactions activity tends to move through the platform. In fact, solutions customers book about three times more transactions than non-customers.
Once transactions activity scales, the platform itself begins generating valuable operational data. That data supports smarter pricing, benchmarking, indexing, and execution decisions. We believe this becomes increasingly important in freight because customers are operating in environments that are constantly changing and increasingly requires real-time operational intelligence.
This creates a reinforcing cycle across solutions, transactions, and data. Importantly, this reinforcement dynamic becomes stronger with the scale. The network itself become more valuable as more workflows and more transactions activity move through the ecosystem. We first demonstrated this model successfully in air cargo spot bookings.
Over the last several years, Freightos helped pioneer digital real-time air cargo transactions at scale. Today, we believe that our share of international spot air cargo bookings is somewhere in the mid-teens, clearly leading the digitalization of this segment of the industry. We are now applying the same playbook to ocean freight.
Ocean is structurally a significantly larger market, but also one that remains earlier in the digitalization process. In many ways, it resembles where air cargo was several years ago, with limited real-time connectivity and not commercial readiness for a platform model. We believe the same combination of software adoption, workflow integration, and transactions liquidity can gradually develop there as well.
Moreover, the pressure from freight forwarders for more efficiency is increasingly pushing ocean freight towards digitalization. However, so far, we have discussed the spot market, which is less than 50% of all freight.
The majority of international freight is done based on annual contracts. Our procurement management solution address this part. We are extending the model into procurement and tendering workflows as well. Our vision is to enable enterprise shippers to access their contracted capacity via a platform and book transactions digitally.
Let's summarize the broader strategic logic behind the company. First, we are embedding Freightos deeper into daily freight workflows. Second, we're increasingly connecting procurement, pricing, booking, and execution into more unified operational process. Third, this creates growing operational intelligence across fragmented freight networks.
Over time, our objective is to become the neutral infrastructure layer supporting digital freight workflows across the ecosystem. Importantly, we think the value increasingly comes not from enabling transactions, but from being connected to the systems where freight decisions are actually made.
Although we're still in the early days of realizing our bold vision, we are widely adopted and also well-known across the ecosystem. Today, the platform includes a total of 79 active carriers, including 20 of the top 20 air carriers.
These 79 carriers represents about 80% of global air cargo capacity. We have plenty of room for growth within the network we already have. In the last 12 months, we processed approximately 1.7 million transactions in our platform, with an aggregate Gross Booking Value of about $1.4 billion. While our revenue is not directly coming from the GBV, this number highlights the liquidity on our platform.
Thousands of freight forwarders and importers and exporters use our solution or our platform, with over 20,000 individual users. You can also see some of the enterprise importers and exporters among our customers.
This scale strengthens both the network effect and the quality of the operational data generated across the ecosystem. Despite the progress we are seeing, we still believe digital freight penetration remains at the relatively earliest stage. The addressable markets across air cargo, ocean cargo, freight forwarding, and software solutions remain very large.
You can see that we are only scratching the surface. The annual gross booking value of a spot freight is approximately $300 billion, and out of that, $1.4 billion is booked through our platform. At the same time, the software opportunity around procurement, pricing, and workflow management also remains significant.
We believe that our scale, neutrality, workflow integration, and ecosystem connectivity together create a durable, competitive position that becomes increasingly difficult to replicate over time. Our monetization model reflects the dual nature of the platform. On one side, we generate recurring SaaS and data revenue through software solutions.
On the other side, we monetize transactions activity occurring across the platform. We are very focused on operational efficiency and scalability. We are repeatedly committed to reaching adjusted EBITDA breakeven by the end of 2026 with available funds. As we communicate again with our Q1 earnings this week, we are on track to achieve this goal.
Over the past few quarters, we have been making efforts to increase operating leverage, automation, and efficiency across the business, and to align our cost structure with our priorities. Importantly, we believe our current cash position provides sufficient resource to execute our plan while continuing to invest selectively in strategic growth areas.
Our 2026 plan is centered around three operational priorities. First, continue focus on end-to-end workflows across procurement, pricing, booking, and execution. Second, a solution-first approach designed to support long-term platform growth.
Third, increasing focus on customer impact, reliability, and return of investments. Together, we believe these priorities strengthen both the durability and the long-term monetization potential of the platform. The guidance we provide this week reflects our view of 2026 as a transition year, with revenue growth moderating compared to historical rates, as we prioritize workflow adoption, operational execution, and long-term platform positioning.
Looking beyond 2026, we believe the long-term opportunity remains substantial. Our operating framework for 2027 through 2030 assumes strong transactions and revenue growth, ongoing margin expansion, and improving profitability over time.
Underlying this framework is our belief that global freight is still in the earliest stage of digital transformation. We believe Freightos is increasingly positioned as a neutral infrastructure layer, supporting digital freight procurement and transactions globally. With that, I turn it back to you, Robert.
Wonderful. Thank you very much, Pablo, for the presentation. Thank you, of course, everybody here for watching. If there are any questions or perhaps you'd like to schedule a meeting here in the days to come with management, please send me an email. Again, that's Blum, B-L-U-M, @lythampartners.com.
Of course, to learn more about Lytham, make sure you visit our website and stay connected with us on LinkedIn to stay apprised of future events, such as the presentation here with Freightos. We hope everyone enjoys the conference. Has a great day. Pablo, thank you so much for your participation.