Freight Technologies, Inc. Preliminary Results for Q4 2023 Show Strong Revenue Growth
Fr8Tech marks its third consecutive quarter of notable revenue growth in Q4 2023 achieving approximately $5 million in quarterly revenue, reflecting 7.5% growth compared to the previous quarter and more than 16% growth compared to the fourth quarter of 2022.
- Fr8Tech marks its third consecutive quarter of notable revenue growth in Q4 2023 achieving approximately $5 million in quarterly revenue, reflecting 7.5% growth compared to the previous quarter and more than 16% growth compared to the fourth quarter of 2022.
- The YTD gross margin percentage rose to 9.3%, showcasing a more than 50-basis point improvement over the prior year-to-date results in 2022.
- Don Quinby, CFO of Fr8Tech, said: "The company continued to demonstrate strong execution in its core offerings for cross-border shipping and dedicated fleet services with the third straight quarter of revenue growth.
- The market has recovered from its lows in late 2022 and early 2023, and we are back on a growth trajectory.