NetworkNewsBreaks – Freight Technologies Inc. (N
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Posted On: 08/26/2022 6:42:12 PM
NetworkNewsBreaks – Freight Technologies Inc. (NASDAQ: FRGT) Announces Record Revenue for Q2 2022
Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a technology company developing solutions to optimize and automate the supply chain process and providing its Fr8App platform for B2B cross-border shipping in the NAFTA region, today announced its revenue for the second quarter of 2022 for the period ended June 30, 2022. Among the highlights, Fr8Tech reported record quarterly revenue of $8.5 million for Q2 2022, up 60% from $5.3 million in Q1 2022 and up 45% from $5.9 million in Q2 2021. “Second quarter 2022 revenue, a record, increased 60% on a sequential quarter basis and 45% on a year-over-year basis,” said Fr8Tech CEO Javier Selgas. “The growth reflects greater traction in each of our dedicated capacity product, Fr8Fleet, and our U.S. domestic Fr8App services. While the distribution channel capacity scarcity improved and fuel price increases stabilized in the second quarter, we believe it is prudent to modify our full year guidance, and we continue to expect revenue to increase sequentially throughout the year.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a technology company developing solutions to optimize and automate the supply chain process and providing its Fr8App platform for B2B cross-border shipping in the NAFTA region, today announced its revenue for the second quarter of 2022 for the period ended June 30, 2022. Among the highlights, Fr8Tech reported record quarterly revenue of $8.5 million for Q2 2022, up 60% from $5.3 million in Q1 2022 and up 45% from $5.9 million in Q2 2021. “Second quarter 2022 revenue, a record, increased 60% on a sequential quarter basis and 45% on a year-over-year basis,” said Fr8Tech CEO Javier Selgas. “The growth reflects greater traction in each of our dedicated capacity product, Fr8Fleet, and our U.S. domestic Fr8App services. While the distribution channel capacity scarcity improved and fuel price increases stabilized in the second quarter, we believe it is prudent to modify our full year guidance, and we continue to expect revenue to increase sequentially throughout the year.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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