HOUSTON, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT; "Fr8Tech" or the "Company"), a logistics management innovation company offering a diverse portfolio of technology-driven solutions, announced its third-quarter results for the period ended September 30, 2025, on December 9, 2025.
"In the third quarter of 2025, we continued to advance our transition toward a software- and AI-driven logistics model. Our AI Lab developed the autonomous voice-agent capabilities that now enhance the recently launched Zayren platform, strengthening our ability to deliver greater automation, accuracy, and real-time intelligence across our solutions. We also continued expanding the adoption and functionality of Fleet Rocket as more customers integrate the platform into their operations. At the same time, we supported a broad base of enterprise-level clients through our forwarding and brokerage services, where our technology is increasingly automating workflows and improving service levels. Despite elevated tariffs and cross-border uncertainty, we improved operating performance through focused execution and ongoing product innovation. As we move into the next quarter, we remain committed to scaling Zayren, advancing Fleet Rocket, and expanding our AI-powered offerings to drive long-term efficiency and value across the logistics ecosystem," noted Javier Selgas, CEO of Fr8Tech.
Business Highlights
-- Waavely gained significant traction in the maritime brokerage market with
existing and new Fr8App customers securing overseas container shipping
services through the online marketplace.
-- Fleet Rocket expanded its TMS capabilities with invoice validation tools,
financial workflow integrations, and deeper data connectivity to customer
platforms. The Company closed additional enterprise-level subscriptions
during the quarter.
-- The Company established multiple new tracking integrations to improve
real-time geolocation data that serves shippers and carriers across North
America.
-- The Company developed fully autonomous voice agents to scale the
capabilities of its AI-driven freight rate prediction and
carrier-matching platform, Zayren, which the Company launched and
announced in a separate release earlier this quarter.
Financial Highlights
-- Q3 2025 operating loss improved year-over-year by $0.4 million, from
($1.7) million in Q3 2024 to ($1.3) million in Q3 2025, driven by
higher-margin brokerage business and lower operating expenses.
-- YTD operating loss improved year-over-year by $1.2 million from ($5.5)
million in YTD 2024 to ($4.3) million in Q2 2025 on higher margin
brokerage business and lower operating expenses.
-- For the nine months ended September 30, 2025, the Company strengthened
its equity position, increased cash balances, and lowered interest
expense, supported by improved working capital and more efficient capital
structure management.
Due to Fr8Tech's continued shift toward higher-margin software and AI-driven solutions, along with the sustained impact of elevated U.S. tariffs on the U.S.--Mexico cross-border logistics market, the Company is updating its 2025 outlook to reflect current market conditions. For the full year 2025, Fr8Tech now expects revenue of $12 million to $14 million and an operating loss between $5.5 million and $6.5 million.
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) ("Fr8Tech") is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company's portfolio of solutions includes the Fr8App platform for seamless OTR B2B cross-border shipping across the USMCA region; Fr8Now, a specialized service for less-than-truckload $(LTL)$ shipping; Fr8Fleet, a dedicated capacity service for enterprise clients in Mexico; Waavely, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide; Fleet Rocket a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operator; and, Zayren, an AI based, machine learning pricing-prediction tool and carrier-matching platform designed specifically for cross-border and domestic OTR freight shipments across Mexico and the United States. Together, each product is interconnected within a unified platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, brokerage support, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Fr8Tech's and Fr8App Inc.'s actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Fr8Tech's and Fr8App Inc.'s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to obtain or maintain the listing of Fr8Tech's ordinary shares on Nasdaq; (2) changes in applicable laws or regulations; (3) the possibility that Fr8Tech or Fr8App Inc. may be adversely affected by other economic, business and/or competitive factors; (4) risks relating to the uncertainty of the projected financial information with respect to Fr8App Inc.; (5) risks related to the organic and inorganic growth of Fr8App Inc.'s business and the timing of expected business milestones; and (6) other risks and uncertainties identified, including those under "Risk Factors," to be filed in Fr8Tech other filings with the Securities Exchange Commission.
Fr8Tech cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Fr8Tech and Fr8App Inc. caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Fr8Tech and Fr8App Inc. do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
Schedule I
FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)
Three Months Ended Nine Months Ended
September 30 September 30
------------------------- -------------------------
2025 2024 2025 2024
----------- ----------- ----------- -----------
Revenue $ 2,456,191 $ 1,887,030 $ 9,546,741 $10,012,632
Cost and expenses
Cost of revenue 2,190,187 1,792,066 8,318,176 8,962,137
Compensation and
employee
benefits 1,130,626 1,268,884 3,494,556 4,086,620
General and
administrative 328,968 404,484 1,588,993 2,076,411
Sales and
marketing 27,605 15,745 90,494 50,064
Depreciation and
amortization 113,168 104,634 323,957 324,880
---------- ---------- ---------- ----------
Total cost and
expenses 3,790,554 3,585,813 13,816,176 15,500,112
---------- ---------- ---------- ----------
Operating loss (1,334,363) (1,698,783) (4,269,435) (5,487,480)
Other income and
expenses
Interest expense,
net (212,705) (176,276) (555,814) (580,808)
Change in fair
value of
convertible
note - - - 22,602
Gain from
extinguishment
of debt 1,607,766 1,607,766
Realized gain
(loss) in value
of sold
cryptocurrency (155,615) - (183,613) -
Unrealized gain
(loss) in fair
value of
cryptocurrency (1,564,746) - 810,949 -
---------- ---------- ---------- ----------
Loss before
provision for
income taxes (3,267,429) (267,293) (4,197,913) (4,437,920)
Income tax
expense - - 22,324 40,379
---------- ---------- ---------- ----------
Net Loss $(3,267,429) $ (267,293) $(4,220,237) $(4,478,299)
Basic net
income (loss)
per share
attributable
to ordinary
shareholders $ (1.13) $ (1.20) $ (2.41) $ (37.65)
---------- ---------- ---------- ----------
Basic weighted
average shares
outstanding 2,899,097 223,554 1,752,913 118,943
---------- ---------- ---------- ----------
Diluted net
income (loss)
per share
attributable
to ordinary
shareholders, $ (1.13) $ (1.20) $ (2.41) $ (37.65)
---------- ---------- ---------- ----------
Diluted
weighted
average shares
outstanding 2,899,097 223,554 1,752,913 118,943
---------- ---------- ---------- ----------
Net Loss $(3,267,429) $ (267,293) $(4,220,237) $(4,478,299)
Other comprehensive
gain (loss) net of
tax
Foreign currency
translation gain
(loss) 65,735 415,300 328,349 -
---------- ---------- ---------- ----------
Comprehensive
loss $(3,201,694) $ 148,007 (3,891,888) $(4,478,299)
---------- ---------- ---------- ----------
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
Schedule II
FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, 2025 December 31, 2024
(unaudited) (audited)
-------------------- -------------------
ASSETS:
Current assets:
Cash and cash
equivalents $ 291,940 $ 204,032
Accounts receivable,
net 3,344,090 3,533,330
Unbilled receivables 931,903 520,037
Prepaid expenses and
other current assets 1,025,433 792,147
---------------- ---------------
Total current assets 5,593,366 5,049,546
Capitalized software, net 541,284 574,109
Property and equipment,
net 12,829 13,238
Other long-term assets - 39,988
Security deposits 7,818 7,818
Cryptocurrencies 6,041,179 -
Other intangible assets,
net 4,936 5,546
---------------- ---------------
Total assets $ 12,201,412 $ 5,690,245
---------------- ---------------
LIABILITIES AND
STOCKHOLDERS' EQUITY:
Current liabilities:
Accounts payable $ 1,231,664 $ 1,442,517
Accrued expenses 1,073,630 1,280,563
Short-term borrowings 2,759,055 3,343,710
Notes payable 500,000 -
Income tax payable 297,363 278,215
Insurance financing
payable 55,601 -
---------------- ---------------
Total current
liabilities 5,917,313 6,345,005
Total liabilities 5,917,313 6,345,005
COMMITMENTS AND
CONTINGENCIES
STOCKHOLDERS' EQUITY
(DEFICIT)
Series A preferred
stock, $0.0001 par
value, unlimited
shares authorized;
6,180,828 and
1,815,438 issued and
outstanding at
September 30, 2025
and December 31,
2024, respectively 619 182
Series B preferred
stock, $0.0001 par
value, 21,000,000
shares authorized;
13,802,074 issued and
outstanding at
September 30, 2025
and December 31,
2024 1,380 126
Series seed preferred
stock, $0.0001 par
value, 25,000 shares
authorized; 7,020
issued and
outstanding at
September 30, 205 and
December 31, 2024 - -
Ordinary shares, no
par value, (**)
unlimited shares
authorized; 3,552,322
and 546,269 shares
issued and
outstanding at
September 30, 2025
and December 31,
2024, respectively - -
Additional paid-in
capital 56,339,431 45,510,375
Accumulated deficit (49,137,016) (44,916,779)
Accumulated other
comprehensive loss (920,315) (1,248,664)
---------------- ---------------
Total stockholders'
equity (deficit) 6,284,099 (654,760)
---------------- ---------------
Total liabilities and
stockholders' equity $ 12,201,412 $ 5,690,245
---------------- ---------------
(*) List of authorized shares for Series A preferred
a. Series A1A preferred shares: 10,000,000 authorized
shares
b. Series A2 preferred shares: 3,000,000 authorized shares
c. Series A4 preferred shares: unlimited authorized shares
(**) Ordinary Share par value was changed to no par value
in June 2024.
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
Schedule III
FREIGHT TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
Nine Months Ended Nine Months Ended
September 30, 2025 September 30, 2024
-------------------- ---------------------
Cash flows from
operating activities:
Net loss $ (4,220,237) $ (4,478,299)
Adjustments to
reconcile net loss
to net cash used in
operating
activities:
Depreciation and
amortization 323,957 324,880
Share-based
compensation 667,580 758,290
Loss on the sale
cryptocurrencies 183,613 -
Change in
convertible note
fair value - (22,602)
Change in fair
value of
cryptocurrency (810,949) -
Gain from
extinguishment of
debt - (1,607,766)
Changes in
operating assets
and liabilities:
Accounts
receivable 590,360 2,621,708
Unbilled
receivables (351,643) 379,276
Prepaid expense
and other
assets 176,707 317,997
Accounts payable (327,220) (516,657)
Accrued expenses (377,215) (703,519)
Interest accrued
on note
payable 33,000 -
Income tax
payable 19,148 40,379
VAT receivable (106,361) (63,756)
---------------- -----------------
Net cash used in
operating
activities (4,199,260) (2,950,069)
---------------- -----------------
Cash flows from
investing activities:
Purchase of
cryptocurrencies (2,800,900) -
Sale of
cryptocurrencies 2,587,223 -
Capitalization of
software
development costs (241,396) (233,030)
Purchase of property
and equipment (4,912) (5422)
---------------- -----------------
Net cash used in
investing
activities (459,985) (238,452)
---------------- -----------------
Cash flows from
financing activities:
Proceeds from notes
payable, net of
discounts 2,000,000 873,000
Repayment of
insurance financing
payable (124,810) (167,555)
Repayment of
short-term
borrowings (10,848,348) (13,779,730)
Proceeds from
short-term
borrowings 10,263,694 12,452,766
Proceeds from the
issuance of Series
A4 Shares 3,455,000 -
Proceeds from
issuance of common
stock from ATM
Offering - 3,079,016
Transaction cost
relating to reverse
split - (10,000)
---------------- -----------------
Net cash
provided by
financing
activities 4,745,536 2,447,497
---------------- -----------------
Net increase (decrease)
in cash and cash
equivalents 86,291 (741,024)
Effect of exchange rate
changes on cash and
cash equivalents 1,617 (321,583)
Cash and cash
equivalents at
beginning of the
period 204,032 1,560,105
---------------- -----------------
Cash, cash equivalents
and restricted cash at
end of the period $ 291,940 $ 497,498
---------------- -----------------
Supplemental
disclosure of cash
flow information
Cash paid for interest $ 524,636 $ 518,427
Supplemental
disclosure of non-cash
activity
Financing of insurance
premiums $ 180,411 $ 222,891
---------------- -----------------
Issuance of 2,311,248
Series A4 Preferred
Stock in exchange for
Cryptocurrency
(11,300,000 FET
Token) $ 5,200,000 $ -
---------------- -----------------
Reconciliation of
cash, cash
equivalents, and
restricted cash
reported in the
consolidated balance
sheet
Cash and cash
equivalents $ 291,940 $ 497,498
---------------- -----------------
Total cash, cash
equivalents and
restricted cash shown
in the consolidated
statement of cash
flows $ 291,940 $ 497,498
---------------- -----------------
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
Fr8Tech Contact: Jason Finkelstein IGNITION Investor Relations investors@fr8technologies.com
(END) Dow Jones Newswires
December 11, 2025 09:36 ET (14:36 GMT)
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