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HOUSTON - Freight Technologies, Inc. (NASDAQ:FRGT), also known as Fr8Tech, has introduced Fleet Rocket, a Transportation Management System (TMS) aimed at streamlining logistics operations for brokers, shippers, and other logistics entities. According to InvestingPro data, the company, currently trading at $1.31, appears undervalued based on Fair Value analysis. The new TMS is designed to address the intricacies of domestic and cross-border logistics, optimizing supply chain management within the USMCA region.
Fleet Rocket’s launch comes at a time when companies are increasingly adopting nearshoring models in North America. The system provides specialized tools to facilitate freight management and trade operations in this context, including features for seamless cross-border logistics, such as compliance and customs documentation, as well as real-time tracking for domestic freight. With revenue of $17.57 million in the last twelve months, the company faces operational challenges, including negative gross profit margins of -24.57%.
The TMS boasts API-driven integrations, allowing for easy connections with third-party platforms and business systems, enhancing operational control and efficiency. Its advanced reporting and analytics module is intended to enable businesses to make data-driven decisions for improved cost management and operational performance.
Fleet Rocket is designed to be accessible to small businesses while offering scalable solutions for larger enterprises. It promises minimal implementation effort, with the platform becoming fully operational within days, and provides comprehensive support and training resources for users.
Javier Selgas, CEO of Freight Technologies, stated that Fleet Rocket was developed in response to customer feedback and the increasing demand for advanced logistics tools. He emphasized the system’s combination of powerful features, seamless integrations, and fast implementation as key to delivering value to clients by reducing costs and risks and enhancing decision-making and operational efficiency.
This announcement is based on a press release statement from Freight Technologies, Inc. The company, headquartered in Houston, Texas, offers a suite of proprietary platform solutions aimed at optimizing and automating the supply chain process, including the Fr8App platform for cross-border shipping across the USMCA region and other specialized logistics services. InvestingPro analysis reveals several key challenges, including significant debt concerns and rapid cash burn. Subscribers can access 15 additional ProTips and comprehensive financial metrics to better understand the company’s position and potential.
In other recent news, Freight Technologies Inc., known as Fr8Tech, is making significant changes to its operations and financial strategies. The company recently announced a 20% workforce reduction as part of its strategic shift towards technology, aiming to improve operational efficiencies. Fr8Tech expects these measures to strengthen its financial results throughout 2025 and aims to reach profitability on an adjusted EBITDA basis by the year’s end.
The company has also completed a $3 million private placement offering of convertible preferred stock, which will support ongoing software development. Furthermore, Fr8Tech has made amendments to its corporate governance structure, reducing the quorum requirement for shareholder meetings to facilitate decision-making processes.
However, the company faces a potential delisting from the NASDAQ Capital Market due to its failure to comply with the minimum stockholders’ equity requirement. Fr8Tech has 45 calendar days from the notice date to submit a compliance plan to NASDAQ.
On a positive note, Fr8Tech extended its logistics services contract with Kimberly-Clark (NYSE:KMB) de México for an additional two years, indicating continued expansion and adoption of its innovative solutions. These recent developments reflect Fr8Tech’s commitment to technological advancement and financial growth.
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