George Sutton: Perfect. Thank you.
Anat Earon-Heilborn: Okay, so we have a question from Greg Pendy from Chardan on the chat. He is asking, as usage from existing carriers has grown, can you provide color on where you believe the penetration rates are now with some of your largest airlines?
Zvi Schreiber: Thanks, Greg. Yes, we have to make a distinction between penetration from — of overall bookings and penetration of digital bookings because we’re still dealing with an industry which is probably 97%, 98% offline in terms of air cargo. But our best customers, our best airline partners, we’re probably more than — we are in more than 50% of their digital bookings and perhaps order of magnitude, 15% — 10% to 15% of all of their bookings at this time. That’s for our best partners, still many other airlines where we have none, where we have less. But some of our best partners, we’re already a very significant channel for them, and we’re the dominant digital channel for them.
Anat Earon-Heilborn: Okay, great. And let’s open the line for [Michael Stern]. Michael, you need to unmute.
Unidentified Analyst: Hi, yes. While there’s growth in transaction volumes, as far as I can say, Freightos seems to earn the same approximate amount of about $20 per transaction, which doesn’t seem a large amount. Do you see revenue per transaction growing? And if so, how and when? That’s the first question. Second question is, can I have, I guess, a breakdown between profitability from air cargo versus profitability from shipping? And what is the expected growth in each current category? I know these are guesses, but your guess is a lot better than mine.
Zvi Schreiber: Yes. Thanks, Michael. Regarding the first question, we definitely see the take rate, the dollars or the percentage per transaction growing in the long term. There are some factors which means you won’t see that for a while, and that’s mainly a mix. It kind of relates a little bit to your second question. I’m not going to be able to fully answer your second question because we don’t provide a breakdown. But I can say that the airline bookings are relatively newer, and our transactional — without giving you — I can’t disclose the number, but our transactions off the airline bookings is a lot less, and that segment is growing faster. So the revenue per transaction is growing in all our segments, but the mix is such that actually, the segment where we have the lowest revenue per transaction is growing faster.
So that hides the fact. You may see that the dollars per transaction are not increasing, but in fact, in each segment, they are increasing. And the mix is such that you don’t see that in the average, and you won’t for a while. Eventually, you will. The second segment, we do not disclose air versus ocean in detail. I can tell you that a good majority of the transactions are air cargo. I can also tell you that we make still more money, as I mentioned before, on some of the ocean and indeed multi-modal door-to-door transactions on freightos.com. So those are — that’s been around for longer, that’s better monetized. But unfortunately, we’ve chosen not to disclose the exact breakdown because it’s very competitively sensitive, so please understand that.
Unidentified Analyst: Thank you.
Ran Shalev: Thanks, Michael.
Anat Earon-Heilborn: Okay. We have no more questions, so thanks, everyone, for joining. Feel free to reach out to us at any time at ir@freightos.com. Have a good day.
