Freight App, Inc. Reports Preliminary Revenue Increased 103% and 197% for the Three- and Nine-Month Periods Ended September 30, 2021, Respectively

A transportation logistics technology platform company, Fr8App focuses on truckload freight for domestic and cross-border markets in Mexico, the US and Canada

Hudson Capital Inc. announced that Freight App, Inc. (Fr8App), a North American transportation logistics technology platform company focused on US-Mexico cross-border shipping with which Hudson Capital has signed a definitive Merger Agreement, released preliminary revenue for the three- month and nine-month periods ended September 30, 2021.

Javier Selgas, CEO of Fr8App, said, “In the third quarter, we more than doubled our revenues in the same quarter last year, with sales increased by 103% over the same period last year. On a year-to-date basis, we have nearly tripled our sales in comparison to last year. The environment in the third quarter this year was characterized by commercial truck driver shortages and logistics chain constraints with decreasing returns from long haul drivers due to escalating diesel prices. Our carrier customers are finding our platform even more relevant, as managing fleets efficiently is becoming increasingly important to the ongoing success of their overall operations. Our shipper base values the competitive cost and level of service we can secure through our growing carrier base and carriers value our ability to help make their operations more efficient and avoid the high cost of driving ‘dead miles’ or empty trucks.”

Third quarter of 2021 preliminary revenues were approximately $5.6 million, up 103% or over 2X compared to approximately $2.7 million in the prior year period. Preliminary revenues for the nine-month period ended September 30, 2021, were approximately $16.2 million, up 197% or nearly 3X compared to approximately $5.5 million for the prior year period.

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