Flexport’s 2024 Goals: Triple Revenue While Slashing Costs

Flexport has set ambitious targets for both revenue growth and cost-cutting in 2024, even as it reels from a sagging freight market and its cash pile continues to shrink.

The freight company is targeting $330 million in net revenue in 2024, a dramatic increase from current annualized net revenue of less than $100 million, according to people briefed on the figures. Net revenue represents how much customers pay Flexport to arrange their shipments minus what it pays other companies to move the goods.