Flexport has met its revenue targets and may reach profitability this year. Revenue from duty refunds doubled, while overall revenue rose 31% to $2.1 billion.
Trump-era policies prompted businesses to store and distribute goods in the U.S., doubling Flexport’s fulfillment revenue (that division was acquired from Shopify).
Strategic diversification—both geographically and by transportation mode—under the “China+1” approach helped Flexport adapt to changing macroeconomic conditions. Importers are shifting suppliers to Latin America and Southeast Asia, and Flexport has already set up logistics labs there to handle growing demand.
According to industry press, these shifts have “breathed new life into Flexport.”
In light of this positive news, Flexport is planning a tender offer.
The company is also considering an IPO, likely after achieving profitability, which has further drawn investor attention.
While some shareholders currently value Flexport at $3.8B–$4B, its shares are trading at $2B on the secondary market—representing a 75% discount to the last $8B round.