project44 achieves cash flow breakeven, 40%+ ARR growth in Q3 2025

project44, the Decision Intelligence Platform for supply chains, announced that it achieved operational cash flow breakeven in Q3 while delivering over 40% year-over-year growth in new annual recurring revenue (ARR). This dual milestone underscores the company’s rapid recovery from post-COVID challenges and its aggressive push into intelligent automation and transportation management.

The Chicago-based company, founded by Jett McCandless, has aggressively pushed into intelligent automation. The company reported explosive growth. Today, 30% of the company’s ARR is tied to its Intelligent TMS platform.

The company reported over 40% year-over-year growth in new ARR in Q3 2025, achieving operational cash flow breakeven. This balanced contributions from new logos and expansions among existing customers. Multi-year contract bookings jumped 25% year-over-year, signaling deepening enterprise commitment to its platform. project44 added Fortune 500 customers in pharmaceuticals, streaming technology, industrial manufacturing, and consumer goods sectors.

“This quarter, project44 accelerates as an organization,” McCandless said in the release. “We achieve operating financial independence, scale faster than ever, and deliver innovations that drive measurable results for customers.”

“This performance this quarter demonstrates how project44 accelerates as an organization,” McCandless stated in the press release. “project44 is achieving operating financial independence, scaling faster than ever, and delivering innovations that drive measurable results for our customers.

Cash flow breakeven wasn’t just a result of explosive revenue growth, but represented the fruit of a long, painful period of right-sizing and refocus. In a phone conversation with FreightWaves, McCandless said that project44 has taken $118 million of operating costs out of the business, radically shrinking headcount from more than 1,200 employees at one point to approximately 575 today. The company also fired more than $30 million worth of unprofitable business, much of it from logistics services providers whose net revenues compressed after the pandemic, and decided that it had to zero in on its ideal customer: what it calls the ‘global 2,000 shippers.’

It’s a remarkable transformation for a venture capital-backed tech startup that raised in excess of $900 million during the era of blitzscaling and ZIRP. Cutting headcount forced project44 to focus on the customers that truly mattered, McCandless said, and allowed the company to ship new software much faster.

The results cap a year of product momentum for project44, which has shifted from pure visibility provider to full-stack decision intelligence suite. FreightWaves covered the launch of its Intelligent TMS in August 2025, marking project44 as the first visibility player to enter the TMS space. Intelligent TMS, built atop its Movement platform, integrates procurement, planning, execution, and visibility across modes, using agentic AI to orchestrate complex workflows.

The Intelligent TMS has quickly become project44’s fastest-growing product, with over 150 customers generating more than $30 million in ARR from Intelligent TMS capabilities alone. Early adopters have seen 4.1% reductions in transportation spend and 17% gains in on-time performance, according to the company’s internal metrics.

In Q3, project44 launched a tariff simulator to help its customers navigate U.S. import duties in the middle of the Trump administration’s trade war, and collaboration workflows that shortened resolution times by more than 40%, but one of the most consequential releases was AI Agent Orchestration—project44’s agents handled more than 1 million voice calls and emails in 2025.

Q3 saw 171 customer-facing enhancements across its four product families: Intelligent TMS, Visibility, Yard Management, and eCommerce Logistics.
project44’s Disruption Navigator tool won FreightWaves’ inaugural AI Excellence in Supply Chain award earlier this year.

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