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Highlights

  • WiseTech Global Limited trading volume jumped 462% as HY26 results, the E2open integration and a sweeping AI-led restructuring hit the market simultaneously.
  • Revenue surged 76% to US$672 million with the CargoWise core delivering double-digit growth, but statutory profit fell due to acquisition costs and higher interest expenses.
  • The plan to cut up to 50% of product, development and customer service roles by FY27 to embed AI-driven automation has created both major efficiency upside and execution risk.

WiseTech Global Limited (ASX:WTC), the Australian logistics software powerhouse behind the CargoWise platform, has recorded a 462% increase in its 90-day average trading volume. The 3.23 million shares changing hands signal intense market interest at a pivotal moment for the company, as it released its first-half FY26 results on 25 February 2026 and outlined an ambitious AI-driven transformation strategy.

The stock has been under significant pressure, falling 55.8% over the past 12 months and 28.5% year-to-date, bringing the share price from highs above A$121 to recent levels around A$43. This dramatic decline has created a compelling combination of value-seeking buyers and momentum-driven sellers, generating the volume explosion captured in the 90-day outlier data.

First-Half FY26 Results: Revenue Surges, Margins Under Pressure

WiseTech’s first-half results revealed a 76% surge in total revenue to US$672 million, boosted by five months of consolidated results from its transformative acquisition of E2open. On an organic basis, revenue grew 7%, while the core CargoWise platform delivered 12% revenue growth to US$372.4 million, with organic growth of 9% driven by customer expansion and global rollouts.

Reported EBITDA climbed 31% to US$252.1 million, though margins compressed to 38% due to the E2open integration. On an organic basis, excluding E2open M&A costs, EBITDA increased 7% with a 51% margin, demonstrating the strength of the underlying CargoWise business. Underlying net profit grew 2% to US$114.5 million, while statutory net profit fell 36% to US$68.1 million due to non-cash charges and higher interest costs.

The AI Transformation: Bold Moves with Significant Implications

The most headline-grabbing announcement from the results was WiseTech’s plan for a phased headcount reduction of up to 50% in product, development, and customer service roles, including E2open, through FY27. This AI-driven restructuring is designed to embed automation deeply into the CargoWise platform, offering customers significant productivity improvements while unlocking efficiency gains across the organisation.

With almost all CargoWise customers now shifted to a transaction-based commercial model, WiseTech is repositioning its platform for a future where AI handles an increasing proportion of logistics workflow automation. The company reaffirmed FY26 revenue guidance of US$1.39 billion to US$1.44 billion, representing 79–85% growth, signalling confidence in the combined entity’s trajectory.

The Bull and Bear Case for WTC

WiseTech sits at a fascinating crossroads. Bulls point to the company’s dominant position in global logistics software — used by the top 25 global freight forwarders with 99% recurring revenue — the AI transformation opportunity, and a share price that has been cut in half from its peaks. With 13 analysts maintaining Buy ratings and an average price target near A$99.50, the consensus suggests significant upside from current levels.

Bears, however, highlight the compressed margins from the E2open integration, the execution risk around a 50% headcount reduction, and a P/E ratio that remains elevated at around 50 times trailing earnings. The stock’s RSI near 30 signals oversold conditions, but technical trends remain fragile until the price can reclaim key moving averages.

What’s Next for WiseTech Investors?

The 462% volume surge in WTC reflects a market at an inflection point. For investors tracking ASX technology stocks and the global logistics software sector, the key metrics to watch include CargoWise organic revenue growth momentum, E2open integration milestones, margin trajectory as AI-driven efficiencies materialise, and free cash flow generation. The upcoming ex-dividend date on 13 March 2026 may also attract short-term interest from income-focused strategies.

FAQs

Why did WiseTech Global (ASX: WTC) trading volume spike?
The surge was driven by the release of first-half FY26 earnings, the transformative E2open consolidation, and the announcement of a large AI-led workforce restructuring that reshapes the company’s cost base and growth outlook.

Is the underlying business still growing?
Yes. The CargoWise platform continues to deliver solid organic revenue growth and high recurring revenue, indicating that the core logistics software franchise remains strong despite acquisition-related margin pressure.

What are the key risks investors are watching?
Execution of the E2open integration, the impact of the planned headcount reduction, margin recovery, and the ability of AI-driven efficiencies to translate into higher long-term profitability.