Highlights

  • WiseTech reported US$672.0 million in Revenue for the first half of FY26.
  • CargoWise revenue reached US$372.4 million, increasing 12% year on year.
  • The e2open Business contributed US$249.4 million during five months of consolidation.
  • Reported EBITDA rose 31%, while the reported Margin narrowed.
  • Integration, customer deployments and product development remain operating priorities.

WiseTech Global (ASX:WTC) develops logistics software used by freight forwarders and other supply-chain participants to manage shipments, customs and related workflows. Its CargoWise platform sits alongside the e2open supply-chain software business. During the six months ended 31 December 2025, the group reported higher revenue following consolidation of e2open, while its core CargoWise operations also expanded. The distinction between acquired revenue and organic activity is important when interpreting the company’s FY26 performance.

Revenue Growth and the CargoWise Platform

WiseTech Global (ASX:WTC) reported first-half FY26 revenue of US$672.0 million, an increase of 76% from the corresponding period. The company identified organic revenue growth of 7%, highlighting the contribution of acquisitions to the headline change. CargoWise revenue was US$372.4 million, up 12%, including 9% organic growth. These figures distinguish expansion in the existing software business from revenue added through corporate transactions.

The company attributed CargoWise organic growth to increased activity among existing users, new customers, deployments involving large global freight forwarders and commercial changes. Its CargoWise Value Packs model was introduced in December 2025. Because implementation and customer migration occur over time, the timing of software adoption and transaction activity remains relevant to subsequent reporting periods.

E2open Consolidation and Operating Margins

E2open contributed US$249.4 million to WiseTech Global (ASX:WTC) revenue over five months in the first half of FY26. The addition widened the group’s offering across logistics execution and supply-chain management, but also changed its reported cost and margin profile. The integration therefore affects both the composition of revenue and comparisons with earlier periods.

Reported EBITDA reached US$252.1 million, up 31%, while the reported EBITDA margin was 38%, compared with 51% in the prior corresponding half. The company identified consolidation, restructuring and acquisition-related costs among the influences on reported performance. On an organic basis, EBITDA growth was 7%, and the organic EBITDA margin was 51%. The different measures serve distinct purposes: reported figures capture the combined business and recognised costs, while organic measures seek to isolate comparable operating activity.

Customer Adoption and Execution Considerations

For WiseTech Global (ASX:WTC), CargoWise deployments are an important link between contracted customer relationships and recognised software revenue. Large freight-forwarder implementations can involve phased adoption across locations and workflows. Revenue development consequently depends not only on signing customers but also on the Volume of activity that migrates onto the platform.

Product changes also require Investment and customer support. Integration work across the wider software portfolio may create operational complexity, particularly where systems, teams and service models differ. The company’s reported figures establish the scale of its first-half expansion, but they do not by themselves demonstrate the longer-term outcome of integration programmes or future customer usage.

Key Insights

WiseTech Global (ASX:WTC) entered the second half of FY26 with a larger revenue base and a broader software portfolio. Its first-half disclosures show that acquired revenue accounted for much of the reported increase, while CargoWise delivered separate organic growth. The relationship between customer deployment, integration spending and reported margins provides a useful framework for understanding subsequent financial updates without treating management objectives as completed outcomes.