WiseTech Global Limited (ASX:WTC): e2open Integration Shapes FY27 Margin Goals

Aditi Sarkar

12 November 2026 09:19 PM AEDT

WiseTech Global Limited (ASX:WTC): e2open Integration Shapes FY27 Margin Goals

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Highlights

WiseTech FY26 Revenue increased 79% to USD 1,395.9 million.
Underlying EBITDA reached USD 644.5 million, with a 46% margin.
Statutory net profit declined to USD 178.7 million.
The company targets FY27 underlying EBITDA of USD 725–780 million.

WiseTech Global Limited (ASX:WTC) supplies software used by freight forwarders, customs Brokers and other logistics operators. Its CargoWise platform supports processes across international Supply chains, while the acquired e2open Business extends its software coverage. The FY26 results reflected the substantial addition of acquired revenue, changes to customer pricing arrangements and a cost-reduction programme, with further integration remaining a central FY27 task.

Acquisition-Led Revenue and Different Profit Measures

For the year ended 30 June 2026, WiseTech recorded USD 1,395.9 million in revenue, up 79% from USD 778.7 million in FY25. The increase largely reflected e2open, acquired during the preceding financial year. The company separately reported CargoWise revenue of USD 756.9 million, while e2open contributed revenue for the period it was owned.

Reported EBITDA was USD 558.4 million, compared with USD 381.6 million previously. Underlying EBITDA reached USD 644.5 million, with a Margin of 46%, compared with 53% in FY25. That narrower underlying margin reflected the lower-margin contribution of e2open. WiseTech (ASX:WTC) reported statutory net profit of USD 178.7 million, down from USD 200.7 million, while underlying net profit rose to USD 313.5 million.

CargoWise Pricing and Efficiency Programme

WiseTech introduced CargoWise Value Packs as a revised commercial offering. At the time of the FY26 release, more than 95% of CargoWise customers were using the new model. Adoption may support product and revenue integration, although the effects on customer relationships and retention remain important to monitor.

The company stated that annualised run-rate cost savings had reached approximately USD 115 million, comprising USD 64 million from e2open initiatives, USD 34 million from its artificial-intelligence transformation programme and USD 17 million from other efficiency work. These savings are annualised estimates of operating improvements rather than the same as cash already saved during FY26. WiseTech (ASX:WTC) also disclosed substantial workforce restructuring.

Balance Sheet and FY27 Targets

Free Cash Flow for FY26 reached USD 410.7 million, compared with USD 287.0 million in FY25. The group reported net Leverage of 2.7 times at 30 June 2026, reflecting borrowing associated with expansion. Managing Debt alongside technology Investment remains relevant as the acquired business is integrated.

For FY27, WiseTech (ASX:WTC) forecast revenue of USD 1.48 billion to USD 1.54 billion and underlying EBITDA of USD 725 million to USD 780 million. The associated expected underlying EBITDA margin was 49% to 51%. These are management targets, dependent on continued efficiency gains, customer adoption and trading conditions rather than completed results.

Regulatory Position and Operational Dependencies

The Australian Competition and Consumer Commission required the divestment of Expedient following competition concerns associated with e2open. The regulator also executed a search Warrant in August 2026 concerning a possible competition-law issue. A search or investigation alone does not establish misconduct, and any subsequent outcome requires a separate formal finding.

WiseTech (ASX:WTC) has also addressed governance matters involving the securities regulator. The company faces practical execution risks from managing its expanded product portfolio, delivering planned cost reductions and maintaining service quality. Logistics software Demand is affected by customer activity in international trade, making macroeconomic and trade-policy developments relevant without establishing a specific Earnings outcome.

Key Insights

WiseTech (ASX:WTC) delivered materially higher FY26 revenue, largely through the e2open acquisition, while statutory profit declined and underlying margins narrowed. Cost programmes and CargoWise pricing are central to FY27 guidance. Debt, integration responsibilities and unresolved competition matters create additional considerations for execution.

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