WiseTech Global Limited (ASX:WTC) announced its results for the twelve months ended 30 June 2026 on 26 August 2026, with figures in US dollars. Total Revenue rose 79% to $1,395.9 million, reflecting the consolidation of e2open, which completed on 4 August 2025. Reported EBITDA rose 46% to $558.4 million, and Underlying EBITDA rose 56% to $644.5 million, while EBITDA on the basis used for guidance was $585.8 million, up 54%.

Underlying NPAT increased 29% to $313.5 million and Underlying EPS rose 28% to 94.0 US cents. Statutory NPAT, however, fell 11% to $178.7 million from $200.7 million, which the company linked to interest and Amortisation expense from the e2open acquisition.

WiseTech develops software for logistics, global trade and Supply chain industries. It serves more than 20,000 organisations across 193 countries, including 24 of the 25 largest global freight forwarders, and its network now includes more than 500,000 connected enterprises through e2open.

Other cash and profit measures were mixed. Free Cash Flow rose 43% to $410.7 million and Underlying free cash flow rose 67% to $489.6 million, while the Underlying Rule of 40 reached a record 114%, up 62 percentage points, though excluding e2open it was 45%.

Recent Development

In the 26 August 2026 announcement, WiseTech reported CargoWise revenue of $756.9 million, up 11%, including $14.2 million from acquisitions and a $9.3 million currency benefit. e2open contributed $541.2 million over 11 months at a 36% Underlying EBITDA margin, and non-CargoWise revenue outside e2open was $97.9 million. Group EBITDA Margin fell 9 points to 40% and Underlying EBITDA margin fell 7 points to 46% because e2open has lower margins.

WiseTech delivered about $115 million of annualised run-rate cost savings: $64 million at e2open, $34 million from an AI transformation program that reduced roles by about 1,200, and $17 million from an efficiency program. Restructuring costs were $67.1 million and the divestment of Expedient Software produced a $7.2 million loss.

Cash generation improved. Operating Cash Flow rose 29% to $564.0 million, free cash flow rose 43% to $410.7 million and Underlying free cash flow rose 67% to $489.6 million, although the free cash flow conversion rate slipped to 74% from 75% and Recurring Revenue fell to 95% of revenue from 98%. Net Leverage was 2.7 times, below the guided target of about 3.0 times, with $2.2 billion of a $3.0 billion Facility drawn and cash of $343.5 million.

The Board declared a fully franked final Dividend of 8.8 US cents, up 14% from 7.7 cents, equal to 17% of Underlying NPAT, payable on 9 October 2026 to holders registered on 14 September 2026. R&D Investment rose 29% to $340.7 million, or 24% of revenue. The company also acquired FRDM.ai in July 2026 to accelerate its VerifyWise compliance platform.

Chief Executive Zubin Appoo described the year as transformational, citing the e2open acquisition, the launch of CargoWise Value Packs in December 2025, which now cover more than 95% of CargoWise customers, and the use of AI across WiseTech's own operations. New small and medium enterprise signings rose about 55% and overall new signings rose about 30% since the launch. WiseTech also secured four new large global freight forwarder rollouts during the year, with Sankyu, CJ Logistics, Blue Water Shipping and XPD Global.

Sector Context

WiseTech positions itself as an operating system for global trade and logistics, and its release identifies five markets: logistics and transport, connected supply chain orchestration, trade finance and banking, customs and government, and verified identity, trust and data. The e2open Acquisition extends its reach into adjacent supply chain markets, and the company cited recognition for e2open from Gartner, IDC and Nucleus Research.

Government work forms part of the picture. WiseTech built a free New Zealand community edition of BorderWise with the New Zealand Customs Service, and expects the Tariff Management Portal to go live in the first half of calendar 2027. Container Transport Optimization went live in July 2026. The company also pointed to Demand for compliance tools, such as tracking modern slavery and forced labour, that are increasingly mandatory.

Risks and Uncertainties

The release lists uncertainty around global economic conditions, industrial production growth and sovereign and geopolitical developments, and notes that FY27 guidance assumes market conditions do not change materially and that changes in industrial production or global trade could move outcomes in either direction.

Several figures show pressure. Statutory NPAT and margins declined, restructuring and divestment costs were significant, and excluding e2open the Underlying Rule of 40 was 45%, down 7 points. The guidance range depends on customer adoption of CargoWise Value Packs, agentic AI and new products such as VerifyWise, and at the low end assumes growth in line with FY26 and modest adoption of new initiatives. About 5% of Seat and Transaction License commitment customers still need to migrate to the new commercial model.

Headline growth also reflects acquisition timing: e2open contributed only 11 months of revenue, and CargoWise revenue growth of 11% was partly offset by refinements in the new commercial model in the second half.

The company also notes that FY27 guidance covers a wide range, with revenue growth of 6% to 10% and Underlying EBITDA growth of 12% to 21%, so outcomes depend heavily on how quickly customers adopt new offerings.

What to Watch Ahead

For FY27, WiseTech guided to revenue of $1.48 billion to $1.54 billion (6% to 10% growth), Underlying EBITDA of $725 million to $780 million (12% to 21% growth) and an Underlying EBITDA margin of 49% to 51%. The company expects net leverage to fall to about 2.2 times by the end of FY27 and below 2.0 times in FY28.

Other catalysts include migration of remaining customers to CargoWise Value Packs, rollouts by large global freight forwarders, of which 61 have been secured including twelve contracted and in progress, the 9 October 2026 dividend payment, and Board changes, with Tim Ebbeck joining as Audit and Risk Committee Chair from 1 September 2026 after Raelene Murphy became independent Chair on 7 July 2026.

The Bottom Line

WiseTech's FY26 update showed record revenue, higher Underlying earnings, cash flow and dividends alongside lower statutory profit and reduced margins after the e2open acquisition. Guidance delivery and deleveraging are the next milestones.