Highlights

  • WiseTech Global reported FY2026 Revenue of US$1,395.9 million, increasing 79%, largely reflecting the consolidation of e2open.
  • Underlying EBITDA increased 56% to US$644.5 million, while statutory net profit declined 11% to US$178.7 million.
  • CargoWise revenue increased 11% to US$756.9 million, while e2open contributed US$541.2 million.
  • Management expects FY2027 revenue of US$1.48–1.54 billion and underlying EBITDA of US$725–780 million.

WiseTech Global Limited (ASX:WTC) is an Australian technology company developing software for logistics providers, freight forwarders, customs Brokers and global Supply chain participants. Its CargoWise platform supports freight management, customs compliance and international logistics operations. The Acquisition of e2open expanded the company's presence in supply chain technology, contributing to higher FY2026 revenue, increased financing costs and changes in group profitability.

FY2026 Revenue Growth Reflects e2open Consolidation

WiseTech reported revenue of US$1,395.9 million for the financial year ended 30 June 2026, compared with US$778.7 million in FY2025.

Revenue increased 79%, substantially reflecting the acquisition of e2open.

Underlying EBITDA increased 56% to US$644.5 million from US$413.9 million.

However, the underlying EBITDA Margin declined to 46% from 53%, reflecting the inclusion of e2open's lower-margin operations.

Reported EBITDA increased 46% to US$558.4 million, while its margin declined to 40% from 49%.

Underlying net profit after tax increased 29% to US$313.5 million.

Statutory net profit declined 11% to US$178.7 million, compared with US$200.7 million in FY2025.

Higher financing expenses, acquisition-related Amortisation and restructuring costs contributed to the difference between statutory and underlying profitability.

e2open Expands the Supply Chain Software Business

WiseTech completed its acquisition of e2open in August 2025, expanding its software offering beyond traditional freight forwarding and customs operations.

e2open contributed US$541.2 million in revenue during approximately eleven months of FY2026 ownership.

The acquisition expanded WiseTech's capabilities across connected supply chain management, planning and logistics technology.

Management began aligning e2open's operations with WiseTech's product development and operating structure.

The integration included organisational changes, product portfolio alignment and standardisation of development processes.

These measures contributed to US$64 million in annualised run-rate cost savings during FY2026.

The savings exceeded the company's earlier FY2027 target of US$50 million.

However, the financial contribution from continued integration will depend on implementation, customer retention and operating efficiency.

CargoWise Records Higher Revenue

CargoWise revenue increased 11% to US$756.9 million during FY2026.

The increase included US$14.2 million from acquisitions and a US$9.3 million foreign exchange benefit.

Revenue growth also reflected customer adoption, deployment activity and changes to the CargoWise commercial model.

The company introduced CargoWise Value Packs in December 2025.

By 30 June 2026, more than 95% of CargoWise customers had adopted the new commercial model.

Management reported an approximately 55% increase in new small and medium enterprise customer signings following its introduction.

Overall new customer signings increased approximately 30%.

WiseTech expects further customer migrations to support CargoWise revenue during FY2027.

Recurring Revenue Remains a Major Component

Recurring revenue represented approximately 95% of total group revenue in FY2026, compared with 98% in FY2025.

The reduction reflected changes in the group's revenue composition following the e2open acquisition.

WiseTech generates Recurring Revenue through software subscriptions, usage-based licences and maintenance arrangements.

This model links revenue to customer activity, contractual arrangements and continuing software adoption.

However, changes in global trade volumes, customer usage and commercial pricing structures may influence future revenue growth.

Artificial Intelligence and Cost Reduction Initiatives

WiseTech continued implementing its artificial intelligence transformation programme during FY2026.

The programme focused on product development, Customer Service and internal operating processes.

AI-related restructuring delivered approximately US$34 million in annualised run-rate savings.

A separate efficiency programme contributed approximately US$17 million.

Together with e2open integration savings, total annualised run-rate savings reached approximately US$115 million.

WiseTech also continued developing AI-supported CargoWise products intended to automate selected logistics and compliance activities.

Six AI agents were available within CargoWise at the FY2026 reporting date.

Future financial benefits will depend on customer adoption, product effectiveness and implementation expenditure.

Cash Flow and Balance Sheet Position

WiseTech reported operating Cash Flow of US$564.0 million during FY2026, increasing 29% compared with FY2025.

Free cash flow increased 43% to US$410.7 million from US$287.0 million.

Underlying free cash flow reached US$489.6 million, representing growth of 67%.

The group held US$343.5 million in cash at 30 June 2026.

Approximately US$2.2 billion was outstanding under its US$3.0 billion Debt facility.

Net Leverage stood at 2.7 times EBITDA, reflecting acquisition-related financing requirements.

Management expects leverage to decline to approximately 2.2 times by the end of FY2027 and below 2.0 times during FY2028.

These targets remain dependent on Earnings generation, cash flow and debt management.

Governance and Capital Returns

WiseTech continued implementing board and management changes during 2026.

Raelene Murphy became independent chair in July 2026.

Tim Ebbeck joined the board as an independent director and chair of the Audit and Risk Committee in September 2026.

Zubin Appoo continued as chief executive following his permanent appointment in July 2025.

The company declared a fully franked final Dividend of 8.8 US cents per share, compared with 7.7 US cents in FY2025.

The final dividend was paid on 9 October 2026.

FY2027 Revenue and Earnings Guidance

WiseTech expects FY2027 revenue between US$1.48 billion and US$1.54 billion, representing anticipated growth of 6%–10%.

Management forecasts underlying EBITDA of US$725 million to US$780 million, representing growth of 12%–21%.

The underlying EBITDA margin is expected to reach 49%–51%, compared with 46% in FY2026.

The outlook incorporates further e2open integration, CargoWise Value Packs adoption and additional efficiency initiatives.

Management also expects leverage to decline as cash flow contributes to debt reduction.

The guidance assumes no material change in market conditions, including global trade activity and supply chain volumes.

Key Risks and Operational Challenges

Acquisition integration: Combining e2open with existing operations may involve additional expenditure or implementation delays.

Financial leverage: Acquisition-related debt and interest expenses may affect statutory earnings and capital allocation.

Customer retention: Changes in commercial models and integration processes may influence customer behaviour.

Global trade exposure: Changes in International Trade volumes, tariffs and logistics activity could affect software usage.

Technology development: AI initiatives and product expansion require ongoing Investment and customer adoption.

Foreign exchange movements: International operations create exposure to currency translation and reported financial results.

Key Insights

WiseTech Global's FY2026 results reflected substantial revenue growth following the e2open acquisition and increased profitability on an underlying basis.

However, the acquisition changed the group's earnings composition, reduced reported margins and increased financing requirements.

Future performance will depend on further integration savings, CargoWise adoption, operating efficiency, global trade conditions and progress towards management's leverage targets.