WiseTech Global (WTC) H1 2025 earnings summary

Executive summary

• Delivered strong 1H25 results with 17% revenue growth to $381.0m and EBITDA margin expanding by five percentage points to 50%, driven by 15% organic growth and new/existing CargoWise customers.

• Secured two new top 25 global freight forwarder wins (Nippon Express and LOGISTEED), expanding market penetration and continued momentum with new and existing customers.

• Strategic acquisitions (Singeste, BSM Global, ImpexDocs) completed or announced, expanding product capabilities and digital documentation.

• Launched breakthrough products ComplianceWise and CargoWise Next; Container Transport Optimization to launch in Australia in 2H25.

• Maintained strong cash generation and balance sheet, supporting long-term value creation.

Financial highlights

• Total revenue grew 17% year-over-year to $381.0m; organic revenue growth was 15%; CargoWise revenue grew 21% (20% organic) to $331.7m, with 99% recurring revenue.

• EBITDA increased 28% to $192.3m; EBITDA margin rose to 50% (up 5pp); organic EBITDA margin at 52%.

• Underlying NPAT up 34% to $112.1m; statutory NPAT up 38% to $106.4m.

• Free cash flow up 22% to $124.1m; interim dividend of 6.7cps, up 31%.

• Recurring revenue comprised 98% of total; basic EPS increased 37% to 32.0 cents.

Outlook and guidance

• FY25 revenue expected at the bottom end of $792m–$858m guidance range due to delayed product rollouts; EBITDA margin anticipated at the top end (50%–51%) of guidance.

• FY25 EBITDA guidance of $396m–$436m, with an exit margin rate of ~52%.

• Organic growth led by LGFF rollouts and customer expansion; minor reduction in non-CargoWise revenue expected.

• FX headwinds of ~$5m on revenue, offset by cost tailwinds; 2H margin expansion expected.

• Long-term growth underpinned by strategic investments, product innovation, and expanding customer base.