WiseTech Global (WTC) H1 2026 earnings summary

Executive summary

• Reported revenue grew 76% year-over-year to $672 million, driven by the e2open acquisition and organic CargoWise growth, with EBITDA margin at 38% and major AI-driven transformation targeting up to 50% headcount reduction in product, development, and customer service by FY27.

• CargoWise Value Packs rolled out to 95% of customers, shifting pricing to a transaction-based model, and Container Transport Optimization (CTO) is being implemented.

• E2open integration achieved $50 million in annualized cost synergies 18 months ahead of plan, significantly expanding the addressable market.

• Underlying NPAT rose 2% to $114.5 million, while statutory NPAT fell 36% to $68.1 million due to higher finance and integration costs.

Financial highlights

• Total revenue: $672 million, up 76% year-over-year; CargoWise revenue: $372.4 million, up 12% (9% organic); recurring revenue at 95–99%.

• EBITDA: $252.1 million, up 31%; EBITDA margin 38% (organic margin 51%).

• Underlying NPAT: $114.5 million, up 2%; statutory NPAT: $68.1 million, down 36%.

• Free cash flow: $153.6 million, up 24%; operating cash flow: $231.7 million, up 14%.

• Interim dividend: 6.8cps, up 1%, payout ratio 20% of underlying NPAT.

Outlook and guidance

• FY26 guidance reaffirmed: revenue of $1.39–$1.44 billion (up 79–85%), EBITDA of $550–$585 million (up 44–53%), and EBITDA margin of 40–41%.

• CargoWise revenue growth expected at 14–21%; initial CTO revenues and e2open full-year contribution included.

• Margin expansion expected from efficiency programs and cost synergies; restructuring costs to offset near-term savings.

• Guidance excludes impact of announced restructuring and headcount reduction.

• FX tailwind of ~$10 million expected, largely neutral to EBITDA.