WiseTech's shares fell around 10% despite full-year EBITDA rising 46% to USD 558 million. Revenue grew 79% on the large e2open acquisition, but underlying EBITDA margin fell 7 percentage points.
Shares in WiseTech fell more than 10% following media reports that a search warrant was executed on the company on behalf of the Australian Competition and Consumer Commission.
WiseTech announced that founder Richard White will step down as the company's executive chair, effective immediately, but will remain on the board as an executive director and continue in his role as chief innovation officer. Shares jumped more than 10%.
The Australian Federal Police is investigating whether WiseTech's executive chairman Richard White exploited a woman's immigration status, according to media reports. Shares fell more than 15%.
WiseTech's first-half organic EBITDA grew 7%, driven by 7% organic revenue growth and flat margins. When including the acquired e2open, EBITDA rose 32%, driven by 76% revenue growth, offset by lower margins. Shares jumped 11% as WiseTech plans a 2,000 headcount reduction.
WiseTech held its 2025 investor day, where it provided investors with details on its new pricing model and updates on several of its new products. Shares jumped 5% on the day.
The Australian Securities and Investments Commission and the Australian Federal Police executed a search warrant on company premises as part of an investigation into insider trading. Shares plummeted by about 15%.
WiseTech's fiscal 2025 results saw underlying net profit after tax up 30%, driven by 17% organic growth in CargoWise revenue and continued efficiency gains. The company guided for similar organic revenue growth for CargoWise in fiscal 2026.
WiseTech plans to acquire publicly listed e2open for USD 3.30 per share in cash, an enterprise value of USD 2.1 billion. Funding is from a new fully underwritten USD 3 billion debt facility, from a nine-bank syndicate.