Shares of Australia-listed WiseTech Global surged on Wednesday after the logistics software company published first-half results that beat expectations, restated full-year guidance and revealed a sizeable cost and workforce program centred on artificial intelligence.
For the six months ended Dec. 31, WiseTech reported total revenue of $672.0 million, a 76% increase from the prior year. The company said the uplift was supported by its acquisition of U.S.-based e2open. CargoWise, WiseTech's core product, generated $372.4 million in revenue, up 12% year-over-year.
Profitability metrics showed improvement as reported EBITDA climbed 31% to $252.1 million. Underlying net profit rose modestly, increasing 2% to $114.5 million.
The stock market reaction was pronounced: Sydney-listed shares advanced as much as 10.7% to reach A$47.6 during trading.
On the cost side, the company set out plans to shrink headcount in product development and customer service by up to 50% across fiscal years 2026 and 2027. Overall, WiseTech said the broader efficiency program is expected to remove about 2,000 roles, driven by AI-led changes to operations and delivery.
WiseTech reiterated its FY26 revenue target of $1.39 billion to $1.44 billion and maintained guidance for EBITDA of $550 million to $585 million. Management pointed to continued momentum and said it had already delivered $50 million in annualised cost synergies from the e2open acquisition earlier than planned.
Promotional note included in the company bulletin - The company update was followed on the same page by a promotional section highlighting the impact of AI-powered investing tools. That section stated AI computing powers are changing the stock market and promoted an AI-driven ProPicks offering, saying it includes dozens of winning stock portfolios. It added that year to date, two out of three global portfolios were beating their benchmark indexes, with 88% of portfolios in the green. The promotional material also noted a flagship Tech Titans strategy that doubled the S&P 500 within an 18-month period and cited winners including Super Micro Computer up 185% and AppLovin up 157%.
WiseTech's results and the announced restructuring are likely to concentrate attention on execution of integration and cost-savings plans as the company moves into the back half of the fiscal year.