Australia’s WiseTech jumps on upbeat HY earnings, AI-driven job cuts

Australian logistics software company WiseTech Global (ASX:WTC) saw its shares surge by as much as 10.7% to A$47.6 on Wednesday, February 24, 2026, after reporting strong first-half earnings, reaffirming full-year guidance, and announcing plans to cut up to 2,000 jobs as part of an AI-driven efficiency overhaul. The company's impressive financial performance was driven by its acquisition of U.S.-based e2open, which contributed to total revenue reaching $672.0 million for the six months ended December 31, 2025. This represents a substantial 76% increase compared to the same period in the previous year. Even without the acquisition impact, WiseTech's core CargoWise division demonstrated solid growth with revenue rising 12% to $372.4 million. The company's profitability also showed improvement, with reported EBITDA climbing 31% to $252.1 million, while underlying net profit edged up 2% to $114.5 million. In a strategic move aimed at enhancing operational efficiency, WiseTech announced it would reduce its product development and customer service headcount by up to 50% over the fiscal years 2026 and 2027, affecting approximately 2,000 roles. The company described this as part of a broader AI-led transformation to streamline operations and focus on higher-value activities. Despite these workforce reductions, WiseTech remains confident in its growth trajectory, reaffirming its fiscal year 2026 revenue guidance of $1.39 billion to $1.44 billion and EBITDA guidance of $550 million to $585 million. The company has already realized $50 million in annualized cost synergies from the e2open acquisition, indicating successful integration of the newly acquired business.