WiseTech Global Ltd (WiseTech) has provided an update to its FY25 guidance, initially announced at its FY24 results on 21 August 2024. This update follows a review of the Company’s breakthrough products and recent developments under the leadership of Interim CEO Andrew Cartledge, who was appointed on 24 October 2024.
Key Updates and Changes:
- Product Progress:
- ComplianceWise: Released in 1Q25 as expected.
- CargoWise Next: On track for release as planned.
- Container Transport Optimization: The launch of this product has been delayed, now expected in the second half of FY25. This delay will result in a shift in anticipated revenue for FY25.
- Reason for Delay:
- The delay is primarily due to distractions caused by recent media attention and subsequent organizational changes.
- Despite the delay in the launch of Container Transport Optimization, WiseTech remains confident in the long-term value that these breakthrough products will create for its customers.
- Mitigation Efforts:
- WiseTech is working on other significant initiatives to counterbalance the delayed revenue and ensure long-term benefits for both the Company and its customers.
Updated FY25 Guidance:
- Revenue:
- Projected to be between A$1,200 million and A$1,300 million, representing growth of 15%–25% compared to FY24.
- EBITDA:
- Expected to be between A$600 million and A$660 million, representing growth of 21%–33% compared to FY24.
- EBITDA Margin:
- The full-year EBITDA margin is forecasted to be between 50% and 51%.
WiseTech’s Commitment to Long-Term Growth:
Despite the near-term revenue delay, WiseTech remains focused on the long-term value and impact of its breakthrough products. The Company is confident in its strategic initiatives and will provide further updates on these products during WiseTech’s Investor Day on 3 December 2024.
About WiseTech Global:
WiseTech Global is a leading provider of software solutions for the logistics execution industry, serving over 17,000 logistics companies across 183 countries. The Company’s CargoWise suite is renowned for its productivity, functionality, integration, compliance capabilities, and global reach. WiseTech continues to innovate, having delivered over 5,600 product enhancements to the CargoWise application suite over the last five years, empowering the global supply chain sector.
With a clear focus on innovation and customer empowerment, WiseTech is committed to creating breakthrough products that drive continuous improvement in the world’s supply chains.
