Shares of software company WiseTech jump on rising earnings

WiseTech’s flagship asset is CargoWise, a shipping data and freight operations management platform used to manage ports in more than 160 countries by logistics giants FedEx and DHL.

Last year, the company saw an 18% increase in revenue to $507.5 million and expects revenue in the range of $600 million to $635 million in fiscal 2022. White said that at the time the company had been on the front lines responding to the pandemic and focused on large companies that would recover quickly from global lockdowns.

“We were very early in predicting the pandemic, much earlier than most,” he said. “We were very early to see what was happening in China, we saw the trade numbers go down. We heard from our staff who were locked down in Wuhan that there was a serious problem.

WiseTech will release its full results on August 24.

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