WiseTech Global Ltd (ASX: WTC) shares are under pressure on Tuesday.
In morning trade, the logistics solutions technology company's shares were down as much as 6% to $88.11.
However, they have recovered since then and are now down only 2.5% to $91.77.
Image source: Getty Images
What's going on with WiseTech shares today?
There have been a couple of reasons for today's weakness. The first is a poor session on the Nasdaq index on Wall Street overnight, which is weighing on the tech sector.
Another reason is the release of WiseTech Global's investor update this morning ahead of its appearance at the Macquarie Group Ltd (ASX: MQG) conference.
According to the presentation, the company acknowledges that there are potential demand risks from trade tariffs. It explains:
Drewry is projecting global container volumes to decline by 1% in calendar year 2025, marking only the third such downturn in Drewry's history and in contrast to the 5%+ growth in 2024.
Uncertainty in the current geopolitical landscape, macroeconomic conditions and the global trading environment, relating to potential demand risks from announced trade tariffs, may be a headwind for the remainder of FY25.
Product updates
WiseTech also provided investors with a quick update on product launches.
It notes that ComplianceWise was launched in the first quarter of 2025. It is now progressing its rollout with product development continuing.
CargoWise Next was launched with pilot customers during the first half of 2025. A systematic phased rollout is expected to start in the second half of the year. Management expects all new product features will be available in its planned new commercial model.
Finally, the core functionality design and build of its Container Transport Optimization product has been completed. Its development is ongoing as the company builds in additional advanced optimisation capabilities.
What else?
WiseTech also revealed that it has progressed its search for a permanent CEO. It notes that several strong internal and external candidates have been identified for the role.
A shortlist is in the process of being finalised with an appointment anticipated to be announced to the market prior to the annual general meeting in November.
No guidance update
One thing missing from today's presentation was an update on its guidance for FY 2025.
Though, this could be interpreted as no news is good news and the company remains on track to achieve the low end of its EBITDA guidance of $$396 million to $436 million range, which represents annual growth of 22% to 34% year on year.
