The WiseTech Global Ltd (ASX: WTC) share price is down 15% after the software share announced it had been searched by ASIC and the Australian Federal Police.
WiseTech offers CargoWise software, which is used globally by the logistics sector.
Investigation about WiseTech share trading
The company announced in an update that officers of ASIC and the Australian Federal Police (AFP) attended to WiseTech’s Sydney office on Monday.
They executed a search warrant requiring the production of documents regarding alleged trading in WiseTech shares by Richard White and three other employees during the period of late 2024 to early 2025.
WiseTech noted that as far as it’s aware, no charges have been laid against any person and there are no allegations against the company itself. It said it intends to “fully cooperate with any investigation”.
The Australian Financial Review pointed out today that a February investigation by the AFR, Sydney Morning Herald and The Age “revealed Richard White had sold more than $200 million worth of WiseTech shares during a blackout period and without informing the market”.
The WiseTech share price has fallen more than 40% in 2025 to date, marking a difficult period for the company and its shareholders, despite revealing ongoing growth of its revenue and earnings.
Growth expected in FY26
The business delivered 14% revenue growth to $778.7 million, EBITDA (EBITDA explained) grew 17% to $381.6 million and underlying net profit increased 30% to $241.8 million in FY25.
In FY26, the business is expecting to grow its revenue by between 79% to 85% to a range of $1.39 billion to $1.44 billion. EBITDA is expected to grow by between 44% to 53% to between $550 million to $585 million.
Time will tell how WiseTech performs compared to the above guidance, which could be key in providing support to the company’s financials.
The investigation can’t be helping the focus of management or employees. So, we’ll see whether this impacts anything with its customers or growth outlook.
For now, there are other ASX growth shares I’d rather look at.
