WiseTech's Clippership shutdown gets its first price tag: $995 plus 6% financing
A certified WiseTech partner is selling the way out of a 31 December switch-off WiseTech itself scheduled: US$995 for a configuration summary and 12-month financing at 6% to land shippers on WiseTech's own Transtream. The forced move lands inside a fiscal year whose 6 to 10% revenue guide depends on customers converting rather than leaving.
Vincent Jiang · 3 min read
A partner prices the exit from 1991
Clippership, a parcel-shipping program first released in 1991, is switched off on 31 December 2026, and thousands of shippers across the United States, Canada and Mexico have to be somewhere else by then 1. WiseTech inherited both the product and the deadline when it bought e2open at a US$2.1 billion enterprise value, a deal agreed in May 2025 and completed that August 2.
On 29 September the escape went on sale. ShipDNA, a Certified WiseTech Service Partner, launched Safe Passage: a free migration guide, a US$995 Clippership Configuration Summary, and 12-month financing at 6% interest on the services that move a shipper onto Pierbridge Transtream, which is WiseTech's own platform 13. Buy Transtream through ShipDNA and the finance charge lands on the same statement as the subscription licence fee 3. "Migration means a lot more than just transferring data," ShipDNA chief executive Rick Gomez said 1. The deadline is WiseTech's, the invoice is the shipper's, and the destination is WiseTech's too.
Two forced moves inside one fiscal year
The switch-off lands in FY27, which already carries a second forced conversion. CargoWise Value Packs went live on 1 December 2025, replacing the seat-and-transaction licence model in place since 2014 4. More than 95% of CargoWise customers have moved; about 5% of commitment customers are still to go 5.
The guide is a bet on the people being moved
FY27 guidance is US$1.48 billion to US$1.54 billion of revenue, 6 to 10% growth, and the low end assumes only "modest adoption of new initiatives" 5. It follows a year in which revenue rose 79% to US$1,395.9 million while statutory profit fell 11% to US$178.7 million, short of the US$181.9 million consensus 56. Shares closed 10.1% lower that day, and Citi sees estimates drifting toward the low end on customer-conversion uncertainty 6.
A 79% revenue year, then a 6 to 10% ask
- Total revenue
- Estimate
Data
| Total revenue | |
|---|---|
| FY26 actual | $1,395.9M |
| FY27 guide low (estimate) | $1,480M |
| FY27 guide high (estimate) | $1,540M |
The other side counts in millions
Chief executive Zubin Appoo points to delivery: about US$115 million of annualised run-rate savings, e2open synergies banked 18 months early, and Value Packs that abolished seat fees and hosting costs 754. The tape tells the other story. WTC closed at AUD 31.34 on 1 October, down 54.22% since January and dented again by an ACCC search warrant on 19 August, against 16 analysts averaging 86% upside, from JPMorgan's AUD 40 to Morgan Stanley's AUD 70 891011.
Sixteen analysts average 86% upside, from AUD 40 to AUD 70
- Share price or target
- Estimate
Data
| Share price or target | |
|---|---|
| WTC close, 1 Oct | AUD 31.34 |
| JPMorgan target (estimate) | AUD 40 |
| Morgan Stanley target (estimate) | AUD 70 |
The December tell
Nothing in the releases prices the Clippership estate itself, only the exit from it, and nothing counts who walks. That is the test: 31 December shows whether inherited customers convert at the price set for them or churn to rivals. Next readings are the dividend on 9 October and net leverage guided to about 2.2 times by end FY27 5.
Deepdive
AI-generated from this story and its cited sources. Not investment advice.
