WiseTech Global Ltd's stock experienced a significant decline of 5.03% during intraday trading on Wednesday, as investors reacted to news of a major customer's planned departure from the company's logistics platform.

The sharp drop follows a report indicating that global freight forwarder DSV plans to bring its transport management operations in-house, moving away from WiseTech's CargoWise platform. According to Jefferies analyst Roger Samuel, DSV contributes approximately 9% of WiseTech's revenue and about 10% of its Ebitda, making this potential loss significant for the Australian logistics software provider.

Samuel noted that while DSV's transition away from CargoWise is expected to take approximately six years to complete, the announcement has created near-term pressure on WiseTech's share price as investors assess the long-term revenue implications of losing a major customer.