The WiseTech Global Ltd (ASX: WTC) share price has returned from its trading halt with a thud.

In morning trade, the logistics solutions platform provider's shares are down 23% to $94.00.

Why is the WiseTech share price sinking?

There are a few reasons why the company's shares are under pressure today.

The first is broad weakness in the tech sector driven by a disappointing night of trade on Wall Street's NASDAQ index on Friday.

Concerns about economic growth in the United States weighed on sentiment and led to the NASDAQ losing 2.2% of its value during the session.

This has seen the S&P/ASX All Technology Index drop 3.9% in early trade.

Boardroom fallout

Also weighing on the WiseTech share price has been news of a boardroom fallout which has led to the resignation of a number of directors.

According to the release, four independent non-executive directors currently serving on the WiseTech Board – Lisa Brock, Richard Dammery, Michael Malone and Fiona Pak-Poy – have determined that it is in the best interests of the company to stand aside.

This follows "intractable differences" in the board and differing views around the ongoing role of the company's founder and founding CEO, Richard White.

As many readers will be aware, White has been facing a number of allegations in recent months and decided to step down from the role of CEO to commence a new full-time, long-term consulting role, focused on product and business development.

Judging by the fallout in the boardroom, it seems that not everyone agreed with this transition and some may have been pushing for a permanent exit.

Guidance update

A third reason why the WiseTech share price is falling today is the release of an update on its guidance.

The WiseTech board advised that it now expects revenue to be at the bottom end of its guidance range due to further delays to the rollout of the three announced Breakthrough Products.

One small positive is that its EBITDA margin rate is expected to be towards the top of the previously announced range. This has been driven by stronger results from a company-wide efficiency program.

As a reminder, WiseTech's guidance is as follows:

Subject to the assumptions set out in WiseTech's FY24 results, the Company now anticipates FY25 revenue of A$1,200 million–A$1,300 million representing revenue growth of 15%–25% versus FY24 and EBITDA of A$600 million–A$660 million representing EBITDA growth of 21%–33% versus FY24. The Company's full year EBITDA margin is expected to be 50%-51%.

So, today's update appears to suggest that its FY 2025 revenue will now be in the region of $1,200 million with an EBITDA margin of 51%.