Craneware (LON: CRW) shares plummeted over 22% on Monday morning after the Edinburgh-based healthcare software firm reset its growth expectations for the year ahead, even as its full-year results showed the business essentially standing still.
The company, which supplies cloud-based revenue and pricing management tools to US hospitals via its Trisus platform, said FY26 revenue rose only marginally to $206.0m from $205.7m, falling short of the Board’s original expectations.
Adjusted EBITDA improved 3% to $67.1m, but annual recurring revenue held flat at $185m and net revenue retention slipped to 100% from 107% a year earlier, amid a stalled 340B drug-pricing programme.
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Compounding the picture, Craneware disclosed on 20 July that it had suffered a cyber security incident involving unauthorised access and exfiltration of a significant volume of data, though it said customer services were not disrupted and its systems are now clear of ongoing compromise. That uncertainty, layered on top of the 340B shortfall, pushed the Board to take a more cautious approach.
As a result, management has reset FY27 revenue guidance to roughly the level of existing ARR, around $185m, effectively assuming no growth next year and pushing any recovery out to FY28. The total dividend was held flat at 32p per share.
Chief executive Keith Neilson acknowledged the setback: “Delivering growth consistently over an 18-year period as a public company is rarely straightforward. FY26 was challenging and growth was below our expectations.”
Craneware shares traded at 1,040p this morning, down 22.5% from Friday’s 1320p close.
