Craneware
CRW · AIM · Health Care · mcap £356m · 1100.0p
Craneware sells cloud software and data analytics, under the Trisus platform, that help US hospitals manage pricing, billing, drug-discount compliance and costs. Revenue is mostly recurring subscriptions.
The case for
- Bank debt has fallen from $83m to about $23m while EBITDA margins stayed above 30%. 3 Sep 2024 2 Mar 2026
- Bain Capital's £26.50 proposal, which the board rejected, shows outside interest at prices far above recent levels. 11 Jun 2025
- A $25m buyback and $284m of distributable reserves give room for shareholder returns. 16 Mar 2026 6 Nov 2025
- Chair, CEO and a non-executive bought shares in July–September 2026, and new holders appeared on the register. 3 Jul 2026 6 Jul 2026 22 Sep 2026
The case against
- FY26 revenue was flat, FY27 profit guidance was cut and growth is now pushed to FY28. 21 Sep 2026
- Net revenue retention dropped to 100% from 107%, and ARR barely moved. 21 Sep 2026
- Results depend on the timing of US regulatory programmes such as the 340B rebate pilot. 3 Jul 2026 21 Sep 2026
- A cyber incident exposed file names from its data environment, with further notifications possible. 20 Jul 2026
Both sides use only facts from the company's announcements · not investment advice
Company filings. Not investment advice.