FY25 Trading Update

16 July 2025 - Craneware (AIM: CRW.L), a leader in healthcare financial performance solutions, is pleased to provide an update on trading for the year ended 30 June 2025 ("FY25").

The Group has experienced positive trading throughout the fiscal year, delivering continued strong growth, and profitability ahead of consensus market expectations.

Subject to audit, the Board expects a 12% increase in adjusted EBITDA1 to over $65m (FY24: $58.3m) delivered by revenue growth of 9% to $205.7m (FY24: $189.3m). Annual Recurring Revenue ("ARR2") has grown by approximately 7% to c.$184m (FY24: $172.0m). This follows continued sales momentum and the transition of an initial proportion of Trisus Platform Partner revenues associated with the Group's 340B software offerings into recurring revenue streams, as anticipated. Net Revenue Retention has increased to 107% (FY24: 98%).

The Group continues to deliver high levels of operating cash conversion, which have been used to invest in the product portfolio, reduce debt and interest costs, with total bank debt reduced to $27.7m (FY24: $35.4m), whilst retaining healthy total cash reserves of $55.9m (FY24: $34.6m).

Outlook

The Group anticipates that the ongoing drive within US healthcare to improve efficiency and deliver value in healthcare will continue to provide a positive market environment for Craneware's offerings.

The partnership with Microsoft is progressing well, raising the profile of The Craneware Group and its AI-powered Trisus offerings with hospital CIOs across the US, providing the basis for increased market penetration in future periods. AI development in conjunction with Microsoft continues as planned.

Currently, a significant proportion of the Platform Partner revenue stream reported is delivered from the Group's 340B associated "Shelter" offering. This offering is based on current Craneware software and demonstrates how the Group is proving successful at identifying new ways to utilise its extensive data sets for the benefit of its customers. This programme continues to see strong uptake across the 340B customer base and provides a strong backlog as the Group enters FY26.

In addition, the Trisus Platform Partner revenue stream also included initial third-party partner offerings. The Company continues to evaluate a number of additional third-party partner offerings that can be hosted on the Trisus platform, with another that was signed before the year end expected to go live in H1 FY26.

The continued acceleration in EBITDA, ARR and NRR provides the Board with confidence in the delivery of an accelerated revenue growth rate in FY26. The strength of the Company's balance sheet and strong cash generation provide Craneware with solid foundations as it executes on its growth strategy, capitalising on its strategic position at the heart of the US healthcare market.

Notice of Results

Craneware will announce results for the year ended 30 June 2025 on 15 September 2025.

Keith Neilson, CEO of Craneware plc, commented,

"We are pleased to see our growth rates accelerating and profitability exceed expectations, with this year's performance supporting a move to sustainable, double-digit growth. Our extensive data sets and the powerful insights we can provide via our Trisus platform give our customers the means they need to improve their operational and financial performance. We have a unique capability to support our customers in their missions, and are seeing this translate into continued strong expansion sales within our customer base and a significant and growing base of recurring SaaS revenues. With continued strong cash generation, and a strategic position as a source of independent data and insights at the heart of the US healthcare market, we are excited by the opportunity ahead, for us and our customers, and look to the future with confidence."

1 Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments and exceptional costs.

2 Annual Recurring Revenue ("ARR") includes the annual value of licence and transaction revenues as at 30 June 2025 that are subject to underlying contracts.

Learn more at www.thecranewaregroup.com