Craneware

CRW · AIM · Health Care · mcap £377m · 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.

Target	Promise	Said	Status
2025
FY25–FY26	Return to sustained double-digit revenue growth in the near term	17 Jan 2024	✗ Missed · target changed
	“The Group is on track to deliver double-digit growth in the near term, supported by a robust pipeline, favourable market conditions, and strategic initiatives” Also stated 4 Mar 2024 · 20 Jan 2026 Result H1 FY25 grew 10% but FY25 was 9%, H1 FY26 6% and FY26 flat; growth return now guided for FY28. “While the board remains confident in the long-term outlook for the Group and the growth opportunities, it is taking a prudent view of its revenue expectations in FY27, resetting them to the equivalent of the Company's Annual Recurring Revenue of c.$185m.”21 Sep 2026 · FY26 Final Results “High levels of recurring revenues, longevity of customer relationships and the launch of new products provide a robust foundation for a return to growth in FY28.”21 Sep 2026 · FY26 Final Results
2026
30 Jun 2026	Accelerated revenue growth rate in FY26	16 Jul 2025	✗ Missed
	“The continued acceleration in EBITDA, ARR and NRR provides the Board with confidence in the delivery of an accelerated revenue growth rate in FY26.” Result FY26 revenue was flat at $206m versus 9% growth in FY25; guidance cut in July 2026. “The Board expects the Group's FY26 financial performance to be below market expectations, with revenue of US$205-$208 million and Adjusted EBITDA of US$65-$67 million, both broadly in line with FY25.”3 Jul 2026 · FY26 Trading Update “Revenue stable at $206.0m (FY25: $205.7m)”21 Sep 2026 · FY26 Final Results
30 Jun 2026	Deliver FY26 results in line with market expectations	2 Mar 2026	✗ Missed · target changed
	“The Board remains confident in its outlook and expects to deliver results for the year ending 30 June 2026 in line with market expectations” Result July 2026 update guided revenue and EBITDA below market expectations; September results were below. “The Board expects the Group's FY26 financial performance to be below market expectations, with revenue of US$205-$208 million and Adjusted EBITDA of US$65-$67 million”3 Jul 2026 · FY26 Trading Update “Overall FY26 revenue was below our expectations, principally because customers were unable to realise the opportunities identified by our 340B Shelter offering”21 Sep 2026 · FY26 Final Results