H1 FY25 Results
Keith Neilson, Co-founder and CEO
Craig Preston, CFO
March 2025
We partner with healthcare providers across the US to improve and sustain their operational and financial performance.
Our innovative software solutions elevate healthcare revenue intelligence, decision support, and 340B performance.
Extensive customer base: Over 12,000 US hospitals, clinics, and affiliated retail pharmacies
Unique data, powering our platform: More than 200 million patient encounters combined with latest LLM technology provide unique AI enhanced applications
Growing market need: bipartisan support to increase value in US healthcare - hospitals focusing on fundamentals
Financially strong: c.90% of revenue is recurring, strong cash generation, 30%+ EBITDA margins
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 2 |
Trisus®: Right partner, right outcome, right now
Trisus® Pricing Integrity | Trisus® Data Integrity | Trisus® Business of Pharmacy | |||||||||||
Chargemaster | Regulatory | Consulting, | Hospital & Professional | Regulatory | Consulting CDM, | Formulary Accuracy, | 340B | Medication Revenue | Medication | ||||
Completeness, | Awareness & | Pricing, & CDM | Chargemaster | Awareness & | IM & Formulary | ||||||||
Alignment & | Performance & | Integrity & 340B | Claim Accuracy & | ||||||||||
Transparency, & | Education | Services | Completeness & | Education | Reviews | Completeness | Compliance | Consulting Services | Compliance | ||||
Revenue Assurance | Accuracy | ||||||||||||
Rational & | Pricing | Payor Contract | Item Master | Formulary | Medication | Real | Regulatory | 340B | |||||
Sustainable Pricing | Transparency & | Completeness, | Completeness, | Margin | World | Awareness & | Shelter | ||||||
Payment | Accuracy, & Alignment | Accuracy & Alignment | Management | Benchmarking | Education | ||||||||
Methodology | Market Visibility | ||||||||||||
Accuracy | |||||||||||||
Trisus® Revenue Protection | Trisus® Charge Capture | Trisus® Value-based Margin & Productivity | |||||||||||
Medical Necessity | Audit & | Appeal | Chargemaster | Supplies/ | Medication | Hospital & | Operational | Productivity & | |||||
& Prior | Denials | Management & | Completeness, & | Implants Revenue | Claim Accuracy | Physician Margin | Intelligence, Decision | Margin | |||||
Authorization | Analytics | Consulting Services | Revenue Assurance | Assurance | & Compliance | Management | Support & Labor | Optimization | |||||
Productivity | Consulting Services | ||||||||||||
Post Bill | Charge Capture | Medication | Rational & | Pricing | Payor Contract | ||||||||
Claim | Performance Improvement | Margin | Sustainable Pricing | Transparency & | Payment | ||||||||
Analysis | Consulting Services | Management | Methodology | Market Visibility | Accuracy |
Optimization suites deliver >7xROI, powered by unique data sets - breadth of offering provides competitive strength
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 3 |
RESULTS
Return to double
digit growth:
Revenue & adj. EBITDA up 10%
Record interim results
Reflecting the successful execution of our growth strategy
STRENGTHOPPORTUNITY
Positive sales | Strengthening our |
performance and | partner relationships |
ongoing high | and accelerating our |
customer retention | product strategy |
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 4 |
H1 FY25 - Annual Value of 'new' Sales
New | Existing |
Hospitals, 2% | Hospitals on |
Renewal, 5% |
Existing
Hospitals not on Renewal, 93%
Customer Retention on all metrics >90%
Another positive sales performance
Trisus platform enabling increased expansion sales
Example Land & Expand successes:
Southwest Health System - 4-year contract with 6 figure TCV for Trisus Business of Pharmacy Optimization Suite
To improve their 340B benefits program in support for their community focused projects and our pharmacy analytics solutions to optimize their financial management of their medications.
Midsize Midwest Health System - 5-year contract for a 7 figure TCV, opting to convert their 340B Program from a competitor to TCG
To support the current obstacles faced with Pharmaceutical Manufacturer restrictions and the negative impact on their 340B Benefit threatening their ability to appropriately support their patient population.
Multiple Trisus Pricing Integrity Optimization Suite expansion sales
Outside of the customers' renewal times, Due to increasing pressures to
manage their pricing strategy, ensuring strategic & defensible pricing to support CMS pricing transparency mandates.
A large 100+ Health System in the West, 7 figure TCV
Expanded our Trisus Chargemaster Solution to a recently merged smaller Health System and extended their agreement for 5 additional years - first to be executed on Azure Marketplace.
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 5 |
Craneware + Microsoft case study
First major customer contract executed via the Azure marketplace
Customer
Details
- One of the largest integrated delivery networks in the US
-
Operates over 2,000 care sites across
24 States - Over 35,000 providers across a system of hospitals and clinics
- Network of 45,000 clinicians
Challenges
- Managing nine separate patient accounting systems, 57 unique chargemasters, and non-uniform workflows across 140 hospital sites
- Implementing operational and cost efficiencies across an expansive network without compromising patient care
- Operating one connected care system based on centralised data
Value-focused
Solution
Purchased Trisus Chargemaster for centralised charge management through Azure marketplace, streamlining workflows and automating data updates. This also standardised chargemaster data across facilities, following a recent merger.
- Improved operational efficiency and regulatory compliance
- Enhanced data accuracy and reporting capabilities
- Modernised charge management, achieving measurable outcomes that align with organisational goals
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 6 |
H1 FY25
Financial Review
A record interim performance
$100.0m | 10 | % | $30.3m | 10 | % | 50.6 cents | 18 | % |
(H124: $91.2m) | (H124: $27.5m) | (H124: 42.8 cents) | ||||||
Revenue | Adj. EBITDA | Adj. EPS |
$177.3m | 110% | $31.6m (47%) | |||
(H124: $171.4m) | (H124: 91%) | (H124: $59.2m) | |||
ARR | 12 mth Operating Cash Conversion | Total Bank Debt |
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 8 |
SaaS Model: Contracted Recurring Revenue
SaaS Software Revenue | ||||
RecurringContracted | Revenue | ─ Typical multi-year underlying contracts | ||
─ High visibility of future revenues | ||||
Transaction and other recurring revenue | ||||
─ Other Recurring revenue | ||||
─ Multi-year Professional Services | ||||
─ | Monthly revenue recognition | |||
─ | Underlying contracts | |||
-Recurring | Professional services |
─ Client training and Education | |
─ Bespoke Services to customers | |
Platform Revenues | |
Non | |
─ Leveraging Platform, Data & 3rd Parties |
120000
100000
80000
60000
4000095%
20000
0
89%
─ Potential future ARR |
H124H125
Contracted Recurring Revenue | Non-recurring revenue | |
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 9 |
H1 2025 Review: Results
Revenue and earnings growth
─ Revenue increased to $100m | +10% |
(H124: $91.2m) | |
─ Adj EBITDA increased to $30.3m | +10% |
(H124: $27.5m) | |
─ Adj. basic EPS of 50.6 cents | +18% |
(H124: 42.8 cents) |
Revenue (millions)
$120 | ||||||||||||
$100 | ||||||||||||
$80 | ||||||||||||
$60 | ||||||||||||
84.7 | 91.2 | 100 | ||||||||||
$40 | ||||||||||||
80.2 | ||||||||||||
$20 | 38.0 | |||||||||||
$0 | ||||||||||||
H121 | H122 | H123 | H124 | H125 |
Adj. EBITDA (millions)
$40
$30 | ||||||||||||
$20 | ||||||||||||
25.5 | 27.5 | 30.3 | ||||||||||
$10 | 23.7 | |||||||||||
13.3 | ||||||||||||
$0 | ||||||||||||
H121 | H122 | H123 | H124 | H125 |
Adj. Basic EPS (cents)
60
50 | |||
40 | |||
30 | |||
50.6 | |||
20 | 43.5 | 41.0 | 42.8 |
10 32.5
0
H121 H122 H123 H124 H125
© 2025 Craneware, Inc. All rights reserved. This document is confidential, is protected by trade secret laws, and may not be copied or disseminated in any form, including electronically. | 10 |