Business
FY26 Trading Update
Craneware plc expects its financial year 2026 performance to be below market expectations, with revenue between US$205-$208 million and Adjusted EBITDA of US$65-$67 million, largely in line with FY25, due to the timing of eligible 340B activity and deferred enterprise contracts now anticipated in FY27. This revenue recognition delay stems from pharmaceutical manufacturers' restrictions on 340B-priced medicines, impacting the conversion of identified opportunities into recognised revenue, although customer retention, demand, and cash generation remain strong. The company views these factors as a short-term timing impact and is focusing on expanding its technology-enabled operational transformation capabilities to help healthcare providers realise identified opportunities. Disclaimer*
About this update from Craneware Plc
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain. 03 July 2026 Craneware plc ("Craneware" or the "Company") FY26 Trading Update Craneware (AIM: CRW.L), a leader in healthcare financial performance solutions, provides the following update on trading for the financial year ended 30 June 2026 ("FY26"). 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. This change results from the timing of eligible 340B activity and the deferral of a small number of significant enterprise contracts, which are now expected to contribute during FY27. The final reported outcome remains subject to confirmation of eligible 340B activity recognised before the financial year end. Customer retention, customer demand and cash generation have remained strong throughout the year. Trading in the final weeks of FY26 was materially impacted by a slower than anticipated conversion of identified 340B opportunities into recognised revenue. Craneware continues to identify substantial opportunities for hospitals to optimise their 340B programs; with outstanding 340B qualifying drug purchases in the region of $500m, however, the pace at which those opportunities translated into eligible drug purchases slowed significantly as pharmaceutical manufacturers further expanded and operationalised restrictions on the supply of certain 340B-priced medicines. The Group recognises a significant proportion of this revenue upon the customer receiving the benefit from these eligible 340B drugs, rather than at the point opportunities are identified. The financial impact of this reduced conversion only became apparent once the actual amount of 340B drugs shipped to the hospitals before year end became clear. The Board believes that these factors reflect a short-term timing impact to the FY26 results. Looking ahead, customer demand is increasingly extending beyond software and analytics towards technology-enabled operational...