Craneware plc

("Craneware", the "Company" or the "Group")

H1 FY26 Trading Update and Notice of Results

20 January 2026 - Craneware (AIM: CRW.L), a leader in healthcare financial performance solutions, is pleased to provide an update on trading for the six months ended 31 December 2025 ("H1 FY26").  

Trading Update

Craneware is pleased to announce a strong performance for the six months ended 31 December 2025, delivering year-on-year revenue growth of 6% to c.$106m (H1 FY25: $100m) and double-digit growth in Adjusted EBITDA¹ to approximately $33.4m (H1 FY25: $30.3m). This reflects continued execution of the Group's strategic priorities and sustained demand across its core markets. Annual Recurring Revenue ("ARR^2") has, so far, grown by approximately 4% to c.$184.3m (H1 FY25: $177.3m), with continued sales and Net Revenue Retention above 100%.

The Group continues to deliver high levels of operating cash conversion, which has been used to invest in its product portfolio, reduce debt and interest costs, with total bank debt reduced to $23.4m (H1 FY25: $31.6m), whilst retaining healthy total cash reserves of $71.2m (H1 FY25: $72.2m) after adjusting for cash in transit of $30.3m.

Against a backdrop of global economic uncertainty, Craneware has maintained momentum through ongoing investment in innovation, operational efficiency, and disciplined cost management. The Group's ability to navigate macroeconomic challenges underscores the resilience of its business model and strength of customer relationships.

The introduction of the Health Resources and Services Administration ("HRSA") Rebate Model Pilot, which aimed to reshape reimbursement dynamics within the US 340B program, was stayed by a US District court and in turn, HRSA has announced a temporary halt to the pilot programme, giving welcome short-term clarity for healthcare providers. While this halt has impacted the Group's reported revenue and recurring revenue growth for the period, relating to signed sales contracts in this area, the speed at which the Group was able to launch a fully viable Rebate solution to protect its customers, demonstrates the depth of data and technical strength of the Trisus platform, and the team's commitment to customer success.

Outlook

Craneware continues to trade in line with current market expectations for the year ending 30 June 2026. 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 that position the Company for sustainable expansion.

The strength of the Company's balance sheet, high levels of recurring revenue and strong cash generation has provided Craneware with solid foundations as it continues to execute 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 six months ended 31 December 2025 on 2 March 2026.

Keith Neilson, CEO of Craneware plc, commented,

"We are pleased to have delivered another healthy first half performance, which combined with the strength of our recurring revenue model provides confidence in near-term, sustainable double-digit growth, as customers increase their use of our Trisus platform and platform partner offerings. Through our continued innovation, including collaborations with Microsoft and Oracle, we are ideally positioned to support our customers in the evolving landscape of US Healthcare.  

"With continued sales successes, ARR growth and continued strong cash generation, we are well positioned to leverage our strategic position as a powerful source of independent data and insights at the heart of the US healthcare market. We look to the future with confidence."  

¹ Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments and acquisition and integration related costs

² Annual Recurring Revenue ("ARR") includes the annual value of licence and transaction revenues as at 31 December 2025 that are subject to underlying contracts.

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About Craneware

For over 25 years, The Craneware Group (AIM:CRW.L) has been a leader in healthcare financial and operational transformation, delivering cutting-edge technologies that drive measurable impact. Our Trisus® cloud ecosystem unifies data, revenue intelligence, margin intelligence, and advanced analytics, enabling healthcare organizations to optimize performance, improve financial sustainability, and drive strategic growth. As a trusted Microsoft partner, we provide future-ready solutions-including the Best in KLAS Trisus Chargemaster - that simplify the complexities of healthcare finance and operations. What sets us apart is our unique combination of deep healthcare expertise and engineering excellence, positioning us as a strategic partner rather than just a technology provider. The Craneware Group empowers healthcare organizations to achieve sustainable financial success while delivering better outcomes for the communities they serve - today and in the future. Together, we are transforming the business of healthcare.

Learn more at www.thecranewaregroup.com