Craneware plc (LSE:CRW) reported broadly unchanged revenue of $206 million for the 2026 financial year, with adjusted EBITDA increasing 3%, as the healthcare software provider revised its revenue expectations for FY27 following a post-year-end cybersecurity incident and ongoing challenges in the US 340B market.
Annual recurring revenue (ARR) remained stable at $185 million, supported by customer retention and recurring software subscriptions. The company also reported high operating cash conversion during the year.
Craneware maintained its dividend and completed a $25 million share buyback during the period.
The group continued developing its Trisus cloud platform, integrating its datasets and expanding the deployment of Trisus Assist, an artificial intelligence-powered tool designed to support financial analysis and decision-making across multiple product areas.
Craneware also introduced Trisus OneLink – Medication, a product developed to address changes in the US 340B drug pricing programme and pharmacy reimbursement arrangements.
The company expanded its relationship with Microsoft and secured additional contracts through the Azure Marketplace.
Following the financial year-end, Craneware identified a cybersecurity incident. The company said the incident did not disrupt customer services or its core operations.
An independent investigation subsequently confirmed that its systems were secure and fully operational, according to the company. Remediation activities and regulatory reporting remain ongoing.
In response to the incident and current trading conditions, Craneware’s board has revised its FY27 revenue expectations to align with existing ARR levels of approximately $185 million.
The revised outlook also reflects the continuing impact of conditions in the 340B market, which have constrained revenue.
Management has initiated a comprehensive review of the group’s cost base, with the objective of maintaining adjusted EBITDA margins while supporting ongoing product development and commercial activities.
Craneware expects conditions in the 340B market to become more supportive during the second half of FY27, potentially increasing demand for its software and services. However, the company has not included any anticipated improvement in its current forecasts.
The group is targeting a return to revenue growth in FY28 and subsequent financial years, supported by its existing customer relationships, recurring revenue base and recently introduced products.
Craneware provides financial performance and operational software to healthcare organisations in the United States. Its Trisus platform combines healthcare data, revenue management, margin analysis and other financial tools.
The company’s product portfolio includes software and services addressing hospital reimbursement, charge capture, pharmacy operations and the 340B drug pricing programme.
Its immediate priorities include completing the remaining cybersecurity remediation and reporting work, reviewing operating costs and implementing its revised FY27 financial plan.
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