Craneware (CRW) H1 2025 earnings summary

Executive summary

• Achieved record interim results for H1 FY25, with revenue surpassing $100m and double-digit growth in both revenue and adjusted EBITDA, each up 10% year-over-year.

• High customer retention rates above 90% and Net Revenue Retention over 100% underpin future growth.

• Strategic partnerships with Microsoft and Oracle are accelerating innovation and market reach.

• Board strengthened with two senior US healthcare executives and a new Chief Growth Officer.

• Expansion sales and platform innovation, particularly through the Trisus platform, drive growth.

Financial highlights

• Revenue reached $100.0m, up 10% from $91.2m in H1 FY24.

• Adjusted EBITDA rose to $30.3m, a 10% increase year-over-year.

• Adjusted basic EPS grew 18% to 50.6 cents (H1 FY24: 42.8 cents); basic EPS up 78% to 20.7 cents.

• Annual recurring revenue (ARR) at $177.3m, up 3% year-over-year.

• Operating cash conversion at 110% (H1 FY24: 91%), with cash reserves at $72.2m and bank debt reduced to $31.6m.

Outlook and guidance

• Positive trading continues into H2 FY25; full-year results expected in line with market expectations.

• Confident in maintaining 30%+ EBITDA margins and strong cash generation.

• Focus remains on debt reduction, continued investment in R&D, and a progressive dividend policy.

• Ongoing innovation and further integration of AI across products, leveraging Microsoft and Oracle partnerships.

• Board sees significant long-term growth opportunities, supported by strong market positioning and expanding platform.