Craneware (CRW) Trading Update summary

Trading performance and financial highlights

• Achieved double-digit revenue growth of approximately 10%, surpassing $100m for H1 FY25, with adjusted EBITDA of about $30.3m and ARR up 3% to $177m.

• Net revenue retention remained above 100%, supported by continued sales momentum and success with Trisus Platform Partner offerings.

• Secured the first major customer contract via the Microsoft Azure Marketplace, reflecting innovation and strategic partnerships.

• Operating cash conversion remained high, enabling investment in products, debt reduction to $31.6m, and cash reserves growth to $72.2m.

Strategic and operational developments

• Appointed Susan Nelson, an experienced US healthcare executive, as Non-Executive Director effective 16 January 2025.

• Ongoing collaboration with Microsoft and Oracle is driving innovation and joint marketing initiatives.

• The company is positioned as a key provider of independent data and insights in the US healthcare market.

Outlook and market environment

• US hospitals anticipate a period of stability and strategic growth post-election, supporting sustained demand.

• Strong balance sheet, recurring revenue, and cash generation provide resilience against cost pressures and support growth strategy.

• Trading remains in line with market expectations for FY25, with confidence in future performance.