Craneware results to miss forecasts on revenue delays

(Sharecast News) - AIM-listed Craneware has said it expects its full-year results to be below market expectations due to the timing of the 340B drug pricing programme in the US and the deferral of several contracts.

Craneware, which provides financial software and solutions to the US healthcare market, now expects revenues for the 12 months to 30 June to be $205m-208m and adjusted EBITDA of $65m-67m, with both broadly in line with last year.

That followed growth of 6% and 10% in revenues and profits in the first half of the financial year, respectively.

The company, which monetises the 340B drug discount programme by selling SaaS solutions and consulting services to hospitals, health systems, and pharmacies, said it has been impacted by the timing of eligible 340B activity, with trading over the final weeks of FY26 hit by a slower-than-expected conversion of 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 company explained in a statement on Friday.

Meanwhile, a "small number of significant enterprise contracts" are now expected to move into FY27.

Boss Keith Neilson said he was "disappointed" in the outcome but that these issues are short-term.

"While the short-term complexity in the pharmacy market has impacted the year, the long-term opportunity remains intact," he said.

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