Craneware revenue rises 5% to $174m

Edinburgh-based Craneware plc, a provider of software for the US healthcare market, said its revenue increased 5% to $174 million in the year ended June 30, 2023, with adjusted EBITDA up 6% to $54.9 million and statutory profit before tax unchanged at $13.1 million. 

Craneware shares rose about 5%.

Craneware is proposing a final dividend of 16p per share, giving a total dividend for the year of 28.5p per share, a rise of 2%.

Craneware CEO Keith Neilson said: “This robust set of results is testament to the resilience of the group through what was a prolonged period of disruption across the US healthcare landscape.

With the COVID-19 public health emergency in the US formally declared over in May 2023 and the related pressures on hospitals starting to ease, we have begun to see US hospitals return their attention to providing Value-Based Care and investing in digitalisation, using data insights provided by the Trisus platform to transform and improve their processes and control their costs.

“We remain committed to providing the tools our customers need to manage their operations and finances more efficiently, as we seek to transform the business of US healthcare together.

“Against this backdrop, we are pleased to have seen the strong sales momentum seen at the close of the year carry through into the start of the new financial year, resulting in a growing sales pipeline.

“We are confident that our resilient business model, extensive customer base, high levels of Annual Recurring Revenue, together with our strategy for delivering growth centred on the expansion of the Trisus platform, will enable us to create further long-term value for all our stakeholders.”