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Highlights

  • Craneware's FY24 revenue reached USD 189.27 million, marking an 8.8% increase from FY23.
  • Adjusted EBITDA rose to USD 58.28 million, maintaining a margin above 30%.
  • CRW proposed a final dividend of GBX 16.0 per share, reflecting a 2% increase.

Craneware PLC (LSE:CRW) develops software for U.S. healthcare, focusing on automated solutions like 340B management to enhance care quality.

In FY24, the company earned USD 189.27 million from contracts, up 8.8% from USD 174.02 million in FY23. This growth came due to the success of the Trisus Platform Partner program and higher interest in the Trisus Optimization Suites. Adjusted EBITDA rose to USD 58.28 million, a 6.2% increase from USD 54.89 million last year, resulting in a margin of 31%. Although slightly down from 32%, the company states it is still achieving its goal of maintaining an adjusted EBITDA margin above 30%.

Further, in FY24, the company demonstrated improved profitability and operating efficiency. It had a net margin of 6.2% and asset turnover of 0.34x, compared to FY23 metrics of 5.3%, and 0.30x, respectively.

CRW proposed a final dividend of GBX 16.0 per share for FY24. This brings the total annual dividend to GBX 29.0 per share, compared to GBX 28.5 in FY23. This represents a 2% increase.

Recent Business Update

CRW announced that the company’s three executive directors exercised their share options on September 16, 2024. This was done for ordinary shares of 1p each, following the company's employee share option plans.

Outlook

Craneware's financial results show the success of the Trisus platform and effective partnerships, especially with Microsoft. This alliance is expected to improve innovation and AI applications. The company has a healthy balance sheet, high recurring revenue, and strong customer retention, setting it up for growth. With positive trading at the start of FY25, Craneware is hopeful about ongoing growth and creating long-term value for its stakeholders.

Top 10 Shareholders:

CRW's top 10 shareholders own about 57.83% of total shares. Liontrust Investment Partners LLP has the largest stake at approximately 10.97%. Neilson (Keith) follows with around 8.66%. The chart below illustrates this distribution.

Price Performance

The stock has fallen about 12.16% in the past month and around 20.41% over the last three months. Its 52-week low is GBX 1,472.00, while the high is GBX 2,509.20. Currently, the stock is trading below the average of these highs and lows. As of October 18, 2024, the stock’s closing price is GBX 1950.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 18 October 2024. The reference data in this report has been partly sourced from EODHD/Others.