Craneware AIM:CRW
- Founded
- 1999 · Edinburgh, Scotland
- Incorporated
- United Kingdom
- Chief executive
- Keith Neilson
- Employees
- 765
- Reports in
- USD
- Companies House
- SC196331
Edinburgh-headquartered software company serving US hospitals with pricing, revenue-integrity and cost analytics via its Trisus cloud platform, including the Sentry 340B drug-programme business. Nearly all revenue arises in the US healthcare system under multi-year recurring contracts.
Read straight from the annual reports
1,018c at close on 2 Oct 2026 · 12 reported years, 2014–2025
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USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
12 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Software licensing (subscription, recognised over one-year license periods)
Software licensing revenue $134,758k of $205,657k total revenue FY25
page 154Gross margin resilience from SaaS/Annuity model
Gross margin 87% (FY24: 86%)
page 12Adjusted EBITDA margin expansion
Adjusted EBITDA margin increased to 32% (FY24: 31%), above target 30%
page 16$102k charge: Legal fees re unsolicited approach to acquire the Group and proposed capital reduction
page 156Trading in the first few months of the new year have started well, which alongside the FY25 ARR and NRR growth provide confidence in continued growth acceleration in FY26.
page 3On 29 August 2025 the Group entered into a new unsecured $100m Revolving Credit Facility on improved/lower-rate terms for a further 3 years (with option to extend two further one-year terms), consolidating the previous term loan and RCF, and providing a further $100m accordion facility.
page 187Progressive dividend policy based on Group's capital allocation approach. Proposed final dividend of 18.5p (FY24: 16.0p) giving total FY25 dividend of 32.0p (FY24: 29.0p), up 10% year-on-year; payable 18 December 2025.
page 77Directors adopted the going concern basis after reviewing cash flow forecasts (including a severe-but-plausible zero-growth downside) covering at least 12 months from approval; Group had cash of $55.9m and $80m committed undrawn facility at year end (increased to $72m committed headroom post the August 2025 refinancing). PwC LLP issued an unqualified ('true and fair') audit opinion on the FY25 group and company financial statements, with the sole key audit matter being internally developed intangible assets (capitalised development costs); no material uncertainties over going concern were identified.
page 126- Data and cyber security — threat of cyber-attack against customer/patient data (Protected Health Information)p.21
- Protection of data — compliance obligations under HIPAA/HITECH (US) and GDPR (UK), risk of breach/regulatory sanctionp.22
- Intellectual property risk — failure to protect/enforce IP given third-party contractor and platform accessp.23
- Regulatory environment — complex and evolving 340B, data privacy, labour/employment and anti-kickback regulation across US federal/state levelsp.23
Read from C000332-AR-2025-ch.
11 annual reports read, FY2015 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (11)
FY2026Next report expected 19 Sept 2026