Craneware Plc

Craneware shares fell roughly 24% after the Edinburgh-based healthcare software group warned that revenue for the year ending June 2027 is now expected to be around $185 million, roughly in line with its annual recurring revenue base. The reset follows a broadly flat 2026 financial year, in which revenue came in at $206 million versus $205.7 million previously, adjusted EBITDA rose 3% to $67.1 million, the adjusted EBITDA margin improved to 33%, and statutory pretax profit rose 7% to $25.8 million. Annual recurring revenue barely moved at $185 million, while net revenue retention dropped to 100% from 107%. Management blamed growing regulatory uncertainty and increasingly complex requirements from pharmaceutical manufacturers in the US 340B drug-pricing market, which slowed the conversion of identified savings opportunities into transaction revenue. A July cyberattack, disclosed after the financial year ended, added a second blow: hackers gained unauthorized access to part of Craneware's data environment and extracted data, and although core operations continued without disruption and specialists confirmed systems are secure, the company is still determining what data was affected and notifying customers and regulators. Craneware finished the year with $54.8 million of cash and $156 million of undrawn borrowing facilities, and said it has adopted a more cautious planning basis for the next three years, including a comprehensive cost review, with FY27 now effectively a transition year.

U.K.-based healthcare billing software maker Craneware disclosed that hackers stole a significant volume of customer data from its systems. The company said the attackers appear to have been expelled, but its investigation is ongoing. Craneware's flagship accounting and billing software is used by thousands of clinics, hospitals, and pharmacies across the United States, and the company handles large amounts of medical records and patient data. The breach is the latest in a series of cyberattacks targeting tech companies that supply the U.S. healthcare sector, following incidents at TriZetto, CareCloud, Episource, and Change Healthcare.