- Craneware
- 21 September 2026 13:54:57
Source: Sharecast
The Aim-listed business – which provides financial and operational solutions to the healthcare sector – first announced in July there had been “unauthorised access to a subset of its data environment”. On Monday it confirmed that the immediate impact had since been contained, but that the full financial outcomes were yet to be established, including any impact on future customer engagement.
“The process has now entered the remediation phase, with investigation into the data involved and associated customer and regulatory reporting requirement ongoing,” Craneware added.
As a result, the firm said it was taking a “prudent view” of revenue expectations and had “reset” 2027 full-year guidance. Annual recurring revenue (ARR) is now forecast to come in at $185m, unchanged on 2026 and down from previous expectations for $223.4m.
Keith Neilson, chief executive, said that while the downgrade would provide certainty to stakeholders, “it does not change our confidence in the group’s long-term opportunity. In the 2027 full year, our priorities are to renew long-term customer contracts, expand recurring revenue through sales to new and existing customers, ensure our cost base is suitably sized and maintain strong cash generation.”
However, that did not stop the shares tumbling, and by 1330 BST the stock had slumped 23% at 1,030p.
The update came as the group posted results for the year to 30 June, showing largely unchanged revenues of $206m and a 1% uplift in ARR. Adjusted earnings before interest, tax, depreciation and amortisation rose 3% at $67.1m.
Berenberg, which has a ‘buy’ rating on the stock, said: “While this is clearly a significant downgrade, the fact that $185m is equivalent to current ARR provides some reassurance that it is a realistic base from which Craneware can build in the coming years.
“While the topline reduction will mean that its adjusted EBITDA margin is below the company’s typical 30% to 32% range in 2027 – we forecast 27% – the company is conducting a review of its cost base, with the expectation that the margin will return to the normal range in the medium term.”
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