Craneware plc – CRW – Final Results

Craneware plc – CRW – Final Results

21 September 2020 – Craneware (AIM: CRW.L), the market leader in Value Cycle software solutions for the US healthcare market, announces its audited results for the year ended 30 June 2020.

 

Financial Highlights (US dollars)

 

1.  Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, exceptional items and share based payments.

2.  Adjusted Earnings per share (EPS) calculations allow for the tax adjusted acquisition costs and share related transactions together with amortisation on acquired intangible assets.

3 Refer to the Financial Review section of the Strategic Report for further details.              

 

Operational Highlights

 

 

4.  Total Sales refers to the total value of contracts signed in the year.

 

 

Outlook

 

 

 

Keith Neilson, CEO of Craneware plc commented,

 

“Craneware made good progress in the year despite the difficulties imposed by the COVID-19 pandemic in the final quarter. While we as a business were relatively insulated from the direct impacts of the pandemic, our customers were on the front-line, selflessly serving their communities. Supporting them and the phenomenal work their teams have done has been, and will continue to be, our top priority.

 

“Our passion and purpose is to impact healthcare profoundly by improving healthcare providers’ operational efficiency and margin, so they can continue investing in providing quality care for their communities. The challenges hospitals are currently facing, combined with the ongoing transition to value-based reimbursement, means this has never been more relevant, or important, and we will do all we can to support our customers through this time.

 

“We have experienced strong sales momentum in Q1 and continue to have sales discussions with hospitals across the US. We are cautiously optimistic we are seeing the first signs of sales cycles slowly normalising; however, we remain cognisant of the ongoing macro uncertainties.

 

“We continue to benefit from a strong balance sheet and high levels of recurring revenue, entering the new financial year with an annuity revenue base of over $65m, providing us with a strong foundation for future growth.” 

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