Craneware Group | 1HFY26 -Delivering double digit growth
Craneware reported a strong set of results for the half year to December. The trading statement had already flagged double digit growth in adjusted EBITDA and that translated through to earnings with adjusted pre-tax profit up 14.1% to US$23.5m and adjusted EPS up 16.0% to USc58.7 supporting an 11.1% increase in the interim dividend to 15.0p. While we leave our forecasts unchanged, consistent with guidance that Craneware expects FY26 results to be in line with expectations, there looks to be scope for upside. Despite likely being a beneficiary of Artificial Intelligence, rather than a victim, Craneware has been caught in the general sell-off in the software sector driving the stock to unprecedentedly low valuations. Our unchanged DCF valuation of 3,112p indicates upside of over 100% and in our view, the software apocalypse has produced an exceptional opportunity in Craneware for the fearless and the thoughtful.Craneware is engaged in the development, licensing and ongoing support of computer software for the U.S. healthcare industry. Co.'s solutions span four product families: Patient Engagement, Charge Capture & Pricing, Revenue Collection & Retention, and Cost Analytics. The patient engagement segment provides: medical necessity & prior authorization, and patient responsibility. The charge capture & pricing segment provides procedures, pharmacy, and supplies. The revenue recovery & retention segment provides billing & claims analysis, audit management, and denials management. The cost analytics segment provides cost of care.
Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.
Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.
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