Craneware Group | FY24 trading statement - better than expected
Craneware has reported strong growth for FY24 guiding to revenue in excess of US$188m, above the top end of current market expectations, and adjusted EBITDA of at least cUS$58m, at the top end of expectations. The group continues to pay down debt ahead of schedule. We will revise our figures on the full-year results, with a likely increase on the cards. We calculate a DCF based fair value of 2,541p, 10% above the current share price which could easily prove conservative on stronger medium term revenue growth including the potential promised by the recently announced alliance with Microsoft. Craneware sits in the sweet spot of the structural transformation underway in the US healthcare market to value-based care which is currently also the hottest area of healthcare SaaS M&A activity.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.
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