Craneware (AIM:CRW), the AIM-listed provider of financial performance software to US hospitals, warned on Thursday that full-year results will fall short of market expectations after pharmaceutical manufacturers tightened restrictions on the supply of 340B-priced medicines, slowing the pace at which eligible drug purchases converted into recognisable revenue.
The company guided revenue for the year ended 30 June to a range of US$205 million to US$208 million, with adjusted EBITDA of US$65 million to US$67 million, both described as broadly in line with FY25 levels rather than the growth previously anticipated.
The board attributed the shortfall to two factors: the timing of eligible 340B activity, and the deferral of a small number of significant enterprise contracts now expected to contribute in FY27, noting the final outcome remains subject to confirmation of eligible 340B activity recognised before year end.
Craneware identified outstanding 340B qualifying drug purchases of around US$500 million, but said the conversion of those opportunities slowed significantly as manufacturers expanded restrictions on 340B-priced medicine supply.
"Naturally we are disappointed not to have delivered the growth that we expected in FY26," said chief executive Keith Neilson, adding that "the long-term opportunity remains intact."
The board characterised the miss as a short-term timing issue, highlighting continued strong customer retention and cash generation, and said full-year results will be published in September 2026.
