Craneware PLC warned FY2026 revenue will reach US$205mln to US$208mln, below market expectations, after 340B pharmacy opportunities converted more slowly than expected. Shares fell 18 percent to 1,192 pence. The company expects adjusted EBITDA of US$65mln to US$67mln, flat versus fiscal 2025.
Craneware PLC warned full-year revenue will reach US$205mln to US$208mln, below market expectations, sending shares down 18 percent to 1,192 pence.
"We are disappointed not to have delivered the growth that we expected in FY26," Chief Executive Officer Keith Neilson said. "While the short-term complexity in the pharmacy market has impacted the year, the long-term opportunity remains intact."
The Edinburgh-based healthcare financial performance software group said adjusted earnings before interest, tax, depreciation and amortization for the 12 months through June will be US$65mln to US$67mln, also below analyst forecasts. Both revenue and EBITDA are broadly flat versus fiscal 2025, when the company reported US$205.7mln in revenue and US$65.3mln in adjusted EBITDA.
The shortfall stems from two factors: 340B pharmacy-related opportunities converted into recognized revenue more slowly than expected in the final weeks of the financial year, and a small number of significant enterprise contracts were deferred to fiscal 2027. The pace at which eligible 340B drug purchases translated into revenue slowed materially as pharmaceutical manufacturers expanded restrictions on the supply of certain 340B-priced medicines, the company said.
Craneware said it continues to see substantial opportunities for hospitals to optimize 340B programs, with outstanding qualifying drug purchases of about US$500mln. Customer retention, demand and cash generation remained strong throughout the year, it added.
The final reported outcome remains subject to confirmation of eligible 340B activity recognized before year-end. Craneware plans to publish full-year results in September 2026.
The profit warning signals that near-term headwinds in the pharmacy market are more persistent than management anticipated. Investors will watch the September results for evidence that the deferred enterprise contracts and 340B pipeline are converting as expected in fiscal 2027.
This article is for informational purposes only and does not constitute investment advice.
