Craneware has released a positive update on its 1HFY25 results to the end of December, ahead of their publication which is expected to be on 11 March 2025. Management note another period of positive trading with double-digit growth of c10% in revenue to over US$100m and a similar increase in adjusted EBITDA to US$30.3m. The pace of growth in Annual Recurring Revenue (ARR) has increased to 3% and Net Revenue Retention was above 100%. Sales included the first major customer contract secured via the Microsoft Azure Marketplace, following the alliance Craneware announced last July. The group ended the period with net cash of US$40.6m (US$0.8m of net debt at 30 June 2024). The group is trading in line with market expectations and we maintain our current forecast including growth in EPS of 14%. Our discounted cash flow-based valuation of 3,073p is nearly 50% above the current share price.

13 Jan 2025
Craneware Group | 1HFY25 update – double digit growth

Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Craneware Group | 1HFY25 update – double digit growth
Craneware plc (CRW:LON) | 2,040 1326 3.3% | Mkt Cap: 722.3m
- Published:
13 Jan 2025 -
Author:
Colin Smith -
Pages:
4 -
Craneware has released a positive update on its 1HFY25 results to the end of December, ahead of their publication which is expected to be on 11 March 2025. Management note another period of positive trading with double-digit growth of c10% in revenue to over US$100m and a similar increase in adjusted EBITDA to US$30.3m. The pace of growth in Annual Recurring Revenue (ARR) has increased to 3% and Net Revenue Retention was above 100%. Sales included the first major customer contract secured via the Microsoft Azure Marketplace, following the alliance Craneware announced last July. The group ended the period with net cash of US$40.6m (US$0.8m of net debt at 30 June 2024). The group is trading in line with market expectations and we maintain our current forecast including growth in EPS of 14%. Our discounted cash flow-based valuation of 3,073p is nearly 50% above the current share price.