Craneware's first half revenues are expected to increase by 6% to approximately $84.7m, while adjusted earnings before tax are up by 8% to $25.5m.
The software solutions provider targeting the US healthcare market also revealed cash reserves of $38.6m - down from $41.7m at the last half-year stage - and total bank debt of $107.9m - down from $114.6m.
Its trading update for the six months ended 31 December 2022 explained that software revenues "remain robust", with bookings across the product offering, despite the end market suffering the effects of inflationary pressures as it continues to recover from the pandemic.
"Professional services revenues, however, continue to be impacted and have remained at 8% of total revenues, rather than seeing growth back to the more typical level of 15%," the statement noted.
Ongoing cost control across the group has delivered earnings growth in line with expectations, but the board "believes it to be prudent" to presume that professional services contribution will not recover in the current year to historic levels, impacting the overall level of revenue growth.
Craneware chief executive Keith Neilson commented: “Healthcare providers, both globally and in the US, continue to face many challenges, building back post pandemic and coping with inflationary pressures.
“Against this backdrop, we have delivered another robust performance, growing revenues and adjusted EBITDA, while maintaining a strong balance sheet and high levels of recurring revenue.
“Through the increased financial and operational insight our offerings provide our customers, we are well placed to support them through these difficult times and ultimately deliver on our growth ambitions.”
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