CorVel
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CorVel (CRVL) investor relations material

CorVel Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary3 Feb, 2026

Executive summary

  • Revenue for the nine months ending December 31, 2025, was $710 million, up 7% year-over-year; quarterly revenue was $236 million, a 3% increase from the prior year.

  • Earnings per share for the nine months reached $1.53, up 16% year-over-year; quarterly EPS was $0.47, a 2% increase.

  • Net income for the December 2025 quarter was $24.2 million, up from $23.8 million in the prior year.

  • AI initiatives and technology investments advanced, improving efficiency and outcomes.

  • Operational results were modest due to short-term factors, not a change in fundamentals.

Financial highlights

  • Gross profit for the quarter increased 4% to $54.9 million, with a 23% gross margin.

  • General and administrative expenses as a percentage of revenue decreased from 9.7% to 9.6% year-over-year.

  • Margin improved from 23.2% to 23.3% year-over-year.

  • Quarter-ending cash balance was $230 million, with no borrowings.

  • Fiscal year-to-date free cash flow was $90 million; capital expenditures increased to $36 million, mainly for software development.

Outlook and guidance

  • Management expects continued growth, leveraging technology and AI to drive efficiency and outcomes.

  • Cost efficiencies from AI are expected to offset future pricing pressures.

  • The company is well-positioned for scaling in 2026 and beyond, with a strong technology roadmap.

  • Integration of a recent strategic acquisition is ahead of plan, accelerating innovation.

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Frequently asked questions

CorVel Corporation provides risk management and healthcare management services to employers, insurance companies, and government agencies. Its solutions include claims management, medical bill review, case management, and network services supporting workers’ compensation and disability programs. The company is headquartered in Irvine, California, and its shares are listed on the NASDAQ.

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