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CorVel
CorVel (CRVL) investor relations material
CorVel Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Feb, 2026
Executive summary
Revenue for the nine months ended December 31, 2025, was $710 million, up 7% year-over-year; quarterly revenue was $236 million, a 3% increase, driven by growth in network solutions with existing customers.
Net income for the December 2025 quarter was $24.2 million, up from $23.8 million in the prior year; diluted EPS for the quarter was $0.47, up 2%.
For the nine months, net income rose 15% to $79.3 million, and diluted EPS reached $1.53, up 16% year-over-year.
AI and technology investments advanced, improving efficiency, outcomes, and driving operational gains.
Operates as a single segment, encompassing managed care, patient management, and network solutions services.
Financial highlights
Gross profit margin for the quarter was 23.3%, nearly flat year-over-year; gross profit was $54.9 million.
General and administrative expenses as a percentage of revenue decreased to 9.6% year-over-year.
Income before income tax for the quarter increased 4.6% to $32.2 million.
Days Sales Outstanding improved to 39 days, down three days from the prior year.
Quarter-ending cash balance was $230 million, with no borrowings.
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.
General and administrative expenses are expected to remain between 9% and 11% of revenues in future quarters.
The company is well-positioned for scaling in 2026 and beyond, with a strong technology roadmap.
Current cash, cash flow from operations, and stock option proceeds are expected to meet obligations for at least the next 12 months.
How does debt-free balance sheet support growth
AI's role in case management margin expansion
CERIS's role in False Claims Act risk mitigation
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Raising capital for global EV and AI expansion, with regulatory and dilution risks highlighted.
Next CorVel earnings date
Q4 202622 May, 2026
CorVel
Next CorVel earnings date
Q4 202622 May, 2026
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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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