FORT WORTH, Texas, Feb. 03, 2026 (GLOBE NEWSWIRE) -- CorVel Corporation $(CRVL)$ announced the results for the quarter and year ended December 31, 2025. Revenues for the nine months ended December 31, 2025 were $710 million, a 7% increase from $664 million during the nine months ended December 31, 2024. Earnings per share for the nine months ended December 31, 2025 were $1.53, up 16% compared to $1.32 during the nine months ended December 31, 2024. Revenues for the quarter were $236 million, an increase from $228 million in the December quarter of 2024. Earnings per share for the quarter were $0.47, compared to $0.46 in the same quarter of the prior year.
Third Quarter Fiscal Year 2026 Highlights
-- Revenue increased 3% to $236 million, compared to third quarter of fiscal
year 2025.
-- Gross profit increased 4% to $54.9 million, at 23% gross margin, compared
to third quarter of fiscal year 2025 gross profit of $52.9 million.
-- Diluted earnings per share increased 2% to $0.47, compared to third
quarter of fiscal year 2025 diluted earnings per share of $0.46.
-- Exited the quarter with $230 million of cash, cash equivalents, and no
borrowings.
-- The Company repurchased $13.4 million of common stock during the quarter.
During the quarter, AI initiatives advanced materially across the organization, delivering tangible benefits across products, services, and internal development processes. AI is augmenting operations by improving efficiency, shifting team capacity away from lower-value activities, and enhancing outcomes for partners. In parallel, CorVel is leveraging emerging technologies, including agentic AI, to transform the software development lifecycle from ideation through deployment, increasing velocity and productivity. Our 2026 software development roadmap is robust, and integration of the recent strategic acquisition is progressing ahead of plan, accelerating innovation and expanding our technology capabilities.
Across the Property & Casualty and CERIS businesses, these investments align well with customer priorities that continue to shift toward efficiency, transparency, and measurable outcomes. In P&C, the intentional application of intelligence, automation, and modernized data exchange is delivering a simpler, more accurate claims experience across the care continuum. In CERIS, ongoing technology enhancements address rising medical costs, increased regulatory scrutiny, and vendor consolidation by combining deep clinical expertise with AI-enabled workflows to prevent improper payments earlier in the claims process.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company's current expectations, estimates and projections about the Company, management's beliefs, and certain assumptions made by the Company, and events beyond the Company's control, all of which are subject to change. Such forward-looking statements include, but are not limited to, improved productivity resulting from automation and augmentation across enterprise business systems. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company's actual results to differ materially and adversely from those expressed in any forward-looking statement results of operations and financial condition is greater than our initial assessment. The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company's filings with the Securities and Exchange Commission, including but not limited to "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended March 31, 2025, and the Company's Quarterly Report on Form 10-Q for the quarters ended June 30, 2025 and September 30, 2025. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
CorVel Corporation
Quarterly Results -- Income Statement
Quarters and Nine Months Ended December 31, 2025 (unaudited) and December 31, 2024 (unaudited)
Quarter Ended December 31, 2025 December 31, 2024
------------------- -------------------
Revenues $ 235,625,000 $ 227,973,000
Cost of revenues 180,709,000 175,115,000
--------------- ---------------
Gross profit 54,916,000 52,858,000
General and administrative 22,684,000 22,058,000
--------------- ---------------
Income from operations 32,232,000 30,800,000
Income tax provision 8,058,000 7,029,000
--------------- ---------------
Net income $ 24,174,000 $ 23,771,000
=============== ===============
Earnings Per Share:
Basic $ 0.47 $ 0.46
=============== ===============
Diluted $ 0.47 $ 0.46
=============== ===============
Weighted Shares
Basic 51,317,000 51,388,000
Diluted 51,582,000 52,038,000
Nine Months Ended December 31, 2025 December 31, 2024
------------------- -------------------
Revenues $ 709,979,000 $ 664,075,000
Cost of revenues 540,125,000 512,528,000
--------------- ---------------
Gross profit 169,854,000 151,547,000
General and administrative 66,439,000 64,043,000
--------------- ---------------
Income from operations 103,415,000 87,504,000
Income tax provision 24,100,000 18,758,000
--------------- ---------------
Net income $ 79,315,000 $ 68,746,000
=============== ===============
Earnings Per Share:
Basic $ 1.55 $ 1.34
=============== ===============
Diluted $ 1.53 $ 1.32
=============== ===============
Weighted Shares
Basic 51,328,000 51,384,000
Diluted 51,739,000 51,999,000
CorVel Corporation
Quarterly Results -- Condensed Balance Sheet
December 31, 2025 (unaudited) and March 31, 2025
December 31, 2025 March 31, 2025
------------------- ----------------
Cash $ 230,033,000 $ 170,584,000
Customer deposits 115,427,000 101,472,000
Accounts receivable, net 102,100,000 104,126,000
Prepaid taxes and expenses 16,363,000 10,507,000
Property, net 114,122,000 92,052,000
Goodwill and other assets 47,293,000 46,410,000
Right-of-use asset, net 19,447,000 20,825,000
--------------- ------------
Total $ 644,785,000 $ 545,976,000
=============== ============
Accounts and taxes payable $ 29,998,000 $ 16,792,000
Accrued liabilities 220,449,000 187,244,000
Long-term lease liabilities 18,616,000 19,953,000
Paid-in capital 260,840,000 250,412,000
Treasury stock (867,518,000) (831,510,000)
Retained earnings 982,400,000 903,085,000
--------------- ------------
Total $ 644,785,000 $ 545,976,000
=============== ============
Contact: Melissa Storan
Phone: 949-851-1473
www.corvel.com
------------
(MORE TO FOLLOW) Dow Jones Newswires
February 03, 2026 06:15 ET (11:15 GMT)