CorVel Corporation reports increased revenues and earnings for the quarter and year ended December 31, 2025, with AI initiatives advancing.
Quiver AI Summary
CorVel Corporation reported its financial results for the quarter and year ending December 31, 2025, showing a 7% increase in revenues to $710 million compared to the same period in 2024. Earnings per share for this nine-month period rose 16% to $1.53. For the quarter, revenues reached $236 million, a slight increase from $228 million last year, with earnings per share rising to $0.47. The company maintained a strong cash position with $230 million and initiated a common stock repurchase program worth $13.4 million. CorVel's ongoing investment in AI and technology enhancements aims to improve efficiency and streamline operations in the Property & Casualty and CERIS sectors. The integration of recent acquisitions and advancements in AI are expected to drive innovation and better align with customer needs for transparency and efficiency in claims processing.
Potential Positives
- Revenues increased by 7% to $710 million for the nine months ended December 31, 2025, showcasing strong financial growth compared to the prior year.
- Earnings per share rose by 16% to $1.53 for the nine months, indicating improved profitability and value for shareholders.
- The company has a healthy cash position with $230 million in cash and cash equivalents, providing liquidity and potential for future investments.
- Advancements in AI initiatives are expected to enhance operational efficiency and productivity, positioning the company for ongoing innovation and competitiveness in the market.
Potential Negatives
- Despite a revenue increase, the gross margin has remained relatively low at 23%, indicating potential issues with cost management or pricing strategies.
- The increase in general and administrative expenses, up from $22.06 million to $22.68 million during the quarter, raises concerns about operational efficiency.
- The mention of forward-looking statements that could result in material differences in future performance may create uncertainty for investors.
FAQ
What were CorVel Corporation's revenue results for Q3 2026?
CorVel reported revenues of $236 million for Q3 2026, a 3% increase from the previous year.
How did earnings per share change for CorVel in Q3 2026?
Earnings per share increased by 2% to $0.47 in Q3 2026 compared to $0.46 in Q3 2025.
What initiatives has CorVel Corporation advanced during Q3 2026?
CorVel advanced AI initiatives that enhanced operational efficiency and productivity across various departments.
How much cash did CorVel have at the end of December 2025?
CorVel exited the quarter with $230 million in cash and cash equivalents.
What were the key factors behind CorVel's revenue growth?
Revenue growth was driven by investments in technologies, operational efficiencies, and a focus on customer priorities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CRVL Insider Trading Activity
$CRVL insiders have traded $CRVL stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $CRVL stock by insiders over the last 6 months:
- HOLDINGS INC CORSTAR has made 0 purchases and 2 sales selling 110,000 shares for an estimated $9,956,120.
- MAXIM SHISHIN (Chief Information Officer) has made 0 purchases and 3 sales selling 30,000 shares for an estimated $2,650,799.
- R JUDD JESSUP has made 0 purchases and 3 sales selling 10,533 shares for an estimated $807,865.
- ALAN HOOPS has made 0 purchases and 2 sales selling 2,000 shares for an estimated $177,160.
- MARK E. BERTELS (EVP - Risk Management Services) has made 0 purchases and 2 sales selling 2,100 shares for an estimated $167,071.
- BRANDON O'BRIEN (Chief Financial Officer) sold 1,764 shares for an estimated $161,470
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CRVL Revenue
$CRVL had revenues of $239.6M in Q2 2025. This is an increase of 6.8% from the same period in the prior year.
You can track CRVL financials on Quiver Quantitative's CRVL stock page.
$CRVL Hedge Fund Activity
We have seen 160 institutional investors add shares of $CRVL stock to their portfolio, and 135 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- THRIVENT FINANCIAL FOR LUTHERANS added 455,796 shares (+18015.7%) to their portfolio in Q3 2025, for an estimated $35,287,726
- NEUBERGER BERMAN GROUP LLC removed 389,682 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $30,169,180
- BLACKROCK, INC. added 271,531 shares (+6.2%) to their portfolio in Q3 2025, for an estimated $21,021,930
- PRICE T ROWE ASSOCIATES INC /MD/ removed 236,954 shares (-43.8%) from their portfolio in Q3 2025, for an estimated $18,344,978
- MILLENNIUM MANAGEMENT LLC removed 141,253 shares (-60.6%) from their portfolio in Q3 2025, for an estimated $10,935,807
- QUBE RESEARCH & TECHNOLOGIES LTD added 118,879 shares (+100.9%) to their portfolio in Q3 2025, for an estimated $9,203,612
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC removed 106,131 shares (-1.9%) from their portfolio in Q3 2025, for an estimated $8,216,662
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
FORT WORTH, Texas, Feb. 03, 2026 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: 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 |
