CorVel Announces Revenues and Earnings
Rhea-AI Summary
CorVel (NASDAQ: CRVL) reported fiscal year 2026 revenue of $959 million, up 7% from 2025, with EPS rising 17% to $2.14. Fourth-quarter revenue reached $249 million, up 7%, and EPS increased 20% to $0.61.
Q4 gross profit grew 9% to $63 million at a 25% margin. CorVel ended the quarter with $233 million in cash and no debt, and repurchased $20.1 million of stock. CERIS and P&C services saw strong demand, supported by investments in AI, automation, and telemedicine.
AI-generated analysis. Not financial advice.
Positive
- Fiscal 2026 revenue increased 7% to $959 million
- Fiscal 2026 EPS rose 17% to $2.14
- Q4 revenue up 7% to $249 million
- Q4 EPS increased 20% to $0.61
- Q4 gross profit grew 9% to $63 million with 25% margin
- Ended quarter with $233 million cash and no borrowings
- Repurchased $20.1 million of common stock in the quarter
- Multiple large payer sales at CERIS increase revenue visibility
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
CRVL slipped -0.49% while key peers were mixed: several large brokers like AON showed gains in momentum scans, but sector_context peers such as GSHD, BWIN, and WTW showed declines. Overall pattern points to stock-specific trading rather than a clear sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 12 | Earnings webcast | Neutral | +1.2% | Announcement of webcast to discuss upcoming earnings and outlook. |
| Apr 29 | AI product launch | Positive | +0.3% | Launch of CorVel Connected™, an AI-powered claims intelligence layer. |
| Feb 17 | Workplace award | Positive | +0.6% | Sixth consecutive Great Place To Work® Certification for innovation focus. |
| Feb 3 | Earnings report | Positive | -26.1% | Quarterly and nine‑month revenue and EPS growth with strong cash and buybacks. |
| Jan 20 | Earnings webcast | Neutral | +1.0% | Scheduled webcast to review quarterly results and strategic initiatives. |
Most recent news (webcasts, AI launch, certification) saw modest positive price reactions, but the prior earnings release coincided with a sharp selloff, indicating occasionally adverse reactions to earnings despite growth metrics.
Over the last six months, CRVL has highlighted technology and AI initiatives, employee-focused recognition, and regular earnings communication. AI-powered CorVel Connected™ launched on Apr 29, 2026 and drew a small positive move. Webcast announcements around earnings on Jan 20 and May 12 also saw mild gains. However, the Feb 3, 2026 earnings release, which reported revenue and EPS growth, was followed by a steep -26.05% move, contrasting with the generally constructive responses to other news items.
Market Pulse Summary
This announcement highlights steady growth, with fiscal year revenue of $959 million and EPS of $2.14, alongside quarterly EPS of $0.61 and gross profit of $63.0 million at a 25% margin. The company ended the period with $233 million in cash and no borrowings, and repurchased $20.1 million of stock. Recent history includes prior earnings volatility and continued investment in AI, automation, and telemedicine, so future updates on margins, cash deployment, and technology adoption remain key metrics to watch.
Key Terms
telemedicine medical
cybersecurity technical
AI technical
AI-generated analysis. Not financial advice.
FORT WORTH, Texas, May 20, 2026 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter and fiscal year ended March 31, 2026. Revenues for the fiscal year ended March 31, 2026 were
Fourth Quarter Fiscal Year 2026 Highlights
- Revenue increased
7% to$249 million , compared to fourth quarter of fiscal year 2025. - Gross profit increased
9% to$63.0 million , at25% gross margin, compared to fourth quarter of fiscal year 2025 gross profit of$58.0 million . - Exited the quarter with
$233 million of cash, cash equivalents, and no borrowings. - The Company repurchased
$20.1 million of common stock during the quarter.
CERIS, CorVel’s health division, is benefiting from the healthcare industry’s shift toward proactive payment accuracy and cost management, with strong demand for its integrated prepay and post-pay platform that improves claims accuracy, reduces administrative burden, and enhances revenue visibility. During the quarter, multiple large payer sales with enterprise-scale implementations reflect the strength of the value proposition and provide increased revenue visibility as they are deployed and scaled over time. As adoption of prepay solutions expands, CERIS is accelerating revenue realization cycles while maintaining strong margin profiles, supported by ongoing investment in AI and automation.
Within workers’ compensation and risk management, P&C services are advancing its technology-enabled, clinically integrated model through the CorVel ConnectedTM interface within its proprietary CareMC platform. By combining AI, real-time data integration, and embedded clinical expertise, CorVel is improving decision-making support, operational efficiency, and claim outcomes across the lifecycle of a claim. Ongoing investments in automation, telemedicine, cybersecurity, and API-driven connectivity further strengthen scalability and the Company’s ability to deliver consistent clinical and financial results for its partners in environments where reliability, control, and measurable outcomes are critical.
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, September 30, 2025, and December 31, 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 Fiscal Year Ended March 31, 2026 and March 31, 2025 | ||||||||
| Quarter Ended | March 31, 2026 | March 31, 2025 | ||||||
| Revenues | $ | 248,548,000 | $ | 231,514,000 | ||||
| Cost of revenues | 185,539,000 | 173,547,000 | ||||||
| Gross profit | 63,009,000 | 57,967,000 | ||||||
| General and administrative | 23,293,000 | 24,647,000 | ||||||
| Income from operations | 39,716,000 | 33,320,000 | ||||||
| Income tax provision | 8,687,000 | 6,901,000 | ||||||
| Net income | $ | 31,029,000 | $ | 26,419,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 0.61 | $ | 0.51 | ||||
| Diluted | $ | 0.61 | $ | 0.51 | ||||
| Weighted Shares | ||||||||
| Basic | 51,150,000 | 51,366,000 | ||||||
| Diluted | 51,285,000 | 51,979,000 | ||||||
| Fiscal Year Ended | March 31, 2026 | March 31, 2025 | ||||||
| Revenues | $ | 958,527,000 | $ | 895,589,000 | ||||
| Cost of revenues | 725,664,000 | 685,861,000 | ||||||
| Gross profit | 232,863,000 | 209,728,000 | ||||||
| General and administrative | 89,732,000 | 88,904,000 | ||||||
| Income from operations | 143,131,000 | 120,824,000 | ||||||
| Income tax provision | 32,787,000 | 25,659,000 | ||||||
| Net income | $ | 110,344,000 | $ | 95,165,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 2.15 | $ | 1.85 | ||||
| Diluted | $ | 2.14 | $ | 1.83 | ||||
| Weighted Shares | ||||||||
| Basic | 51,283,000 | 51,379,000 | ||||||
| Diluted | 51,625,000 | 51,994,000 | ||||||
| CorVel Corporation Quarterly Results – Condensed Balance Sheet March 31, 2026 and March 31, 2025 | ||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| Cash | $ | 233,072,000 | $ | 170,584,000 | ||||
| Customer deposits | 115,706,000 | 101,472,000 | ||||||
| Accounts receivable, net | 101,313,000 | 104,126,000 | ||||||
| Prepaid taxes and expenses | 12,206,000 | 10,507,000 | ||||||
| Property, net | 117,906,000 | 92,052,000 | ||||||
| Goodwill and other assets | 41,619,000 | 46,410,000 | ||||||
| Right-of-use asset, net | 21,164,000 | 20,825,000 | ||||||
| Total | $ | 642,986,000 | $ | 545,976,000 | ||||
| Accounts and taxes payable | $ | 24,550,000 | $ | 16,792,000 | ||||
| Accrued liabilities | 203,518,000 | 187,244,000 | ||||||
| Long-term lease liabilities | 20,687,000 | 19,953,000 | ||||||
| Paid-in capital | 268,518,000 | 250,412,000 | ||||||
| Treasury stock | (887,716,000 | ) | (831,510,000 | ) | ||||
| Retained earnings | 1,013,429,000 | 903,085,000 | ||||||
| Total | $ | 642,986,000 | $ | 545,976,000 | ||||
Contact: Melissa Storan
Phone: 949-851-1473
www.corvel.com
