Welcome to our dedicated page for Corvel news (Ticker: CRVL), a resource for investors and traders seeking the latest updates and insights on Corvel stock.
CorVel Corp (NASDAQ: CRVL) generates a steady flow of news as a national provider of risk management solutions focused on workers’ compensation and related health, auto, and liability services. The company frequently issues press releases on its quarterly and fiscal-period financial results, highlighting revenue trends, gross profit, and earnings per share, as well as commentary on the factors influencing its performance.
News about CorVel often centers on its use of technology, including artificial intelligence, machine learning, natural language processing, and Agentic AI, to enhance claims management and healthcare cost control. Updates describe enhancements to platforms such as CareMC Edge, AI-driven tools within the CERIS division, and generative-AI-based capabilities for document processing and claim milestone identification. These announcements provide insight into how CorVel is applying advanced technology across workers’ compensation, group health, and property and casualty operations.
Investors and industry observers will also find coverage of corporate initiatives and recognitions. Recent news has included CorVel’s inclusion on TIME’s America’s Growth Leaders 2026 Ranking and repeated Great Place To Work Certification, as well as leadership recognition such as a CorVel executive being named to Business Insurance’s “Women to Watch” list. The company also issues releases on events such as its annual meeting, stock incentive plan approvals, and live earnings webcasts.
In addition, CorVel publishes case-oriented stories involving its partners, such as collaborations to transform workers’ compensation programs through nurse triage, data-informed safety cultures, and redesigned claims review processes. For readers tracking CRVL, this news page offers a centralized view of earnings announcements, technology developments, governance updates, workforce and culture recognition, and partner program results related to CorVel’s risk management business.
CorVel (NASDAQ: CRVL) reported strong financial results for Q3 FY2025. Revenue increased 13% to $228 million compared to $202 million in Q3 FY2024. Earnings per share rose 39% to $0.46 from $0.33 year-over-year.
For the nine months ended December 31, 2024, revenues reached $664 million, up from $588 million in the same period of 2023. Gross profit increased 25% to $52.9 million, achieving a 23.2% gross margin. The company maintained a strong financial position with $163 million in cash and no borrowings, while repurchasing $9.6 million of common stock during the quarter.
The company implemented generative-AI functionality to enhance document processing and claim milestone identification, with plans for further improvements to their integrated communication platform. CorVel also noted increasing demand for medical cost savings solutions through their CERIS platform.
CorVel (NASDAQ: CRVL) has announced the effectiveness of a three-for-one forward stock split, effective December 24, 2024. The company has filed an amendment to its Fourth Amended and Restated Certificate of Incorporation with Delaware's Secretary of State to implement the split and increase its authorized shares proportionately.
Every share of common stock outstanding or held in treasury as of December 23, 2024 (record date) will be split into three shares. Additional shares distribution is expected on December 24, 2024, with post-split trading beginning at market open on December 26, 2024.
CorVel (NASDAQ: CRVL) has announced a three-for-one forward stock split of its common stock, approved by its Board of Directors. The company will also increase its authorized shares proportionately to accommodate the split, while maintaining the current number of authorized preferred shares. The implementation requires filing an amendment to the Company's Certificate of Incorporation, expected on December 24, 2024.
Every share of common stock held on the record date of December 23, 2024, will be split into three shares. Trading on a post-split basis is expected to begin on December 26, 2024, subject to Nasdaq approval. CEO Michael G. Combs attributed this decision to the company's extraordinary stock price growth, driven by strong financial performance and successful strategy execution.
CorVel (NASDAQ: CRVL) announces the retirement of founder V. Gordon Clemons from his position as Chairman and member of the Board of Directors, effective November 26, 2024, after 37 years of service. Michael G. Combs, the company's President and CEO, has been appointed as the new Chairman of the Board. Clemons, who founded CorVel in 1988 and served as Chairman since its 1991 IPO, will continue to serve as an outside consultant to Combs, maintaining an advisory role he has held since 2017.
CorVel (NASDAQ: CRVL) reported strong financial results for Q2 FY2025. Revenue increased 15% to $224 million compared to Q2 FY2024. Earnings per share grew 17% to $1.35. The company's six-month revenue reached $436 million, up from $386 million in the previous year. Gross profit rose 15% to $50.7 million with a 22.6% margin. The company maintained a strong financial position with $138 million in cash and no debt, while repurchasing $9.6 million in common stock. The results were driven by Network Solutions programs and Patient Management Segment performance, achieving 110% Net Revenue Retention.
CorVel (NASDAQ: CRVL) has received two prestigious awards from Business Insurance in 2024. The company won the 2024 Innovation Award for its Generative AI solution in CareMC, which enhances claims management by automating objective tasks and increasing adjuster-injured worker interaction time. CorVel was also recognized alongside O'Reilly Automotive Inc. as the 'Claims Team of the Year' in the 2024 U.S. Insurance Awards for their collaborative Claims Closure Project.
Michael Combs, CorVel's President and CEO, emphasized the company's focus on advancing automation and delivering actionable insights to streamline the claims process. The awards, chosen by a panel of professional risk managers, highlight CorVel's commitment to innovation in risk management solutions and effective claims handling. The recognition ceremony took place in New York City on July 18, 2024, with winner profiles featured in Business Insurance's September 2024 issue.
CERIS, a CorVel Company, has announced enhancements to its Fraud, Waste, and Abuse (FWA) solutions. The improvements include earlier detection capabilities and improved behavioral analytics. Key features of the enhanced offering are:
- Fraud Case Analytics with machine learning capabilities
- Fraud Scanners for pre- and post-pay claims
- Flexible Fraud Dashboard & Reporting
- FWA Consulting services
Over the past year, CERIS analyzed 1.1 billion claims, flagging 1.6 million as questionable and uncovering $700 million in suspicious medical billing. The company aims to support various sectors, including workers' compensation, government payments, and group health, in preventing and mitigating fraud across organizations.
CorVel (NASDAQ: CRVL) reported strong financial results for Q1 FY2025 ended June 30, 2024. Revenue increased 11% to $212 million, while gross profit rose 15% to $48.2 million with a 22.7% gross margin. Diluted earnings per share grew 10% to $1.25. The company ended the quarter with $132 million in cash and no borrowings, while repurchasing $9.5 million of common stock.
CorVel introduced an enhanced communications platform integrated into its CareMC claims system, improving efficiency and security. The company is also leveraging artificial intelligence for clinical bill review and anomaly detection, aiming to enhance outcomes, worker experience, and team satisfaction.
Symbeo, a subsidiary of CorVel, has partnered with Amazon Business to launch its RapidInvoice solution on the Amazon Business App Center. This AI-enabled OCR product aims to streamline accounts payable (AP) functions for businesses, promising cost reduction and improved productivity.
The partnership targets the mid-market and small to medium-sized businesses (SMBs) that are increasingly using e-commerce platforms. RapidInvoice offers features such as document separation, tracking, and financial reconciliation, with an easy setup process of just five business days.
This collaboration is expected to enhance purchasing power, manage cash flows effectively, and maximize ROI for businesses. Symbeo's proven track record in AP automation and customer engagement underpins this strategic alliance with Amazon Business, aiming to deliver innovative solutions and drive operational efficiencies in procurement.
CorVel (NASDAQ: CRVL) released its financial results for the quarter and fiscal year ending March 31, 2024. Quarterly revenues reached $207 million, up from $185 million the previous year. Earnings per share (EPS) for the quarter were $1.12, compared to $1.04 a year ago. Annual revenues totaled $795 million, an increase from $719 million the prior fiscal year. EPS for the fiscal year rose to $4.40 from $3.77. Patient Management services saw an 11% rise, driving year-over-year growth.
CorVel ranked third in Workers' Compensation revenue on Business Insurance's 2024 TPA Rankings. The company achieved a net revenue retention of 108%, reflecting high customer satisfaction and demand. Notable developments include the implementation of Generative AI (GAI) to improve operations. CorVel launched a GAI-powered SaaS platform to enhance managed care services, automating tasks and increasing workflow efficiencies.
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