EX-99.1 2 crvl-ex99_1.htm EX-99.1 EX-99.1

 

Exhibit 99.1

 

Date: November 4, 2025

 

CorVel Corporation

 

 

5128 Apache Plume Road

 

 

Suite 400

 

 

Fort Worth, TX 76109

 

 

 

FOR IMMEDIATE RELEASE

 

Contact: Melissa Storan

 

 

Phone: 949-851-1473

 

 

www.corvel.com

 

CorVel Announces Revenues and Earnings

FORT WORTH, Texas, November 4, 2025 — CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended September 30, 2025. Revenues for the quarter were $240 million, an increase from $224 million in the September quarter of 2024. Earnings per share for the quarter were $0.54, compared to $0.45 in the same quarter of the prior year. Revenues for the six months ended September 30, 2025 were $474 million, an increase from $436 million during the six months ended September 30, 2024. Earnings per share for the six months ended September 30, 2025 were $1.06, compared to $0.87 during the six months ended September 30, 2024. The earnings per share numbers for the current and prior year have been adjusted to reflect the three-for-one stock split of its common stock which was paid on December 24, 2024.

Second Quarter Fiscal Year 2026 Highlights

 

Revenue increased 7% to $240 million, compared to second quarter of fiscal year 2025.
Gross profit increased 15% to $58.2 million, at 24% gross margin, compared to second quarter of fiscal year 2025 gross profit of $50.7 million.
Diluted earnings per share increased 20% to $0.54, compared to second quarter of fiscal year 2025 diluted earnings per share of $0.45.
Exited the quarter with $207 million of cash, cash equivalents, and no borrowings.
The Company repurchased $12.8 million of common stock during the quarter.

During the quarter, CorVel effectively navigated an evolving market shaped by workforce challenges, pricing pressures in the commercial health sector, and rapid advancements in artificial intelligence. Within Workers’ Compensation, a generational shift has created a shortage of experienced professionals, which is being addressed by developing new talent and strengthening long-term capability. Through CorVel U, the Company is not only building a skilled pipeline of professionals but also establishing a distinct competitive advantage, positioning CorVel as a leader in workforce development. While broader labor constraints remain, the intentional investment in people is delivering improved retention and sustained service quality for the Company's partners.


At the same time, CorVel is leveraging emerging technologies, including Agentic AI, to enhance efficiency, speed, and scalability across operations. Agentic AI is enabling the automation of complex, multi-step processes, supporting claims professionals and accelerating software development. Within CERIS, AI-driven review and automation tools are improving accuracy, compliance, and partner savings, while within Property & Casualty, new supervisory and communication platforms are enhancing claims management and customer engagement. Across all business lines, CorVel remains committed to responsible AI practices that augment human expertise, drive innovation, and strengthen the Company’s value proposition.

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 quarter ended June 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 Six Months Ended September 30, 2025 (unaudited) and September 30, 2024 (unaudited)

 

Quarter Ended

 

September 30, 2025

 

 

September 30, 2024

 

Revenues

 

$

239,643,000

 

 

$

224,380,000

 

Cost of revenues

 

 

181,466,000

 

 

 

173,632,000

 

Gross profit

 

 

58,177,000

 

 

 

50,748,000

 

General and administrative

 

 

22,277,000

 

 

 

22,078,000

 

Income from operations

 

 

35,900,000

 

 

 

28,670,000

 

Income tax provision

 

 

7,994,000

 

 

 

5,272,000

 

Net income

 

$

27,906,000

 

 

$

23,398,000

 

Earnings Per Share:

 

 

 

 

 

 

Basic

 

$

0.54

 

 

$

0.46

 

Diluted

 

$

0.54

 

 

$

0.45

 

Weighted Shares

 

 

 

 

 

 

Basic

 

 

51,314,000

 

 

 

51,399,000

 

Diluted

 

 

51,723,000

 

 

 

52,023,000

 

 

Six Months Ended

 

September 30, 2025

 

 

September 30, 2024

 

Revenues

 

$

474,354,000

 

 

$

436,102,000

 

Cost of revenues

 

 

359,552,000

 

 

 

337,200,000

 

Gross profit

 

 

114,802,000

 

 

 

98,902,000

 

General and administrative

 

 

43,619,000

 

 

 

42,198,000

 

Income from operations

 

 

71,183,000

 

 

 

56,704,000

 

Income tax provision

 

 

16,042,000

 

 

 

11,729,000

 

Net income

 

$

55,141,000

 

 

$

44,975,000

 

Earnings Per Share:

 

 

 

 

 

 

Basic

 

$

1.07

 

 

$

0.88

 

Diluted

 

$

1.06

 

 

$

0.87

 

Weighted Shares

 

 

 

 

 

 

Basic

 

 

51,333,000

 

 

 

51,381,000

 

Diluted

 

 

51,817,000

 

 

 

51,981,000

 

 

 


 

CorVel Corporation

Quarterly Results – Condensed Balance Sheet

September 30, 2025 (unaudited) and March 31, 2025

 

 

 

September 30, 2025

 

 

March 31, 2025

 

Cash

 

$

207,453,000

 

 

$

170,584,000

 

Customer deposits

 

 

112,302,000

 

 

 

101,472,000

 

Accounts receivable, net

 

 

104,919,000

 

 

 

104,126,000

 

Prepaid taxes and expenses

 

 

9,593,000

 

 

 

10,507,000

 

Property, net

 

 

111,174,000

 

 

 

92,052,000

 

Goodwill and other assets

 

 

47,062,000

 

 

 

46,410,000

 

Right-of-use asset, net

 

 

19,178,000

 

 

 

20,825,000

 

Total

 

$

611,681,000

 

 

$

545,976,000

 

Accounts and taxes payable

 

$

23,110,000

 

 

$

16,792,000

 

Accrued liabilities

 

 

207,219,000

 

 

 

187,244,000

 

Long-term lease liabilities

 

 

18,575,000

 

 

 

19,953,000

 

Paid-in capital

 

 

258,516,000

 

 

 

250,412,000

 

Treasury stock

 

 

(853,965,000

)

 

 

(831,510,000

)

Retained earnings

 

 

958,226,000

 

 

 

903,085,000

 

Total

 

$

611,681,000

 

 

$

545,976,000