Corvel Corp 8-K, filed Feb 3, 2026
Corvel Corp (CRVL)
About this 8-K
Corvel Corp filed this 8-K on February 3, 2026.
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
||
|
|
|
|
|
|
||||
|
||||
(Address of Principal Executive Offices) |
|
(Zip Code) |
||
Registrant’s Telephone Number, Including Area Code: |
|
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|
|
Trading |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On February 3, 2026, CorVel Corporation (the "Company") issued a press release announcing its financial results for the three and nine months ended December 31, 2025. A copy of the press release is furnished herewith as Exhibit 99.1.
The information contained in this Item 2.02 and in the exhibit attached to this report as Exhibit 99.1 is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, or incorporated by reference in any filing of the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number |
|
Description |
99.1 |
|
|
104 |
|
Cover Page Interactive Data file (embedded within the Inline XBRL document). |
|
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
CORVEL CORPORATION, |
|
|
|
|
Date: |
February 3, 2026 |
By: |
/s/ Brian S. Nichols |
|
|
|
Brian S. Nichols |
Exhibit 99.1
Date: February 3, 2026 |
|
|
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, February 3, 2026 — 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
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 |
|