CorVel | 8-K: FY2027 Q1 Revenue: USD 259.93 M

Revenue: As of FY2027 Q1, the actual value is USD 259.93 M.

EPS: As of FY2027 Q1, the actual value is USD 0.63.

EBIT: As of FY2027 Q1, the actual value is USD 43.34 M.

Revenues

CorVel Corporation reported revenues of $260 million for the quarter ended June 30, 2026, representing an 11% increase compared to $235 million in the June quarter of 2025. Specifically, revenues were $259,925,000 for the quarter ended June 30, 2026, up from $234,711,000 for the quarter ended June 30, 2025.

Gross Profit and Margin

Gross profit increased 19% to $67.8 million for the quarter ended June 30, 2026, compared to $56.8 million in the first quarter of fiscal year 2026. The gross profit for the quarter ended June 30, 2026, was $67,794,000, achieving a gross margin of 26%.

Net Income and Income from Operations

Net income for the quarter ended June 30, 2026, was $32,225,000, an increase from $27,235,000 in the same quarter of the prior year. Income from operations for the quarter ended June 30, 2026, was $43,341,000, compared to $35,283,000 for the quarter ended June 30, 2025.

Operating Costs

Cost of revenues for the quarter ended June 30, 2026, was $192,131,000, up from $177,950,000 in the prior year’s quarter. General and administrative expenses were $24,453,000 for the quarter ended June 30, 2026, compared to $21,478,000 for the quarter ended June 30, 2025.

Cash and Borrowings

CorVel Corporation exited the quarter ended June 30, 2026, with $256 million in cash and cash equivalents, and no borrowings. The cash balance was $255,883,000 as of June 30, 2026, compared to $233,072,000 as of March 31, 2026.

Stock Repurchase

During the quarter, CorVel Corporation repurchased $21.8 million of common stock. Treasury stock as of June 30, 2026, was - $909,684,000, compared to - $887,716,000 as of March 31, 2026.

Unique Metrics and Operational Highlights

CorVel Corporation marked its 35th anniversary of Nasdaq listing during the quarter. The company expanded its support for workers’ compensation and liability clients by introducing Executive Advisory Services. Additionally, CERIS broadened its payment integrity capabilities through new client implementations and strategic investments.

Outlook

CorVel Corporation’s forward-looking statements indicate a focus on achieving improved payment accuracy and reducing costs. The company also aims to enhance program performance and achieve better outcomes through operational expertise combined with advanced technology. These statements are subject to various risks and uncertainties that could cause actual results to differ materially.