Fiscal YTD Revenue Growth
Revenue for the nine months ending 12/31/2025 was $710 million, a 7% increase from $664 million for the same period in the prior fiscal year.
Strong Fiscal YTD Earnings Per Share
Fiscal year-to-date earnings per share were $1.53, up 16% from $1.32 in the prior-year nine-month period.
Quarterly Revenue and EPS Expansion
December quarter revenue was $236 million, a 3% increase vs. $228 million a year earlier; quarterly EPS was $0.47, up 2% from $0.46 (adjusted for December 2024 3-for-1 stock split).
Net Revenue Retention and New Business
Net revenue retention was 100% and the company achieved a 44% close rate on new business opportunities, with reported incremental growth from existing partners.
Cash Generation and Liquidity Position
Quarter-ending cash balance was $230 million and fiscal year-to-date free cash flow was $90 million; days sales outstanding improved to 39 days (3 days better YoY).
Share Repurchase Program
Repurchased 185,559 shares for $13.4 million in the quarter; cumulatively repurchased 114.9 million shares for $868 million (representing ~69% of shares outstanding at an average price of $7.55).
Investment in Technology and CapEx for Growth
CapEx increased to $36 million YTD (from $24–27 million prior year) reflecting higher spending on proprietary software development and licenses to support scaling and product roadmap.
Acquisition and CERES Momentum
Closed a technology-centric acquisition in June; integration is ahead of plan and yielding meaningful efficiency gains in health payment integrity (CERES), driving increased market interest from large players.
AI and Automation Adoption
Expanded AI initiatives across claim prioritization, adjuster decision support, case management automation, and accelerated software development—expected to reduce service delivery costs, improve outcomes, and support margin expansion.
Debt-Free Balance Sheet
Company reiterated a strong, debt-free balance sheet positioning CorVel for strategic product expansion, technological advancement, and future acquisitions.