Core Insights - The article does not provide specific insights or analysis regarding any companies or industries, focusing instead on disclaimers and disclosures [1][2] Summary by Categories - **Company Analysis**: No specific company analysis or performance data is provided in the article [1][2] - **Industry Trends**: The article does not discuss any industry trends or market conditions [1][2] - **Financial Performance**: There are no financial performance metrics or statistics mentioned [1][2]

Core Insights - CorVel Corporation has been recognized as a Great Place To Work for the sixth consecutive year, based on employee feedback regarding their workplace experience [1][4] Company Culture - The certification reflects CorVel's commitment to creating a supportive and empowering workplace, with a focus on technology, automation, and workflow tools to enhance efficiency and service quality [2][4] - Employees describe CorVel's culture as welcoming, inclusive, and collaborative, expressing pride in the company's innovative and human-centered mission [3][4] Leadership Perspective - Michael Combs, President and CEO of CorVel, emphasized the importance of investing in employees and advanced technology to deliver high-quality care and service [4] Recognition Significance - The Great Place To Work Certification is based solely on employee reports, making it a trusted recognition in employer branding, highlighting CorVel's focus on culture and workforce experience [5][6] Company Overview - CorVel applies technology, including AI and machine learning, to manage healthcare costs and services, partnering with various stakeholders in the healthcare ecosystem [7]

Revenue Growth - The Company's revenues increased to $235.6 million in the quarter ended December 31, 2025, from $228.0 million in the quarter ended December 31, 2024, an increase of $7.7 million, or 3%[83] - Network solutions services revenues increased to $89.6 million from $82.1 million, an increase of $7.5 million, or 9%[92] - Revenue for the nine months ended December 31, 2025, increased to $709.98 million, up $45.9 million or 6.9% from $664.08 million in the same period of 2024[100] Cost and Expenses - Cost of revenues increased to $180.7 million in the quarter ended December 31, 2025, from $175.1 million in the quarter ended December 31, 2024, an increase of $5.6 million, or 3%[84] - General and administrative expense increased to $22.7 million in the quarter ended December 31, 2025, from $22.1 million in the quarter ended December 31, 2024, an increase of $0.6 million, or 3%[85] - Cost of revenues rose to $540.13 million, an increase of $27.6 million or 5.4% compared to $512.53 million in the prior year[100] - General and administrative expenses increased to $66.44 million, up $2.4 million or 3.7% from $64.04 million in the previous year[100] Profitability - Income before income tax provision increased to $32.2 million in the quarter ended December 31, 2025, from $30.8 million in the quarter ended December 31, 2024, an increase of $1.4 million, or 5%[86] - Net income for the quarter ended December 31, 2025, was $24.2 million, compared to $23.8 million for the same period in 2024, an increase of $403,000, or 1.7%[91] - Income before income tax provision rose to $103.42 million, an increase of $15.91 million or 18.2% from $87.50 million in the same period of 2024[100] - Net income for the nine months ended December 31, 2025, was $79.32 million, up $10.57 million or 15.4% from $68.75 million in 2024[100] Earnings Per Share - Diluted earnings per share increased to $0.47 per share in the quarter ended December 31, 2025, from $0.46 per share in the quarter ended December 31, 2024, an increase of $0.01 per share, or 2%[88] Tax Information - The effective tax rate was 25% for the quarter ended December 31, 2025, compared to 22.8% for the quarter ended December 31, 2024[86] - The effective tax rate increased to 23.3% for the nine months ended December 31, 2025, compared to 21.4% in the same period of 2024[105] Cash Flow - Cash and cash equivalents increased to $230.0 million as of December 31, 2025, from $170.6 million as of March 31, 2025, an increase of $59.4 million[106] - Net cash provided by operating activities increased to $126.2 million for the nine months ended December 31, 2025, up $21.8 million from $104.4 million in 2024[111] - Net cash flow used in financing activities increased to $30.5 million for the nine months ended December 31, 2025, from $19.9 million in the previous year, primarily due to increased share repurchases[113] Acquisitions - The Company acquired a privately held technology firm during the quarter ended September 30, 2025, enhancing its bill review process[82] Future Expectations - The Company expects general and administrative expenses to be between 9% and 11% of revenues in future quarters[85]

Core Insights - CorVel reported a net income of $24.1 million for the December 2025 quarter, showing a slight increase from $23.8 million in the same period last year [1] - The company achieved revenue of $236 million in the December 2025 quarter, a 3% increase from $228 million in December 2024, with earnings per share (EPS) rising to $0.47 from $0.46 [2][6] - For the nine months ending December 31, 2025, revenue reached $710 million, up 7% from $664 million in the prior-year period, and year-to-date EPS increased by 16% to $1.53 from $1.32 [3][6] Financial Performance - The allocation of general and administrative expenses decreased to 9.6% from 9.7%, while the margin improved to 23.3% from 23.2% [2] - CorVel ended the quarter debt-free with $230 million in cash and reported fiscal year-to-date free cash flow of $90 million [5][16] - The company repurchased 185,559 shares for $13.4 million during the quarter, totaling 114.9 million shares repurchased for $868 million, representing approximately 69% of shares outstanding [5][15] Operational Insights - Management attributed modest growth to short-term operational factors rather than changes in underlying business fundamentals, emphasizing continued investment in artificial intelligence (AI) and automation [4][8] - The company completed a technology-focused acquisition in late June, which is enhancing efficiency and capabilities in commercial health, claims management, and payment integrity services [5][9] - CorVel's healthcare payment integrity business, CERIS, is evolving as medical costs rise, with health plans increasingly turning to technology to improve accuracy and financial performance [10][11] Market Trends - The U.S. Department of Labor reported a small decline in total work-related injuries from 2023 to 2024, which correlates with a longer-term downward trend [6] - Despite fewer injuries leading to fewer claims, the severity and medical costs per claim have been increasing, with average medical and lost-time claim severity rising by 6% in 2024 [6][7] - Labor market dynamics are also significant, with expectations for job openings in physically demanding occupations that are more susceptible to work-related injuries [7] Strategic Focus - The company is leveraging technology to automate lower-value activities, aiming to reduce service delivery costs while improving client outcomes [10] - AI is being utilized to enhance claims management, case management, and software development processes, supporting margin expansion through productivity gains [12][13] - CorVel's focus on payment integrity and fraud prevention aims to address rising medical costs and improper payments, with recoveries exceeding $6.8 billion in the healthcare sector in 2025 [14]

Financial Data and Key Metrics Changes - CorVel's revenue for the nine months ending December 31, 2025, was $710 million, a 7% increase from $664 million in the same period of the previous fiscal year [5] - Earnings per share for the same period were $1.53, up 16% from $1.32 during the nine months ending December 31, 2024 [5] - For the December 2025 quarter, revenues were $236 million, a 3% increase from $228 million in the December 2024 quarter [5] - Earnings per share for the December 2025 quarter were $0.47, an increase of 2% over the same quarter of the prior year at $0.46 [5] - Overall net income for the December 2025 quarter was $24.1 million, up from $23.8 million in December 2024 [6] Business Line Data and Key Metrics Changes - Key growth drivers included Independent Medical Evaluations, CERIS, Ancillary Care Solutions, Medical Bill Re-review, and Claims Management [7] - The allocation of general and administrative expenses decreased from 9.7% to 9.6%, with a corresponding improvement in margin from 23.2% to 23.3% [6] Market Data and Key Metrics Changes - The U.S. Department of Labor reported a small decline in total work-related injuries from 2023 to 2024, consistent with a decade-long trend [7] - Average medical and lost time claim severity increased by 6% in 2024, leading to elevated medical costs and extended duration of injury claims [8] - Medical costs are rising due to inflation, with increases noted between 5%-12% across multiple states [9] Company Strategy and Development Direction - CorVel is focusing on product innovation, savings through clinical outcomes, and effective management to adapt to industry shifts and leverage growth opportunities [10] - The company is investing in AI initiatives to enhance operational efficiency and improve outcomes for partners [11] - A technology-centric acquisition was closed at the end of June, contributing to increased efficiency in health payment integrity services [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the December quarter results were modest relative to expectations, primarily due to short-term operational factors [11] - The net revenue retention for the business was 107%, with a 44% close rate on new business opportunities [11] - Management emphasized the importance of technology and reputation in maintaining growth momentum despite recent revenue growth deceleration [23] Other Important Information - CorVel repurchased 185,559 shares at a cost of $13.4 million during the quarter, totaling 114.9 million shares repurchased for $868 million since inception [19] - The quarter-ending cash balance was $230 million, with free cash flow of $90 million for the fiscal year to date [21] - The company maintains a strong and debt-free balance sheet, positioning it well for strategic product expansion and technological advancement [21] Q&A Session Summary Question: Can you provide more detail on the deceleration of year-over-year revenue growth for each segment? - Management indicated that revenue growth has not been a straight line historically and believes that investment in technology and reputation will support future growth [23] Question: Can you please provide more context around segment quarter three? - CorVel operates within a single segment, providing services in Patient Management and Network Solutions, and does not report products separately [24]

Financial Data and Key Metrics Changes - CorVel's revenue for the nine months ending December 31, 2025, was $710 million, a 7% increase from $664 million in the same period of the previous fiscal year [5] - Earnings per share for the same period were $1.53, up 16% from $1.32 during the nine months ending December 31, 2024 [5] - For the December 2025 quarter, revenues were $236 million, a 3% increase from $228 million in the December 2024 quarter [5] - Earnings per share for the December 2025 quarter were $0.47, an increase of 2% over the same quarter of the prior year at $0.46 [5] - Overall net income for the December 2025 quarter was $24.1 million, up from $23.8 million in December 2024 [6] Business Line Data and Key Metrics Changes - Key growth drivers included Independent Medical Evaluations, CERIS, Ancillary Care Solutions, Medical Bill Re-review, and Claims Management [7] - The allocation of general and administrative expenses decreased from 9.7% to 9.6%, with margin improvement from 23.2% to 23.3% [6] Market Data and Key Metrics Changes - The U.S. Department of Labor reported a small decline in total work-related injuries from 2023 to 2024, consistent with a decade-long trend [7] - Average medical and lost time claim severity increased by 6% in 2024, leading to elevated medical costs and extended duration of injury claims [8] - Medical costs are rising due to inflation, with increases noted between 5%-12% across multiple states [9] Company Strategy and Development Direction - CorVel is focusing on product innovation, savings through clinical outcomes, and effective management to adapt to industry shifts and leverage growth opportunities [10] - The company is investing in AI initiatives to enhance operational efficiency and improve outcomes for partners [11] - A technology-centric acquisition was closed at the end of June, contributing to increased efficiency in health payment integrity services [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the December quarter results were modest relative to expectations, primarily due to short-term operational factors [11] - The net revenue retention for the business was 107%, with a 44% close rate on new business opportunities [11] - Management emphasized the importance of technology and reputation in maintaining growth momentum despite recent revenue fluctuations [23] Other Important Information - CorVel repurchased 185,559 shares at a cost of $13.4 million during the quarter, totaling 69% of shares outstanding repurchased at an average price of $7.55 per share [19] - The quarter-ending cash balance was $230 million, with free cash flow of $90 million for the fiscal year to date [20][21] - The company maintains a strong and debt-free balance sheet, positioning it for continued strategic expansion and technological advancement [21] Q&A Session Summary Question: Can you provide more detail on the deceleration of year-over-year revenue growth for each segment? - Management indicated that revenue growth has not been a straight line historically and believes that investment in technology and reputation will support future growth [23] Question: Can you please provide more context around segment quarter three? - Management clarified that CorVel operates within a single segment, providing services under Patient Management and Network Solutions without breaking them out separately [24]

Financial Data and Key Metrics Changes - CorVel's revenue for the nine months ending December 31, 2025, was $710 million, a 7% increase from $664 million in the same period of the previous fiscal year [5] - Earnings per share for the same period were $1.53, up 16% compared to $1.32 during the nine months ending December 31, 2024 [5] - For the December 2025 quarter, revenues were $236 million, a 3% increase from $228 million in the December 2024 quarter [5] - Earnings per share for the December 2025 quarter were $0.47, an increase of 2% over the same quarter of the prior year [5] - Overall net income for the December 2025 quarter was $24.1 million, up from $23.8 million in December 2024 [6] Business Line Data and Key Metrics Changes - Key growth drivers included Independent Medical Evaluations, CERIS, Ancillary Care Solutions, Medical Bill Re-review, and Claims Management [7] - The allocation of general and administrative expenses decreased from 9.7% to 9.6%, with a corresponding improvement in margin from 23.2% to 23.3% [6] Market Data and Key Metrics Changes - The U.S. Department of Labor reported a small decline in total work-related injuries from 2023 to 2024, consistent with a decade-long trend [7] - Average medical and lost time claim severity increased by 6% in 2024, leading to higher medical costs and longer injury claim durations [9] - Medical costs are rising due to inflation, with increases reported between 5%-12% across multiple states [10] Company Strategy and Development Direction - CorVel is focusing on product innovation, savings through clinical outcomes, and effective management to adapt to industry shifts and leverage growth opportunities [11] - The company is investing in AI initiatives to enhance operational efficiency and improve outcomes for partners [12] - A technology-centric acquisition was closed at the end of June, contributing to increased efficiency in health payment integrity services [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the December quarter results were modest relative to expectations, primarily due to short-term operational factors [12] - The net revenue retention for the business was 107%, with a 44% close rate on new business opportunities [12] - Management emphasized that the historical revenue growth pattern is expected to continue despite recent deceleration [24] Other Important Information - CorVel repurchased 185,559 shares at a cost of $13.4 million during the quarter, totaling 69% of the shares outstanding repurchased at an average price of $7.55 per share [21] - The company reported a Day Sales Outstanding of 39 days, an improvement of three days compared to the same period a year ago [21] - Free cash flow for the fiscal year to date was $90 million, with increased capital expenditures due to proprietary software development [22] Q&A Session Summary Question: Can you provide more detail on the deceleration of year-over-year revenue growth for each segment? - Management indicated that revenue growth is not a straight line and believes that investment in technology and the company's reputation will support future growth [24] Question: Can you please provide more context around segment quarter three? - Management clarified that CorVel operates within a single segment, providing services in Patient Management and Network Solutions without breaking down products separately [25]

Financial Performance - Revenues for the nine months ended December 31, 2025, were $710 million, a 7% increase from $664 million in the same period of 2024[1] - Earnings per share for the nine months ended December 31, 2025, were $1.53, up 16% from $1.32 in the prior year[1] - Revenues for the quarter ended December 31, 2025, were $236 million, an increase from $228 million in the same quarter of 2024[1] - The company reported a net income of $79.3 million for the nine months ended December 31, 2025, compared to $68.7 million in the same period of 2024[8] Gross Profit and Cash Position - Gross profit for the quarter increased 4% to $54.9 million, with a gross margin of 23%[6] - The company exited the quarter with $230 million in cash and cash equivalents, with no borrowings[6] Shareholder Actions - CorVel repurchased $13.4 million of common stock during the quarter[6] Strategic Initiatives - The integration of a recent strategic acquisition is progressing ahead of plan, accelerating innovation and expanding technology capabilities[3] - AI initiatives are enhancing operational efficiency and improving outcomes for partners across products and services[3] Asset Growth - Total assets as of December 31, 2025, were $644.8 million, up from $546.0 million as of March 31, 2025[9]

Investor Relations 2026 In risk management, timing is everything. We act fast to provide the right support at the right moment - keeping claims on track and people on the path to recovery. We stand on experience Decades of delivering results have made us a proven partner for organizations nationwide. We bring consistency, care, and a deep understanding of what drives better outcomes. We Push Care Forward For us, innovation means more than technology. It's about combining powerful tools with the empathy and ...

Core Insights - CorVel Corporation's Executive Vice President Sarah Scott has been recognized in Business Insurance's "Women to Watch" list for 2025, celebrating her leadership and innovation in the insurance and risk management sectors [1][4]. Company Overview - CorVel Corporation has a 26-year history with Sarah Scott, who has significantly contributed to the company's product innovation, clinical integration, and digital transformation initiatives [2]. - The company utilizes technology such as artificial intelligence, machine learning, and natural language processing to manage healthcare costs and improve care episodes [5]. Leadership and Innovation - Sarah Scott's background as a registered nurse has informed her approach to enhancing patient outcomes and operational efficiency through a data-driven strategy [3]. - She is currently leading efforts to integrate generative AI into CorVel's product offerings, aiming to improve decision-making processes and outcomes for injured workers [3]. Team and Market Position - Scott's leadership style emphasizes value addition and performance, inspiring her teams to innovate and execute effectively, thereby strengthening CorVel's market position [4]. - The recognition of Scott is seen as a reflection of the collaborative efforts of her team in advancing the industry through technology that maintains the human connection in recovery [4].