Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 0-19291 Delaware 33-0282651 ( State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 5128 Apache Plume Road, Suite 400 Fort Worth, Texas 76109 (Address of principal exe ...

FORT WORTH, Texas, May 22, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter and fiscal year ended March 31, 2024. Revenues for the quarter were $207 million, an increase from $185 million in the same quarter of the previous year. Earnings per share for the quarter were $1.12, compared to $1.04 in the same quarter of the prior year. Revenues for the fiscal year ended March 31, 2024 were $795 million, compared to $719 million for the fiscal year ended March 31, ...

Exhibit 99.1 Date: May 22, 2024 CorVel Corporation FOR IMMEDIATE RELEASE Contact: Melissa Storan 5128 Apache Plume Road Suite 400 Fort Worth, TX 76109 Phone: 949-851-1473 www.corvel.com CorVel Announces Revenues and Earnings FORT WORTH, Texas, May 22, 2024 — CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter and fiscal year ended March 31, 2024. Revenues for the quarter were $207 million, an increase from $185 million in the same quarter of the previous year. Earnings per share for the ...

FORT WORTH, Texas, April 23, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ:CRVL), a national provider of risk management solutions, is announcing upcoming innovations to its managed care service offerings. Over the past year, CorVel has invested substantially in advanced technologies, particularly Generative AI. As a result, CorVel is pleased to introduce a new hub platform to the carrier market. This offering will lessen our partners' IT constraints and lead to better program outcomes. Founded over t ...

FORT WORTH, Texas, Feb. 28, 2024 (GLOBE NEWSWIRE) -- To meet the growing demand for cost-effective vocational evaluation services in workers' compensation, CorVel Corporation(NASDAQ:CRVL), a national provider of risk management solutions, has created a "center of excellence" for its clients, offering services virtually and in-person across the U.S. "Companies are focused on keeping good employees, so they value in-depth vocational evaluation assistance that enables them to get injured employees back to work ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to x Commission file number 0-19291 CORVEL CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 33-0282651 (State or other jurisdict ...

FORT WORTH, Texas, Jan. 30, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ:CRVL) announced the results for the quarter ended December 31, 2023. Revenues for the quarter were $202 million, an increase from $179 million in the December quarter of 2022. Earnings per share for the quarter were $0.99, compared to $0.96 in the same quarter of the prior year.   Revenues for the nine months ended December 31, 2023 were $588 million, compared to $533 million for the nine months ended December 31, 2022. Earnings ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to x Commission file number 0-19291 Securities registered pursuant to Section 12(b) of the Act: CORVEL CORPORATION QUARTERLY REPORT ON FORM 10-Q TABLE OF CONTENTS Item 1. Financial Statements 3 See accompanying notes to unaudited consol ...

Financial Data and Key Metrics - September quarter revenues were $196 million, a 10% increase from $177 million in the September 2022 quarter [5] - Earnings per share for the quarter were $1.15, up 39% from $0.83 in the same quarter of the prior year [5] - Gross profit increased by 43% compared to the September 2022 quarter [19] - Revenue for patient management was $130 million, a 9% annual increase [19] - Revenue for network solutions was $66 million, up 13% from the same quarter of the prior year [22] - Gross profit in the wholesale business was up 7% from the September 2022 quarter [22] - Day sales outstanding (DSO) was 40 days, down four days from a year ago [23] - Quarter-ending cash balance was $92 million [23] Business Line Performance - Network solutions and patient management business showed balanced growth [5] - CERiS, focused on the commercial health payment integrity market, is maturing with new services added last year [5] - CareIQ, the ancillary benefits management solution, is gaining market attention due to service quality and results [6] - CERiS continues to focus on adding new services, with workflow optimization for the DRG service introduced in early 2023 [15][16] - Symbeo is guiding partners through digital payment transformations, leveraging hyperautomation for faster invoice cycle times and lower costs [17] - Treasury Services Department expanded online payment portals to include claimants and customers, enhancing functionality [18] Market Performance - The insurance industry is facing challenges with the labor market, including a shortage of qualified professionals and the impact of baby boomer retirements [7][8] - Pharmacy utilization has decreased significantly in Texas following the adoption of a closed formulary, with pharmacy claims down 57%, total scripts down 73%, and opioid scripts down 86% [13] - Physical therapy visits have increased by 13% over the last eight years, with costs per visit rising by 17% [14] - CorVel's CareIQ has seen a 23% lower increase in visits and 65% lower cost per visit compared to industry averages [14] Strategic Direction and Industry Competition - The company is addressing labor market challenges with automation, machine learning, and Generative AI to enhance efficiency and decision-making [9][10] - CorVel University was launched to train current employees and external candidates in claims management, with over 1,100 applicants for the first class [11] - The company is investing in technology, including Generative AI, and programs like CorVel View to attract younger professionals and modernize operations [12] - CorVel is actively involved in influencing policy and legislation, particularly in physical therapy and pharmacy [12] - The company is leveraging AI and ML to optimize workflows and improve financial results, with additional technological enhancements planned for future quarters [16] Management Commentary on Operating Environment and Future Outlook - The company is proactively adjusting to a dynamic business environment and shifting industry landscape [12] - Management expects increasing momentum in CERiS as transaction volumes grow and new payment integrity services are optimized [5] - The company anticipates further adoption and restructuring of state-level pharmacy formularies, which could impact pharmaceutical costs [13] - CorVel's strong financial position, with no debt and strong operating cash flow, supports ongoing investments in technology and programs [12][23] Other Important Information - The company repurchased 45,501 shares during the quarter at a total cost of $9.4 million, bringing total repurchases to 38 million shares at a cost of $775 million since inception [23] - CorVel's debt-free balance sheet contrasts with many others in the segment facing increasing debt loads and interest rate cost headwinds [24] Q&A Session - No specific questions or answers were provided in the transcript [24]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 | --- | --- | |-------------------------------------------------------------------------------------------------------------------|------------------------------------------| | | | | Commission file number | 0-19291 | | CORVEL CORPORATION (Exact Name of Registrant as | Specified in its Charter) | | Delaware | 33-0282651 | | incorporation or organization) (State or other jurisdiction of | (I.R.S. Employer Identification No.) | | 5128 Apa ...