CorVel(US:CRVL)2025-02-04 01:37Financial Performance - Revenues for the quarter ended December 31, 2024, were $228 million, a 13% increase from $202 million in the same quarter of 2023[1] - Earnings per share for the quarter were $0.46, up 39% from $0.33 in the same quarter of the prior year[1] - Gross profit for the quarter increased 25% to $52.9 million, with a gross margin of 23.2% compared to $42.2 million in the same quarter of fiscal year 2024[6] - For the nine months ended December 31, 2024, revenues were $664 million, a 13% increase from $588 million during the same period in 2023[1] - Net income for the quarter was $23.8 million, compared to $17.1 million in the same quarter of the prior year[8] Cash and Assets - The company exited the quarter with $163 million in cash and cash equivalents, with no borrowings[6] - Total assets as of December 31, 2024, were $538.8 million, up from $454.7 million as of March 31, 2024[9] Strategic Initiatives - Generative-AI-based functionality was released to enhance document processing and communication platforms, improving operational efficiency[3] - CorVel's CERIS system is positioned to help ASO customers achieve greater cost efficiency in claims amidst rising medical costs[4] Stock Activity - The company repurchased $9.6 million of common stock during the quarter[6]