CorVel(US:CRVL)2025-11-06 21:30Revenue Growth - The Company's revenues increased to $239.6 million in the quarter ended September 30, 2025, from $224.4 million in the quarter ended September 30, 2024, an increase of $15.3 million, or 7%[86] - Revenue increased to $474.4 million for the six months ended September 30, 2025, up by $38.3 million or 9% from $436.1 million in the same period in 2024[104] - Patient management services revenues rose to $297.6 million, an increase of $11.2 million or 4%, while network solutions services revenues increased to $176.8 million, up by $27.0 million or 18%[104] Cost and Expenses - Cost of revenues increased to $181.5 million in the quarter ended September 30, 2025, from $173.6 million in the quarter ended September 30, 2024, an increase of $7.8 million, or 5%[87] - General and administrative expense increased to $22.3 million in the quarter ended September 30, 2025, from $22.1 million in the quarter ended September 30, 2024, an increase of $0.2 million, or 1%[88] - General and administrative expenses increased to $43.6 million, up by $1.4 million or 3%, accounting for approximately 9% of revenues[107] Profitability - Income before income tax provision increased to $35.9 million in the quarter ended September 30, 2025, from $28.7 million in the quarter ended September 30, 2024, an increase of $7.2 million, or 25%[89] - Net income increased to $27.9 million in the quarter ended September 30, 2025, from $23.4 million in the quarter ended September 30, 2024, an increase of $4.5 million, or 19.3%[95] - Gross profit increased to $58.2 million in the quarter ended September 30, 2025, from $50.7 million in the quarter ended September 30, 2024, an increase of $7.4 million, or 14.6%[95] - Income before income tax provision increased to $71.2 million, a rise of $14.5 million or 26% compared to $56.7 million in the same period in 2024[108] - Net income for the six months ended September 30, 2025, was $55.1 million, reflecting a 22.6% increase from $45.0 million in the prior year[103] - Gross profit for the six months ended September 30, 2025, was $114.8 million, representing a 16.1% increase from $98.9 million in the prior year[103] Cash Flow - Cash and cash equivalents increased to $207.5 million as of September 30, 2025, up by $36.9 million from $170.6 million as of March 31, 2025[110] - Net cash provided by operating activities rose to $80.0 million, an increase of $17.3 million from $62.7 million in the same period in 2024[114] Taxation - The effective tax rate was 22% for the quarter ended September 30, 2025, compared to 18% for the quarter ended September 30, 2024[89] - The effective tax rate for the six months ended September 30, 2025, was 23%, compared to 21% for the same period in 2024[108] Acquisitions - The Company acquired a privately held technology firm during the quarter ended September 30, 2025, enhancing its bill review process[85] Future Expectations - The company expects general and administrative expenses to remain at approximately 9% to 11% of revenues in future quarters[1]