Q3 2026 CorVel Corp Earnings Call Transcript
Key Points
- CorVel Corp (CRVL) reported a 7% increase in revenue for the nine months ending December 31, 2025, reaching $710 million compared to $664 million in the previous fiscal year.
- Earnings per share for the fiscal year-to-date increased by 16%, from $1.32 to $1.53.
- The company achieved a net revenue retention rate of 107% and a 44% close rate on new business opportunities in 2025.
- CorVel Corp (CRVL) is leveraging AI to enhance operational efficiency, improve client outcomes, and reduce service delivery costs.
- The company maintains a strong, debt-free balance sheet, allowing for strategic product expansion and technological advancement.
- The December quarter results were modest relative to expectations, primarily due to short-term operational factors.
- An increase in the effective tax rate tempered earnings results for the quarter.
- There was a deceleration in year-over-year revenue growth for the December 2025 quarter, with only a 3% increase compared to the previous year.
- The workers' compensation market is experiencing a lower volume of work-related injuries, which could impact the volume of claims.
- Rising medical costs and increasing injury severity are challenges that could affect the company's financial performance.
Thank you for standing by. Welcome to CorVel Corporation's quarterly earnings release webcast. During the course of this webcast, CorVel Corporation will make projections or other forward-looking statements regarding future events or future financial performances of the company. CorVel wishes to caution you that these statements are only predictions and that actual events or results may differ materially.
CorVel refers you to the documents in the company's files from time to time with the Securities and Exchange Commission, specifically the company's last Form 10-K, and 10-Q filed for the most recent fiscal year-end quarter.
These documents contain and identify important factors that could cause actual results to differ materially from those contained in our projections and forward-looking statements. I would now like to turn the call over to Michael Combs, President and Chief Executive Officer. Mike, you may proceed.
Thank you. Good morning, and thank you for
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