CorVel Posts Modest Q3 Growth as AI Push and Acquisition Integration Advance

Overview

• December‑quarter revenue rose 3% year over year to $236 million with EPS of $0.47, net income of $24.17 million, and a 23% gross margin on $54.9 million of gross profit.
• For the nine months ended December 31, revenue reached $710 million up 7% with year‑to‑date EPS of $1.53 up 16%.
• The company ended the quarter debt‑free with $230 million in cash, and fiscal year‑to‑date free cash flow totaled $90 million, according to management commentary reported by Yahoo Finance.
• CorVel repurchased 185,559 shares for $13.4 million in the quarter, and roughly 114.9 million shares have been bought back for $868 million to date per disclosed totals.
• Executives reported material progress on AI initiatives and said the late‑June technology acquisition is integrating ahead of plan across claims and CERIS, while noting industry dynamics such as lower injury volumes, higher severity, rising medical costs, and labor shifts.