CorVel Announces Revenues and Earnings
CorVel (NASDAQ: CRVL) reported strong financial results for Q2 FY2025. Revenue increased 15% to $224 million compared to Q2 FY2024. Earnings per share grew 17% to $1.35. The company's six-month revenue reached $436 million, up from $386 million in the previous year. Gross profit rose 15% to $50.7 million with a 22.6% margin. The company maintained a strong financial position with $138 million in cash and no debt, while repurchasing $9.6 million in common stock. The results were driven by Network Solutions programs and Patient Management Segment performance, achieving 110% Net Revenue Retention.
CorVel (NASDAQ: CRVL) ha riportato risultati finanziari solidi per il secondo trimestre dell'anno fiscale 2025. Il fatturato è aumentato del 15% raggiungendo i 224 milioni di dollari rispetto al secondo trimestre dell'anno fiscale 2024. Gli utili per azione sono cresciuti del 17% a 1,35 dollari. Il fatturato aziendale dei sei mesi ha raggiunto i 436 milioni di dollari, rispetto ai 386 milioni dell'anno precedente. Il profitto lordo è aumentato del 15% a 50,7 milioni di dollari con un margine del 22,6%. L'azienda ha mantenuto una solida posizione finanziaria con 138 milioni di dollari in contanti e senza debiti, mentre ha riacquistato 9,6 milioni di dollari in azioni ordinarie. I risultati sono stati sostenuti dai programmi delle Soluzioni di Rete e dalle performance del Segmento di Gestione dei Pazienti, ottenendo un 110% di retention del fatturato netto.
CorVel (NASDAQ: CRVL) informó resultados financieros sólidos para el segundo trimestre del año fiscal 2025. Los ingresos aumentaron un 15% alcanzando los 224 millones de dólares en comparación con el segundo trimestre del año fiscal 2024. Las ganancias por acción crecieron un 17% a 1,35 dólares. Los ingresos de la empresa en seis meses alcanzaron los 436 millones de dólares, frente a los 386 millones del año anterior. El beneficio bruto aumentó un 15% a 50,7 millones de dólares con un margen del 22,6%. La empresa mantuvo una fuerte posición financiera con 138 millones de dólares en efectivo y sin deudas, mientras recompró 9,6 millones de dólares en acciones comunes. Los resultados fueron impulsados por los programas de Soluciones de Red y el rendimiento del Segmento de Gestión de Pacientes, logrando una retención de ingresos netos del 110%.
CorVel (NASDAQ: CRVL)는 2025 회계연도 2분기에 대한 강력한 재무 결과를 보고했습니다. 매출은 15% 증가했습니다 (2억 2400만 달러) 2024 회계연도 2분기와 비교하여. 주당 순이익은 17% 증가하여 1.35달러에 달했습니다. 회사의 6개월 매출은 4억 3600만 달러에 달해, 지난해 3억 8600만 달러에서 증가했습니다. 총 이익은 15% 증가하여 5070만 달러에 이르며, 마진은 22.6%입니다. 회사는 1억 3800만 달러의 현금을 보유하고 있으며 부채없이 강력한 재무 상태를 유지하였고, 960만 달러의 보통주를 재매입했습니다. 결과는 네트워크 솔루션 프로그램과 환자 관리 부문의 성과에 의해 주도되었으며, 110%의 순매출 유지율을 달성했습니다.
CorVel (NASDAQ: CRVL) a annoncé de solides résultats financiers pour le deuxième trimestre de l'exercice 2025. Les revenus ont augmenté de 15% pour atteindre 224 millions de dollars par rapport au deuxième trimestre de l'exercice 2024. Le bénéfice par action a crû de 17% pour atteindre 1,35 dollar. Les revenus de l'entreprise sur six mois ont atteint 436 millions de dollars, contre 386 millions l'année précédente. Le bénéfice brut a augmenté de 15% pour atteindre 50,7 millions de dollars avec une marge de 22,6%. L'entreprise a maintenu une solide position financière avec 138 millions de dollars en liquidités et aucune dette, tout en rachetant pour 9,6 millions de dollars d'actions ordinaires. Les résultats ont été soutenus par les programmes de Solutions Réseau et la performance du Segment de Gestion des Patients, avec un maintien des revenus nets de 110%.
CorVel (NASDAQ: CRVL) hat für das zweite Quartal des Geschäftsjahres 2025 starke Finanzzahlen berichtet. Der Umsatz stieg um 15% auf 224 Millionen Dollar im Vergleich zum zweiten Quartal des Geschäftsjahres 2024. Der Gewinn pro Aktie wuchs um 17% auf 1,35 Dollar. Der Umsatz des Unternehmens für sechs Monate erreichte 436 Millionen Dollar, gegenüber 386 Millionen Dollar im Vorjahr. Der Bruttogewinn stieg um 15% auf 50,7 Millionen Dollar mit einer Marge von 22,6%. Das Unternehmen hielt eine starke finanzielle Position mit 138 Millionen Dollar in bar und ohne Schulden, während es 9,6 Millionen Dollar an Stammaktien zurückkaufte. Die Ergebnisse wurden durch Programme der Netzwerk-Lösungen und die Leistung des Patient Management Segments angetrieben, wobei eine Netto-Umsatzbindungsrate von 110% erreicht wurde.
- Revenue growth of 15% to $224 million
- EPS increase of 17% to $1.35
- Gross profit up 15% to $50.7 million
- Strong cash position of $138 million with zero debt
- 110% Net Revenue Retention rate
- $9.6 million in share repurchases completed
- None.
Insights
Strong quarterly performance with impressive growth metrics across key financial indicators. Revenue growth of
The company's solid balance sheet with
FORT WORTH, Texas, Nov. 05, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended September 30, 2024. Revenues for the quarter were
Second Quarter Fiscal Year 2025 Highlights
- Revenue increased
15% to$224 million , compared to the second quarter of fiscal year 2024. - Gross profit increased
15% to$50.7 million , at22.6% gross margin, compared to the second quarter of fiscal year 2024 gross profit of$44.3 million . - Diluted earnings per share increased
17% to$1.35 , compared to the second quarter of fiscal year 2024 diluted earnings per share of$1.15 . - Exited the quarter with
$138 million in cash, cash equivalents, and no borrowings. - The Company repurchased
$9.6 million of common stock during the quarter.
CorVel’s conservative fiscal principles have created a strong balance sheet with positive cash flow, providing financial flexibility and allowing the Company to prioritize investments in systems, technological innovation, and growth initiatives while returning value to shareholders. The quarterly results benefited from revenue generated by several large Network Solutions programs launched in previous quarters and the continued strong new sales and operational performance of the Patient Management Segment. In addition to successfully winning and implementing new customers, the Net Revenue Retention for the quarter was
During the quarter, the Company hosted its annual Partnership meeting and attended the National Comp conference. Both events allowed meaningful interactions with strategic clients, prospects, and brokers to review program enhancements and ongoing initiatives and outline the Company's vision for products and services over the next few years. Those conversations validated the current market position and affirmed engagement, results achieved, and technological innovation as the primary drivers for increased market share.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, improved productivity resulting from automation and augmentation across enterprise business systems. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement results of operations and financial condition is greater than our initial assessment. The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2024, and the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
CorVel Corporation
Quarterly Results – Income Statement
Quarters and Six Months Ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)
| Quarter Ended | September 30, 2024 | September 30, 2023 | ||||||
| Revenues | $ | 224,380,000 | $ | 195,522,000 | ||||
| Cost of revenues | 173,632,000 | 151,270,000 | ||||||
| Gross profit | 50,748,000 | 44,252,000 | ||||||
| General and administrative | 22,078,000 | 19,538,000 | ||||||
| Income from operations | 28,670,000 | 24,714,000 | ||||||
| Income tax provision | 5,272,000 | 4,816,000 | ||||||
| Net income | $ | 23,398,000 | $ | 19,898,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 1.37 | $ | 1.16 | ||||
| Diluted | $ | 1.35 | $ | 1.15 | ||||
| Weighted Shares | ||||||||
| Basic | 17,133,000 | 17,123,000 | ||||||
| Diluted | 17,341,000 | 17,346,000 | ||||||
| Six Months Ended | September 30, 2024 | September 30, 2023 | ||||||
| Revenues | $ | 436,102,000 | $ | 385,775,000 | ||||
| Cost of revenues | 337,200,000 | 299,644,000 | ||||||
| Gross profit | 98,902,000 | 86,131,000 | ||||||
| General and administrative | 42,198,000 | 35,989,000 | ||||||
| Income from operations | 56,704,000 | 50,142,000 | ||||||
| Income tax provision | 11,729,000 | 10,439,000 | ||||||
| Net income | $ | 44,975,000 | $ | 39,703,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 2.63 | $ | 2.32 | ||||
| Diluted | $ | 2.60 | $ | 2.29 | ||||
| Weighted Shares | ||||||||
| Basic | 17,127,000 | 17,133,000 | ||||||
| Diluted | 17,327,000 | 17,365,000 | ||||||
CorVel Corporation
Quarterly Results – Condensed Balance Sheet
September 30, 2024 (unaudited) and March 31, 2024
| September 30, 2024 | March 31, 2024 | |||||||
| Cash | $ | 138,349,000 | $ | 105,563,000 | ||||
| Customer deposits | 109,110,000 | 88,142,000 | ||||||
| Accounts receivable, net | 102,393,000 | 97,108,000 | ||||||
| Prepaid taxes and expenses | 13,481,000 | 11,418,000 | ||||||
| Property, net | 89,115,000 | 85,892,000 | ||||||
| Goodwill and other assets | 42,287,000 | 42,498,000 | ||||||
| Right-of-use asset, net | 23,818,000 | 24,058,000 | ||||||
| Total | $ | 518,553,000 | $ | 454,679,000 | ||||
| Accounts and taxes payable | $ | 14,174,000 | $ | 16,631,000 | ||||
| Accrued liabilities | 198,685,000 | 167,868,000 | ||||||
| Long-term lease liabilities | 22,922,000 | 22,533,000 | ||||||
| Paid-in capital | 242,897,000 | 233,632,000 | ||||||
| Treasury stock | (813,020,000 | ) | (793,905,000 | ) | ||||
| Retained earnings | 852,895,000 | 807,920,000 | ||||||
| Total | $ | 518,553,000 | $ | 454,679,000 | ||||
Contact: Melissa Storan
Phone: 949-851-1473
www.corvel.com
FAQ
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