CorVel Announces Revenues and Earnings
CorVel (NASDAQ: CRVL) reported strong financial results for Q3 FY2025. Revenue increased 13% to $228 million compared to $202 million in Q3 FY2024. Earnings per share rose 39% to $0.46 from $0.33 year-over-year.
For the nine months ended December 31, 2024, revenues reached $664 million, up from $588 million in the same period of 2023. Gross profit increased 25% to $52.9 million, achieving a 23.2% gross margin. The company maintained a strong financial position with $163 million in cash and no borrowings, while repurchasing $9.6 million of common stock during the quarter.
The company implemented generative-AI functionality to enhance document processing and claim milestone identification, with plans for further improvements to their integrated communication platform. CorVel also noted increasing demand for medical cost savings solutions through their CERIS platform.
CorVel (NASDAQ: CRVL) ha riportato risultati finanziari solidi per il terzo trimestre dell'anno fiscale 2025. I ricavi sono aumentati del 13% a 228 milioni di dollari rispetto ai 202 milioni di dollari del terzo trimestre dell'anno fiscale 2024. L'utile per azione è salito del 39% a 0,46 dollari rispetto a 0,33 dollari rispetto all'anno precedente.
Per i nove mesi conclusi il 31 dicembre 2024, i ricavi hanno raggiunto 664 milioni di dollari, in aumento rispetto ai 588 milioni di dollari nello stesso periodo del 2023. Il profitto lordo è aumentato del 25% a 52,9 milioni di dollari, raggiungendo un margine lordo del 23,2%. L'azienda ha mantenuto una solida posizione finanziaria con 163 milioni di dollari in cassa e nessun prestito, mentre ha riacquistato 9,6 milioni di dollari di azioni ordinarie durante il trimestre.
L'azienda ha implementato funzionalità di intelligenza artificiale generativa per migliorare l'elaborazione dei documenti e l'identificazione delle tappe delle richieste, con piani per ulteriori miglioramenti alla loro piattaforma di comunicazione integrata. CorVel ha anche notato un aumento della domanda di soluzioni per il risparmio sui costi medici attraverso la loro piattaforma CERIS.
CorVel (NASDAQ: CRVL) reportó resultados financieros sólidos para el tercer trimestre del año fiscal 2025. Los ingresos aumentaron un 13% a 228 millones de dólares en comparación con 202 millones de dólares en el tercer trimestre del año fiscal 2024. Las ganancias por acción aumentaron un 39% a 0,46 dólares desde 0,33 dólares del año anterior.
Para los nueve meses finalizados el 31 de diciembre de 2024, los ingresos alcanzaron 664 millones de dólares, en comparación con los 588 millones de dólares en el mismo período de 2023. El beneficio bruto aumentó un 25% a 52,9 millones de dólares, logrando un margen bruto del 23,2%. La empresa mantuvo una sólida posición financiera con 163 millones de dólares en efectivo y sin deudas, mientras que recompró 9,6 millones de dólares en acciones ordinarias durante el trimestre.
La empresa implementó funcionalidades de inteligencia artificial generativa para mejorar el procesamiento de documentos y la identificación de hitos en las reclamaciones, con planes para más mejoras en su plataforma de comunicación integrada. CorVel también destacó el aumento de la demanda de soluciones para el ahorro de costos médicos a través de su plataforma CERIS.
CorVel (NASDAQ: CRVL)는 2025 회계연도 3분기 동안 강력한 재무 실적을 보고했습니다. 매출은 2024 회계연도 3분기의 2억 2천만 달러에서 2억 2천8백만 달러로 13% 증가했습니다. 주당 순익은 전년 대비 0.33달러에서 0.46달러로 39% 증가했습니다.
2024년 12월 31일로 종료된 9개월 동안, 매출은 6억 6천4백만 달러에 도달하여 2023년 같은 기간의 5억 8천8백만 달러에서 증가했습니다. 총수익은 25% 증가하여 5천2백9십만 달러에 이르렀으며, 총 마진은 23.2%에 도달했습니다. 이 회사는 1억 6천3백만 달러의 현금을 보유하고 있으며, 부채 없이 강력한 재무 상태를 유지하면서 이번 분기 동안 960만 달러의 보통주를 재매입했습니다.
회사는 문서 처리 및 청구 이정표 식별을 향상시키기 위해 생성적 AI 기능을 구현했으며, 통합 커뮤니케이션 플랫폼에 대한 추가 개선 계획도 세우고 있습니다. CorVel은 또한 CERIS 플랫폼을 통해 의료 비용 절감 솔루션에 대한 수요 증가를 언급했습니다.
CorVel (NASDAQ: CRVL) a annoncé de solides résultats financiers pour le troisième trimestre de l'exercice 2025. Les revenus ont augmenté de 13 % pour atteindre 228 millions de dollars, contre 202 millions de dollars au troisième trimestre de l'exercice 2024. Le bénéfice par action a augmenté de 39 % pour atteindre 0,46 dollar, contre 0,33 dollar l'année précédente.
Pour les neuf mois se terminant le 31 décembre 2024, les revenus ont atteint 664 millions de dollars, en hausse par rapport à 588 millions de dollars au cours de la même période en 2023. Le bénéfice brut a augmenté de 25 % pour atteindre 52,9 millions de dollars, réalisant une marge brute de 23,2 %. L'entreprise a maintenu une position financière solide avec 163 millions de dollars en espèces et aucune dette, tout en rachetant pour 9,6 millions de dollars d'actions ordinaires au cours du trimestre.
L'entreprise a mis en œuvre des fonctionnalités d'IA générative pour améliorer le traitement des documents et l'identification des jalons des demandes, avec des plans pour d'autres améliorations de sa plateforme de communication intégrée. CorVel a également noté une demande croissante pour des solutions d'économies de coûts médicaux via sa plateforme CERIS.
CorVel (NASDAQ: CRVL) berichtete über starke finanzielle Ergebnisse für das dritte Quartal des Geschäftsjahres 2025. Der Umsatz stieg um 13% auf 228 Millionen US-Dollar im Vergleich zu 202 Millionen US-Dollar im dritten Quartal des Geschäftsjahres 2024. Der Gewinn pro Aktie erhöhte sich um 39% auf 0,46 US-Dollar von 0,33 US-Dollar im Vorjahr.
Für die neun Monate bis zum 31. Dezember 2024 beliefen sich die Einnahmen auf 664 Millionen US-Dollar, ein Anstieg von 588 Millionen US-Dollar im selben Zeitraum 2023. Der Bruttogewinn stieg um 25% auf 52,9 Millionen US-Dollar und erzielte eine Bruttomarge von 23,2%. Das Unternehmen wies eine starke Finanzlage mit 163 Millionen US-Dollar in bar und ohne Schulden auf und kaufte im laufenden Quartal Aktien im Wert von 9,6 Millionen US-Dollar zurück.
Das Unternehmen implementierte generative KI-Funktionen, um die Dokumentenverarbeitung und die Identifizierung von Meilensteinen bei Ansprüchen zu verbessern und plant weitere Verbesserungen an seiner integrierten Kommunikationsplattform. CorVel stellte außerdem eine steigende Nachfrage nach Lösungen zur Einsparung von medizinischen Kosten über seine CERIS-Plattform fest.
- Revenue growth of 13% YoY to $228 million in Q3
- EPS increased 39% YoY to $0.46
- Gross profit up 25% to $52.9 million with 23.2% margin
- Strong cash position of $163 million with zero debt
- Active share repurchase program with $9.6 million buyback in Q3
- None.
Insights
CorVel's Q3 FY2025 results reveal impressive financial execution and strategic positioning. The 13% revenue growth to
The company's robust balance sheet, featuring
Two key strategic elements stand out: First, the weekly release cycle for technology updates demonstrates an agile development approach that's rare in the healthcare sector. The integration of generative AI for document processing and claim milestone identification positions CorVel at the forefront of industry innovation. Second, the company's CERIS platform is well-timed to capitalize on rising medical costs, as Administrative Services Only (ASO) customers seek cost containment solutions.
The combination of strong financial performance, technological advancement and strategic market positioning in the growing healthcare cost management sector suggests a sustainable competitive advantage. The focus on prepay expertise through CERIS addresses a critical market need while maintaining scalability without proportional cost increases.
FORT WORTH, Texas, Feb. 04, 2025 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended December 31, 2024. Revenues for the quarter were
Third Quarter Fiscal Year 2025 Highlights
- Revenue increased
13% to$228 million , compared to the third quarter of fiscal year 2024. - Gross profit increased
25% to$52.9 million , at23.2% gross margin, compared to the third quarter of fiscal year 2024 gross profit of$42.2 million . - Diluted earnings per share increased
39% to$0.46 , compared to the third quarter of fiscal year 2024 diluted earnings per share of$0.33 . - Exited the quarter with
$163 million cash, cash equivalents, and no borrowings. - The Company repurchased
$9.6 million of common stock during the quarter.
A key to CorVel’s success and differentiation in technological innovation is the development team’s structure, the depth and tenure of the employees, and the lack of impedance in translating business needs into the development and implementation of functioning systems. Due to the depth and strength of the IT team, system updates, and new features are released weekly, which enables rapid progress on enhancements and advancements in automation and innovation. In the December quarter, generative-AI-based functionality was released to streamline document processing and identify claim milestones, and improvements are planned to enhance the integrated communication platform. These enhancements can optimize outcomes, improve the experience of injured workers, and make day-to-day tasks easier, which allows CorVel professionals to focus on higher-level activities.
During the quarter in the healthcare market, the persistent upward trend of medical costs is causing Administrative Services Only, ASO, customers to seek additional medical savings and greater cost efficiency in claims. CERIS is ideally equipped to solve the growing demand by offering multiple audits and lowering claim thresholds. With substantial expertise in prepay, CERIS is able to accommodate ASOs and Payers with the tools needed to reduce medical spend without additional administrative overhead.
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 quarters ended June 30, 2024 and September 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 Nine Months Ended December 31, 2024 (unaudited) and December 31, 2023 (unaudited)
| Quarter Ended | December 31, 2024 | December 31, 2023 | ||||||
| Revenues | $ | 227,973,000 | $ | 202,303,000 | ||||
| Cost of revenues | 175,115,000 | 160,143,000 | ||||||
| Gross profit | 52,858,000 | 42,160,000 | ||||||
| General and administrative | 22,058,000 | 19,798,000 | ||||||
| Income from operations | 30,800,000 | 22,362,000 | ||||||
| Income tax provision | 7,029,000 | 5,267,000 | ||||||
| Net income | $ | 23,771,000 | $ | 17,095,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 0.46 | $ | 0.33 | ||||
| Diluted | $ | 0.46 | $ | 0.33 | ||||
| Weighted Shares | ||||||||
| Basic | 51,388,000 | 51,318,000 | ||||||
| Diluted | 52,038,000 | 51,978,000 | ||||||
| Nine Months Ended | December 31, 2024 | December 31, 2023 | ||||||
| Revenues | $ | 664,075,000 | $ | 588,078,000 | ||||
| Cost of revenues | 512,528,000 | 459,788,000 | ||||||
| Gross profit | 151,547,000 | 128,290,000 | ||||||
| General and administrative | 64,043,000 | 55,786,000 | ||||||
| Income from operations | 87,504,000 | 72,504,000 | ||||||
| Income tax provision | 18,758,000 | 15,706,000 | ||||||
| Net income | $ | 68,746,000 | $ | 56,798,000 | ||||
| Earnings Per Share: | ||||||||
| Basic | $ | 1.34 | $ | 1.11 | ||||
| Diluted | $ | 1.32 | $ | 1.09 | ||||
| Weighted Shares | ||||||||
| Basic | 51,384,000 | 51,372,000 | ||||||
| Diluted | 51,999,000 | 52,056,000 | ||||||
CorVel Corporation
Quarterly Results – Condensed Balance Sheet
December 31, 2024 (unaudited) and March 31, 2024
| December 31, 2024 | March 31, 2024 | |||||||
| Cash | $ | 162,944,000 | $ | 105,563,000 | ||||
| Customer deposits | 99,496,000 | 88,142,000 | ||||||
| Accounts receivable, net | 106,178,000 | 97,108,000 | ||||||
| Prepaid taxes and expenses | 14,543,000 | 11,418,000 | ||||||
| Property, net | 91,256,000 | 85,892,000 | ||||||
| Goodwill and other assets | 42,420,000 | 42,498,000 | ||||||
| Right-of-use asset, net | 21,940,000 | 24,058,000 | ||||||
| Total | $ | 538,777,000 | $ | 454,679,000 | ||||
| Accounts and taxes payable | $ | 16,630,000 | $ | 16,631,000 | ||||
| Accrued liabilities | 200,108,000 | 167,868,000 | ||||||
| Long-term lease liabilities | 21,189,000 | 22,533,000 | ||||||
| Paid-in capital | 246,698,000 | 233,632,000 | ||||||
| Treasury stock | (822,514,000 | ) | (793,905,000 | ) | ||||
| Retained earnings | 876,666,000 | 807,920,000 | ||||||
| Total | $ | 538,777,000 | $ | 454,679,000 | ||||
| Contact: Melissa Storan |
| Phone: 949-851-1473 |
| www.corvel.com |
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