CorVel (CRVL) Q2 2026 earnings summary

Executive summary

• Quarterly revenue rose 7% year-over-year to $240 million, driven by network solutions and organic growth.

• Diluted EPS increased 20% to $0.54, adjusted for a three-for-one stock split.

• Net income for the quarter was $28 million, up from $23 million in the prior year.

• Company completed a technology acquisition to enhance bill review and AI initiatives.

• Investments in workforce development and AI-driven operational enhancements continue.

Financial highlights

• Gross profit for the quarter was $58.2 million, up 15% year-over-year, with gross margin improving to 24.3%.

• Net income for the quarter reached $27.9 million, with six-month net income at $55.1 million.

• Quarter-ending cash balance stood at $207 million, with no borrowings.

• Day sales outstanding improved to 40 days, a two-day reduction year-over-year.

• General and administrative expenses were $22.3 million, representing 9.3% of revenue.

Outlook and guidance

• Continued focus on leveraging AI and automation to drive operational efficiency and partner savings.

• Expansion of offerings and technological capabilities through organic growth and targeted M&A.

• Management expects G&A expenses to remain between 9% and 11% of revenues.

• Current cash and cash flow from operations expected to fund growth and obligations for at least 12 months.

• Forward-looking statements are subject to risks, including labor market and technology adoption.