$CRVL

CORVEL CORP

CIK:0000874866|SEC Filings

Consolidated Income Statements - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
REVENUES	$ 259,925	$ 234,711
Cost of revenues	192,131	177,950
Gross profit	67,794	56,761
General and administrative expenses	24,453	21,478
Income before income tax provision	43,341	35,283
Income tax provision	11,116	8,048
NET INCOME	$ 32,225	$ 27,235
Net income per common and common equivalent share
Basic	$ 0.63	$ 0.53
Diluted	$ 0.63	$ 0.52
Weighted average common and common equivalent shares
Basic	50,804,000	51,352,000
Diluted	50,928,000	51,912,000

Consolidated Statements of Cash Flows - (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
NET INCOME	$ 32,225,000	$ 27,235,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,762,000	7,587,000
Loss on write down or disposal of property, capitalized software or investment	2,000	17,000
Stock-based compensation expense	1,360,000	1,417,000
Provision for expected credit losses	426,000	192,000
Deferred income tax	(340,000)	(355,000)
Changes in operating assets and liabilities
Accounts receivable	(10,110,000)	1,959,000
Customer deposits	(11,344,000)	(6,666,000)
Prepaid taxes and expenses	1,355,000	1,021,000
Other assets	(551,000)	(56,000)
Accounts and taxes payable	1,143,000	5,410,000
Accrued liabilities	26,452,000	17,288,000
Operating leases, net	541,000	(38,000)
Net cash provided by operating activities	49,921,000	55,011,000
Cash Flows from Investing Activities
Purchase of property and equipment	(6,836,000)	(15,463,000)
Net cash used in investing activities	(6,836,000)	(15,463,000)
Cash Flows from Financing Activities
Purchase of treasury stock	(21,968,000)	(9,617,000)
Proceeds from exercise of common stock options	1,694,000	1,510,000
Net cash used in financing activities	(20,274,000)	(8,107,000)
Increase in cash and cash equivalents	22,811,000	31,441,000
Cash and cash equivalents at beginning of period	233,072,000	170,584,000
Cash and cash equivalents at end of period	255,883,000	202,025,000
Supplemental Cash Flow Information:
Income taxes paid	548,000	530,000
Purchase of software license under finance agreement	4,393,000	8,485,000
Asset acquisition	$ 1,350,000	$ 0

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Mar. 31, 2026
Current Assets
Cash and cash equivalents	$ 255,883,000	$ 233,072,000
Customer deposits	127,050,000	115,706,000
Accounts receivable, net	110,997,000	101,313,000
Prepaid taxes and expenses	10,851,000	12,206,000
Total current assets	504,781,000	462,297,000
Property and equipment, net	121,764,000	117,906,000
Goodwill	36,814,000	36,814,000
Other intangibles, net	219,000	263,000
Right-of-use asset, net	20,723,000	21,164,000
Deferred tax asset, net	4,264,000	3,924,000
Other assets	1,170,000	618,000
TOTAL ASSETS	689,735,000	642,986,000
Current Liabilities
Accounts and taxes payable	30,086,000	24,550,000
Accrued liabilities	229,970,000	203,518,000
Total current liabilities	260,056,000	228,068,000
Long-term lease liabilities	20,787,000	20,687,000
Total liabilities	280,843,000	248,755,000
Commitments and contingencies
Stockholders' Equity
Common stock, $0.0001 par value: 360,000,000 shares authorized at June 30, 2026 and March 31, 2026; 166,232,817 shares issued (50,596,284 shares outstanding, net of Treasury shares) and 166,168,732 shares issued (50,909,297 shares outstanding, net of Treasury shares) at June 30, 2026 and March 31, 2026, respectively	5,000	5,000
Paid-in capital	272,917,000	268,513,000
Treasury stock (115,636,533 shares at June 30, 2026 and 115,259,435 shares at March 31, 2026)	(909,684,000)	(887,716,000)
Retained earnings	1,045,654,000	1,013,429,000
Total stockholders' equity	408,892,000	394,231,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 689,735,000	$ 642,986,000