Form 8-K
8-K — CORVEL CORP
Accession: 0001193125-26-333384
Filed: 2026-08-05
Period: 2026-08-05
CIK: 0000874866
SIC: 6411 (INSURANCE AGENTS BROKERS & SERVICES)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — crvl-20260805.htm (Primary)
EX-99.1 (crvl-ex99_1.htm)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: crvl-20260805.htm · Sequence: 1
8-K
false0000874866CORVEL CORPORATION00008748662026-08-052026-08-05
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 05, 2026
CORVEL CORPORATION
(Exact name of Registrant as Specified in Its Charter)
Delaware
000-19291
33-0282651
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
5128 Apache Plume Road
Suite 400
Fort Worth, Texas
76109
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s Telephone Number, Including Area Code: (817) 390-1416
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common Stock, Par Value $0.0001 Per Share
CRVL
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 5, 2026, CorVel Corporation (the "Company") issued a press release announcing its financial results for the three months ended June 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.
The information contained in this Item 2.02 and in the exhibit attached to this report as Exhibit 99.1 is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, or incorporated by reference in any filing of the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Description
99.1
Press Release, dated August 5, 2026, announcing CorVel Corporation’s financial results for the three months ended June 30, 2026 (furnished herewith but not filed pursuant to Item 2.02).
104
Cover Page Interactive Data file (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CORVEL CORPORATION,
a Delaware corporation
(Registrant)
Date:
August 5, 2026
By:
/s/ Brian S. Nichols
Brian S. Nichols
Chief Financial Officer
EX-99.1
EX-99.1
Filename: crvl-ex99_1.htm · Sequence: 2
EX-99.1
Exhibit 99.1
Date: August 5, 2026
CorVel Corporation
5128 Apache Plume Road
Suite 400
Fort Worth, TX 76109
FOR IMMEDIATE RELEASE
Contact: Melissa Storan
Phone: 949-851-1473
www.corvel.com
CorVel Announces Revenues and Earnings
FORT WORTH, Texas, August 5, 2026 — CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended June 30, 2026. Revenues for the quarter were $260 million, an increase from $235 million in the June quarter of 2025. Earnings per share for the quarter were $0.63, compared to $0.52 in the same quarter of the prior year.
First Quarter Fiscal Year 2027 Highlights
•
Revenue increased 11% to $260 million, compared to first quarter of fiscal year 2026.
•
Gross profit increased 19% to $67.8 million, at 26% gross margin, compared to first quarter of fiscal year 2026 gross profit of $56.8 million.
•
Diluted earnings per share increased 21% to $0.63, compared to first quarter of fiscal year 2026 diluted earnings per share of $0.52.
•
The Company exited the quarter with $256 million of cash, cash equivalents, and no borrowings.
•
The Company repurchased $21.8 million of common stock during the quarter.
During the quarter, CorVel marked the 35th anniversary of its Nasdaq listing by ringing the opening bell with members of its executive leadership team. The milestone reflects the Company's long-standing commitment to disciplined execution, prudent capital management, and sustained investment in innovation, all of which have supported more than three decades of consistent growth and long-term value creation for clients and shareholders.
In addition, the Company expanded its support for workers’ compensation and liability clients through the introduction of Executive Advisory Services. By combining operational expertise, analytics, benchmarking, and technology, the offering provides clients with actionable insights to reduce costs, improve program performance, and achieve better outcomes while strengthening long-term strategic partnerships.
CERIS broadened its payment integrity capabilities through new client implementations and targeted investments designed to improve payment accuracy and help health plans address increasing cost and regulatory pressures. Across both Patient Management and Network Solutions, CorVel remains focused on delivering measurable value by combining deep operational expertise with advanced technology and data-driven insights.
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 payment accuracy and reducing costs, improving program performance and achieving better outcomes with operational expertise combined with advanced technology. 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. 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,
2026, and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2025, September 30, 2025, and December 31, 2025. 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 Ended June 30, 2026 (unaudited) and June 30, 2025 (unaudited)
Quarter Ended
June 30, 2026
June 30, 2025
Revenues
$
259,925,000
$
234,711,000
Cost of revenues
192,131,000
177,950,000
Gross profit
67,794,000
56,761,000
General and administrative
24,453,000
21,478,000
Income from operations
43,341,000
35,283,000
Income tax provision
11,116,000
8,048,000
Net income
$
32,225,000
$
27,235,000
Earnings Per Share:
Basic
$
0.63
$
0.53
Diluted
$
0.63
$
0.52
Weighted Shares
Basic
50,804,000
51,352,000
Diluted
50,928,000
51,912,000
CorVel Corporation
Quarterly Results – Condensed Balance Sheet
June 30, 2026 (unaudited) and March 31, 2026
June 30, 2026
March 31, 2026
Cash
$
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
Property, net
121,764,000
117,906,000
Goodwill and other assets
42,467,000
41,619,000
Right-of-use asset, net
20,723,000
21,146,000
Total
$
689,735,000
$
642,968,000
Accounts and taxes payable
$
30,086,000
$
24,550,000
Accrued liabilities
229,970,000
203,518,000
Long-term lease liabilities
20,787,000
20,687,000
Paid-in capital
272,922,000
268,518,000
Treasury stock
(909,684,000
)
(887,716,000
)
Retained earnings
1,045,654,000
1,013,429,000
Total
$
689,735,000
$
642,986,000
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