CorVel Corp Files Q3 2025 10-Q

TL;DR

CorVel's Q3 10-Q is in, check the financials for latest performance.

AI Summary

CorVel Corp filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operational updates for the third quarter of fiscal year 2025. Key financial data and disclosures related to liabilities, equity, and expenses are presented, reflecting the company's ongoing business activities.

Why It Matters

This filing provides investors and analysts with the latest financial snapshot of CorVel Corp, crucial for understanding the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter are not directly extracted in this summary.)
• N/A — Net Income (Specific net income figures for the quarter are not directly extracted in this summary.)
• N/A — Earnings Per Share (Specific EPS figures for the quarter are not directly extracted in this summary.)

Key Players & Entities

• CORVEL CORP (company) — Filer
• 20241231 (date) — Report Period End Date
• 20250206 (date) — Filing Date
• 9498511473 (dollar_amount) — Business Phone Number
• 2010 MAIN STREE (location) — Business Address Street 1
• IRVINE (location) — Business Address City
• CA (location) — Business Address State
• 92614 (location) — Business Address Zip Code

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, Par Value $0.0001 Per Share CRVL The Nasdaq Global Se

Filing Documents

• crvl-20241231.htm (10-Q) — 1989KB
• crvl-ex31_1.htm (EX-31.1) — 11KB
• crvl-ex31_2.htm (EX-31.2) — 11KB
• crvl-ex32_1.htm (EX-32.1) — 8KB
• crvl-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-25-015439.txt ( ) — 7153KB
• crvl-20241231.xsd (EX-101.SCH) — 728KB
• crvl-20241231_htm.xml (XML) — 1429KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets – December 31, 2024 (unaudited) and March 31, 2024 3 Consolidated Income Statements (unaudited) – Three months ended December 31, 2024 and 2023 4 Consolidated Income Statements (unaudited) – Nine months ended December 31, 2024 and 2023 6 Consolidated Statements of Stockholders' Equity (unaudited) – Three and nine months ended December 31, 2024 and 202 3 6 Consolidated Statements of Cash Flows (unaudited) – Nine months ended December 31, 2024 and 2023 7

Notes to Consolidated Financial Statements (unaudited) – December 31, 2024

Notes to Consolidated Financial Statements (unaudited) – December 31, 2024 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

Signatures

Signatures 38 Page 2

– FINANC IAL INFORMATION

PART I – FINANC IAL INFORMATION

– F I NANCIAL STATEMENTS

ITEM 1 – F I NANCIAL STATEMENTS CORVEL CORPORATION Consolidated B alance Sheets December 31, 2024 March 31, 2024 (Unaudited) Assets Current Assets Cash and cash equivalents $ 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 Total current assets 383,161,000 302,231,000 Property and equipment, net 91,256,000 85,892,000 Goodwill 36,814,000 36,814,000 Other intangibles, net 505,000 821,000 Right-of-use asset, net 21,940,000 24,058,000 Deferred tax asset, net 4,639,000 3,545,000 Other assets 462,000 1,318,000 TOTAL ASSETS $ 538,777,000 $ 454,679,000 Liabilities and Stockholders' Equity Current Liabilities Accounts and taxes payable $ 16,630,000 $ 16,631,000 Accrued liabilities 200,108,000 167,868,000 Total current liabilities 216,738,000 184,499,000 Long-term lease liabilities 21,189,000 22,533,000 Total liabilities 237,927,000 207,032,000 Commitments and contingencies Stockholders' Equity Common stock, $ .0001 par value: 360,000,000 shares authorized at December 31, 2024 and March 31, 2024; 165,763,203 shares issued ( 51,367,173 shares outstanding, net of Treasury shares) and 165,486,225 shares issued ( 51,386,688 shares outstanding, net of Treasury shares) at December 31, 2024 and March 31, 2024, respectively 5,000 3,000 Paid-in capital 246,693,000 233,629,000 Treasury stock ( 114,396,030 shares at December 31, 2024 and 114,099,537 shares at March 31, 2024) ( 822,514,000 ) ( 793,905,000 ) Retained earnings 876,666,000 807,920,000 Total stockholders' equity 300,850,000 247,647,000 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 538,777,000 $ 454,679,000 See accompanying notes to unaudited consolidated financial statements. Page 3 CORVEL CORPORATION Consolidated Income S t ate

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements December 31, 2024 Note 1 — Summary of Significant Accounting Policies Basis of Presentation: The unaudited consolidated financial statements include the accounts of CorVel Corporation and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited consolidated financial statements herein have been prepared by CorVel Corporation (the "Company", "we", "our", or "us") pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC"). The accompanying interim unaudited consolidated financial statements have been prepared under the presumption that users of the interim financial information have either read or have access to the audited consolidated financial statements for the latest fiscal year ended March 31, 2024. Accordingly, note disclosures which would substantially duplicate the disclosures contained in the March 31, 2024 audited consolidated financial statements have been omitted from these interim unaudited consolidated financial statements. The Company evaluated all subsequent events and transactions through the date of filing this report. Certain information and note disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and nine months ended December 31, 2024, are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. For further information, refer to the audited consolidated financial statements and notes thereto for the fiscal year ended March 31, 2024 , included in the Company's Annual Report on Form 10-K filed with the SEC on May 24, 2024. Forward Stock

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View this 10-Q filing on SEC EDGAR