CorVel profit climbs 17% for fiscal year 2026 on health tech demand

CorVel (NASDAQ:CRDL) reported its financial results for the fourth quarter and fiscal year ended March 31, 2026, delivering top-line expansion and a double-digit increase in earnings per share as investments in artificial intelligence and automation optimized clinical workflows.

For the full fiscal year 2026, the risk management and care tech company generated total revenues of $959 million, marking a 7% increase from the $896 million reported in fiscal year 2025.

Full-year net earnings per share advanced 17% to $2.14, up from $1.83 in the previous fiscal year.

Fourth-quarter performance mirrored the annual expansion trajectory.

Revenues for the three-month period grew 7% year-over-year to reach $249 million.

Quarterly gross profit advanced 9% to $63 million, yielding a gross margin of 25%.

Driven by these gains, fourth-quarter earnings per share rose 20% to $0.61, compared to $0.51 in the corresponding period of the prior year.

Operationally, growth was sustained by solid volume trends across CorVel’s primary business units.

Demand surged for its CERIS health division, which provides prepayment accuracy and commercial health payment integrity solutions, alongside consistent client expansion in its Property & Casualty (P&C) workers' compensation segment.

Management attributed the margin durability to scalable proprietary platforms that integrate agentic AI, digital supervisory tools, and telemedicine services to control claims processing costs.

CorVel closed out the fiscal year with a liquid balance sheet, reporting $233 million in cash, cash equivalents, and zero outstanding debt obligations.

Capital allocation during the quarter included the deployment of $20.1 million toward the repurchase of common stock, continuing the company's long-term program to optimize share structure and return capital to equity holders.