Filing Flows › Corvel (CRVL) › Q1 FY27 › vs Q4 FY26
Corvel (CRVL) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Corvel's revenue rose $11.4M (+5%) from $249M in Q4 FY26 to $260M in Q1 FY27. The biggest changes: Patient Management Services +$6.2M (+4%); Network Solutions Services +$5.2M (+5%). Gross margin 26.1% against 25.4% (+0.7 pts).
Corvel, Q1 FY27: revenue $260M (+11% year over year), operating margin 16.7%, net earnings $32.2M, operating cash flow $49.9M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 26.1% | 25.4% | +0.7 pts |
| Operating margin | 16.7% | 16.0% | +0.7 pts |
| Net margin | 12.4% | 12.5% | -0.1 pts |
| Free cash flow margin | 16.6% | 8.2% | +8.4 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Patient Management Services | $159M | $153M | $6.2M | +4% |
| Network Solutions Services | $101M | $95.5M | $5.2M | +5% |
| Revenue | $260M | $249M | $11.4M | +5% |
| Gross profit | $67.8M | $63.0M | $4.8M | +8% |
| Cost of revenue | $192M | $186M | $6.6M | +4% |
| Operating profit | $43.3M | $39.7M | $3.6M | +9% |
| Operating expenses | $24.5M | $23.3M | $1.2M | +5% |
| Pre-tax earnings | $43.3M | $39.7M | $3.6M | +9% |
| Net earnings | $32.2M | $31.0M | $1.2M | +4% |
| Income tax | $11.1M | $8.7M | $2.4M | +28% |
| Depreciation & amortization | $8.8M | $8.3M | $497K | +6% |
| Share-based compensation | $1.4M | $1.2M | $126K | +10% |
| Working capital & other | $7.6M | −$11.1M | $18.6M | — |
| Operating cash flow | $49.9M | $29.5M | $20.5M | +69% |
| Free cash flow (OCF − capex) | $43.1M | $20.3M | $22.8M | +112% |
| Capital expenditures | $6.8M | $9.2M | −$2.3M | -25% |
Questions
How much did Corvel's revenue grow quarter over quarter in Q1 FY27?
Corvel's revenue rose $11.4M (+5%) from $249M in Q4 FY26 to $260M in Q1 FY27.
What drove Corvel's revenue change in Q1 FY27?
Patient Management Services +$6.2M (+4%); Network Solutions Services +$5.2M (+5%).