Filing Flows › Corvel (CRVL) › Q1 FY27
Corvel (CRVL) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Aug 6, 2026
Corvel (CRVL) reported revenue of $260M for the first quarter fiscal 2027 (Q1 FY27), +11% from a year earlier and +5% from the quarter before. Operating margin was 16.7%, net earnings $32.2M (12.4% of revenue).
Corvel, Q1 FY27: revenue $260M (+11% year over year), operating margin 16.7%, net earnings $32.2M, operating cash flow $49.9M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $260M | +5% | +11% |
| Gross profit | $67.8M | +8% | +19% |
| Operating profit | $43.3M | +9% | +23% |
| Net earnings | $32.2M | +4% | +18% |
| Operating cash flow | $49.9M | +69% | -9% |
| Free cash flow | $43.1M | +112% | +9% |
What changed
Revenue was $259.9M in Q1 FY27, up 11% year over year and up 5% from the previous quarter. Patient Management Services was the largest line at 61% of revenue. Network Solutions Services added $12.7M year over year (up 14%), 50% of the total change.
Gross margin was 26.1%, up 1.9 points from Q1 FY26. Operating profit was $43.3M, a 16.7% margin (up 1.6 points year over year). Of the extra revenue versus Q1 FY26, 32% reached operating profit, above the 15% margin then. Operating expenses grew 14% against revenue growth of 11%. Net earnings were $32.2M, up 18% year over year. The effective tax rate was 25.6%.
Operating cash flow was $49.9M (down 9% year over year), 155% of net earnings. Non-cash charges added back $8.8M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $7.6M. Capital expenditures of $6.8M left free cash flow of $43.1M.
Questions
What was Corvel's revenue in the first quarter fiscal 2027?
Corvel (CRVL) reported revenue of $260M for the first quarter fiscal 2027 (Q1 FY27), +11% from a year earlier and +5% from the quarter before.
Was Corvel profitable in the first quarter fiscal 2027?
Operating profit was $43.3M (16.7% of revenue) and net earnings $32.2M.
Source: Corvel 10-Q on SEC EDGAR.