Filing Flows › Corvel (CRVL) › Q2 FY27 › vs Q1 FY27
Corvel (CRVL) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Corvel's revenue rose $7.2M (+3%) from $260M in Q1 FY27 to $267M in Q2 FY27. The biggest changes: Patient Management Services +$8.3M (+5%); Network Solutions Services −$1.1M (-1%). Gross margin 27.1% against 26.1% (+1.0 pts).
Corvel, Q2 FY27: revenue $267M (+12% year over year), operating margin 17.2%, net earnings $34.1M, operating cash flow $39.6M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 27.1% | 26.1% | +1.0 pts |
| Operating margin | 17.2% | 16.7% | +0.5 pts |
| Net margin | 12.8% | 12.4% | +0.4 pts |
| Free cash flow margin | 11.0% | 16.6% | -5.6 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Patient Management Services | $168M | $159M | $8.3M | +5% |
| Network Solutions Services | $99.5M | $101M | −$1.1M | -1% |
| Revenue | $267M | $260M | $7.2M | +3% |
| Gross profit | $72.3M | $67.8M | $4.5M | +7% |
| Cost of revenue | $195M | $192M | $2.7M | +1% |
| Operating profit | $45.8M | $43.3M | $2.5M | +6% |
| Operating expenses | $26.5M | $24.5M | $2.0M | +8% |
| Pre-tax earnings | $45.8M | $43.3M | $2.5M | +6% |
| Net earnings | $34.1M | $32.2M | $1.9M | +6% |
| Income tax | $11.8M | $11.1M | $642K | +6% |
| Depreciation & amortization | $9.2M | $8.8M | $418K | +5% |
| Share-based compensation | $1.2M | $1.4M | −$135K | -10% |
| Working capital & other | $4.9M | −$7.6M | $12.5M | — |
| Operating cash flow | $39.6M | $49.9M | −$10.3M | -21% |
| Free cash flow (OCF − capex) | $29.3M | $43.1M | −$13.8M | -32% |
| Capital expenditures | $10.3M | $6.8M | $3.5M | +51% |
Questions
How much did Corvel's revenue grow quarter over quarter in Q2 FY27?
Corvel's revenue rose $7.2M (+3%) from $260M in Q1 FY27 to $267M in Q2 FY27.
What drove Corvel's revenue change in Q2 FY27?
Patient Management Services +$8.3M (+5%); Network Solutions Services −$1.1M (-1%).