Filing Flows › Corvel (CRVL) › Q2 FY27
Corvel (CRVL) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Nov 5, 2026
Corvel (CRVL) reported revenue of $267M for the second quarter fiscal 2027 (Q2 FY27), +11% from a year earlier and +3% from the quarter before. Operating margin was 17.2%, net earnings $34.1M (12.8% of revenue).
Corvel, Q2 FY27: revenue $267M (+12% year over year), operating margin 17.2%, net earnings $34.1M, operating cash flow $39.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $267M | +3% | +11% |
| Gross profit | $72.3M | +7% | +24% |
| Operating profit | $45.8M | +6% | +28% |
| Net earnings | $34.1M | +6% | +22% |
| Operating cash flow | $39.6M | -21% | +58% |
| Free cash flow | $29.3M | -32% | +92% |
What changed
Revenue was $267.1M in Q2 FY27, up 11% year over year and up 3% from the previous quarter. Patient Management Services was the largest line at 63% of revenue. Patient Management Services added $16.8M year over year (up 11%), 61% of the total change.
Gross margin was 27.1%, up 2.8 points from Q2 FY26. Operating profit was $45.8M, a 17.2% margin (up 2.2 points year over year). Of the extra revenue versus Q2 FY26, 36% reached operating profit, above the 15% margin then. Operating expenses grew 19% against revenue growth of 11%. Net earnings were $34.1M, up 22% year over year. The effective tax rate was 25.6%.
Operating cash flow was $39.6M (up 58% year over year), 116% of net earnings. Non-cash charges added back $9.2M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $4.9M. Capital expenditures of $10.3M left free cash flow of $29.3M.
Questions
What was Corvel's revenue in the second quarter fiscal 2027?
Corvel (CRVL) reported revenue of $267M for the second quarter fiscal 2027 (Q2 FY27), +11% from a year earlier and +3% from the quarter before.
Was Corvel profitable in the second quarter fiscal 2027?
Operating profit was $45.8M (17.2% of revenue) and net earnings $34.1M.
Source: Corvel 10-Q on SEC EDGAR.