Filing Flows › Corvel (CRVL) › Q3 FY26
Corvel (CRVL) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 5, 2026
Corvel (CRVL) reported revenue of $236M for the third quarter fiscal 2026 (Q3 FY26), +3% from a year earlier and -2% from the quarter before. Operating margin was 13.7%, net earnings $24.2M (10.3% of revenue).
Corvel, Q3 FY26: revenue $236M (+3% year over year), operating margin 13.7%, net earnings $24.2M, operating cash flow $46.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $236M | -2% | +3% |
| Gross profit | $54.9M | -6% | +4% |
| Operating profit | $32.2M | -10% | +5% |
| Net earnings | $24.2M | -13% | +2% |
| Operating cash flow | $46.1M | +84% | +11% |
| Free cash flow | $35.2M | +130% | +10% |
What changed
Revenue was $235.6M in Q3 FY26, up 3% year over year and down 2% from the previous quarter. Patient Management Services was the largest line at 62% of revenue. Network Solutions Services added $7.5M year over year (up 9%), 97% of the total change.
Gross margin was 23.3%, up 0.1 points from a year earlier. Operating profit was $32.2M, a 13.7% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 19% reached operating profit, above the 14% margin then. Operating expenses grew 3% against revenue growth of 3%. Net earnings were $24.2M, up 2% year over year. The effective tax rate was 25.0%.
Operating cash flow was $46.1M (up 11% year over year), 191% of net earnings. Non-cash charges added back $8.1M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $12.5M. Capital expenditures of $11.0M left free cash flow of $35.2M.
Questions
What was Corvel's revenue in the third quarter fiscal 2026?
Corvel (CRVL) reported revenue of $236M for the third quarter fiscal 2026 (Q3 FY26), +3% from a year earlier and -2% from the quarter before.
Was Corvel profitable in the third quarter fiscal 2026?
Operating profit was $32.2M (13.7% of revenue) and net earnings $24.2M.
Source: Corvel 10-Q on SEC EDGAR.