Filing Flows › Corvel (CRVL) › Q4 FY25
Corvel (CRVL) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed May 23, 2025
Corvel (CRVL) reported revenue of $232M for the fourth quarter fiscal 2025 (Q4 FY25), +12% from a year earlier and +2% from the quarter before. Operating margin was 14.4%, net earnings $26.4M (11.4% of revenue).
Corvel, Q4 FY25: revenue $232M (+12% year over year), operating margin 14.4%, net earnings $26.4M, operating cash flow $22.9M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $232M | +2% | +12% |
| Gross profit | $58.2M | +10% | +34% |
| Operating profit | $33.3M | +8% | +47% |
| Net earnings | $26.4M | +11% | +36% |
| Operating cash flow | $22.9M | -45% | +50% |
| Free cash flow | $14.3M | -56% | +174% |
What changed
Revenue was $231.5M in Q4 FY25, up 12% year over year and up 2% from the previous quarter. Patient Management Services was the largest line at 64% of revenue.
Gross margin was 25.1%, up 4.2 points from a year earlier. Operating profit was $33.3M, a 14.4% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 44% reached operating profit, above the 11% margin then. Operating expenses grew 19% against revenue growth of 12%. Net earnings were $26.4M, up 36% year over year. The effective tax rate was 20.7%.
Operating cash flow was $22.9M (up 50% year over year), 87% of net earnings. Non-cash charges added back $7.6M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $12.4M. Capital expenditures of $8.7M left free cash flow of $14.3M.
Questions
What was Corvel's revenue in the fourth quarter fiscal 2025?
Corvel (CRVL) reported revenue of $232M for the fourth quarter fiscal 2025 (Q4 FY25), +12% from a year earlier and +2% from the quarter before.
Was Corvel profitable in the fourth quarter fiscal 2025?
Operating profit was $33.3M (14.4% of revenue) and net earnings $26.4M.
Source: Corvel 10-K on SEC EDGAR.