Filing Flows › Corvel (CRVL) › Q4 FY26
Corvel (CRVL) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed May 22, 2026
Corvel (CRVL) reported revenue of $249M for the fourth quarter fiscal 2026 (Q4 FY26), +7% from a year earlier and +5% from the quarter before. Operating margin was 16.0%, net earnings $31.0M (12.5% of revenue).
Corvel, Q4 FY26: revenue $249M (+7% year over year), operating margin 16.0%, net earnings $31.0M, operating cash flow $29.5M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $249M | +5% | +7% |
| Gross profit | $63.0M | +15% | +8% |
| Operating profit | $39.7M | +23% | +19% |
| Net earnings | $31.0M | +28% | +17% |
| Operating cash flow | $29.5M | -36% | +29% |
| Free cash flow | $20.3M | -42% | +42% |
What changed
Revenue was $248.5M in Q4 FY26, up 7% year over year and up 5% from the previous quarter. Patient Management Services was the largest line at 62% of revenue.
Gross margin was 25.4%, up 0.2 points from Q4 FY25. Operating profit was $39.7M, a 16.0% margin (up 1.6 points year over year). Of the extra revenue versus Q4 FY25, 38% reached operating profit, above the 14% margin then. Operating expenses fell 6% while revenue rose 7%. Net earnings were $31.0M, up 17% year over year. The effective tax rate was 21.9%.
Operating cash flow was $29.5M (up 29% year over year), 95% of net earnings. Non-cash charges added back $8.3M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $11.1M. Capital expenditures of $9.2M left free cash flow of $20.3M.
Questions
What was Corvel's revenue in the fourth quarter fiscal 2026?
Corvel (CRVL) reported revenue of $249M for the fourth quarter fiscal 2026 (Q4 FY26), +7% from a year earlier and +5% from the quarter before.
Was Corvel profitable in the fourth quarter fiscal 2026?
Operating profit was $39.7M (16.0% of revenue) and net earnings $31.0M.
Source: Corvel 10-K on SEC EDGAR.