CORVEL CORP (CRVL) financial statements: income statement, balance sheet and cash flow
CORVEL CORP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), CORVEL CORP reported revenue of $958.5M (+7.0% year on year) and net income of $110.3M (+16.0% year on year).
Income statement
CORVEL CORP income statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Revenues
$958.5M
$895.6M
$795.3M
$718.6M
Cost of revenues
$725.7M
$685.9M
$623.6M
$560.3M
Gross profit
$232.9M
$209.7M
$171.7M
$158.3M
General and administrative
$89.7M
$88.9M
$76.6M
$73.7M
Income before income taxes
$143.1M
$120.8M
$95.1M
$84.6M
Income tax provision
$32.8M
$25.7M
$18.8M
$18.2M
Net income
$110.3M
$95.2M
$76.3M
$66.4M
Basic
$2.15
$1.85
$4.45
$3.83
Diluted
$2.14
$1.83
$4.40
$3.77
Basic
51.3M
51.4M
17.1M
17.3M
Diluted
51.6M
52.0M
17.3M
17.6M
CORVEL CORP income statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · Q3
Sep 30, 2025 · Q2
Jun 30, 2025 · Q1
REVENUES
$259.9M
$235.6M
$239.6M
$234.7M
Cost of revenues
$192.1M
$180.7M
$181.5M
$177.9M
Gross profit
$67.8M
$54.9M
$58.2M
$56.8M
General and administrative expenses
$24.5M
$22.7M
$22.3M
$21.5M
Income before income tax provision
$43.3M
$32.2M
$35.9M
$35.3M
Income tax provision
$11.1M
$8.1M
$8.0M
$8.0M
NET INCOME
$32.2M
$24.2M
$27.9M
$27.2M
Basic
$0.63
$0.47
$0.54
$0.53
Diluted
$0.63
$0.47
$0.54
$0.52
Basic
50.8M
51.3M
51.3M
51.4M
Diluted
50.9M
51.6M
51.7M
51.9M
Balance sheet
CORVEL CORP balance sheet, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Cash and cash equivalents
$233.1M
$170.6M
$105.6M
$71.3M
Customer deposits
$115.7M
$101.5M
$88.1M
$80.0M
Accounts receivable (less allowance for expected credit losses of $3,969,000 at March 31, 2026 and $7,690,000 at March 31, 2025)
$101.3M
$104.1M
$97.1M
$81.0M
Prepaid expenses and income taxes
$12.2M
$10.5M
$11.4M
$11.4M
Total current assets
$462.3M
$386.7M
$302.2M
$243.8M
Property and equipment, net
$117.9M
$92.1M
$85.9M
$82.8M
Goodwill
$36.8M
$36.8M
$36.8M
$36.8M
Other intangible assets, net
$263.0K
$438.0K
$821.0K
$1.2M
Right-of-use asset, net
$21.2M
$20.8M
$24.1M
$27.7M
Deferred tax asset, net
$3.9M
$8.7M
$3.5M
$224.0K
Other assets
$618.0K
$454.0K
$1.3M
$1.4M
Total assets
$643.0M
$546.0M
$454.7M
$393.9M
Accounts and income taxes payable
$24.6M
$16.8M
$16.6M
$15.3M
Accrued liabilities
$203.5M
$187.2M
$167.9M
$152.6M
Total current liabilities
$228.1M
$204.0M
$184.5M
$167.9M
Long-term lease liabilities
$20.7M
$20.0M
$22.5M
$23.9M
Total liabilities
$248.8M
$224.0M
$207.0M
$191.7M
Common stock, $.0001 par value: 360,000,000 shares authorized at March 31, 2026 and 2025; 166,168,732 shares issued (50,909,297 shares outstanding, net of treasury shares) and 165,836,235 shares issued (51,359,544 shares outstanding, net of treasury shares) at March 31, 2026 and March 31, 2025, respectively
5.0K
5.0K
3.0K
3.0K
Paid-in-capital
$268.5M
$250.4M
$233.6M
$218.7M
Treasury stock, at cost (115,259,435 and 114,476,691 shares at March 31, 2026 and 2025, respectively)
-887.7M
-831.5M
-793.9M
-748.2M
Retained earnings
$1.0B
$903.1M
$807.9M
$731.7M
Total stockholders' equity
$394.2M
$322.0M
$247.6M
$202.2M
Total liabilities and stockholders' equity
$643.0M
$546.0M
$454.7M
$393.9M
CORVEL CORP balance sheet, quarters
Line item
Jun 30, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$255.9M
$230.0M
$207.5M
$202.0M
Customer deposits
$127.0M
$115.4M
$112.3M
$108.1M
Accounts receivable, net
$111.0M
$102.1M
$104.9M
$102.0M
Prepaid taxes and expenses
$10.9M
$16.4M
$9.6M
$9.5M
Total current assets
$504.8M
$463.9M
$434.3M
$421.6M
Property and equipment, net
$121.8M
$114.1M
$111.2M
$108.4M
Goodwill
$36.8M
$36.8M
$36.8M
$36.8M
Other intangibles, net
$219.0K
$307.0K
$350.0K
$394.0K
Right-of-use asset, net
$20.7M
$19.4M
$19.2M
$20.6M
Deferred tax asset, net
$4.3M
$9.7M
$9.4M
$9.1M
Other assets
$1.2M
$423.0K
$490.0K
$512.0K
TOTAL ASSETS
$689.7M
$644.8M
$611.7M
$597.4M
Accounts and taxes payable
$30.1M
$30.0M
$23.1M
$30.7M
Accrued liabilities
$230.0M
$220.4M
$207.2M
$204.5M
Total current liabilities
$260.1M
$250.4M
$230.3M
$235.2M
Long-term lease liabilities
$20.8M
$18.6M
$18.6M
$19.7M
Total liabilities
$280.8M
$269.1M
$248.9M
$254.9M
Common stock, $0.0001 par value: 360,000,000 shares authorized at June 30, 2026 and March 31, 2026; 166,232,817 shares issued (50,596,284 shares outstanding, net of Treasury shares) and 166,168,732 shares issued (50,909,297 shares outstanding, net of Treasury shares) at June 30, 2026 and March 31, 2026, respectively
5.0K
5.0K
5.0K
5.0K
Paid-in capital
$272.9M
$260.8M
$258.5M
$253.3M
Treasury stock (115,636,533 shares at June 30, 2026 and 115,259,435 shares at March 31, 2026)
-909.7M
-867.5M
-854.0M
-841.1M
Retained earnings
$1.0B
$982.4M
$958.2M
$930.3M
Total stockholders' equity
$408.9M
$375.7M
$362.8M
$342.5M
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$689.7M
$644.8M
$611.7M
$597.4M
Cash flow statement
CORVEL CORP cash flow statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net income
$110.3M
$95.2M
$76.3M
$66.4M
Depreciation and amortization
$31.8M
$29.5M
$26.3M
$25.1M
Loss on write down or disposal of property, capitalized software or investment
$710.0K
$443.0K
$290.0K
$415.0K
Stock compensation expense
$5.4M
$5.7M
$5.0M
$5.6M
Provision for expected credit losses
$115.0K
$3.4M
$1.8M
$1.2M
Deferred income taxes
$4.8M
($5.2M)
($3.3M)
($1.9M)
Accounts receivable
$2.7M
($10.5M)
($17.9M)
$336.0K
Customer deposits
($14.2M)
($13.3M)
($8.1M)
($10.2M)
Prepaid expenses and income taxes
($1.7M)
$910.0K
($32.0K)
$3.7M
Other assets
($190.0K)
$863.0K
$60.0K
($919.0K)
Accounts and income taxes payable
($728.0K)
$162.0K
($1.3M)
($4.4M)
Accrued liabilities
$16.3M
$19.4M
$15.3M
($4.4M)
Operating lease liabilities
$395.0K
$653.0K
$2.3M
$1.4M
Net cash provided by operating activities
$155.6M
$127.3M
$99.2M
$82.3M
Purchases of property and equipment
($45.4M)
($35.8M)
($29.2M)
($26.3M)
Net cash used in investing activities
($45.4M)
($35.8M)
($29.2M)
($26.3M)
Exercise of employee stock purchase options
$849.0K
$749.0K
$681.0K
$676.0K
Exercise of common stock options
$7.6M
$10.3M
$9.3M
$10.9M
Purchase of treasury stock
($56.2M)
($37.6M)
($45.7M)
($93.7M)
Net cash used in financing activities
($47.8M)
($26.5M)
($35.8M)
($82.1M)
Net increase in cash and cash equivalents
$62.5M
$65.0M
$34.2M
($26.2M)
Cash and cash equivalents at beginning of year
$170.6M
$105.6M
$71.3M
$97.5M
CASH AND CASH EQUIVALENTS AT END OF YEAR
$233.1M
$170.6M
$105.6M
$71.3M
Income taxes paid
$31.1M
$28.1M
$22.9M
$20.0M
Accrual of software license purchase
$8.5M
$0
$0
$5.3M
Asset acquisition for stock
$4.3M
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CORVEL CORP cash flow statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · YTD
Sep 30, 2025 · YTD
Jun 30, 2025 · Q1
NET INCOME
$32.2M
$79.3M
$55.1M
$27.2M
Depreciation and amortization
$8.8M
$23.5M
$15.4M
$7.6M
Loss on write down or disposal of property, capitalized software or investment
$2.0K
$12.0K
$19.0K
$17.0K
Stock-based compensation expense
$1.4M
$4.2M
$2.8M
$1.4M
Provision for expected credit losses
$426.0K
$231.0K
$574.0K
$192.0K
Deferred income tax
($340.0K)
($1.0M)
($704.0K)
($355.0K)
Accounts receivable
($10.1M)
$1.8M
($1.4M)
$2.0M
Customer deposits
($11.3M)
($14.0M)
($10.8M)
($6.7M)
Prepaid taxes and expenses
$1.4M
($5.9M)
$915.0K
$1.0M
Other assets
($551.0K)
$33.0K
($34.0K)
($56.0K)
Accounts and taxes payable
$1.1M
$4.7M
($2.2M)
$5.4M
Accrued liabilities
$26.5M
$33.2M
$20.0M
$17.3M
Operating leases, net
$541.0K
$41.0K
$269.0K
($38.0K)
Net cash provided by operating activities
$49.9M
$126.2M
$80.0M
$55.0M
Purchase of property and equipment
($6.8M)
($36.2M)
($25.2M)
($15.5M)
Net cash used in investing activities
($6.8M)
($36.2M)
($25.2M)
($15.5M)
Purchase of treasury stock
($22.0M)
($36.0M)
($22.5M)
($9.6M)
Proceeds from exercise of common stock options
$1.7M
$5.0M
$4.1M
$1.5M
Net cash used in financing activities
($20.3M)
($30.5M)
($17.9M)
($8.1M)
Increase in cash and cash equivalents
$22.8M
$59.4M
$36.9M
$31.4M
Cash and cash equivalents at beginning of period
$233.1M
$170.6M
$170.6M
$170.6M
Cash and cash equivalents at end of period
$255.9M
$230.0M
$207.5M
$202.0M
Income taxes paid
$548.0K
$24.2M
$16.0M
$530.0K
Purchase of software license under finance agreement