Short answer
CORVEL CORP (CRVL) filed its fiscal 2025 10-K annual report with the SEC on May 23, 2025. It reported revenue of $896M (+12.6% year over year) and net income of $95M.
- Top risk flagged: Regulatory risk from ongoing indemnification obligations under unspecified contracts related to service agreements and real estate leases without capped liabilities
FY2025 key financial metrics · XBRL
- Revenue
- $896M
- +12.6% YoY
- Net income
- $95M
- +24.8% YoY
- Gross margin
- 23.4%
- +1.8 pp YoY
- EPS (diluted)
- $1.83
- −58.4% YoY
- ROE
- 29.6%
- −1.2 pp YoY
- Operating cash flow
- $127M
- +28.3% YoY
Source: XBRL data from the CORVEL CORP (CRVL) FY2025 10-K on SEC EDGAR. USD.
CORVEL CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: integrated technology-driven claims and medical cost management services for workers' compensation and insurance payors
- New emphasis on CorVel CareMC Edge module: AI-driven prioritization of claims for rapid decision-making launched this year
- Strategic shift: increased focus on national account marketing supported by enhanced technology and nationwide branch network
- PPO network expanded to 1.2 million providers nationwide as of March 31, 2025
- Fiscal 2025 stock repurchase $37.6M for 377,154 shares; executed a 3-for-1 forward stock split this year
Risk Factors
- Regulatory risk from ongoing indemnification obligations under unspecified contracts related to service agreements and real estate leases without capped liabilities
- Macroeconomic exposure to inflation-driven wage increases causing 9%-10% salary growth and 6%-8% headcount increase impacting labor costs over two years
- Operational risk from concentration of labor costs (>50% of cost of revenues) with increased headcount tied to growing business volume and wage inflation
- Competitive risk from increased revenue reliance on enhanced bill review programs amid growing managed care and enterprise customers, with no named competitors disclosed
- Financial risk from potential reduction or suspension of stock repurchases ($37.6M spent in fiscal 2025) if operating cash flows or income decline
Generated from the filing text; verify against the original. How to read a 10-K
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