CORVEL CORP (CRVL) FY2025 10-K Annual Report
CORVEL CORP (CRVL) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on May 23, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CORVEL CORP FY2025 10-K Analysis
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
CORVEL CORP FY2025 Key Financial MetricsXBRL
Revenue
$896M
▲ +12.6% YoY
Net Income
$95M
▲ +24.8% YoY
Gross Margin
23.4%
▲ +183bp YoY
Net Margin
10.6%
▲ +104bp YoY
ROE
29.6%
▼ -124bp YoY
Total Assets
$546M
▲ +20.1% YoY
EPS (Diluted)
$1.83
▼ -58.4% YoY
Operating Cash Flow
$127M
▲ +28.3% YoY
Source: XBRL data from CORVEL CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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