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- **Revenue Growth**: 7% YoY to $240 million, driven by AI-enhanced operations and organic partner expansion
- **AI Impact**: Agentic AI reduces claims processing time by 30%, enabling 20% more reviews per month
- **Financial Strength**: Debt-free balance sheet with $207 million cash; 22% YoY net income growth
- **Strategic Moves**: $854 million in share buybacks; M&A pipeline to expand AI capabilities
- **Operational Efficiency**: 40-day DSO (industry average 55 days); 28% net income margin


**【CEO Summary Section】**
- **Market Trends**: 
  - **Workers' Compensation Labor Shortage**: CorVel addresses workforce challenges through CorVel University, achieving high retention rates and developing new talent.
  - **Commercial Health Pricing Pressure**: CERiS division focuses on cost-saving automation, processing more claims with AI-driven precision.
  - **Agentic AI Adoption**: Leverages AI to automate workflows, reduce costs, and accelerate feature delivery. For example, claims processing tasks are streamlined, enabling professionals to focus on high-value care coordination.
- **Sales Growth**: Organic expansion with existing partners, driven by high-quality service delivery. Payment Integrity Health Solution continues to grow, supported by AI-enhanced cost containment services.

**【CFO Financial Commentary】**
- **Q2 2026 Financials**: 
  - Revenue: $240 million (7% YoY growth)
  - EPS: $0.54 (20% YoY increase)
  - Net Income: $28 million (22% YoY growth)
  - Gross Margin: Improved due to operational efficiencies and lower direct costs
- **Share Repurchases**: 
  - Q2: 143,774 shares ($12.8 million)
  - Total Repurchased: 114.7 million shares ($854 million)
  - Remaining Shares Outstanding: 31%
- **Liquidity**: 
  - Cash Balance: $207 million
  - Debt-Free Balance Sheet
  - Days Sales Outstanding: 40 days (2-day improvement YoY)

**【Mergers & Acquisitions Update】**
- **June 2026 Acquisition**: 
  - Acquired AI talent and technology assets to accelerate Agentic AI integration
  - Immediate impact on product development and operational efficiency
  - Pipeline of future enhancements and synergistic M&A opportunities


CorVel Corporation(CRVL)-20251104-2026 Q2 Earnings call transcript

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