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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

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CRVL

CRVL fundamentals

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