Fri, May 23, 8:31 PM (20 days ago)
**CorVel Corporation (CRVL) 2025 Annual Report Summary** **Financial Performance:** - **Revenue:** $896 million, up 13% from 2024. - **Net Income:** $95.2 million, a 25% increase. - **Earnings per Share (EPS):** $1.83, up 24% from 2024. - **Gross Profit:** $210 million, a 22% increase. - **General and Administrative Expenses:** $88.9 million, up 16%. **Strategic Overview:** - **Stock Repurchase:** $37.6 million spent to repurchase 377,154 shares. - **Stock Split:** A three-for-one forward stock split was effected. - **Board Changes:** V. Gordon Clemons retired; Michael G. Combs appointed as Chairman. **Future Outlook:** - **Revenue Growth:** Expected to grow at the same rate as revenues. - **Cash Flow:** $127.3 million in operating cash flow, up 28.1%. - **Investing Activities:** $35.8 million in investing activities, up 6.5%. **Risk Factors:** - **Market Risks:** Fluctuations in sequential revenue, competition, and regulatory changes. - **Operational Risks:** Dependence on key personnel, cybersecurity threats, and inflation. - **Financial Risks:** Credit risk, interest rate risk, and market risk. **Financial Condition:** - **Cash and Cash Equivalents:** $170.6 million. - **Working Capital:** $183 million, up from $118 million in 2024. - **Debt:** Virtually no interest-bearing debt for the past 33 years. **Market Position Changes:** - **Customer Base:** No single customer accounted for 10% or more of revenue. - **Market Share:** Growth in TPA services and enhanced bill review programs. **Operational Highlights:** - **Services:** Claims management, bill review, PPO management, pharmacy services, directed care, and Medicare solutions. - **Technology:** Use of AI, machine learning, and natural language processing. - **Human Capital:** 5,075 employees, with a focus on diversity and inclusion. **Regulatory Environment:** - **Compliance:** Adherence to various laws and regulations in the healthcare and workers’ compensation industries. - **Cybersecurity:** Robust cybersecurity measures in place to protect data and systems. **Conclusion:** CorVel Corporation continues to demonstrate strong financial performance and strategic growth, with a focus on technology and operational efficiency. The company faces various risks but maintains a solid financial condition and a commitment to innovation and compliance.