CRVL FY 2022 Earnings Report — CorVel Corporation Revenue & Financial Results | Market Cap Arena

CorVel CorporationCRVL

FY 2022 Earnings

Reported May 27, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$646M	—	$553M	—	16.9%
Op. Income	$85M	—	$59M	—	42.8%
Gross Margin	23.5%	—	22.4%	—	1.2pp
Net Margin	10.3%	—	8.4%	—	1.9pp
EPS (Diluted)	$1.22	—	$2.50	—	-51.2%
Free Cash Flow	$37M	—	$77M	—	-51.5%

Revenue Flow

Item	Amount
REVENUE	$646M
Cost of Revenue	$494M
GROSS PROFIT	$152M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$68M
SG&A Expenses	$68M
Other Expenses	$0
Operating Expenses	$68M
Cost & Expenses	$562M
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$18M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$24M
EBIT	$85M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$646M
Cost of Revenue	$494M
GROSS PROFIT	$152M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$68M
SG&A Expenses	$68M
Other Expenses	$0
Operating Expenses	$68M
Cost & Expenses	$562M
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$18M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$24M
EBIT	$85M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$24M
Stock-Based Compensation	$5M
Deferred Income Tax	$2M
Other Non-Cash Items	$280.0K
Change in Working Capital	-$31M
OPERATING CASH FLOW	$67M
Capital Expenditure	-$30M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$30M
Net Debt Issuance	$0
Common Stock Repurchased	-$90M
Common Dividends Paid	$0
Other Financing Activities	$10M
NET CASH FROM FINANCING	-$80M
FREE CASH FLOW	$37M
Net Change in Cash	-$42M

Balance Sheet

Item	Amount
Cash & Equivalents	$98M
Short-Term Investments	$0
Net Receivables	$83M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$265M
PP&E (Net)	$111M
Goodwill	$37M
Intangible Assets	$2M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$481.0K
TOTAL NON-CURRENT ASSETS	$150M
TOTAL ASSETS	$415M
Account Payables	$14M
Short-Term Debt	$0
Deferred Revenue	$96M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$171M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$31M
TOTAL LIABILITIES	$203M
Common Stock	$3.0K
Additional Paid-In Capital	$202M
Retained Earnings	$665M
Treasury Stock	-$655M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$212M
Minority Interest	$0
TOTAL EQUITY	$212M
TOTAL LIABILITIES & EQUITY	$415M
Total Debt	$43M
Net Debt	-$54M