CRA International Inc

crai.com

What Do They Do?

Provides economic and financial consulting for litigation and regulatory matters, and business strategy and performance advice to corporations, law firms, and government agencies.

How Do They Make Money?

Clients pay CRA for consulting services, either at agreed hourly rates for time worked or for a fixed fee for a defined set of work. CRA usually invoices monthly, with payment due upon receipt.

FY2026 revenue

Who Are Their Customers?

CRA serves corporations, government agencies, utilities and trade associations, and often works through law firms acting for their clients. Existing clients generate many repeat engagements; management consulting also comes through referrals and direct marketing.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2026 and turned 2 cents into free cash flow.

Operating income, FY2026

11% of revenue

▲ +17% vs FY2024 ($70.8M, 10%)

Net income, FY2026

7% of revenue

▲ +17% vs FY2024 ($46.7M, 7%)

Free cash flow, FY2026

2% of revenue

▼ −44% vs FY2024 ($33.1M, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jul 4, 2026

Revenue: ▲ +13%; vs $186.9M in Q2 FY2025
Net income: ▲ +11%; vs $12.1M in Q2 FY2025

Aug 6, 2026 CRA raises its full-year revenue guidance CRA raised fiscal 2026 revenue guidance to $805 million to $820 million from $785 million to $805 million, while reaffirming profit-margin guidance.

Growing. Revenue grew 33% in 4 years, from $565.9M in FY2022 to $751.6M in FY2026, about 7% a year.

Expanded industry coverage The latest report adds blockchain, cryptocurrency and digital assets to the industries in which CRA says it has expertise.

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