$CRVL
CORVEL CORP

2023 Q1 Form 10-Q Financial Statement

#000095017023001710 Filed on February 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $185.4M $179.4M
YoY Change 8.22% 9.04%
Cost Of Revenue $143.5M $139.0M
YoY Change 11.83% 7.52%
Gross Profit $41.95M $40.35M
YoY Change -2.56% 14.66%
Gross Profit Margin 22.62% 22.49%
Selling, General & Admin $19.36M $18.13M
YoY Change 15.28% 3.55%
% of Gross Profit 46.14% 44.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.257M $6.219M
YoY Change 4.02% 2.69%
% of Gross Profit 14.92% 15.41%
Operating Expenses $19.36M $18.13M
YoY Change 15.28% 3.55%
Operating Profit $22.59M $22.22M
YoY Change -13.96% 25.65%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $22.59M $22.22M
YoY Change -13.96% 25.65%
Income Tax $4.424M $5.368M
% Of Pretax Income 19.58% 24.16%
Net Earnings $18.17M $16.85M
YoY Change -7.48% 21.58%
Net Earnings / Revenue 9.8% 9.39%
Basic Earnings Per Share $1.06 $0.98
Diluted Earnings Per Share $1.04 $0.96
COMMON SHARES
Basic Shares Outstanding 17.16M 17.27M
Diluted Shares Outstanding 17.49M

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.33M $78.03M
YoY Change -26.85% -32.46%
Cash & Equivalents $71.33M $78.03M
Short-Term Investments
Other Short-Term Assets $91.41M $95.92M
YoY Change 7.66% 14.75%
Inventory
Prepaid Expenses $11.39M $13.06M
Receivables $81.03M $82.79M
Other Receivables $0.00 $0.00
Total Short-Term Assets $243.8M $256.7M
YoY Change -8.01% -4.44%
LONG-TERM ASSETS
Property, Plant & Equipment $82.77M $82.07M
YoY Change 8.53% 15.78%
Goodwill $36.81M $36.81M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.380M $778.0K
YoY Change 186.9% 32.76%
Total Long-Term Assets $150.2M $150.9M
YoY Change -0.07% -2.64%
TOTAL ASSETS
Total Short-Term Assets $243.8M $256.7M
Total Long-Term Assets $150.2M $150.9M
Total Assets $393.9M $407.7M
YoY Change -5.14% -3.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.06M $14.70M
YoY Change 6.95% 24.37%
Accrued Expenses $152.6M $169.8M
YoY Change -2.78% 7.34%
Deferred Revenue $26.98M $26.34M
YoY Change 4.58% 15.43%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $167.9M $186.4M
YoY Change -2.03% 9.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $23.86M $25.77M
YoY Change -19.91% -32.61%
Total Long-Term Liabilities $23.86M $25.77M
YoY Change -19.91% -32.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $167.9M $186.4M
Total Long-Term Liabilities $23.86M $25.77M
Total Liabilities $191.7M $212.9M
YoY Change -5.47% 1.96%
SHAREHOLDERS EQUITY
Retained Earnings $731.7M $713.5M
YoY Change 9.98% 10.51%
Common Stock $218.7M $210.9M
YoY Change 8.48% 5.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $748.2M
YoY Change 14.31%
Treasury Stock Shares $37.82M
Shareholders Equity $202.2M $194.8M
YoY Change
Total Liabilities & Shareholders Equity $393.9M $407.7M
YoY Change -5.14% -3.78%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $18.17M $16.85M
YoY Change -7.48% 21.58%
Depreciation, Depletion And Amortization $6.257M $6.219M
YoY Change 4.02% 2.69%
Cash From Operating Activities $12.78M $29.75M
YoY Change -24.03% 95.77%
INVESTING ACTIVITIES
Capital Expenditures $7.156M $5.768M
YoY Change -162.89% -184.53%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.156M -$5.768M
YoY Change -37.11% -15.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.33M -21.58M
YoY Change -47.49% -9.76%
NET CHANGE
Cash From Operating Activities 12.78M 29.75M
Cash From Investing Activities -7.156M -5.768M
Cash From Financing Activities -12.33M -21.58M
Net Change In Cash -6.702M 2.406M
YoY Change -62.84% -115.49%
FREE CASH FLOW
Cash From Operating Activities $12.78M $29.75M
Capital Expenditures $7.156M $5.768M
Free Cash Flow $5.628M $23.98M
YoY Change -80.05% 8.91%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-19473000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-24178000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
97504000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
139716000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
78031000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
115538000
us-gaap Income Taxes Paid
IncomeTaxesPaid
14981000
us-gaap Income Taxes Paid
IncomeTaxesPaid
17879000
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
5273000
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
0
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2562000
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
28877000
CY2022Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
27307000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
82791000
crvl Revenue Recognition Number Of Performance Obligation
RevenueRecognitionNumberOfPerformanceObligation
1
crvl Latest Duration Of Unbilled Revenue Billing
LatestDurationOfUnbilledRevenueBilling
P1Y
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
82586000
crvl Accounts Receivable Due Period
AccountsReceivableDuePeriod
P30D
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
179386000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164508000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
533119000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
474871000
CY2022Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
56957000
CY2022Q1 us-gaap Billed Contract Receivables
BilledContractReceivables
57841000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.36
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.36
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
69200
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
25796000
crvl Contract With Customer Liability Increase Through Contracts Acquired
ContractWithCustomerLiabilityIncreaseThroughContractsAcquired
33686000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
20193000
crvl Contract With Customer Liability Revenue Recognized From Additions
ContractWithCustomerLiabilityRevenueRecognizedFromAdditions
12949000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
26340000
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
26300000
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
The Company expects to recognize approximately 98% of its remaining performance obligations as revenues within one year and the remaining balance thereafter.
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
us-gaap Capitalized Contract Cost Judgment
CapitalizedContractCostJudgment
The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as unbilled receivables on the Company’s consolidated balance sheets.
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
one year or less
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0436
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0127
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3M18D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
706728
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
96.14
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
778982
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
72.17
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
53.27
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
155.99
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50200
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
197.16
CY2022Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
18210
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
67.63
CY2021Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
25917
CY2021Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
62.78
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1256
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
126.62
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
6407
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
81.62
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
756462
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
102.25
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
796858
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.27
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
723876
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
84.55
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
937158
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
14918
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
128.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
38162
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
78.87
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
756462
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
64.28
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
149400
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
155.69
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
110450
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
163.54
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
101896
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
51.17
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
212588
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
102.25
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
796858
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.27
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
756462
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y3M25D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
102.25
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
337559
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
70.05
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
706728
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
96.14
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
69200
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
155.99
CY2022Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
18210
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
67.63
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1225
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
121.76
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
31
CY2022Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
121.96
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
756462
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
102.25
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M25D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
36912256
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
662773
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
99.55
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y4M2D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
33500567
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
337559
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
70.05
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y6M14D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
25647949
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
55.15
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
60.55
us-gaap Net Income Loss
NetIncomeLoss
48196000
us-gaap Net Income Loss
NetIncomeLoss
46773000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17379000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.62
CY2022Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000
CY2022Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
39000000
CY2022Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
730000000
CY2022Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
152102
CY2022Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
22800000
CY2022Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
149.87
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
491493
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
75100000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
152.76
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17245000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17785000
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17487000
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18211000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17379000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17841000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17647000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18221000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
16849000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
13858000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17245000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17785000
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17245000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17785000
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
242000
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
426000
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17487000
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18211000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17841000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.77
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17647000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18221000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17379000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17841000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
268000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
380000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
14702000
CY2022Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
14080000
CY2022Q4 crvl Income Taxes Payable Current And Uncertain Tax Positions
IncomeTaxesPayableCurrentAndUncertainTaxPositions
1914000
CY2022Q1 crvl Income Taxes Payable Current And Uncertain Tax Positions
IncomeTaxesPayableCurrentAndUncertainTaxPositions
351000
CY2022Q4 crvl Accounts And Taxes Payable
AccountsAndTaxesPayable
16616000
CY2022Q1 crvl Accounts And Taxes Payable
AccountsAndTaxesPayable
14431000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
36477000
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
36066000
CY2022Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
82857000
CY2022Q1 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
69781000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8596000
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8073000
CY2022Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
3032000
CY2022Q1 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
2798000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
26340000
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
25796000
CY2022Q4 crvl Accrued Operating Lease Liabilities
AccruedOperatingLeaseLiabilities
10687000
CY2022Q1 crvl Accrued Operating Lease Liabilities
AccruedOperatingLeaseLiabilities
13348000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1821000
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1077000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
169810000
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
156939000
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
3090000
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
3580000
CY2022Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
23000
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000
CY2022Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5000
CY2021Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
213000
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
136000
CY2022Q4 us-gaap Lease Cost
LeaseCost
3331000
CY2021Q4 us-gaap Lease Cost
LeaseCost
3743000
us-gaap Operating Lease Cost
OperatingLeaseCost
9381000
us-gaap Operating Lease Cost
OperatingLeaseCost
10519000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
29936000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
35020000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
10687000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13348000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25773000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
29792000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
36460000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
43140000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M24D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M25D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.026
us-gaap Operating Lease Payments
OperatingLeasePayments
10984000
us-gaap Operating Lease Payments
OperatingLeasePayments
11204000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
56105000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
60420000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
358000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
358000
crvl Reductions To Right Of Use Assets Resulting From Reductions To Operating Lease Liabilities
ReductionsToRightOfUseAssetsResultingFromReductionsToOperatingLeaseLiabilities
2217000
crvl Reductions To Right Of Use Assets Resulting From Reductions To Operating Lease Liabilities
ReductionsToRightOfUseAssetsResultingFromReductionsToOperatingLeaseLiabilities
6446000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3412000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10529000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8415000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6120000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4380000
CY2022Q4 crvl Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
6049000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
38905000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2445000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
36460000
crvl Lessee Operating Lease Commitments Not Yet Commenced
LesseeOperatingLeaseCommitmentsNotYetCommenced
5500000

Files In Submission

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crvl-ex31_1.htm Edgar Link pending
crvl-ex31_2.htm Edgar Link pending
0000950170-23-001710-index-headers.html Edgar Link pending
0000950170-23-001710-index.html Edgar Link pending
0000950170-23-001710.txt Edgar Link pending
0000950170-23-001710-xbrl.zip Edgar Link pending
crvl-20221231.htm Edgar Link pending
crvl-20221231.xsd Edgar Link pending
crvl-ex32_1.htm Edgar Link pending
crvl-ex32_2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
crvl-20221231_lab.xml Edgar Link unprocessable
crvl-20221231_cal.xml Edgar Link unprocessable
crvl-20221231_pre.xml Edgar Link unprocessable
crvl-20221231_def.xml Edgar Link unprocessable
crvl-20221231_htm.xml Edgar Link completed