$CRVL
CORVEL CORP

2024 Q3 Form 10-Q Financial Statement

#000095017024089341 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $224.4M $211.7M
YoY Change 14.76% 11.28%
Cost Of Revenue $173.6M $163.6M
YoY Change 14.78% 10.24%
Gross Profit $50.75M $48.16M
YoY Change 14.68% 14.99%
Gross Profit Margin 22.62% 22.74%
Selling, General & Admin $22.08M $20.12M
YoY Change 13.22% 22.31%
% of Gross Profit 43.51% 41.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.712M $6.726M
YoY Change 19.2% 5.69%
% of Gross Profit 15.2% 13.97%
Operating Expenses $22.08M $20.12M
YoY Change 13.22% 22.31%
Operating Profit $28.67M $28.04M
YoY Change 15.83% 10.25%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $28.67M $28.04M
YoY Change 16.01% 10.25%
Income Tax $5.272M $6.458M
% Of Pretax Income 18.39% 23.04%
Net Earnings $23.40M $21.58M
YoY Change 17.59% 8.95%
Net Earnings / Revenue 10.43% 10.19%
Basic Earnings Per Share $1.37 $1.26
Diluted Earnings Per Share $1.35 $1.25
COMMON SHARES
Basic Shares Outstanding 17.13M 17.12M
Diluted Shares Outstanding 17.34M 17.31M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $138.3M $131.9M
YoY Change 50.87% 52.33%
Cash & Equivalents $138.3M $131.9M
Short-Term Investments
Other Short-Term Assets $122.6M $103.6M
YoY Change 18.79% 6.61%
Inventory
Prepaid Expenses $13.48M $9.579M
Receivables $102.4M $97.75M
Other Receivables $0.00 $0.00
Total Short-Term Assets $363.3M $333.3M
YoY Change 28.9% 24.37%
LONG-TERM ASSETS
Property, Plant & Equipment $112.9M $110.1M
YoY Change 32.96% 30.65%
Goodwill $36.81M $36.81M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $679.0K $1.465M
YoY Change -51.67% -94.39%
Total Long-Term Assets $155.2M $152.9M
YoY Change 1.96% 2.2%
TOTAL ASSETS
Total Short-Term Assets $363.3M $333.3M
Total Long-Term Assets $155.2M $152.9M
Total Assets $518.6M $486.2M
YoY Change 19.45% 16.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.17M $18.68M
YoY Change -6.43% -8.51%
Accrued Expenses $198.7M $181.9M
YoY Change 16.09% 8.72%
Deferred Revenue $29.96M $30.22M
YoY Change 2.7% 8.94%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $212.9M $200.6M
YoY Change 14.13% 6.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.92M $21.71M
YoY Change -8.31% -5.02%
Total Long-Term Liabilities $22.92M $21.71M
YoY Change -8.31% -5.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $212.9M $200.6M
Total Long-Term Liabilities $22.92M $21.71M
Total Liabilities $235.8M $222.3M
YoY Change 11.46% 5.56%
SHAREHOLDERS EQUITY
Retained Earnings $852.9M $829.5M
YoY Change 10.57% 10.38%
Common Stock $242.9M $237.8M
YoY Change 7.19% 7.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $282.8M $263.9M
YoY Change
Total Liabilities & Shareholders Equity $518.6M $486.2M
YoY Change 19.45% 16.43%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $23.40M $21.58M
YoY Change 17.59% 8.95%
Depreciation, Depletion And Amortization $7.712M $6.726M
YoY Change 19.2% 5.69%
Cash From Operating Activities $22.31M $40.44M
YoY Change 24.0% 10.41%
INVESTING ACTIVITIES
Capital Expenditures $9.886M $7.673M
YoY Change 36.74% 51.97%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.886M -$7.673M
YoY Change 36.74% 51.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.981M -6.421M
YoY Change 6.61% -60.64%
NET CHANGE
Cash From Operating Activities 22.31M 40.44M
Cash From Investing Activities -9.886M -7.673M
Cash From Financing Activities -5.981M -6.421M
Net Change In Cash 6.441M 26.35M
YoY Change 25.07% 72.6%
FREE CASH FLOW
Cash From Operating Activities $22.31M $40.44M
Capital Expenditures $9.886M $7.673M
Free Cash Flow $12.42M $32.77M
YoY Change 15.45% 3.77%

Facts In Submission

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The Company expects to recognize approximately 98% of its remaining performance obligations as revenues within one year and expects to recognize the remaining balance as revenues thereafter.
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17385000
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17385000
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36693000
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26291000
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30217000
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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