Corvel Corp

• Exited the quarter with $202 million of cash, cash equivalents, and no borrowings.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

• The Company repurchased $9.6 million of common stock during the quarter.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

As of June 30, 2026 , 1,483,359 shares of common stock remained available for future issuance under the 2025 SIP, subject to adjustment for future stock splits, stock dividends, and similar changes in capitalization.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

The Company uses historical data, among other factors, to estimate the expected volatility, dividend yield and option life.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

The following assumptions were used to estimate the fair value of stock options granted during the three months ended June 30, 2025, using the Black-Scholes option-pricing model: Three Months Ended June 30, 2025 Risk-free interest rate 4.07 % Expected volatility 31 % Expected dividend yield 0.00 % Expected weighted average life of option in years 4.0 years For the three months ended June 30, 2026 and 2025 , the Company recorded stock-based compensation expense of $ 1,360,000 and $ 1,417,000 , respectively.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

Note 4 Treasury Stock The Board initially approved the commencement of a stock repurchase program in 1996 (the stock repurchase program ).

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

The results achieved in the quarter were driven by disciplined execution and a clear focus on long-term strategy.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

CorVel’s teams continue to advance innovation initiatives, including targeted R&D in agentic AI, strengthen operational capabilities, enhance customer outcomes, and deliver sustainable value for shareholders.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

This acquisition provides additional strength to foundational technologies and aligns with the strategic vision of delivering advanced, scalable solutions to CERIS partners.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

General and Administrative Expense For the three months ended June 30, 2026, general and administrative expense consisted of approximately 44% of corporate systems costs, which include the corporate systems support, implementation and training, rules engine development, national IT strategy and planning, depreciation of hardware costs in the Company s corporate offices and backup data center, the Company s nationwide area network, and other systems related costs.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement results of operations and financial condition is greater than our initial assessment.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2025, and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2024, September 30, 2024, and December 31, 2024.

SEC original ↗Corvel Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Legal Proceedings 24 Item 1A.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

Although the results of these matters cannot be predicted with certainty, the Company believes it is not currently a party to any legal proceedings, disputes, or other claims for which a material loss is considered probable and for which the amount (or range) of loss is reasonably estimable.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026

Actual future performance, outcomes, and results may differ materially from those expressed in forward-looking statements made by the Company and its management as a result of a number of risks, uncertainties and assumptions.

SEC original ↗Corvel Corp — 10-Q Quarterly report10-QAug 6, 2026