CorVel Corp. (CRVL) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. Welcome to the Corvell Corporation quarterly earnings release webcast. During the course of this webcast, Corvell Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company. Corvell wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Corvell refers you to the documents that the company files from time to time with the Securities and Exchange Commission, specifically the company's last form 10-K and 10-Q files for the most recent fiscal year and quarter. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. I would now like to turn it over to Michael Combs, President and Chief Executive Officer. Good morning. Thank you for joining us to review Corvell's December quarter. Brandon O'Brien, Corvell's Chief Financial Officer, is on the call with me today. Today I will review business performance, the current environment and market trends, and progress on new product and service offerings. Brennan will then provide additional details on the financial results for the quarter. The December quarter revenues were 202 million, a 13% increase over the 179 million of revenue for the December 2022 quarter. Earnings per share for the quarter were 99 cents, a 3% increase from 96 cents per share in the same quarter of the prior year. We ended the 2023 calendar year with a 34% increase in new business sold with balanced bookings across Corvell's network solution and patient management segments. Customer retention as measured by gross revenue retention for the year was 95%, while...