CorVel Corp.

Thank you for standing by. Welcome to the Corvel Corporation's Quarterly Earnings Release Webcast. During the course of this webcast, Corvel Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company. Corvel wishes to caution you that these statements are only predictions that actual events or results may differ materially. Corwell refers you to the documents that the company files from time to time with the Securities and Exchange Commission, specifically the companies Form 10-K and 10-Q filed 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. Thank you.

Good morning, and thank you for joining us to review Corvell's June quarter results. Today, in my new role as Executive Chairman, I'm joined by Corvell's President and CEO, Sarah Scott, and our Chief Financial Officer, Brian Nichols. Before we begin, I'd like to acknowledge that this quarter marks an important milestone in Corvell's leadership. Sarah's appointment as president and CEO is the culmination of more than 18 months of deliberate succession planning by our board. Throughout that process, we evaluated the leadership capabilities needed to guide Corvel through its next phase of growth, and we are confident Sarah is the right person to lead the company. Her deep understanding of our business, our customers, and our culture, combined with the strength of our executive leadership team, provides both continuity and a strong foundation for the future. Now turning to today's agenda, I'll provide a high-level review of our financial performance. Brian will then discuss the quarter's financial results in greater detail, and Sarah will review business performance, the current operating environment, key market trends, and progress across our product and service offerings. The June quarter revenues were $260 million, 11% over the $235 million in revenue for the June 2025 quarter. Journeys for Share for the quarter ended June 30, 2026, were 63 cents. That's an increase of 22% over the same quarter of the prior year's EPS of 52 cents. These results reflect the strength of our business, the dedication of our associates, and the successful execution of our long-term strategy. As Executive Chairman, I look forward to supporting Sarah and our leadership team as they continue building on that momentum and creating long-term value for our customers and our shareholders. Brian will now provide additional information regarding the quarter. Brian?

Thank you, Michael, and good morning, everyone. Results for the quarter included some one-time items, which can be a normal part of operating our business. Within Cirrus, these items increased earnings by approximately $0.07 per share, primarily reflecting a settlement of legacy accounts receivable. Additionally in the quarter, increases to our effective tax rate did have a slight impact on net income. However, even excluding these items, underlying performance of the business remains strong. Total net income increased 18% in the June 2026 quarter compared to the year prior, with the impact of that result balanced by both our patient management and network solution services. Additionally, patient management and network solutions were both equal contributors to the increases in total revenue, each growing by approximately $12.5 million. Our Cirrus product was the top driver for the network solutions increase. Patient management growth was primarily driven by our enterprise claims TPA program. Claims volume grew by 8% comparing the June 2026 quarter to the June 2025 quarter. This improvement marked the largest annual quarter-over-quarter increase in claims volume since December of 2024. Quarterly year-over-year new customer sales improved by over 60%, with nearly half of the growth occurring in the month of June. Over the last 12 months, new sales posted a 40% increase compared to the prior 12-month period, demonstrating the strength of our sales organization and growing demand for our solutions. Additionally, RFP volume and average opportunity value were significantly improved in this quarter compared to the same quarter of last year. And now Sarah will discuss the market environment and industry trends shaping our business.