Exhibit 99.1

Date: January 31, 2023	CorVel Corporation
	5128 Apache Plume Road
	Suite 400
	Fort Worth, TX 76109
FOR IMMEDIATE RELEASE	Contact: Melissa Storan
	Phone: 949-851-1473
	www.corvel.com

CorVel Announces Revenues and Earnings

FORT WORTH, Texas, January 31, 2023 — CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended December 31, 2022. Revenues for the quarter were $179 million, an increase from $165 million in the same quarter of the previous year. Earnings per share for the quarter were $0.96, compared to $0.76 in the same quarter of the prior year.

Revenues for the nine months ended December 31, 2022 were $533 million, compared to $475 million for the nine months ended December 31, 2021. Earnings per share for the nine months ended December 31, 2022 were $2.73, compared to $2.57 for the nine months ended December 31, 2021.

CorVel was pleased to have record new sales in its Enterprise Comp book of business serving the Workers’ Compensation market. Increasing market recognition and acknowledgment of results achieved were the primary drivers for the increase. Additionally, continued investments in managed care services have increased interest and, ultimately, the growth of CorVel’s carrier business.

The Company has also continued work in the area of digital transformation. Most recent efforts have focused on enhancing CorVel’s document repository system with AI-centric technologies. The advancements being implemented automate the extraction and codification of critical data, which can then be leveraged dynamically within systems. The development roadmap for the quarter and beyond includes increased automation and augmentation, which will further optimize bottom-line results and outcomes.

About CorVel

CorVel Corporation applies technology including artificial intelligence, machine learning and natural language processing to enhance the managing of episodes of care and the related health care costs. We partner with employers, third-party administrators, insurance companies and government agencies in managing workers’ compensation and health, auto and liability services. Our diverse suite of solutions combines our integrated technologies with a human touch. CorVel's customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to our commercial health-focused operation, improved productivity resulting from automation and augmentation across enterprise business systems. 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, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.

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, 2022 and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2022 and September 30, 2022. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

CorVel Corporation

Quarterly Results – Income Statement

Quarters and Nine Months Ended December 31, 2022 (unaudited) and December 31, 2021 (unaudited)

Quarter Ended	December 31, 2022		December 31, 2021
Revenues	$	179,386,000	$	164,508,000
Cost of revenues		139,041,000		129,320,000
Gross profit		40,345,000		35,188,000
General and administrative		18,128,000		17,506,000
Income from operations		22,217,000		17,682,000
Income tax provision		5,368,000		3,824,000
Net income	$	16,849,000	$	13,858,000
Earnings Per Share:
Basic	$	0.98	$	0.78
Diluted	$	0.96	$	0.76
Weighted Shares
Basic		17,245,000		17,785,000
Diluted		17,487,000		18,211,000

Nine Months Ended	December 31, 2022		December 31, 2021
Revenues	$	533,119,000	$	474,871,000
Cost of revenues		416,811,000		365,808,000
Gross profit		116,308,000		109,063,000
General and administrative		54,347,000		50,810,000
Income from operations		61,961,000		58,253,000
Income tax provision		13,765,000		11,480,000
Net income	$	48,196,000	$	46,773,000
Earnings Per Share:
Basic	$	2.77	$	2.62
Diluted	$	2.73	$	2.57
Weighted Shares
Basic		17,379,000		17,841,000
Diluted		17,647,000		18,221,000

CorVel Corporation

Quarterly Results – Condensed Balance Sheet

December 31, 2022 (unaudited) and March 31, 2022

	December 31, 2022			March 31, 2022
Cash	$	78,031,000		$	97,504,000
Customer deposits		82,857,000			69,781,000
Accounts receivable, net		82,791,000			82,586,000
Prepaid taxes and expenses		13,064,000			15,123,000
Property, net		82,066,000			76,268,000
Goodwill and other assets		38,942,000			38,964,000
Right-of-use asset, net		29,936,000			35,020,000
Total	$	407,687,000		$	415,246,000
Accounts and taxes payable	$	16,616,000		$	14,431,000
Accrued liabilities		169,810,000			156,939,000
Deferred tax liability		683,000			1,689,000
Long-term lease liabilities		25,773,000			29,792,000
Paid-in capital		210,907,000			201,612,000
Treasury stock		(729,601,000	)		(654,520,000	)
Retained earnings		713,499,000			665,303,000
Total	$	407,687,000		$	415,246,000