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Side-by-side financial comparison of Bandwidth Inc. (BAND) and CORVEL CORP (CRVL). Click either name above to swap in a different company.
CORVEL CORP is the larger business by last-quarter revenue ($235.6M vs $208.8M, roughly 1.1× Bandwidth Inc.). CORVEL CORP runs the higher net margin — 10.3% vs 1.9%, a 8.3% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 3.4%). CORVEL CORP produced more free cash flow last quarter ($35.2M vs $-1.0M). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs 6.6%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
Corvel Corp is a U.S.-headquartered provider of integrated workers’ compensation, healthcare management, and risk mitigation solutions. It serves insurance carriers, self-insured employers, and public sector clients, delivering services to control healthcare costs, improve care outcomes, and optimize administrative operations.
BAND vs CRVL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $235.6M |
| Net Profit | $4.0M | $24.2M |
| Gross Margin | 37.3% | 23.3% |
| Operating Margin | 60.5% | 13.7% |
| Net Margin | 1.9% | 10.3% |
| Revenue YoY | 20.1% | 3.4% |
| Net Profit YoY | 200.0% | 1.7% |
| EPS (diluted) | $-0.08 | $0.47 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $208.8M | — | ||
| Q4 25 | $207.7M | $235.6M | ||
| Q3 25 | $191.9M | $239.6M | ||
| Q2 25 | $180.0M | $234.7M | ||
| Q1 25 | $174.2M | $231.5M | ||
| Q4 24 | $210.0M | $228.0M | ||
| Q3 24 | $193.9M | $224.4M | ||
| Q2 24 | $173.6M | $211.7M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $24.2M | ||
| Q3 25 | $-1.2M | $27.9M | ||
| Q2 25 | $-4.9M | $27.2M | ||
| Q1 25 | $-3.7M | $26.4M | ||
| Q4 24 | — | $23.8M | ||
| Q3 24 | $413.0K | $23.4M | ||
| Q2 24 | $4.1M | $21.6M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | 23.3% | ||
| Q3 25 | 38.5% | 24.3% | ||
| Q2 25 | 39.8% | 24.2% | ||
| Q1 25 | 41.0% | 25.0% | ||
| Q4 24 | 36.4% | 23.2% | ||
| Q3 24 | 37.7% | 22.6% | ||
| Q2 24 | 37.3% | 22.7% |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | 13.7% | ||
| Q3 25 | -1.0% | 15.0% | ||
| Q2 25 | -2.1% | 15.0% | ||
| Q1 25 | -2.7% | 14.4% | ||
| Q4 24 | -1.3% | 13.5% | ||
| Q3 24 | -0.5% | 12.8% | ||
| Q2 24 | -3.5% | 13.2% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 10.3% | ||
| Q3 25 | -0.6% | 11.6% | ||
| Q2 25 | -2.7% | 11.6% | ||
| Q1 25 | -2.1% | 11.4% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | 0.2% | 10.4% | ||
| Q2 24 | 2.3% | 10.2% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.47 | ||
| Q3 25 | $-0.04 | $0.54 | ||
| Q2 25 | $-0.16 | $0.52 | ||
| Q1 25 | $-0.13 | $-1.23 | ||
| Q4 24 | $0.27 | $0.46 | ||
| Q3 24 | $0.01 | $1.35 | ||
| Q2 24 | $-0.17 | $1.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $230.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $375.7M |
| Total Assets | $984.2M | $644.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $230.0M | ||
| Q3 25 | $80.4M | $207.5M | ||
| Q2 25 | $68.1M | $202.0M | ||
| Q1 25 | $41.7M | $170.6M | ||
| Q4 24 | $83.8M | $162.9M | ||
| Q3 24 | $79.9M | $138.3M | ||
| Q2 24 | $76.4M | $131.9M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $375.7M | ||
| Q3 25 | $392.7M | $362.8M | ||
| Q2 25 | $384.5M | $342.5M | ||
| Q1 25 | $345.4M | $322.0M | ||
| Q4 24 | $312.5M | $300.9M | ||
| Q3 24 | $336.6M | $282.8M | ||
| Q2 24 | $307.4M | $263.9M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $644.8M | ||
| Q3 25 | $1.0B | $611.7M | ||
| Q2 25 | $1.0B | $597.4M | ||
| Q1 25 | $964.4M | $546.0M | ||
| Q4 24 | $989.2M | $538.8M | ||
| Q3 24 | $1.0B | $518.6M | ||
| Q2 24 | $1.0B | $486.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $46.1M |
| Free Cash FlowOCF − Capex | $-1.0M | $35.2M |
| FCF MarginFCF / Revenue | -0.5% | 14.9% |
| Capex IntensityCapex / Revenue | — | 4.7% |
| Cash ConversionOCF / Net Profit | — | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $46.1M | ||
| Q3 25 | $22.2M | $25.0M | ||
| Q2 25 | $31.7M | $55.0M | ||
| Q1 25 | $-3.1M | $22.9M | ||
| Q4 24 | $36.5M | $41.6M | ||
| Q3 24 | $20.5M | $22.3M | ||
| Q2 24 | $24.4M | $40.4M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $35.2M | ||
| Q3 25 | — | $15.3M | ||
| Q2 25 | — | $39.5M | ||
| Q1 25 | — | $14.3M | ||
| Q4 24 | — | $32.1M | ||
| Q3 24 | — | $12.4M | ||
| Q2 24 | — | $32.8M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 14.9% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 14.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 15.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.91× | ||
| Q3 25 | — | 0.90× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 1.75× | ||
| Q3 24 | 49.55× | 0.95× | ||
| Q2 24 | 6.03× | 1.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
