CRA International, Inc. reported a notable increase in financial performance for the fiscal quarter ended July 4, 2026, with revenues reaching $210.8 million, a 12.8% rise from $186.9 million in the same quarter of the previous year. Year-to-date revenues also saw an increase of 11.7%, totaling $411.8 million compared to $368.7 million for the prior year-to-date period. Despite the revenue growth, net income for the quarter increased to $13.5 million, up from $12.1 million, while year-to-date net income decreased to $24.6 million from $30.1 million, reflecting a decline in profitability.
The company's costs of services, excluding depreciation and amortization, rose by 15.7% to $148.7 million for the quarter, driven primarily by increased employee compensation and forgivable loan amortization. Selling, general, and administrative expenses remained relatively stable, increasing slightly to $35.3 million. The effective tax rate for the quarter was 32.9%, up from 29.2% in the prior year, attributed to higher nondeductible executive compensation and changes in deferred tax asset valuations.
CRA International's operational metrics showed a positive trend, with consultant headcount increasing to 968 from 937 year-over-year, and utilization rates rising to 77%. The company also reported that revenues from fixed-price projects increased to 23% of net revenues for the quarter, compared to 16% in the previous year, indicating a shift towards more stable revenue streams. International revenues accounted for approximately 22% of total revenues, up from 19% in the prior year.
In terms of strategic developments, CRA International has been actively managing its capital structure, with significant borrowings under its revolving credit facility increasing to $219 million as of July 4, 2026, compared to $34 million at the beginning of the year. The company has also continued its share repurchase program, retiring 192,945 shares during the quarter. Looking ahead, CRA International anticipates that its current cash reserves and available credit will be sufficient to meet operational needs for at least the next 12 months, although it remains cautious about potential future acquisitions and market conditions that could impact cash flow and profitability.
About CRA INTERNATIONAL, INC.
CRA International, Inc. is a global consulting firm providing economic, financial, and management advisory services. It specializes in litigation support, regulatory analysis, business strategy, and performance improvement across diverse industries. The company serves law firms, corporations, and government agencies worldwide, leveraging expert analysis, industry knowledge, and a network of top professionals to help clients navigate complex legal, regulatory, and strategic challenges.
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