CRA International, Inc. reported a revenue increase of 9.3% for the fiscal year ending January 3, 2026, reaching $751.6 million, up from $687.4 million in the previous year. The company's net income also rose, amounting to $54.8 million, compared to $46.7 million in fiscal 2024, resulting in a diluted earnings per share of $8.14, up from $6.74. The increase in revenue was attributed to a rise in billable hours, which grew by 6.0%, and an increase in consultant utilization rates, which improved to 77% from 75% in the prior year.
In terms of operational changes, CRA International saw a slight increase in its consultant headcount, adding 13 consultants during the fiscal year. The company reported that 20% of its revenues were generated from international operations, a slight increase from 19% in the previous year. However, revenues from fixed-price engagements decreased to 17% of total revenues, down from 18% in fiscal 2024, while time-and-materials engagements increased to 83% of total revenues.
Strategically, CRA International has been active in expanding its share repurchase program, with the Board of Directors authorizing an additional $55 million for share buybacks in February 2026. The company has also maintained a strong focus on its employee compensation structure, with total costs of services rising by 8.2% to $519.3 million, primarily due to increased employee compensation and benefits. As of January 3, 2026, CRA employed 959 consultants, with approximately 79% of senior staff holding advanced degrees.
Looking ahead, CRA International expressed confidence in its ability to meet future capital and liquidity needs through existing cash reserves and cash generated from operations. The company has a revolving credit facility of $250 million, with $34 million drawn as of the end of the fiscal year. The management anticipates that cash flows from operations will be sufficient to support ongoing operations and potential growth initiatives, including hiring and acquisitions. The company remains vigilant regarding market conditions and potential risks that could impact its financial performance.
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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