0001053706-26-000014
SEC filingQ1 delivered $201.0M revenue with $18.0M operating income at 9.0% margin, but faced significant cash usage from operating activities due to timing of compensation payments and forgivable loan advances.
CRA International, Inc. reported Q1 FY2026 revenue of $201.0 million, operating income of $18.0 million achieving a 9.0% margin, and net income of $11.1 million. These results reflect the company's position as a leading economic and business consulting firm, where revenue stems from professional services across diverse practices. The operating margin demonstrates effective management of profitability amid cost dynamics, as higher revenue provided leverage despite pressures in service delivery costs.
Cash flow from operating activities was negative $113.9 million, leading to free cash flow of -$116.5 million after $2.6 million in capital expenditures. This outflow aligns with seasonal patterns in bonus payments and forgivable loan advances, which support talent acquisition and retention. Investors should view this as timing-related, with working capital normalization expected in subsequent quarters as receivables collect and payables stabilize.