CRA International (CRAI) Q3 FY2026 earnings: revenue $215 million, up 15.6% on the year

CRA International, Inc. (CRAI) reported revenue of $215 million for Q3 FY2026, the quarter ended 3 October 2026, up 15.6% on the same quarter a year earlier. Net income was $14 million, up 21.2% on the year, and diluted earnings per share $2.20. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$215 million

+15.6% on the year · +1.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

11.1%

9.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$14 million

+21.2% on the year · +2.9% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$2.20

+27.2% on the year · +4.8% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 1 kept.

Revenue rose 15.6% to $214.9 million: Revenue came to $214.9 million, against $185.9 million in the third quarter of fiscal 2025.
Non-GAAP EBITDA rose 11.2%: Non-GAAP EBITDA was $27.1 million, or 12.6% of revenue, against $24.4 million, or 13.1% of revenue, a year earlier.
Year-to-date results at company highs: On a constant currency basis, year-to-date revenue was $624.0 million and non-GAAP EBITDA $76.8 million, a 12.3% margin.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	215	211	186	+1.9%	+15.6%
Cost of revenue	152	149	131	+2.5%	+15.9%
Gross profit	62.5	62.1	54.4	+0.7%	+14.9%
Gross margin	29.1%	29.4%	29.3%
Selling, general and administrative	35.4	35.3	33.7	+0.4%	+5.0%
Operating income	23.9	23.5	17.2	+1.5%	+38.8%
Operating margin	11.1%	11.2%	9.3%
Interest expense	2.6	3.0	1.8	-11.7%	+49.1%
Pre-tax income	21.3	20.1	16.2	+6.1%	+31.6%
Income tax	7.4	6.6	4.8	+12.5%	+56.5%
Effective tax rate	34.8%	32.9%	29.3%
Net income	13.9	13.5	11.5	+2.9%	+21.2%
Net margin	6.5%	6.4%	6.2%
Diluted EPS	$2.20	$2.10	$1.73	+4.8%	+27.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	74.4	-4.4	36.5		+103.6%
Capital expenditure	1.2	1.6	0.7	-27.7%	+83.1%
Free cash flow	73.2	-6.1	35.9		+104.0%
Free cash flow margin	34.1%	-2.9%	19.3%
Cash from investing	-1.2	-1.6	-0.7
Cash from financing	-74.0	-5.2	-32.3
Depreciation and amortisation	3.2	3.3	3.5	-1.3%	-7.1%
Share-based compensation	1.4	2.4	1.6	-42.8%	-12.7%
Buybacks	0.0	27.8	4.0
Dividends paid	3.6	3.6	3.2	-0.8%	+11.2%
Dividend per share	$0.57	$0.57	$0.49	0.0%	+16.3%
Diluted shares, weighted	6m	6m	7m	-1.2%	-4.4%
Shares outstanding at period end	6m	6m	7m	+0.1%	-4.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	193	182	202	+6.0%	-4.4%
Debt	148	219	95.0	-32.5%	+55.7%
Operating lease liabilities	61.6	67.0	80.7	-8.0%	-23.7%
Other liabilities	278	211	252	+32.2%	+10.6%
Total liabilities and equity	681	678	629	+0.3%	+8.2%
Fixed assets	33.3	34.9	39.5	-4.6%	-15.5%
Goodwill	94.4	94.6	94.6	-0.2%	-0.2%
Intangible assets	4.5	4.9	6.1	-7.8%	-25.2%
Cash and equivalents	20.4	21.4	22.5	-4.9%	-9.3%
Receivables	175	168	152	+4.2%	+15.4%
Other assets	353	355	315	-0.5%	+12.2%
Total assets	681	678	629	+0.3%	+8.2%

Questions

What was CRA International's revenue in Q3 FY2026?

CRA International (CRAI) reported revenue of $215 million for Q3 FY2026, the quarter ended 3 October 2026, up 15.6% on the same quarter a year earlier.

How much did CRA International earn in Q3 FY2026?

Net income for Q3 FY2026 was $14 million, up 21.2% on the year, and diluted earnings per share $2.20.

When did CRA International report Q3 FY2026 results?

CRA International filed its 10-Q for the quarter ended 3 October 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	135	148	149	148	145	153	162	148	162	172	171	168	176	182	187	186	197	201	211	215
Cost of revenue	93.7	104	103	102	101	108	113	106	113	119	125	115	121	120	129	131	139	145	149	152
Gross profit	41.1	44.3	46.0	46.2	44.3	45.0	48.6	41.7	48.9	52.9	46.1	52.6	55.9	61.5	58.3	54.4	58.0	55.9	62.1	62.5
Gross margin	31%	30%	31%	31%	31%	29%	30%	28%	30%	31%	27%	31%	32%	34%	31%	29%	29%	28%	29%	29%
SG&A	25.6	25.8	28.0	28.2	28.1	28.4	29.8	27.9	29.0	30.5	32.0	31.3	31.3	32.5	35.1	33.7	33.7	34.5	35.3	35.4
Operating income	12.4	15.5	15.0	14.9	13.3	13.7	15.9	10.8	17.1	19.6	11.3	18.4	21.5	25.5	19.7	17.2	20.6	18.0	23.5	23.9
Operating margin	9%	10%	10%	10%	9%	9%	10%	7%	11%	11%	7%	11%	12%	14%	11%	9%	10%	9%	11%	11%
Interest expense	0.2	0.2	0.5	0.7	0.5	0.6	1.6	1.0	0.6	0.5	1.5	1.5	1.0	0.4	1.8	1.8	1.4	1.0	3.0	2.6
Pre-tax income	11.9	15.5	16.2	15.9	11.1	12.6	13.6	10.5	15.6	19.0	9.6	16.0	21.6	24.6	17.1	16.2	18.6	17.4	20.1	21.3
Tax rate	27%	26%	28%	25%	22%	29%	30%	18%	26%	28%	32%	29%	31%	27%	29%	29%	29%	36%	33%	35%
Net income	8.7	11.4	11.6	11.9	8.7	8.9	9.5	8.6	11.5	13.7	6.5	11.4	15.0	18.0	12.1	11.5	13.2	11.1	13.5	13.9
Net margin	6%	8%	8%	8%	6%	6%	6%	6%	7%	8%	4%	7%	8%	10%	6%	6%	7%	6%	6%	6%
Diluted EPS	$1.14	$1.52	$1.57	$1.63	$1.19	$1.23	$1.34	$1.21	$1.62	$1.95	$0.94	$1.67	$2.18	$2.62	$1.79	$1.73	$1.99	$1.69	$2.10	$2.20
Operating cash flow	61.8	-61.8	-17.0	43.8	60.1	-70.1	5.1	65.0	60.1	-63.1	1.8	31.6	79.4	-80.0	5.9	36.5	60.0	-114	-4.4	74.4
Capital expenditure	0.9	1.3	0.7	0.9	0.8	0.6	0.7	0.7	0.4	0.7	2.3	3.0	10.6	1.0	1.2	0.7	1.1	2.6	1.6	1.2
Free cash flow	60.9	-63.2	-17.7	42.9	59.3	-70.6	4.4	64.2	59.7	-63.8	-0.5	28.6	68.8	-81.0	4.7	35.9	59.0	-117	-6.1	73.2
Buybacks	5.0	5.0	17.7	5.0	0.0	20.6	3.0	0.0	7.8	9.2	24.1	0.0	0.0	0.0	43.1	4.0	0.0	21.5	27.8	0.0
Dividends paid	2.4	2.4	2.3	2.2	2.7	2.7	2.5	2.5	3.0	3.1	2.9	2.9	3.5	3.5	3.4	3.2	3.7	3.8	3.6	3.6
Shares outstanding	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	7m	6m	6m	6m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 3 October 2026, filed 5 November 2026: the filing.