CRA International Inc (CRAI) News & EventsCRAICRA International Inc

Charles River Associates Expands Credit Facility to $400 Million

Charles River Associates announced an increase and extension to its existing credit facility with a bank syndicate comprised of six lenders. The five-year credit facility is for an aggregate principal amount of up to $400 million, consisting of a $75 million term loan and a $325 million revolving credit facility. The revolving credit facility may be decreased at CRA's option to $250 million for the period of July 16 to January 15 of each year, during which time CRA's working capital needs are typically diminished. Additionally, for the period of January 16 to July 15 of each year, CRA may elect not to increase the revolving credit facility from $250 million to $325 million. The facility amends and increases CRA's existing revolving credit facility, which was for an aggregate principal amount of up to $300 million and was scheduled to mature in August 2027. Proceeds will be used to repay outstanding amounts under the existing credit facility and will provide working capital to drive continued growth in the business and fund other general corporate purposes.

Maleh Reaffirms Fiscal 2026 Revenue Guidance of $785M to $805M

"We are reaffirming our financial guidance for full-year fiscal 2026 of revenue in the range of $785 million to $805 million and non-GAAP EBITDA margin in the range of 12.0% to 13.0%, both on a constant currency basis relative to fiscal 2025," said Maleh. "We are encouraged by the strong start to the year, supportive market trends, and the continued replenishing of our sales pipeline. However, we remain mindful that evolving geopolitical, global macroeconomic, and business conditions can affect our business."

CRA Reports Q1 Revenue of $201M

Reports Q1 revenue $201M, consensus $193.82M. "Maintaining the momentum of a record fiscal 2025, CRA continued its strong performance into the first quarter of fiscal 2026 as revenue increased by 10.5% year over year to $201.0 million," said Paul Maleh, CRA's President and Chief Executive Officer. "This represents the highest quarterly revenue in the company's history, besting the previous record set by the fourth quarter of fiscal 2025. Broad-based contributions drove the quarter's strong performance, with eight practices growing year over year. Four practices-Energy, Finance, Forensic Services, and Life Sciences-posted double-digit revenue growth, while the Antitrust & Competition Economics practice posted a new high for quarterly revenue. This strong practice performance reflected balanced growth across our portfolio, as our Legal & Regulatory offerings grew 11.5% year over year and Management Consulting offerings expanded 8.3%. We also generated growth across our geographies, with our North American operations increasing revenue by 8.5% and our international operations expanding 20.3% year over year."