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Companies · CRAI

CRAI Reported this cycle

CRA International

Boston, MA Founded 1965 Professional Services & Consulting

AI-generated · informational only · not investment advice · verify before relying.

Latest analysis

Updated Nov 5, 2026

CRA Q3 2026: Record $214.9M Revenue, 15.6% YoY Growth; FY26 Guidance Raised to $830–840M

CRA delivered its strongest quarter on record with $214.9 million in revenue, up 15.6% year-over-year, driven by broad-based strength across seven practices representing 95% of revenue and record-setting performance in Antitrust & Competition Economics, Forensic Services, and Life Sciences. Consultant headcount grew 6.2% to 1,028, utilization improved to 78%, and new project originations surged over 20% year-over-year, supporting raised full-year FY2026 guidance to $830–840 million and narrowed non-GAAP EBITDA margin guidance to 12.2–12.8%, compared with prior ranges of $805–820 million and 12.0–13.0%.

Tone: bullish

Revenue

$751.6M

CRAI 10-K · FY 2026

Employees

959

Revenue FY2024

$687.4M

EBITDA margin

12.3%

Profile

CRAI 10-K Item 1 · Feb 26, 2026

CRA International is a global consulting firm specializing in economic, financial, and management consulting services. The firm serves corporations and law firms across litigation support, regulatory proceedings, and strategic advisory engagements. Its practice spans antitrust, damages, forensic accounting, transfer pricing, and corporate strategy across more than a dozen industry verticals.

Read filing description ↓

We are a leading global consulting firm specializing in providing economic, financial and management consulting services. We advise clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guide corporations through critical business strategy and performance-related issues. Since our inception in 1965, we have been engaged by clients for our unique combination of functional expertise and industry knowledge, and for our objective solutions to complex problems. We combine economic and financial analysis with expertise in litigation and regulatory support, business strategy and planning, market and demand forecasting, and policy analysis. We are often retained in high-stakes matters, such as multibillion-dollar mergers and acquisitions, new product introductions, major strategy and capital investment decisions, and complex litigation, the outcomes of which often have significant consequences for the parties involved. We offer consulting services in two broad areas: litigation, regulatory, and financial consulting and management consulting. We provide our consulting services primarily through our highly credentialed and experienced staff of employee consultants. Our employee consultants have backgrounds in a wide range of disciplines, including economics, business, corporate finance, materials sciences, accounting, and engineering. Our business is diversified across multiple dimensions, including service offerings and vertical industry coverage, as well as areas of functional expertise, client base, and geography. We believe this diversification reduces our dependence on any particular market, industry, or geographic area. We deliver our services through an international network of coordinated offices. Headquartered in Boston, Massachusetts, we have offices throughout the Americas, Europe, and Australia.

Primary products

  • Antitrust Litigation
  • Damages & Valuation
  • Financial Accounting & Valuation
  • Financial Economics
  • Forensic & Cyber Investigations
  • Insurance Economics

Business segments

Litigation, Regulatory, and Financial Consulting Management Consulting

End markets

Blockchain, Cryptocurrency, and Digital Assets Communications and Media Consumer Products, Health, and Wellness Energy Entertainment and Leisure Financial Services Healthcare Life Sciences Manufacturing and Industrials Natural Resources Retail and Distribution Technology Transportation

Geographies

Americas Europe Australia

Named customers

Paramount Skydance Corporation Canadian Competition Bureau Compass Silicon Valley-based technology company

no single client accounting for more than 10% of our revenues in any of fiscal 2025, fiscal 2024, or fiscal 2023

“We are a leading global consulting firm specializing in providing economic, financial and management consulting services.” Competitive position, as stated in the filing

Revenue commentary · FY 2026

Revenues grew from $687.4 million in fiscal 2024 to $751.6 million in fiscal 2025, driven by higher consultant utilization, which reached 77% in fiscal 2025 versus 75% in fiscal 2024.

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