CRAI

EX-99.1

2 craiq1-20268xkexx991xpress.htm

EX-99.1

Document

Exhibit 99.1

Contacts:

Eric NierenbergNicholas Manganaro

Charles River AssociatesSharon Merrill Advisors

investor@crai.comcrai@investorrelations.com

617-425-3020617-542-5300

CHARLES RIVER ASSOCIATES (CRA) REPORTS

FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2026

Broad-based Contributions Drive Record Quarterly Revenue

BOSTON, May 7, 2026 – Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results for the fiscal first quarter ended April 4, 2026.

“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.”

Highlights for First Quarter Fiscal 2026

•Revenue grew 10.5% year over year to $201.0 million.

•Utilization was 77% and quarter-end headcount increased 2.5% year over year.

•Net income decreased 38.2% year over year to $11.1 million, or 5.5% of revenue, compared with $18.0 million, or 9.9% of revenue, in the first quarter of fiscal 2025; non-GAAP net income decreased 14.1% year over year to $13.1 million, or 6.5% of revenue, compared with $15.3 million, or 8.4% of revenue, in the first quarter of fiscal 2025.

•Earnings per diluted share decreased 35.5% year over year to $1.69 from $2.62 in the first quarter of fiscal 2025; non-GAAP earnings per diluted share decreased 10.4% year over year to $1.99 from $2.22 in the first quarter of fiscal 2025.

•Non-GAAP EBITDA decreased 6.5% to $23.2 million, or 11.5% of revenue, compared with $24.8 million, or 13.6% of revenue, in the first quarter of fiscal 2025.

•On a constant currency basis relative to the first quarter of fiscal 2025, revenue, GAAP net income, and earnings per diluted share would have been lower by $2.6 million, $0.2 million and $0.04 per diluted share, respectively. Non-GAAP net income, non-GAAP earnings per diluted share, and non-GAAP EBITDA would have been lower by $0.2 million, $0.04 per diluted share and $0.3 million, respectively.

•CRA returned $25.3 million of capital to its shareholders, consisting of $3.8 million of dividend payments and $21.5 million for share repurchases of approximately 116,000 shares.

Management Commentary and Financial Guidance

“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 does not provide reconciliations of its annual non-GAAP EBITDA margin guidance to GAAP net income margin because the Company is unable to estimate with reasonable certainty and without unreasonable effort: (i) unusual gains or charges, foreign currency exchange rates and the resulting effect of these items on CRA’s taxes and (ii) the impact of equity awards on CRA’s taxes. These items are uncertain, depend on various factors, and may have a material effect on CRA’s results computed in accordance with

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GAAP. A reconciliation between the historical GAAP and non-GAAP financial measures presented in this press release is provided in the financial tables at the end of this press release.

Quarterly Dividend

On May 7, 2026, CRA announced a quarterly cash dividend of $0.57 per common share, payable on June 12, 2026 to shareholders of record as of May 26, 2026. CRA expects to continue paying quarterly dividends, the declaration, timing and amounts of which remain subject to the discretion of CRA’s Board of Directors.

Conference Call Information and Prepared CFO Remarks

CRA will host a conference call today at 10:00 a.m. ET to discuss its first-quarter 2026 financial results. To listen to the live call, please

crai-202602250001053706FALSE00010537062026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 26, 2026

CRA INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Massachusetts000-2404904-2372210 (State or other jurisdiction of incorporation)(Commission file number)(IRS employer identification no.)

200 Clarendon Street,Boston,Massachusetts02116 (Address of principal executive offices)(Zip code)

Registrant's telephone number, including area code:(617) 425-3000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Each Exchange on Which Registered Common Stock, no par valueCRAINasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 26, 2026, we issued a press release reporting our financial results for our fiscal quarter and fiscal year ended January 3, 2026. A copy of the press release is set forth as Exhibit 99.1 and is incorporated by reference herein. On February 26, 2026, we also posted on our website supplemental financial information, including prepared CFO remarks. A copy of the supplemental financial information is set forth as Exhibit 99.2 and incorporated by reference herein. The information contained in Item 2.02 of this report and Exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure. On February 26, 2026, we announced that our Board of Directors declared a quarterly cash dividend on our common stock of $0.57 per share to be paid on March 20, 2026 to all shareholders of record as of March 10, 2026. A copy of the press release is set forth as Exhibit 99.3 and is incorporated by reference herein. Also on February 26, 2026, we announced that our Board of Directors authorized a $55.0 million expansion to our existing share repurchase program, in addition to the $10.9 million currently remaining under the program. The information contained in Item 7.01 of this report and Exhibit 99.3 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits

Number Title

99.1 February 26, 2026 earnings press release

99.2 Supplemental financial information (prepared CFO remarks)

99.3 February 26, 2026 dividend press release

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CRA INTERNATIONAL, INC.

Dated: February 26, 2026 By:/s/ ERIC NIERENBERG Eric Nierenberg Executive Vice President, Chief Financial Officer and Treasurer

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crai-202510300001053706FALSE00010537062025-10-302025-10-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 30, 2025

CRA INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Massachusetts000-2404904-2372210 (State or other jurisdiction of incorporation)(Commission file number)(IRS employer identification no.)

200 Clarendon Street,Boston,Massachusetts02116 (Address of principal executive offices)(Zip code)

Registrant's telephone number, including area code:(617) 425-3000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common Stock, no par valueCRAINasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition On October 30, 2025, we issued a press release reporting our financial results for our fiscal quarter ended September 27, 2025. A copy of the press release is set forth as Exhibit 99.1 and is incorporated by reference herein. On October 30, 2025, we also posted on our website supplemental financial information, including prepared CFO remarks. A copy of the supplemental financial information is set forth as Exhibit 99.2 and incorporated by reference herein. The information contained in Item 2.02 of this report and Exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure On October 30, 2025, we announced that our Board of Directors declared a quarterly cash dividend on our common stock of $0.57 per share to be paid on December 12, 2025 to all shareholders of record as of November 25, 2025. A copy of the press release is set forth as Exhibit 99.3 and is incorporated by reference herein. The information contained in Item 7.01 of this report and Exhibit 99.3 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits (d) Exhibits

Number Title

99.1 October 30, 2025 earnings press release

99.2 Supplemental financial information (prepared CFO remarks)

99.3 October 30, 2025 dividend press release

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CRA INTERNATIONAL, INC.

Dated: October 30, 2025 By:/s/ ERIC NIERENBERG Eric Nierenberg Executive Vice President, Chief Financial Officer and Treasurer

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