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CRA International

Logo: Charles River Associates, Public domain, via Wikimedia Commons4

American consultancy firm

CRA International, Inc. (doing business as Charles River Associates) is a global consulting firm headquartered in Boston. The firm provides expert testimony and litigation support, strategic advice, and analysis to law firms, corporations, accounting firms, and governments.3 Its shares trade on Nasdaq under the symbol CRAI.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$751.6MRevenue, fiscal 20265
$54.8MNet income, fiscal 20265
1965Founded1

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  • TickerCRAI on Nasdaq1
  • IndustryServices-Legal Services1
  • HeadquartersBoston1
  • Websitewww.crai.com
  • Incorporated inMA6
  • Business address200 Clarendon Street, T-9, Boston, Ma 021166
  • Filer categoryLarge accelerated filer6

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John Hancock Tower
Photo: Tomtheman5, CC BY-SA 3.0, via Wikimedia Commons9

CRA International, Inc. (doing business as Charles River Associates) is a global consulting firm headquartered in Boston. The firm provides expert testimony and litigation support, strategic advice, and analysis to law firms, corporations, accounting firms, and governments.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

11.1%Operating margin5
7.3%Net margin5
25.6%Return on equity5
$18.6MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 80% of the revenue CRA International broke down this way in fiscal 2025.

  1. United States$602.2M580%up 8% from 2024
  2. United Kingdom$101.2M513%up 17% from 2024
  3. Countries Other Than United States United Kingdom$48.2M56%up 14% from 2024
Regions by year
Regions202320242025
United States$493.9M$558.8M$602.2M
United Kingdom$94.4M$86.5M$101.2M
Countries Other Than United States United Kingdom$35.6M$42.1M$48.2M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Selling, general and admin18¢$135.0M
  • Other costs72¢$540.0M
  • Income tax3¢$21.8M
  • Profit7¢$54.8M

Out of $751.6M in revenue.5

Where each dollar of operating cash went, fiscal 2026

  • Capital spending6¢$3.9M
  • Dividends paid21¢$13.8M
  • Share buybacks73¢$47.1M

Out of $22.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue1011125$751.6M in 2026+67% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $451.4M$451.4M20192021: $508.4M$508.4M2021+13%2022: $590.9M$590.9M2022+16%2023: $624.0M$624.0M2023+6%2024: $687.4M$687.4M2024+10%2026: $751.6M$751.6M2026+9%
Operating income1011125$83.1M in 2026+183% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $29.3M$29.3M20192021: $34.8M$34.8M2021+19%2022: $58.7M$58.7M2022+69%2023: $57.5M$57.5M2023−2%2024: $70.8M$70.8M2024+23%2026: $83.1M$83.1M2026+17%
Net income1011125$54.8M in 2026+164% since 2019
0$20.0M$40.0M$60.0M2019: $20.7M$20.7M20192021: $24.5M$24.5M2021+18%2022: $43.6M$43.6M2022+78%2023: $38.5M$38.5M2023−12%2024: $46.7M$46.7M2024+21%2026: $54.8M$54.8M2026+17%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenues$751.6M$687.4M$624.0M
Costs of services (exclusive of depreciation and amortization)$519.3M$479.9M$439.8M
Selling, general and administrative expenses$135.0M$125.0M$115.1M
Depreciation and amortization$14.1M$11.7M$11.6M
Income from operations$83.1M$70.8M$57.5M
Interest expense, net-$5.4M-$4.4M-$3.8M
Foreign currency gains (losses), net-$1.2M-$92.0K-$1.4M
Income before provision for income taxes$76.6M$66.2M$52.3M
Provision for income taxes$21.8M$19.6M$13.8M
Net income$54.8M$46.7M$38.5M
Basic (in dollars per share)$8.23$6.82$5.48
Diluted (in dollars per share)$8.14$6.74$5.39
Basic (in shares)6.6M shares6.8M shares7.0M shares
Diluted (in shares)6.7M shares6.9M shares7.1M shares

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Corporate structure

CRA International sits at the top of its group. 9 entities, 8 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of CRA International

  • CRA International Boston
    • CRA International (Brasil) Ltda Subsidiary · Brazil
    • CRA International (Germany) GmbH Subsidiary · Germany
    • CRA International (Netherlands) BV Subsidiary · Netherlands
    • CRA International (Norway) AS Subsidiary · Norway
    • CRA International (Saudi Arabia) LLC Subsidiary · Saudi Arabia
    • CRA International (Switzerland) GmbH Subsidiary · Switzerland
    • CRA International (UK) Limited Subsidiary · United Kingdom
    • CRA Investigations LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CRA International reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$120.6M5 Jan 3, 2026$119.4M5 Dec 28, 2024+1.0%
Accumulated depreciation$83.9M5 Jan 3, 2026$74.2M5 Dec 28, 2024+13.0%
Property and equipment, net$36.7M5 Jan 3, 2026$45.2M5 Dec 28, 2024−18.8%
Operating-lease assets (leased space)$76.1M5 Jan 3, 2026$81.2M5 Dec 28, 2024−6.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$18.2M5 Jan 3, 2026$26.7M5 Dec 28, 2024−31.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$94.7M5 Jan 3, 2026$93.7M5 Dec 28, 2024+1.0%
Intangible assets, net (excluding goodwill)$5.7M5 Jan 3, 2026$7.2M5 Dec 28, 2024−21.2%
Finite-lived intangibles, net$5.7M5 Jan 3, 2026$7.2M12 Dec 28, 2024−21.2%

Properties, in its own words

In the aggregate, as of January 3, 2026, we leased approximately 407,000 square feet of office space in locations around the world, including Boston, Oakland, New York, Chicago, London, and Washington, D.C.

All of our offices are electronically linked and have access to our core consulting tools. We believe our existing office space is adequate to meet our current requirements and that suitable space will be available as needed.

Item 2 of the 10-K filed Feb 26, 2026.17

The story

CRA was founded in 1965 by Jerry Kraft, John Kaler, and Alan Willens. The company went public through an initial public offering in April 1998.

In 2005, CRA acquired economic consultancy firm Lexecon to expand its practice into Europe and the United Kingdom.

Marakon, which CRA acquired in 2009, forms part of their management consulting practice. Marakon Associates was founded in 1978 and pioneered value-based management (VBM) in the mid-1980s based on the academic work of Dr. Bill Alberts. This management principle, also known as managing for value (MFV), states that management should first and foremost consider the interests of shareholders when making management decisions. Under this principle, senior executives should set performance targets in terms of delivering shareholder returns (stock price and dividends payments) and managing to achieve them.

In 2017, CRA acquired life sciences strategy firm C1 Consulting. In 2022, CRA acquired life sciences firm bioStrategies Group and labor-focused firm Welch Consulting.

Economic forecasts used to oppose climate policymaking

Prior to the 1992 Earth Summit in Rio de Janeiro and the 1997 Kyoto summit (that led to the Kyoto Protocol), the fossil fuel industry used reports authored by CRA and funded by the fossil fuel industry to argue that US compliance with climate policy would be economically disastrous. CRA called the Clinton administration's projections for costs of compliance with the Kyoto Protocol wildly optimistic, and argued that compliance would take a "healthy whack out of the economy". CRA's work forecasting the impact on employment of the 2003 Climate Stewardship Act was criticized by the Natural Resources Defense Council in 2005 for using unrealistic economic assumptions and producing directionally incorrect estimates. According to a 2021 study, flawed economic forecasting reports written by four economists at Charles River Associates between 1991 and 2009, and paid for by fossil fuel interests, overestimated predicted costs and ignored potential policy benefits. The study argues that the reports written by CRA "played a key role in weakening, delaying, or defeating a wide range of climate policies".

From Wikipedia’s article on CRA International, shared under CC BY-SA 4.0.7

Leadership

Who has led CRA International, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. James C. Burrows2006–2009
  2. Paul A. Maleh2010–now

President

  1. James C. Burrows2006–2009
  2. Paul A. Maleh2010–now

Chief financial officer

  1. Wayne D. Mackie2007–2014
  2. Chad M. Holmes2014–2020
  3. Eric Nierenberg2025–now

Chief operating officer

  1. Paul A. Maleh2008–2009
  2. Monica G. Noether2010–2012
197019801990200020102020
Board members and other officers (35)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • CRA International (Brasil) Ltda Brazil8
  • CRA International (Germany) GmbH Germany8
  • CRA International (Netherlands) BV Netherlands8
  • CRA International (Norway) AS Norway8
  • CRA International (Saudi Arabia) LLC Saudi Arabia8
  • CRA International (Switzerland) GmbH Switzerland8
  • CRA International (UK) Limited United Kingdom8
  • CRA International Limited Canada8
  • CRA Investigations LLC Delaware8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • CHARLES RIVER ASSOCIATES INCOct 23, 1998 to Apr 6, 20056

Timeline

  1. Aug 6, 20268-K Results of operations; Regulation FD disclosure56
  2. Jul 22, 20268-K Shareholder vote57
  3. May 7, 20268-K Results of operations; Regulation FD disclosure58
  4. Apr 2, 20268-K Executive or director change; Regulation FD disclosure59
  5. Feb 26, 20268-K Results of operations; Regulation FD disclosure60
  6. Oct 30, 20258-K Results of operations; Regulation FD disclosure61
  7. Jul 31, 20258-K Results of operations; Regulation FD disclosure62
  8. Jul 22, 20258-K Executive or director change; Shareholder vote; Regulation FD disclosure63
  9. May 1, 20258-K Results of operations; Regulation FD disclosure64
  10. Mar 13, 20258-K Executive or director change; Regulation FD disclosure65
  11. Feb 20, 20258-K Results of operations; Regulation FD disclosure66
  12. Oct 31, 20248-K Results of operations; Regulation FD disclosure67
  13. Feb 16, 2010New chief executive Paul A. Maleh becomes CEO18
  14. Apr 25, 2006New chief executive James C. Burrows becomes CEO19
  15. Jun 29, 1998Went public Listed on NASDAQ1
  16. 1965Founded Founded1

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $2.06 a share, on Oct 30, 2025.68

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results56
  2. May 7, 2026Reported quarterly or annual results58
  3. Feb 26, 2026Reported quarterly or annual results60
  4. Oct 30, 2025Reported quarterly or annual results61
  5. Jul 31, 2025Reported quarterly or annual results62
  6. May 1, 2025Reported quarterly or annual results64
  7. Feb 20, 2025Reported quarterly or annual results66
  8. Oct 31, 2024Reported quarterly or annual results67

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

453 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 34 major events, 308 insider forms, 26 large holders, 65 other. The latest 20:

  1. Sep 16, 20264 EDGAR
  2. Sep 16, 20264 EDGAR
  3. Sep 16, 20264 EDGAR
  4. Sep 16, 20264 EDGAR
  5. Sep 16, 20264 EDGAR
  6. Sep 2, 20264 EDGAR
  7. Aug 31, 2026144 EDGAR
  8. Aug 27, 20264 EDGAR
  9. Aug 25, 2026144 EDGAR
  10. Aug 11, 20264 EDGAR
  11. Aug 10, 20264 EDGAR
  12. Aug 10, 20264 EDGAR
  13. Aug 6, 202610-Q EDGAR
  14. Aug 6, 20268-K EDGAR
  15. Aug 6, 2026SCHEDULE 13G/A EDGAR
  16. Jul 31, 2026SCHEDULE 13G EDGAR
  17. Jul 27, 2026SCHEDULE 13G/A EDGAR
  18. Jul 27, 20264 EDGAR
  19. Jul 23, 2026144 EDGAR
  20. Jul 22, 20268-K EDGAR

The 453 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

53 open-market trades by officers, directors and large owners since October 2021: 0 buys and 53 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 31, 2026Maleh Paul APRESIDENT AND CEOSale7,500$172.78$1.3MForm 4
Aug 25, 2026Yellin Jonathan DEVP AND GENERAL COUNSELSale2,250$173.25$389.8KForm 4
Jul 23, 2026Tookes HeatherDirectorSale88$165.90$14.6KForm 4
Jul 16, 2026Tookes HeatherDirectorSale124$173.31$21.5KForm 4
Jun 3, 2026Maleh Paul APRESIDENT AND CEOSale7,500$136.83$1.0MForm 4
May 19, 2026Yellin Jonathan DEVP AND GENERAL COUNSELSale2,250$147.72$332.4KForm 4
Mar 17, 2026Maleh Paul APRESIDENT AND CEOSale7,500$155.50$1.2MForm 4
Mar 5, 2026Yellin Jonathan DEVP AND GENERAL COUNSELSale2,250$182.27$410.1KForm 4
Mar 4, 2026Avery Thomas AikenDirectorSale1,026$187.35$192.2KForm 4
Dec 11, 2025Tookes HeatherDirectorSale110$198.12$21.8KForm 4
Dec 3, 2025Maleh Paul APRESIDENT AND CEOSale7,500$182.97$1.4MForm 4
Nov 20, 2025Yellin Jonathan DEVP AND GENERAL COUNSELSale1,750$174.38$305.2KForm 4
Aug 20, 2025Yellin Jonathan DEVP AND GENERAL COUNSELSale1,750$187.43$328.0KForm 4
Aug 14, 2025Maleh Paul APRESIDENT AND CEOSale7,500$186.92$1.4MForm 4
Aug 8, 2025Maleh Paul APRESIDENT AND CEOSale4,800$185.75$891.6KForm 4
Aug 7, 2025Maleh Paul APRESIDENT AND CEOSale5,200$187.16$973.2KForm 4
Jul 24, 2025Tookes HeatherDirectorSale88$177.03$15.6KForm 4
Jul 16, 2025Tookes HeatherDirectorSale124$188.84$23.4KForm 4
May 20, 2025Maleh Paul APRESIDENT AND CEOSale7,500$190.62$1.4MForm 4
May 12, 2025Yellin Jonathan DEVP AND GENERAL COUNSELSale1,750$188.46$329.8KForm 4

All 53 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Paul MalehPresident, chief executive officer and chairman of the board62$900.0K$4.2M78
2025Chad HolmesExecutive vice president and chief corporate development officer53$500.0K$1.6M78
2025Jonathan YellinExecutive vice president and general counsel62$500.0K$1.4M78
2025Brian LanganExecutive vice president and chief strategy and business transformation officer46$325.1K$1.1M78
2025Eric NierenbergExecutive vice president, chief financial officer and treasurer51$325.1K$996.9K78
2025Daniel MahoneyFormer executive vice president, chief financial officer and treasurer$153.8K$166.0K78
2024Paul MalehPresident, chief executive officer and chairman of the board62$900.0K$4.2M78
2024Chad HolmesExecutive vice president and chief corporate development officer53$500.0K$2.8M78
2024Daniel MahoneyFormer executive vice president, chief financial officer and treasurer$500.0K$1.6M78
2024Jonathan YellinExecutive vice president and general counsel62$500.0K$1.4M78
2023Paul MalehPresident, chief executive officer and chairman of the board62$900.0K$3.6M78
2023Daniel MahoneyFormer executive vice president, chief financial officer and treasurer$450.0K$1.2M78
2023Chad HolmesExecutive vice president and chief corporate development officer53$450.0K$1.2M78
2023Jonathan YellinExecutive vice president and general counsel62$450.0K$1.1M78

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$131.8M 2008–2025
Money received by yearMoney received by year, 2008–2025: $131.8M in all. Federal grants $1.3M; Federal contracts $130.5M.$0$10M$20M$30M2008 · Federal contracts: $6.9M20082009 · Federal contracts: $1.9M2010 · Federal contracts: $2.3M20102011 · Federal contracts: $2.0M2012 · Federal grants: $1.3M2012 · Federal contracts: $3.3M20122013 · Federal contracts: $3.5M2014 · Federal contracts: $14.0M20142015 · Federal contracts: $8.9M2016 · Federal contracts: $9.2M20162017 · Federal contracts: $4.7M2018 · Federal contracts: $4.1M20182019 · Federal contracts: $5.5M2020 · Federal contracts: $10.1M20202021 · Federal contracts: $11.2M2022 · Federal contracts: $10.5M20222023 · Federal contracts: $22.5M2024 · Federal contracts: $8.6M20242025 · Federal contracts: $1.4M2025
Without federal contracts$1.3M 2012–2012
Without federal contractsWithout federal contracts, 2012–2012: $1.3M in all. Federal grants $1.3M.$0$500K$1M$1.5M2012 · Federal grants: $1.3M2012
Figures by year
YearFederal grantsFederal contractsTotal
2025–$1.4M$1.4M
2024–$8.6M$8.6M
2023–$22.5M$22.5M
2022–$10.5M$10.5M
2021–$11.2M$11.2M
2020–$10.1M$10.1M
2019–$5.5M$5.5M
2018–$4.1M$4.1M
2017–$4.7M$4.7M
2016–$9.2M$9.2M
2015–$8.9M$8.9M
2014–$14.0M$14.0M
2013–$3.5M$3.5M
2012$1.3M$3.3M$4.6M
2011–$2.0M$2.0M
2010–$2.3M$2.3M
2009–$1.9M$1.9M
2008–$6.9M$6.9M

Federal awards

Obligated amounts from USAspending.gov79, by calendar year, 2008–2025, for its registration. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest contracts

  1. Jan 18, 2023$15.4M from Federal Trade Commission: Expert support services80 To CRA INTERNATIONAL, INC. Award 29FTC123C0013
  2. Mar 20, 2015$6.0M from Federal Trade Commission: Expert services: igf::ot::igf81 To CRA INTERNATIONAL, INC. Award FTC15H5053
  3. Dec 11, 2019$5.5M from Federal Trade Commission: Expert in support.82 To CRA INTERNATIONAL, INC. Award 29FTC120C0019
  4. Oct 24, 2013$4.3M from Offices, Boards and Divisions: Igf::cl::igf83 To CRA INTERNATIONAL, INC. Award DJJ4WATR010077
  5. May 6, 2014$4.0M from Offices, Boards and Divisions: Igf::cl::igf84 To CRA INTERNATIONAL, INC. Award DJJ4WATR010137

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.643,011$91.5M0.0%+49,299
Fmr LLC470,178$66.9M0.0%−100,002
Vanguard Capital Management LLC277,242$39.5M0.0%+202
Two Sigma Investments, LP261,679$37.2M0.0%−20,330
Needham Investment Management LLC215,506$30.7M0.9%+75,500
Dimensional Fund Advisors LP195,382$27.8M0.0%+2,505
Renaissance Technologies LLC181,775$25.9M0.0%−42,700
Point72 Asset Management, L.P.180,162$25.6M0.0%+116,235
Geode Capital Management, LLC166,721$23.7M0.0%+7,118
Jane Street Group, LLC152,949$21.8M0.0%+8,515
State Street Corp147,422$21.0M0.0%+5,954
Jupiter Topco LLC140,308$20.0M0.0%New
Wellington Management Group Llp133,137$18.9M0.0%+21,696
Aqr Capital Management LLC111,889$15.9M0.0%+73,336
Morgan Stanley100,511$14.3M0.0%−8,374
Qube Research & Technologies Ltd99,024$14.1M0.0%+31,621
Pembroke Management, LTD85,574$12.2M0.9%+43,478
Vanguard Portfolio Management LLC85,291$12.1M0.0%−9,109
Trexquant Investment LP84,155$12.0M0.1%+27,525
Rice Hall James & Associates, LLC77,762$11.1M0.5%+2,384
Northern Trust Corp71,384$10.2M0.0%+1,981
Bnp Paribas Financial Markets65,348$9.3M0.0%+8,664
Citadel Advisors LLC62,456$8.9M0.0%−4,571
Millennium Management LLC61,340$8.7M0.0%−22,815
Norges Bank60,200$8.6M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How CRA International is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCRA INTERNATIONAL, INC.2
  • CIK0001053706
  • Employer ID (EIN)04-237221017
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inMassachusetts17
  • Fiscal year endsJanuary 22
  • Industry code (SIC)8111 Services-Legal Services2
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance2
  • Business address200 Clarendon Street, T-9, Boston, MA 021162
  • Phone61742530002
  • Shares outstanding6,276,860 as of Jul 31, 202614
  • Public float$1.2B as of Jun 27, 202517
  • AuditorGRANT THORNTON LLP, Boston, Massachusetts PCAOB ID 248; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceFeb 26, 19982
  • Filings1,621 in all: 4 (861), 8-K (242), SC 13G/A (125), 10-Q (85), 144 (50), SC 13G (32), DEF 14A (27), 10-K (26)2
    All 44 form types

    3 (26), ARS (18), UPLOAD (14), DEFA14A (12), S-8 (12), CORRESP (10), 8-K/A (8), 4/A (7), 424B3 (7), SCHEDULE 13G/A (6), S-3 (5), SC TO-I/A (5), 10-K/A (4), 10-Q/A (4), S-3/A (4), 424B1 (3), 10-K405 (2), 5 (2), DEFR14A (2), DEFS14A (2), POS EX (2), S-1/A (2), SC TO-C (2), SC TO-I (2), 3/A (1), 424B5 (1), 8-A12G (1), EFFECT (1), POS AM (1), PRE 14A (1), PRES14A (1), S-1 (1), SC 13D (1), SC 13D/A (1), SC TO-T (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 24, 2026
    Latest 8-K (8-K) Aug 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, no par valueCRAINasdaq Global Select Market

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks CRA International names in Item 1A of its 10-K filed Feb 26, 2026: 29 risks under these headings, as written.17

  • Risks Related to Our People
  • We depend upon key employees to generate revenue
  • Our business could suffer if we are unable to hire and retain additional qualified consultants as employees
  • Maintaining our professional reputation is crucial to our future success
  • We depend on our non-employee experts
  • Additional hiring and business acquisitions could disrupt our operations, increase our costs, or adversely affect our results
  • Risks Related to Our Client Relationships
  • Clients can terminate engagements with us at any time
  • Information, technology systems or service failures, or a cybersecurity incident or other compromise of our or our client's confidential or proprietary information, as well as any violation of data protection laws, could have a material adverse effect on our reputation, business and results of operations
  • Potential conflicts of interests may preclude us from accepting some engagements
  • We derive revenue from a limited number of large engagements
  • Our clients may be unable or unwilling to pay us for our services
The other 20 risks
  • Risks Related to Our Operations
  • Changes in global economic, business, health and political conditions could have a material adverse impact on our revenues, results of operations, and financial condition
  • Our results of operations and consequently our business may be adversely affected if we are not able to maintain our current bill rates, compensation costs and/or utilization rate
  • The interpretation and application of tax legislation or other changes in taxation of our operations could harm our business, revenue, cash flows and financial results
  • Increasing scrutiny and changing expectations from governmental organizations, investors, clients and our colleagues with respect to our sustainability-related practices and those of our clients may impose additional costs on us or expose us to new or additional risks
  • Our revenues, operating results and cash flows are likely to fluctuate
  • Fluctuations in our quarterly revenues and results of operations could depress the market price of our common stock
  • Changes in financial accounting standards or practices may cause unexpected financial reporting fluctuations and affect our reported results of operations
  • Our failure to execute our business strategy or manage future growth successfully could adversely affect our revenues and results of operations
  • Our engagements may result in professional liability and we may be subject to other litigation, claims or assessments
  • We may need to take material write-offs for the impairment of goodwill, including if our market capitalization declines
  • Our performance could be affected if employees and non-employee experts default on loans
  • Fluctuations in the types of service contracts we enter into may adversely impact revenue and results of operations
  • We could incur substantial costs protecting our proprietary rights from infringement or defending against a claim of infringement
  • Risks Related to Our Competition
  • Competition from other litigation, regulatory, financial, technology and management consulting firms could hurt our business
  • Risks Related to Our International Operations
  • Our international operations create risks
  • Fluctuations in currency exchange rates could adversely affect our operations
  • Risks Related to Our Indebtedness
  • Our debt obligations may adversely impact our financial performance
  • Risks Related to Our Common Stock
  • The market price of our common stock may be volatile
  • There can be no assurance that we will continue to declare cash dividends at all or in any particular amounts
  • Our stock repurchase programs could affect the market price of our common stock and increase its volatility
  • Our charter and by-laws, and Massachusetts law may deter takeovers

Sources

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