Charles River Associates (CRA) is a global consulting firm that specializes in litigation, regulatory, financial, and management consulting. It provides economic and financial analysis to support litigation and regulatory proceedings, helping clients make informed choices in strategy and operations. Services include expert economic testimony, financial advisory, and custom consulting for corporations, law firms, and government agencies. CRA distinguishes itself through deep functional expertise and industry knowledge applied to complex problems, supported by offices around the world. The firm’s goal is to deliver objective, high-value analysis and advice that helps clients navigate legal, regulatory, and business challenges and improve decision-making and outcomes.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
City of Brussels, Belgium
Founded
1978
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Wellness Program
Flexible Work Hours
Remote Work Options
Professional Development Budget
Charles River Associates (NASDAQ: CRAI) has appointed Christopher Zealey as Vice President in its Life Sciences Practice. Zealey brings expertise in cross-functional and medical strategic planning, insight generation, scientific communication strategy, and clinical positioning. Before joining CRA, Zealey was a partner at a life sciences and pharmaceutical consulting firm, where he led client engagements across strategic planning, insight generation, and medical intelligence to support product launches. His experience includes leveraging data and stakeholder perspectives to inform strategy. CRA's Life Sciences Practice works with biotech, medical device, and pharmaceutical companies, as well as law firms and regulatory agencies. The firm has been expanding its capabilities to help clients navigate complex medical affairs and launch decisions. Zealey holds an MSc in Biotechnology from McGill University and a BSc in Microbiology from the University of Waterloo.
Charles River Associates has appointed Harvard Business School Professor Feng Zhu as an Academic Affiliate in its Antitrust & Competition Economics Practice. Zhu is the Harry E. Figgie, Jr. Professor of Business Administration at Harvard Business School, where he leads the Platform Lab within the AI Institute and co-chairs the Analytics Programme. His research focuses on digital transformation, competitive strategy, and the strategic behaviour of large technology companies. Zhu has advised global business leaders at firms including Alphabet, Meta, Microsoft, and Uber. Margaret Sanderson, Global Practice Leader of the Antitrust & Competition Economics Practice at CRA, said Zhu's expertise combines academic research with technology business knowledge. He also brings experience in antitrust and competition matters in China.
CRA International reported second-quarter revenue of $210.8 million and adjusted earnings per share of $2.16, both exceeding analyst expectations. The consulting firm saw 12.8% year-on-year revenue growth driven by double-digit expansion across Energy, Life Sciences, and Forensic Services practices. CEO Paul Maleh noted that eight practices, representing 95% of total revenue, grew year-on-year. Both North American and international operations contributed to the performance. During the earnings call, analysts questioned the sustainability of growth in management consulting and the potential impact of Department of Justice changes to merger reviews. Maleh highlighted historically high conversion rates in Life Sciences and Energy, whilst acknowledging challenges in forecasting from "unprecedented performance peaks". The company's market capitalisation stands at $1.06 billion.
CRA International reported 12.8% year-over-year revenue growth in Q2, reaching $210.8 million, with management consulting revenues up 25.5%. The firm raised its fiscal 2026 revenue guidance to $805-820 million from $785-805 million, supported by growth across eight practices representing 95% of revenues. However, profitability pressures persist. Cost of services rose to 71.3% of first-half revenues from 67.5% last year, whilst non-GAAP EBITDA margin declined to 12.1% from 13%. Management expects non-cash forgivable-loan amortisation to increase by roughly $15 million in fiscal 2026. First-half operating activities consumed $118.3 million in cash, up from $74.1 million previously. CRAI ended Q2 with $21.4 million cash and $197.6 million net debt. The stock trades at 18.7 times forward earnings, above the consulting sub-industry's 14.6 times multiple.
CRA International reported second-quarter revenue of $210.8 million, beating analyst estimates of $198.9 million and marking 12.8% year-on-year growth. The economic consulting firm's adjusted earnings per share of $2.16 also exceeded expectations. The company saw double-digit growth across six practices, including Energy, Life Sciences, and Forensic Services. Antitrust & Competition Economics achieved a quarterly revenue high. International revenues rose 32.9% year-on-year, driven by organic growth. CEO Paul Maleh cited "peak levels of new project opportunities and historically high conversion rates", particularly in Life Sciences and Energy. The company increased consultant headcount by 3.3%, with utilisation reaching 77%. Management attributed demand to rising legal case filings and record merger and acquisition activity, though cautioned that geopolitical and macroeconomic conditions could affect future performance.