TOI
The Oncology Institute, Inc.3.8400
+0.0700+1.86%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Cap deals detailed; MA rates tailwind.
Q&A unpacked Florida capitation upside, confirming plans to double the Elevance partnership while adding Humana and CarePlus as net-new logos in a TAM many multiples larger. Management targets 85% MLR on delegated contracts by late 2026 with no aggregate gross margin dip despite ramps; fee-for-service growth flattens from cap cannibalization. Medicare Advantage rate pressure emerged as a tailwind, spurring payer demand without eroding terms thanks to TOI's hybrid employed-network control. Network swells to nearly 300 sites; AI efficiencies hit $2M SG&A savings. Answers reaffirmed guidance. MA rates boost demand.
Key Stats
Market Cap
377.78MP/E (TTM)
-Basic EPS (TTM)
-0.64Dividend Yield
0%Recent Filings
8-K
Investor presentation furnished
10-K
FY2025 results
The Oncology Institute posted FY2025 revenue of $502.7M, up 27.8% y/y, with patient services at $229.0M (+11.8% y/y from steady volumes and new contracts) and specialty pharmacy surging 49.6% y/y to $269.2M on 66.6% more fills despite lower average revenue per fill. Q4 delivered positive operating cash flow of $3.2M, flipping from prior cash burn via working capital gains and 2.1% SG&A cuts. Operating loss narrowed to $36.1M from $60.1M; net loss $60.6M. Debt stands at $85.9M due 2027. Yet payor audits threaten quarterly collections.
8-K
Q4 revenue surges 41.6%
The Oncology Institute crushed Q4 2025 with revenue jumping 41.6% to $142.0 million and gross profit up 55.2% to $22.7 million, flipping Adjusted EBITDA positive at $147 thousand. Full-year revenue hit $502.7 million, up 27.8%, while narrowing net loss. Capitated contracts added 260,000 lives. Guidance eyes $630-650 million revenue and positive Adjusted EBITDA in 2026. Cash burned down to $33.6 million.
8-K
Tzoumakas joins TOI board
The Oncology Institute appointed Kimberly Tzoumakas to its board effective February 23, 2026, filling a vacancy via unanimous consent. The independent director brings two decades of oncology and pharmacy leadership, including CEO stints at VytlOne and 21st Century Oncology. She'll receive $75,000 annually plus RSUs. Her expertise bolsters TOI's care expansion.
8-K
Reaffirms 2025, eyes 2026 profitability
The Oncology Institute reaffirmed 2025 guidance and issued preliminary 2026 outlook on January 12, 2026, projecting $630M-$650M revenue—28% growth from 2025 midpoint—with $150M capitation. Adjusted EBITDA targets $0M-$9M amid investments, marking first full public profitability year. Growth stems from Florida contracts, dispensary volumes, organic wins. Profitability builds into 2027.
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