TOI

+ Watchlist + Portfolio

The Oncology Institute, Inc.

GridBrain — Sign in

GridSentinel — Sign in

GridAegis — Sign in

Key Metrics

Previous Close: $0.00
52-Week Range: $2.32 – $7.05
Market Cap: $512.91M
P/E (TTM): —
EPS (TTM): -0.35
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: -12.30%
Gross Margin: 15.12%
Operating Margin: -4.42%
Profit Margin: -7.97%
Current Ratio: 1.47
Debt/Equity: —
Total Debt: $104.91M
Free Cash Flow: $-15.31M
Revenue Growth: 41.20%
Earnings Growth: —
Enterprise Value: $587.55M

TOI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$252.48M	$324.24M	$393.41M	$502.73M
Cost of Revenue	$200.39M	$264.67M	$339.42M	$426.29M
Gross Profit	$52.09M	$59.57M	$54.00M	$76.44M
Selling, General & Admin	$119.69M	$113.85M	$107.83M	$105.57M
Operating Expenses	$124.10M	$119.72M	$114.11M	$112.52M
Operating Income	-$72.01M	-$60.15M	-$60.12M	-$36.08M
EBITDA	$8.40M	-$70.45M	-$50.88M	-$42.52M
Pretax Income	-$91.00K	-$83.10M	-$64.66M	-$60.74M
Income Tax	-$243.00K	-$36.00K	$0.00	-$131.00K
Net Income	$152.00K	-$83.07M	-$64.66M	-$60.61M
Diluted EPS	-0.20	-0.92	-0.71	-0.54
Diluted Shares	80.61M	73.75M	75.04M	92.39M

TOI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$14.01M	$33.49M	$49.67M	$33.56M
Receivables	$40.43M	$42.91M	$48.68M	$59.32M
Inventory	$9.26M	$13.68M	$10.04M	$16.88M
Current Assets	$130.42M	$143.49M	$112.42M	$112.75M
Total Assets	$261.67M	$209.24M	$172.72M	$164.66M
Current Liabilities	$29.72M	$34.79M	$52.22M	$70.96M
Long-Term Debt	$80.62M	$86.83M	$93.13M	$77.40M
Total Debt	$108.18M	$119.67M	$123.15M	$103.69M
Total Liabilities	$138.49M	$152.22M	$169.13M	$180.38M
Retained Earnings	-$63.08M	-$146.15M	-$210.81M	-$271.42M
Shareholders' Equity	$123.17M	$57.02M	$3.59M	-$15.72M
Working Capital	$100.70M	$108.70M	$60.20M	$41.78M
Net Debt	$66.61M	$53.34M	$43.46M	$43.84M

TOI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$61.76M	-$36.31M	-$26.54M	-$24.59M
Capital Expenditure	-$5.53M	-$4.57M	-$3.79M	-$3.20M
Free Cash Flow	-$67.28M	-$40.88M	-$30.33M	-$27.79M
Depreciation & Amortisation	$4.41M	$5.87M	$6.29M	$6.94M
Stock-Based Compensation	$27.68M	$17.81M	$11.15M	$4.55M
Investing Cash Flow	-$131.61M	$62.64M	$46.21M	-$3.07M
Financing Cash Flow	$92.21M	-$6.85M	-$3.49M	$11.56M
Share Repurchases	-$9.00M	-$1.02M	$0.00	—
Net Change in Cash	-$101.16M	$19.48M	$16.18M	-$16.10M

TOI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$104.41M	$119.80M	$136.56M	$141.96M	$147.44M
Cost of Revenue	$87.16M	$102.30M	$117.64M	$119.19M	$124.13M
Gross Profit	$17.25M	$17.50M	$18.92M	$22.77M	$23.32M
Selling, General & Admin	$25.38M	$26.91M	$25.25M	$28.04M	$28.21M
Operating Expenses	$27.16M	$28.71M	$26.97M	$29.67M	$29.83M
Operating Income	-$9.91M	-$11.21M	-$8.05M	-$6.91M	-$6.51M
EBITDA	-$12.23M	-$13.46M	-$12.86M	-$3.96M	$1.06M
Pretax Income	-$19.59M	-$17.14M	-$16.50M	-$7.51M	-$2.49M
Income Tax	$0.00	-$131.00K	$0.00	$0.00	$0.00
Net Income	-$19.59M	-$17.01M	-$16.50M	-$7.51M	-$2.49M
Diluted EPS	-0.21	-0.15	-0.14	-0.06	-0.02
Diluted Shares	77.10M	93.20M	97.47M	101.46M	101.80M

TOI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$39.74M	$30.29M	$27.66M	$33.56M	$30.28M
Receivables	$49.67M	$55.94M	$59.98M	$59.32M	$59.45M
Inventory	$12.31M	$15.79M	$18.88M	$16.88M	$24.29M
Current Assets	$106.82M	$104.79M	$110.09M	$112.75M	$116.86M
Total Assets	$164.00M	$159.80M	$163.62M	$164.66M	$168.23M
Current Liabilities	$59.54M	$64.78M	$65.58M	$70.96M	$79.35M
Long-Term Debt	$73.89M	$75.02M	$76.19M	$77.40M	$78.61M
Total Debt	$102.31M	$103.16M	$103.55M	$103.69M	$104.86M
Total Liabilities	$158.93M	$168.78M	$175.89M	$180.38M	$184.51M
Retained Earnings	-$230.40M	-$247.41M	-$263.91M	-$271.42M	-$273.91M
Shareholders' Equity	$5.07M	-$8.98M	-$12.27M	-$15.72M	-$16.29M
Working Capital	$47.28M	$40.01M	$44.51M	$41.78M	$37.51M
Net Debt	$34.16M	$44.73M	$48.54M	$43.84M	$48.33M

TOI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$4.99M	-$10.20M	-$12.63M	$3.23M	-$2.21M
Capital Expenditure	-$328.00K	-$1.21M	-$604.00K	-$1.06M	-$1.04M
Free Cash Flow	-$5.32M	-$11.41M	-$13.23M	$2.17M	-$3.26M
Depreciation & Amortisation	$1.78M	$1.80M	$1.72M	$1.63M	$1.62M
Stock-Based Compensation	$1.46M	$752.00K	$1.02M	$1.32M	$1.69M
Investing Cash Flow	-$202.00K	-$1.21M	-$604.00K	-$1.06M	-$1.04M
Financing Cash Flow	-$4.74M	$1.96M	$10.60M	$3.73M	-$28.00K
Net Change in Cash	-$9.93M	-$9.45M	-$2.63M	$5.91M	-$3.29M

Market Snapshot

About

The Oncology Institute is a physician-led community oncology practice providing comprehensive cancer care services. The company operates a network of outpatient clinics offering chemotherapy, radiation therapy, diagnostic imaging, and supportive care for cancer patients. The Oncology Institute focuses on delivering high-quality, value-based cancer care in community settings across multiple states.