NASDAQ$TOI
Oncology Institute Inc/The · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported financial results with revenue increase and net loss.
The Oncology Institute (TOI) reported a strong start to 2023 with a 38.1% increase in consolidated revenue, reaching $76 million. However, the company experienced a net loss of $30.0 million, a significant decrease compared to the prior year's net income of $19.3 million, primarily due to a decrease in the change in fair value of earnout liabilities and a goodwill impairment charge.
- Consolidated revenue increased by 38.1% to $76 million compared to Q1 2022.
- Gross profit increased by 14.4% to $14 million, with a gross margin of 18.5%.
- Net loss was $30.0 million, compared to a net income of $19.3 million in the prior year quarter.
- Patient visits increased by 17% and oral drugs dispensed increased by 34% compared to Q1 2022.
Headline financials
Revenue & EPS history
Oncology Institute · Revenue · Quarterly
$76.2M
Revenue by segment
Oncology Institute · $74.5M total across 2 segments · Q1 2023
- Patient Services$50.3M+43.4%67.5%
- Dispensary$24.2M+29.8%32.5%
Forward guidance
TOI provided its outlook for fiscal year 2023, including revenue between $290 to $320 million, gross profit between $60 to $70 million, and Adjusted EBITDA between $(25) to $(28) million.
Tailwinds
- Revenue between $290 to $320 million, representing approximately 15% to 27% growth over 2022 revenue
- Gross Profit $60 to $70 million
- Value-based lives 1.75 million to 2.0 million lives
- Signed a new value-based contract in California
- Signed our first value-based contract with total cost of care alignment with a primary care partner in Texas
Headwinds
- Adjusted EBITDA $(25) to $(28) million
- Net loss for Q1 2023 was $30.0 million, a decrease of $49 million in income compared to Q1 2022
- Gross margin of 18.5%, a decrease from 22.3% the prior year quarter
- Adjusted EBITDA of $(7.9) million compared to $(5.2) million for the prior year quarter
- Basic and diluted (loss) earnings per share of $(0.33) and $(0.33), respectively, compared to $0.22 and $0.21, respectively, for the prior year quarter
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+2.6%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+8.0%
Avg return
30 days after
62%
13 / 21 earnings
Positive
+28.9%
Q3 2025
Best reaction
-23.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.8% | +5.8% | +27.9% | |
| Q4 2025 | +8.4% | +37.4% | +17.6% | |
| Q3 2025 | +28.9% | +6.2% | +22.7% | |
| Q1 2025 | +28.3% | +17.3% | +4.2% | |
| Q4 2024 | +24.5% | +14.5% | +189.2% | |
| Q3 2024 | -23.4% | -43.8% | -5.1% | |
| Q2 2024 | -20.4% | -11.1% | -26.9% | |
| Q1 2024 | +3.6% | -26.5% | -46.6% | |
| Q4 2023 | +8.9% | -7.7% | -32.0% | |
| Q3 2023 | +5.7% | +46.6% | -27.6% | |
| Q2 2023 | -10.1% | -13.3% | +28.3% | |
| Q1 2023 | +4.2% | -6.3% | +29.2% | |
| Q4 2022 | +1.9% | -5.8% | -30.6% | |
| Q3 2022 | -4.3% | -35.5% | -66.4% | |
| Q2 2022 | +0.6% | -1.2% | -9.6% | |
| Q1 2022 | -14.7% | -11.8% | -6.5% | |
| Q2 2021 | +10.3% | +31.4% | +48.1% | |
| Q4 2020 | +10.3% | +31.4% | +48.1% | |
| Q4 2021 | -14.6% | +18.5% | +26.5% | |
| Q3 2021 | +0.0% | +10.0% | -23.6% | |
| Q1 2021 | -0.2% | +1.0% | +0.7% |
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