NASDAQ$TOI
Oncology Institute Inc/The · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
Oncology Institute reported 10.3% revenue growth in Q1 2025 and narrowed its net loss while achieving margin improvements across segments.
The Oncology Institute generated $104.4 million in revenue in Q1 2025, driven by strong performance in its dispensary segment and moderate growth in patient services. The company narrowed its net loss to $19.6 million, achieved a 44.1% increase in gross profit, and significantly improved its adjusted EBITDA. Strategic capitation contracts added over 100,000 covered lives and supported guidance reaffirmation.
- Revenue rose 10.3% YoY to $104.4 million, with strong growth in the dispensary segment.
- Gross profit increased 44.1% to $17.2 million, aided by contract rebates and higher margins.
- Net loss was $19.6 million, a slight improvement over Q1 2024.
- Free cash flow improved to -$4.0 million compared to -$15.4 million in Q1 2024.
Headline financials
Revenue & EPS history
Oncology Institute · Revenue · Quarterly
$104M
Revenue by segment
Oncology Institute · $82M total across 3 segments · Q3 2023
- Patient Services$53.6M+20.2%65.4%
- Dispensary$26.8M+42.2%32.7%
- Clinical Trials & Other$1.61M—2.0%
Forward guidance
TOI reaffirmed its full-year 2025 guidance, projecting continued revenue and gross profit growth while reducing losses through margin expansion and capitation ramp-up.
Tailwinds
- Reaffirmed revenue guidance of $460–$480 million for FY25
- Gross profit forecasted at $73–$82 million for FY25
- Capitated contract wins expected to add ~$50M in annualized revenue
- Q2 adjusted EBITDA guidance of $(4)–$(5) million suggests continued improvement
- Private placement raised $16.5M in gross proceeds to support liquidity
Headwinds
- Adjusted EBITDA for FY25 still projected to be negative $(8) to $(17) million
- Free cash flow guidance remains negative $(12) to $(21) million
- Clinic count declined from 87 to 81 YoY
- Value-based contract lives dropped slightly YoY
- Continued losses driven by non-cash interest and derivative expenses
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 2025
+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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