NASDAQ$TOI

Oncology Institute Inc/The · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

The Oncology Institute's revenue grew driven by focus on pipeline execution and network expansion.

The Oncology Institute (TOI) anticipates revenue between $270 to $310 million, representing approximately 33% to 53% growth over 2021 revenue. Gross Profit is expected to be $50 to $60 million and adjusted EBITDA is expected to be between $(20) to $(25) million. TOI anticipates 1.75 million to 2.0 million lives at year end, representing approximately 9% to 25% growth over year-end 2021 lives.

  • TOI is an early market leader in a large and growing market.
  • The company has a proven economic model with embedded scalability.
  • TOI is well capitalized, with a disciplined deployment strategy.
  • The company's growth enables high-quality, affordable care for more patients.

Headline financials

Total Revenue

$60.9M

Previous: $49.8M+22.2%
EPS (adj)

-$0.06

Previous: $0.05-220.0%
Capital Expenditures

-$2.34M

Previous: $407K-675.9%
Free Cash Flow

-$7.8M

Previous: -$1.47M-431.4%
Net Income

-$5.45M

Previous: $3.21M-270.1%
Operating Income

-$18.3M

Previous: -$1.12M-1540.1%
Gross Profit

-$18.3M

Previous: $49.8M-136.7%
Cash & Equivalents

$64.2M

Previous: $600K+10601.3%
Total Assets

$190M

Previous: $231M-17.8%
Stock-Based Comp

$6.51M

Previous: $51K+12672.5%

Revenue & EPS history

Oncology Institute · Revenue · Quarterly

$60.9M

Q2 2022+22.2%vs Q2 2021
Beat estimate in 8 of 13 quarters(62%)
ActualEstimate

Revenue by segment

Oncology Institute · $82M total across 3 segments · Q3 2023

  • Patient Services
    $53.6M+20.2%
  • Dispensary
    $26.8M+42.2%
  • Clinical Trials & Other
    $1.61M

Forward guidance

The Oncology Institute expects revenue between $270 to $310 million, gross profit between $50 to $60 million, and adjusted EBITDA between $(20) to $(25) million for 2022.

Tailwinds

  • Strong year-over-year revenue and lives growth expected
  • Continued focus on pipeline execution and network expansion to deliver care under value-based contracts
  • Growth in California and new market penetration in Florida and Texas

Headwinds

  • Gain sharing contracts and higher mix of FFS-reimbursement is expected to produce lower revenue and gross profit
  • TOI’s public company costs are higher than initially projected, mainly due to D&O insurance cost
  • Achievement of the anticipated results is subject to risks and uncertainties, including those disclosed in filings with the SEC.
  • The outlook does not take into account the impact of any unanticipated developments in the business or changes in the operating environment, nor does it take into account the impact of acquisitions, dispositions or financings during 2022.
  • The outlook assumes a largely reopened global market, which would be negatively impacted if closures or other restrictive measures persist or are reimplemented.

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 Q2 2022

Historical avgQ2 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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