NASDAQ$TOI

Oncology Institute Inc/The · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported financial results, highlighting a revenue increase of 36.6% and a gross profit increase of 87.6% compared to the prior year quarter.

The Oncology Institute (TOI) reported a 36.6% increase in consolidated revenue, reaching $71 million for Q4 2022. Gross profit increased by 87.6% to $16 million. The company ended the year with $132 million in cash, cash equivalents, and investments.

  • Consolidated revenue increased by 36.6% to $71 million.
  • Gross profit increased by 87.6% to $16 million.
  • Net loss decreased to $9.5 million from $10.2 million in the prior year quarter.
  • Ended the fiscal year with $132 million in cash, cash equivalents, and investments.

Headline financials

Total Revenue

$71.4M

Previous: $52.3M+36.6%
EPS (adj)

-$0.15

Previous: -$0.15+0.0%
Clinic count

76

No prior period
Markets served

15

No prior period
Lives under value-based contracts

1.7M

No prior period
Capital Expenditures

$2M

Previous: $871K+129.0%
Free Cash Flow

-$16M

Previous: -$32.5M+50.9%
Net Income

-$9.5M

Previous: -$10.1M+5.5%
Operating Income

-$23.1M

Previous: -$41.4M+44.3%
Gross Profit

$16M

Previous: $52.3M-69.4%
Cash & Equivalents

$14M

Previous: $115M-87.8%
Total Assets

$264M

Previous: $203M+29.6%
Stock-Based Comp

$6.07M

Previous: $24.4M-75.1%

Revenue & EPS history

Oncology Institute · Revenue · Quarterly

$71.4M

Q4 2022+36.6%vs Q4 2021
Beat estimate in 8 of 13 quarters(62%)
ActualEstimate

Revenue by segment

Oncology Institute · $71.4M total across 3 segments · Q4 2022

  • Patient Services
    $48M+51.4%
  • Dispensary
    $21.6M+12.3%
  • Clinical Trials & Other
    $1.83M+32.9%

Forward guidance

The Oncology Institute expects revenue between $290 million and $320 million, gross profit between $60 million and $70 million, and Adjusted EBITDA between $(25) million and $(28) million for fiscal year 2023.

Tailwinds

  • Revenue is projected to grow by approximately 15% to 27% over 2022 revenue.
  • Gross profit is expected to be between $60 million and $70 million.
  • Value-based lives are expected to be between 1.75 million and 2.0 million.
  • Interest expense is expected in the range of $4 million to $5 million.
  • Depreciation and amortization is expected in the range of $4 million to $6 million.

Headwinds

  • Adjusted EBITDA is projected to be between $(25) million and $(28) million.
  • Uncertainties regarding taxes.
  • Share-based compensation.
  • Goodwill impairment charges.
  • Change in fair value of liabilities.

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 Q4 2022

Historical avgQ4 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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