Oncology Institute, Inc. (TOI)
NASDAQ:TOI
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Earnings Data
Report Date
Aug 11, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.07Last Year’s EPS
-0.15Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum: substantial revenue growth (41% YoY), exceptional specialty pharmacy scale, capitation expansion and improved operating leverage drove better adjusted EBITDA and materially upgraded free cash flow guidance. Key operational milestones include Florida market profitability, planned expansion to ~200,000 delegated MA lives, and on-track AI and portal initiatives that are expected to further drive margins and ancillary capture. Headwinds include fee-for-service revenue decline, margin pressure in patient services due to ramping delegated contracts and seasonality in Q1, a reduction in average revenue per pharmacy fill, and refinancing/liquidity considerations. Overall, positive execution and upgraded cash flow outlook outweigh the manageable near-term margin and financing risks.Company Guidance
Strong Top-Line Growth
Total revenue of $147.4 million in Q1 2026, up 41.2% year-over-year, reflecting continued expansion of capitated arrangements and specialty pharmacy volume.
Robust Specialty Pharmacy Performance
Specialty Pharmacy revenue of $87.5 million (59.4% of total revenue), up 77.6% year-over-year; prescription fills increased ~103% YoY; pharmacy gross profit of $16.8 million and gross margin of 19.2% (essentially flat YoY), demonstrating scalable unit economics.
Capitation Momentum and Shift to Value-Based Care
Capitated revenue grew 54% year-over-year to $26.9 million and now represents ~45.6% of patient services revenue (up from ~33% a year ago), signaling a meaningful shift toward value-based revenue mix.
Improved Profitability Trends and Cash Flow Outlook
Q1 adjusted EBITDA loss improved to -$2.4 million versus -$5.1 million a year ago. Operating cash flow improved to -$2.3 million from -$5.0 million. Company reaffirmed full-year adjusted EBITDA guidance of $0 to $9 million and raised free cash flow guidance to positive $5 million to $15 million (previously -$15M to +$5M).
Florida Market Achievement
Florida market is now profitable on a 4-wall EBITDA basis; MLR for the 2025 delegated cohort performing at ~85% (target) or slightly better; planned expansion to ~200,000 MA lives under delegated capitation across 25 counties by Q3.
Operating Leverage and SG&A Improvement
Total SG&A of $28.2 million (19.1% of revenue) versus $25.4 million (24.3% of revenue) a year ago — an improvement of ~520 basis points as scale drives operating leverage.
Technology and Cost-Savings Initiatives
AI-enabled initiatives (revenue cycle, prior authorization, call center) remain on track to deliver $2 million of operating expense savings in 2026; proprietary provider portal planned for Q3 to drive pathway adherence, utilization management and ancillary capture.
Regulatory/Program Recognition
Saved nearly $2 million in Medicare spending under CMS Enhancing Oncology Model period 3, evidencing clinical and economic value of TOI's integrated oncology care model.
TOI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TOI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $4.07 | $4.00 | -1.72% |
Mar 12, 2026 | $2.62 | $2.84 | +8.40% |
Nov 13, 2025 | $3.08 | $3.97 | +28.90% |
Aug 13, 2025 | $4.10 | $3.67 | -10.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Oncology Institute, Inc. (TOI) report earnings?
Oncology Institute, Inc. (TOI) is schdueled to report earning on Aug 11, 2026, After Close (Confirmed).
What is Oncology Institute, Inc. (TOI) earnings time?
Oncology Institute, Inc. (TOI) earnings time is at Aug 11, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TOI EPS forecast?
TOI EPS forecast for the fiscal quarter 2026 (Q2) is -0.07.