Oncology Institute, Inc. (TOI)
NASDAQ:TOI
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.08Last Year’s EPS
-0.21Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted meaningful operational and financial progress—record revenue, large pharmacy growth, expanded capitated relationships, improved margins, first positive adjusted EBITDA quarter, and strengthened balance sheet and leadership. Key near-term headwinds include seasonal Q1 weakness, reliance on pharmacy/dispensing, transitional MLR pressure during delegated ramps, and a free-cash-flow range that allows for interim negative cash flow. Overall, positives (strong top-line growth, margin improvement, profitability milestone, and clear 2026 guidance) significantly outweigh the manageable short-term risks.Company Guidance
Record Revenue and Strong Top-Line Growth
Full year 2025 revenue of $502.7M, up ~27.8% YoY (from $393.4M), surpassing $500M for the first time; Q4 revenue $142.0M, up 41.6% YoY (from $100.3M).
Material Pharmacy/Dispensing Expansion
Pharmacy revenue grew 49.6% YoY to $269.2M (full year) and represented 57.4% of Q4 revenue ($81.4M, +71.1% YoY); full-year pharmacy gross profit ~ $50M and Q4 pharmacy gross profit $14.9M (+84.7% YoY) with pharmacy gross margin up ~130 bps to 18.3%.
First Positive Adjusted EBITDA Quarter as a Public Company
Q4 2025 adjusted EBITDA was positive $147k versus negative $7.8M in Q4 2024; company reaffirmed expectation of full-year positive adjusted EBITDA in 2026 and guided adjusted EBITDA $0M to $9M for 2026.
Improving Gross Profitability
Q4 gross profit $22.7M vs $14.6M prior year; overall gross margin improved to 16.0% from 14.6% (+140 bps). Patient services gross profit rose 59.5% YoY to $7.1M with margin up to 11.9% (from 8.9%).
Capitation and Delegated Model Growth
Nine new capitated contracts added in 2025 representing ~260,000 additional lives; capitation revenue grew 17.2% YoY to $80.5M (from $68.7M). Delegated Florida model produced >$10M new capitated revenue in 2025 with ~ $50M annualized run rate entering 2026; delegated members <5% of capitated lives but ≈1/3 of run-rate capitated revenue (higher PMPM).
Operating Leverage and SG&A Discipline
SG&A (ex D&A) improved to 19.7% of revenue in the quarter versus 24.8% prior year (a reduction of >500 bps); management expects SG&A to trend to ~16% of revenue in 2026 reflecting operating leverage and AI-driven efficiencies (~$2M SG&A savings from AI use cases).
Strengthened Balance Sheet and Cash Generation
Ended year with $33.6M cash; reduced debt on convertible preferred note by $24M; Q4 operating cash flow +$3.2M and Q4 free cash flow positive, with the company expecting free cash flow positivity by end of 2026 (guidance -$15M to $5M for 2026).
Strategic Partnerships, Leadership and Operational Initiatives
New payer partnerships (Elevance expansion, Humana and CarePlus deals adding ~22,000 MA lives in South Florida), plan to launch proprietary network portal in Q2 2026, outsourced clinical trials operations to scale, and strengthened leadership and Board additions to support growth.
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 |
|---|---|---|---|
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% |
May 14, 2025 | $2.37 | $3.04 | +28.27% |
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 May 13, 2026, After Close (Confirmed).
What is Oncology Institute, Inc. (TOI) earnings time?
Oncology Institute, Inc. (TOI) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TOI EPS forecast?
TOI EPS forecast for the fiscal quarter 2026 (Q1) is -0.08.