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Oncology Institute, Inc. (TOI)
NASDAQ:TOI
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Oncology Institute
(NASDAQ:TOI)
56Neutral
Oncology Institute (TOI) vs. S&P 500 (SPY)
Market Cap
$197.72M
Dividend YieldN/A
Average Volume (3M)1.31M
Price to Earnings (P/E)―
Beta (1Y)1.58
Revenue Growth21.33%
EPS Growth23.37%
CountryUS
Employees825
SectorHealthcare
Sector Strength54
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.14
Shares Outstanding75,753,230
10 Day Avg. Volume1,716,561
30 Day Avg. Volume1,313,069
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.49
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit0.25
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Oncology Institute Business Overview & Revenue Model
Company DescriptionThe Oncology Institute, Inc. (TOI) is a healthcare services company focused on providing comprehensive, patient-centric cancer care. With a network of clinics, TOI operates in the oncology sector, offering an array of services including medical oncology, radiation oncology, and supportive care. The company's core mission is to improve the quality of life for cancer patients by delivering personalized treatment plans and access to cutting-edge therapies.
How the Company Makes MoneyThe Oncology Institute, Inc. makes money primarily through providing medical services to patients diagnosed with cancer. Its revenue model is based on billing for patient consultations, treatment sessions, and various oncology-related services. Revenue streams include payments from private insurance companies, government healthcare programs like Medicare and Medicaid, and direct payments from patients. TOI may also generate income through partnerships with pharmaceutical companies for clinical trials and research initiatives, although these are typically supplementary to its main revenue from clinical services. Additionally, TOI continuously seeks to expand its clinic network, which could contribute to increased patient volume and, subsequently, higher revenue.
Oncology Institute Financial Statement Overview
Summary
The Oncology Institute faces significant challenges in profitability and financial stability. While revenue growth is strong, the company struggles with negative net income, EBIT margins, and high leverage, indicating financial risk.Income Statement
The Oncology Institute shows a mix of growth and challenges. While revenue has grown significantly over the years, increasing by 21.34% from 2023 to TTM, profitability remains an issue with persistent negative net income and EBIT margins. Gross profit margin improved to 35.12% in TTM, indicating better cost management. However, negative EBIT and EBITDA margins, at -15.28% and -13.68% respectively, reflect ongoing operational challenges.45
Neutral
Balance Sheet
The balance sheet reveals a highly leveraged position with a debt-to-equity ratio of 8.37 in TTM, signaling potential financial risk. Stockholders' equity has drastically reduced to $3.59 million, contributing to a low equity ratio of 2.08%. Return on equity is negative, indicating inefficiencies in generating returns from shareholders' investments.30
Negative
Cash Flow
Cash flow analysis highlights difficulties in cash generation, with negative operating and free cash flow in TTM. Despite improved free cash flow from 2023 to TTM, the operating cash flow to net income ratio remains negative, indicating cash flow issues. The firm needs to improve its cash management and operational profitability.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 393.41M | 324.24M | 252.48M | 203.00M | 187.51M | Gross Profit |
| 393.41M | 59.57M | 52.09M | 40.85M | 36.88M | EBIT |
| -60.12M | -77.02M | -72.01M | -45.86M | -8.20M | EBITDA |
| -53.83M | -70.45M | 8.40M | -7.94M | -11.29M | Net Income Common Stockholders |
| -64.66M | -83.07M | 1.66M | -10.93M | -14.32M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 49.67M | 82.86M | 73.81M | 114.30M | 6.00M | Total Assets |
| 172.72M | 209.24M | 263.75M | 203.44M | 65.69M | Total Debt |
| 30.02M | 119.67M | 108.18M | 183.00K | 11.93M | Net Debt |
| -19.65M | 86.19M | 94.17M | -114.12M | 5.93M | Total Liabilities |
| 169.13M | 152.22M | 139.07M | 99.28M | 37.59M | Stockholders Equity |
| 3.59M | 57.02M | 124.68M | 104.16M | 28.10M |
| Cash Flow | Free Cash Flow | |||
| -30.33M | -40.88M | -67.28M | -35.73M | -685.88K | Operating Cash Flow |
| -26.54M | -36.31M | -61.76M | -32.68M | 508.24K | Investing Cash Flow |
| 46.21M | 62.64M | -131.61M | -12.15M | -8.84M | Financing Cash Flow |
| -3.49M | -6.85M | 92.21M | 154.01M | 11.89M |
Oncology Institute Technical Analysis
Positive
2.75
Price Trends
1.60
Positive
1.10
Positive
0.71
Positive
Market Momentum
0.35
Positive
65.82
Neutral
45.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOI, the sentiment is Positive. The current price of 2.75 is above the 20-day moving average (MA) of 2.52, above the 50-day MA of 1.60, and above the 200-day MA of 0.71, indicating a bullish trend. The MACD of 0.35 indicates Positive momentum. The RSI at 65.82 is Neutral, neither overbought nor oversold. The STOCH value of 45.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TOI.
Oncology Institute Risk Analysis
Oncology Institute disclosed 58 risk factors in its most recent earnings report. Oncology Institute reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Oncology Institute Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $1.47B | 14.40 | 10.79% | 2.55% | 15.25% | 51.77% | |
68 Neutral | $11.80B | 24.01 | 25.33% | 0.56% | 11.21% | 30.38% | |
64 Neutral | $1.86B | 10.99 | 10.38% | 2.91% | -8.86% | -36.22% | |
60 Neutral | $2.19B | 8.57 | 8.73% | ― | 7.69% | ― | |
56 Neutral | $197.72M | ― | -174.88% | ― | 21.33% | 23.37% | |
52 Neutral | $5.21B | 3.55 | -41.91% | 2.83% | 15.12% | 0.42% | |
50 Neutral | $406.89M | ― | 39.18% | ― | 1.05% | -288.07% |
* Healthcare Sector Average
Performance Comparison
TOI
Oncology Institute
2.92
1.97
207.37%
ACHC
Acadia Healthcare
24.22
-46.27
-65.64%
CYH
Community Health
3.39
0.13
3.99%
EHC
Encompass Health
115.91
30.15
35.16%
NHC
National Healthcare
94.66
0.79
0.84%
SEM
Select Medical
14.69
-2.95
-16.72%
Oncology Institute Earnings Call Summary
Earnings Call Date:Mar 24, 2025
(Q4-2024)
| % Change Since: 175.00%|
Next Earnings Date:May 14, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant revenue growth and strategic expansions into new markets, with improved financial flexibility from debt reduction and capital raises. However, the company continues to face profitability challenges, with a net loss and negative adjusted EBITDA reported for 2024. Efforts to improve cash flow and cost efficiency are promising, but overall profitability remains a challenge.Q4-2024 Updates
Positive Updates
Revenue Growth
The Oncology Institute, Inc. reported a fiscal year 2024 revenue increase of 21.3% compared to 2023, driven by contributions from the California-based pharmacy and new capitation contracts.
Expansion into New Markets
The company successfully entered new markets outside of California, with significant contracts in Florida totaling over 200,000 lives, further expanding to 80,000 additional lives in early 2025.
Improved Financial Position
The Oncology Institute, Inc. reduced outstanding debt from $110 million to $86 million by early 2025 and raised $16.5 million in a private placement, improving financial flexibility.
Cash Flow Improvements
The company generated over $4 million of cash in Q4 2024, marking the second consecutive quarter of positive cash from operations.
Cost Efficiency
SG&A expenses decreased by 12% in Q4 2024 compared to Q4 2023, demonstrating operational efficiency and strategic execution.
Negative Updates
Profitability Challenges
Despite revenue growth, The Oncology Institute, Inc. reported a net loss of $64.6 million for 2024, although this was an improvement of $18.4 million compared to 2023.
Gross Profit Decline
Gross profit for 2024 decreased by 9.4% compared to 2023, largely due to lower infusion drug margins in Part B and increased clinical payroll costs.
Negative Adjusted EBITDA
The company reported an adjusted EBITDA of negative $35.7 million for 2024, reflecting ongoing challenges in achieving positive EBITDA.
Fee-for-Service Revenue Reduction
A $3 million one-time reduction in fee-for-service revenue was reported in Q4 2024, unrelated to Q4 days of service.
Company Guidance
During The Oncology Institute, Inc.'s fourth-quarter and full-year 2024 earnings call, the company provided several key metrics and guidance for 2025. The Institute reported a consolidated revenue of $100.3 million for Q4 2024, reflecting a 17% increase from Q4 2023, primarily driven by dispensary revenue. For 2025, they anticipate revenue growth of 17% to 22%, totaling $460 million to $480 million, with significant contributions from new capitation contracts, particularly in the Florida market. Gross profit for 2024 was $54 million, with expectations to rise to $73 million to $82 million in 2025, marking an improvement in margins. Despite a net loss of $64.6 million in 2024, the company aims to achieve positive EBITDA by Q4 of 2025, driven by strategic cost management and a focus on operational efficiency. They also expect free cash flow between negative $12 million to negative $21 million for 2025, with a breakeven target in Q4. Additionally, the company has made progress in reducing SG&A expenses by 12% in Q4 2024 compared to the same period in 2023 and has strengthened its balance sheet with a $20 million debt paydown and a $16.5 million private equity placement.Oncology Institute Corporate Events
Executive/Board ChangesShareholder MeetingsStock Split
Oncology Institute Holds Annual Stockholders Meeting
Neutral
May 8, 2025
On May 7, 2025, The Oncology Institute held its Annual Meeting of Stockholders where three proposals were considered. The stockholders elected eight directors, ratified the appointment of BDO USA, LLP as the independent registered public accounting firm, and approved a proposal to amend the company’s certificate of incorporation to potentially effect a reverse stock split.
Spark’s Take on TOI Stock
According to Spark, TipRanks’ AI Analyst, TOI is a Neutral.
The Oncology Institute’s stock score reflects a challenging financial situation, with significant leverage and continuing profitability issues weighing heavily. Despite this, the company shows strong technical momentum and strategic initiatives aimed at improving financial stability. The stock’s valuation is unattractive due to negative earnings, yet strategic corporate events provide some optimism for future improvements.
To see Spark’s full report on TOI stock, click here.
Executive/Board Changes
Oncology Institute COO Jeremy Castle Resigns
Neutral
May 7, 2025
On May 2, 2025, Jeremy Castle announced his resignation as Chief Operating Officer of The Oncology Institute, Inc., effective May 30, 2025. His departure was not due to any disagreements with the company regarding its operations, policies, or practices.
Spark’s Take on TOI Stock
According to Spark, TipRanks’ AI Analyst, TOI is a Neutral.
The Oncology Institute’s stock score reflects a challenging financial situation, with significant leverage and continuing profitability issues weighing heavily. Despite this, the company shows strong technical momentum and strategic initiatives aimed at improving financial stability. The stock’s valuation is unattractive due to negative earnings, yet strategic corporate events provide some optimism for future improvements.
To see Spark’s full report on TOI stock, click here.
Private Placements and FinancingBusiness Operations and Strategy
Oncology Institute, Inc. Prepares for PIPE Financing
Positive
Mar 24, 2025
The Oncology Institute, Inc. has prepared an investor presentation to discuss a potential private placement of securities (PIPE Financing). The presentation is intended for qualified institutional buyers and accredited investors, emphasizing confidentiality and disclaiming any offer or solicitation of securities. The company highlights its unique market position and the significant growth potential in the oncology sector, driven by complex clinical pathways and high-cost drugs. The Institute’s integrated approach aims to reduce patient healthcare costs and improve access to cutting-edge treatments.
Private Placements and FinancingBusiness Operations and Strategy
Oncology Institute Amends Facility Agreement with Deerfield
Positive
Feb 26, 2025
On February 26, 2025, The Oncology Institute, Inc. announced an amendment to its facility agreement with Deerfield Management, removing certain financial restrictions and paying down $20 million of convertible notes. This move strengthens TOI’s financial position, enabling it to focus on growth initiatives, including new capitation agreements covering 80,000 lives in California, Nevada, and Florida, and expanding its value-based agreements in Florida to over 200,000 lives.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.