Oncology Institute Inc
NASDAQ:TOI
Oncology Institute Inc
The Oncology Institute, Inc. provides cancer care treatment services. The company is headquartered in Cerritos, California. The company went IPO on 2020-03-13. The firm manages community-based oncology practices that serve patients at approximately 55 clinic locations across eight markets and four states throughout the United States. The Company’s managed clinics provide a range of medical oncology services, including physician services, in-house infusion and dispensary, clinical trial services, programs like outpatient stem cell transplants and transfusions, along with 24/7 patient support. Through the Innovative Clinical Research Institute (ICRI), the Company also provides and manages clinical trial services and research for the benefit of cancer patients. Its services, such as managing clinical trials, palliative care programs and stem cell transplants, are accessed through academic and tertiary care settings. Its managed clinics primarily serve adult and senior cancer patients in markets that have Medicare Advantage (MA) plans.
The Oncology Institute, Inc. provides cancer care treatment services. The company is headquartered in Cerritos, California. The company went IPO on 2020-03-13. The firm manages community-based oncology practices that serve patients at approximately 55 clinic locations across eight markets and four states throughout the United States. The Company’s managed clinics provide a range of medical oncology services, including physician services, in-house infusion and dispensary, clinical trial services, programs like outpatient stem cell transplants and transfusions, along with 24/7 patient support. Through the Innovative Clinical Research Institute (ICRI), the Company also provides and manages clinical trial services and research for the benefit of cancer patients. Its services, such as managing clinical trials, palliative care programs and stem cell transplants, are accessed through academic and tertiary care settings. Its managed clinics primarily serve adult and senior cancer patients in markets that have Medicare Advantage (MA) plans.
Revenue Growth: Q3 revenue was $137 million, up 23% year-over-year, with Pharmacy revenue up 42% and fee-for-service up 13%.
Profitability Milestone: Achieved first month of adjusted EBITDA profitability in September; on track for breakeven or positive adjusted EBITDA in Q4.
Guidance Raised: Full-year 2025 revenue guidance increased from $460–480 million to $495–505 million; adjusted EBITDA loss guidance improved.
Operational Progress: Expanded delegated capitation in Florida, doubled Medicare Advantage lives with Elevance, and opened a new pharmacy location.
AI Efficiency: AI in prior authorization expected to cut submission times and generate up to $2 million in annual OpEx savings.
Cybersecurity Incident: Vendor incident temporarily disrupted billing, but had minimal impact on operations and is not expected to affect Q4 or 2026 goals.
Capitated Revenue: New 2025 contracts estimated to add $19 million in full-year revenue, a 29% increase versus 2024.
