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The Oncology Institute (NASDAQ: TOI) will participate in two major investor conferences. CEO Dr. Daniel Virnich will represent TOI at the Jefferies Global Healthcare Conference on June 6, 2024, at 9:00am ET in New York City. He will also join the Truist Securities Healthcare Disruptors & Digital Health Summit on June 26, 2024, at 1:00pm ET, also in New York City. Interested parties can access live webcasts and replays through the company's Investor Relations website.
The Oncology Institute (NASDAQ: TOI) has announced that its executives will participate in multiple panel presentations at the APG 2024 Spring Conference in San Diego. Dr. Yale Podnos, Chief Medical Officer, will discuss the use of artificial intelligence in oncology practices during the breakout session titled 'AI on the Front Lines: Improving Outcomes and Reducing Costs for Complex Patients'. Additionally, CEO Dr. Daniel Virnich will join a panel discussing global risk management in pharmaceuticals. The event takes place in May 2024 and highlights the institute's focus on integrating advanced technology and risk management strategies in oncology.
The Oncology Institute (NASDAQ: TOI) announced its Q1 2024 financial results, reporting a 24.2% increase in consolidated revenue to $95 million. Despite this, the gross profit decreased by 15.1% to $12 million, with net losses reducing to $19.9 million from the previous year's $30 million. The net loss per share improved to $(0.22) from $(0.33). Adjusted EBITDA was $(10.9) million, higher than the $(7.4) million from the prior year. The company ended Q1 with $66 million in cash and short-term investments. Operationally, TOI signed seven new capitation and value-based contracts across three states, integrated a capitated risk contract with a health plan in Florida, and expanded its MSO model in Florida. The firm also increased the number of scripts dispensed by 70% and hired seven new providers, bringing the total to 126 employed providers across 73 clinics. CEO Daniel Virnich highlighted the company's revenue growth and new partnerships as key milestones.
The Oncology Institute, Inc. (NASDAQ: TOI) disclosed that Dr. Daniel Virnich, TOI’s CEO, will join the 'Defining the Next Chapter in Value-Based Care' panel at the Leerink Healthcare Transformation Summit on May 16, 2024. TOI is a leading value-based oncology practice in the U.S.