The Oncology Institute, Inc. provides value-based community oncology care through clinics and affiliate locations across multiple states. Company updates commonly cover quarterly results, payor and Medicare Advantage contract activity, capitated care models, specialty pharmacy performance, clinical trials, transfusions, and participation in CMS oncology care programs.
News also addresses clinical pathways, legal and compliance leadership, and healthcare investor conference participation. The issuer's public securities include common stock under TOI and redeemable warrants under TOIIW.
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The Oncology Institute (TOI), a leading value-based oncology group in the U.S., is set to announce its Q1 2023 financial results on May 10, 2023, after market close. A conference call will follow at 5:00 p.m. ET, accessible via phone or webcast. Founded in 2007, TOI provides specialized cancer care to approximately 1.7 million patients through its network of over 60 clinics and more than 100 clinicians. With a focus on evidence-based treatments and clinical trials, TOI is committed to enhancing cancer care delivery. For more details, visit TOI's investor relations webpage.
The Oncology Institute (NASDAQ: TOI) reported an adjustment to its financials for Q4 and FY 2022, resulting in a $1.5 million increase in net loss for Q4 and a $1.5 million decrease in net income for the full year. In Q4, revenue rose 36.6% to $71 million, while gross profit increased 87.6% to $16 million. The company ended 2022 with $132 million in cash. Despite facing challenges, TOI exceeded revised revenue and EBITDA guidance. For 2023, the company forecasts revenue of $290-$320 million, up 15%-27%, and anticipates a net loss of $(25) to $(28) million, while projecting growth in value-based lives to 1.75-2 million.
The Oncology Institute reported a 36.6% revenue increase to $71 million for Q4 2022, with a net loss of $9.5 million, improved from a loss of $10.2 million in Q4 2021. Full-year revenue reached $252 million, up 24.4%, with a net income of $1.7 million, a significant increase from the prior year. The company ended 2022 with $132 million in cash and completed six practice acquisitions, expanding its market count from 10 to 15. They anticipate 2023 revenue guidance between $290 million and $320 million, reflecting 15% to 27% growth over 2022. Adjusted EBITDA for 2023 is projected at $(25) to $(28) million.