false
0001799191
0001799191
2026-05-07
2026-05-07
0001799191
TOI:CommonStockParValue0.0001Member
2026-05-07
2026-05-07
0001799191
TOI:RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfCommonStockEachAtExercisePriceOf11.50PerShareMember
2026-05-07
2026-05-07
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
Form 8-K
__________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported) May
7, 2026
___________________________________
THE ONCOLOGY INSTITUTE, INC.
(Exact name of registrant as specified in its charter)
___________________________________
| Delaware |
|
001-39248 |
|
84-3562323 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
| 18000 Studebaker Road, Suite 800, Cerritos, CA |
|
90703 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area
code: (562) 735-3226
(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common stock, par value $0.0001 |
|
TOI |
|
The Nasdaq Stock Market LLC |
| Redeemable warrants, each whole warrant exercisable for one share of Common stock, each at an exercise price of $11.50 per share |
|
TOIIW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐.
Item 2.02. Results of Operations and Financial Condition
On May 7, 2026, The Oncology Institute,
Inc. (the "Company") issued a press release announcing its financial results for the three months ended March 31, 2026
and certain other financial information. A copy of the press release is furnished hereto as Exhibit 99.1, which is incorporated by reference
herein.
The information contained in Item 2.02 of
this Current Report and Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
No. |
|
Description |
| |
|
| 99.1 |
|
Press
Release issued by The Oncology Institute, Inc. on May 7, 2026 |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: May 7, 2026 |
THE ONCOLOGY INSTITUTE, INC. |
| |
|
| |
By: |
/s/ Robert Carter |
| |
Name: |
Robert Carter
|
| |
Title: |
Chief Financial Officer |
Exhibit 99.1

FOR IMMEDIATE RELEASE
The Oncology Institute Reports First
Quarter 2026 Financial Results
CERRITOS,
Calif., May 7, 2026 -- The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI” or the “Company”), one of the largest
value-based community oncology groups in the United States, today reported financial results for its three months ended March 31,
2026.
Recent
Operational Highlights
| • | Specialty Pharmacy had record Part D fills driving Specialty Pharmacy revenue
up 78% in the quarter as compared to prior year same quarter, reflecting the volume growth across our membership and continued attachment
rate improvements. |
| • | Contract expansion bringing our total Medicare Advantage lives to 200,000 across
25 counties in Florida effective July 1, 2026. |
| • | Preparing to launch our proprietary provider portal which is designed to
strengthen provider engagement and drive continued adherence to our clinical pathways - particularly for our network physicians. |
| • | In connection with our clinical model, we saved approximately $2 million
in Medicare spending as part of the CMS Enhancing Oncology Model performance program in period 3 - increasing the savings generated from
the previous period while maintaining high-quality care. |
First Quarter 2026 Financial Highlights
All comparisons are to the quarter ended
March 31, 2025 unless otherwise noted
| • | Consolidated revenue of $147.4 million increased 41.2% from $104.4 million |
| • | Gross profit of $23.3 million, increased 35.2% |
| • | Net loss of $2.5 million compared to net loss of $19.6 million |
| • | Basic and diluted (loss) earnings per share of $(0.02) compared to $(0.21) |
| • | Adjusted EBITDA of $(2.4) million compared to $(5.1) million |
| • | Cash and cash equivalents of $30.3 million as of March 31, 2026 |
Management
Commentary
Daniel Virnich,
CEO of TOI, commented, "The first quarter of 2026 was a strong start to the year for TOI, delivering 41% year over year revenue growth,
driven in part by strong capitated revenue growth and a record performance in our pharmacy business. We made meaningful progress on several
fronts, including in Florida, where we reached profitability, marking an important milestone that reflects the maturation of our capitated
relationships in the state, which is a proof point of our model. Our provider portal, which is designed to underscore our commitment to
high quality patient care, strengthen provider engagement, and drive continued adherence to our clinical pathways and quality metrics,
is preparing for launch this summer. Looking ahead, we are focused on building on the momentum we have coming out of this quarter, are
reaffirming our guidance for 2026 revenue and adjusted EBITDA, and feel confident in our ability to execute sustainable profitability
over the long term."
Outlook for Fiscal
Year 2026
TOI uses Adjusted EBITDA
and Free Cash flow, each a non-GAAP metric, as an additional tool to assess its operational and financial performance. See "Financial
Information: Non-GAAP Financial Measures" below. In reliance on the unreasonable efforts exception provided under Regulation S-K,
TOI is not reasonably able to provide a quantitative reconciliation for forward-looking information of Adjusted EBITDA and Free Cash flow
to net (loss) income and net cash provided by operations, respectively, the most directly comparable GAAP financial measures, without
unreasonable efforts due to uncertainties regarding capitated lives, direct costs, taxes, capital expenditures, share-based compensation,
change in fair value of liabilities, unrealized (gains) losses on investments, consulting and legal fees, transaction costs and other
non-cash items. The variability of these items could have an unpredictable, and potentially significant, impact on TOI’s future
GAAP financial results.
| | |
2026 Guidance - Previous | |
2026 Guidance - Updated |
| Revenue | |
$630 to $650 million | |
Unchanged |
| Gross Profit | |
$97 to $107 million | |
Unchanged |
| Adjusted EBITDA | |
$0 to $9 million | |
Unchanged |
| Free Cash Flow | |
$(15) to $5 million | |
$5 to $15 million |
The Company expects
approximately $150 million in capitated revenue in 2026. For the second quarter of 2026, we anticipate Adjusted EBITDA of $(1) million
to $1 million, reflecting seasonal improvement as deductibles are satisfied and continued ramp of our Florida delegated lives TOI's achievement
of the anticipated results is subject to risks and uncertainties, including those disclosed in its filings with the U.S. Securities and
Exchange Commission. The outlook does not take into account the impact of any unanticipated developments in the business or changes in
the operating or economic environment, nor does it take into account the impact of TOI's acquisitions, dispositions or financings. TOI's
outlook assumes a largely stable global market, which would likely be negatively impacted if recent tariff rate increases and exchange
rate changes persist and adversely affect world trade.
Webcast and Conference
Call
TOI will host a conference call on Thursday,
May 7, 2026 at 5:30 p.m. (Eastern Time) to discuss first quarter results and management’s outlook for future financial and operational
performance.
The conference call can be accessed live
over the phone by dialing 1-800-225-9448, or for international callers, 1-203-518-9708. A replay will be available two hours after the
call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the
replay is 11161701. The replay will be available until Thursday, May 21, 2026.
.
About The Oncology Institute, Inc.
Founded in 2007, The Oncology Institute, Inc. (NASDAQ: TOI) is
advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based
cancer care to a population of approximately 2.0 million patients including clinical trials, transfusions, and other care delivery models
traditionally associated with the most advanced care delivery organizations. With over 400 employed and network clinicians and over 100
clinics and network locations of care across five states and growing, TOI is changing oncology for the better. For more information visit
www.theoncologyinstitute.com.
Forward-Looking Statements
This press release includes certain statements
that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “preliminary,”
“believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “project,” “predict,”
“potential,” “guidance,” “approximately,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical
matters. These forward-looking statements include, but are not limited to, statements regarding projections, anticipated financial results,
estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations.
These statements are based on various assumptions and on the current expectations of TOI and are not predictions of actual performance.
These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied
on by anyone as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances
are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of
TOI. These forward-looking statements are subject to a number of risks and uncertainties, including the accuracy of the assumptions underlying
the 2026 full fiscal year outlook and the Q2 2026 outlook with respect to Adjusted EBITDA discussed herein, the outcome of judicial and
administrative proceedings to which TOI may become a party or investigations to which TOI may become or is subject that could interrupt
or limit TOI’s operations, result in adverse judgments, settlements or fines and create negative publicity; changes in TOI’s
patient or payors' preferences, prospects and the competitive conditions prevailing in the healthcare sector; failure to continue to meet
stock exchange listing standards; the impact of a cybersecurity incident affecting a software provider on TOI’s business; those
factors discussed in the documents of TOI filed, or to be filed, with the SEC, including the Item 1A. "Risk Factors" section
of TOI's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 12, 2026 and any subsequent Quarterly
Reports on Form 10-Q or Current Reports on Form 8-K. If the risks materialize or assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking statements. There may be additional risks that TOI currently is evaluating
or does not presently know or that TOI currently believes are immaterial that could also cause actual results to differ from those contained
in the forward-looking statements. In addition, forward-looking statements reflect TOI’s plans or forecasts of future events and
views as of the date of this press release. TOI anticipates that subsequent events and developments will cause TOI’s assessments
to change. TOI does not undertake any obligation to update any of these forward-looking statements. These forward-looking statements should
not be relied upon as representing TOI’s assessments as of any date subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking statements.
Financial Information; Non-GAAP Financial
Measures
Some of the financial information and data
contained in this press release, such as Adjusted EBITDA and Free Cash Flow, have not been prepared in accordance with United States generally
accepted accounting principles (“GAAP”). TOI’s non-GAAP financial measures may be different from non-GAAP financial
measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as
a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial
measures, you should consider the non-GAAP financial measures presented in this press release in conjunction with TOI’s financial
statements and the related notes thereto.
TOI believes that the use of Free Cash Flow
provides an additional tool to assess the Company's financial performance, evaluate its ability to generate cash from operations, and
plan for future investments and obligations. Free Cash Flow is useful in understanding the cash available for strategic initiatives. It
also helps in comparing TOI's financial performance with other similar companies, many of which use similar non-GAAP financial measures
to provide insights into their cash generation capabilities. However, the principal limitation of Free Cash Flow is that it does not account
for certain cash outflows or inflows that are required by GAAP to be recorded in TOI's financial statements. TOI defines Free Cash Flow
as net cash flow provided by (used in) operations plus cash paid for interest, less capital expenditures.
TOI believes that the use of Adjusted EBITDA
provides an additional tool to assess our operations and results of our performance, to plan and forecast future periods, and factors
and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial
measures to investors. The principal limitation of Adjusted EBITDA is that it excludes significant expenses and income that are required
by GAAP to be recorded in TOI's financial statements.
TOI defines Adjusted EBITDA as net (loss)
income plus depreciation, amortization, interest, taxes, non-cash items, share-based compensation, goodwill impairment charges, change
in fair value of liabilities, unrealized gains or losses on investments and other adjustments to add-back the following: consulting and
legal fees related to acquisitions, one-time consulting and legal fees related to certain advisory projects, software implementations
and debt or equity financings, severance expense and temporary labor and recruiting charges to build out our corporate infrastructure.
A reconciliation of net cash flow used in
operations to Free Cash Flow and net loss to Adjusted EBITDA, the most comparable GAAP metrics, is set forth below:
| Free Cash Flow Reconciliation |
| |
| | |
Three
Months Ended March 31, | | |
Change | |
| (dollars in thousands) | |
2026 | | |
2025 | | |
$ | | |
% | |
| Net cash and cash equivalents
used in operating activities | |
$ | (2,215 | ) | |
$ | (4,988 | ) | |
$ | 2,773 | | |
| 55.6 | % |
| Cash paid for interest | |
| 888 | | |
| 1,290 | | |
| (402 | ) | |
| 31.2 | % |
| Purchases of property
and equipment | |
| (1,042 | ) | |
| (328 | ) | |
| (714 | ) | |
| (217.7 | )% |
| Free Cash Flow | |
$ | (2,369 | ) | |
$ | (4,026 | ) | |
$ | 1,657 | | |
| 41.2 | % |
| Adjusted EBITDA Reconciliation |
| |
| | |
Three
Months Ended March 31, | | |
Change | |
| (dollars in thousands) | |
2026 | | |
2025 | | |
$ | | |
% | |
| Net loss | |
$ | (2,492 | ) | |
$ | (19,585 | ) | |
$ | 17,093 | | |
| (87.3 | )% |
| Depreciation and amortization | |
| 1,616 | | |
| 1,784 | | |
| (168 | ) | |
| (9.4 | )% |
| Interest expense, net | |
| 1,934 | | |
| 5,570 | | |
| (3,636 | ) | |
| (65.3 | )% |
| Income tax and other taxes | |
| 43 | | |
| — | | |
| 43 | | |
| — | % |
| Non-cash addbacks | |
| (248 | ) | |
| (163 | ) | |
| (85 | ) | |
| 52.1 | % |
| Share-based compensation | |
| 1,686 | | |
| 1,458 | | |
| 228 | | |
| 15.6 | % |
| Changes in fair value of liabilities | |
| (5,164 | ) | |
| 3,352 | | |
| (8,516 | ) | |
| (254.1 | )% |
| Unrealized loss on investments | |
| — | | |
| 6 | | |
| (6 | ) | |
| (100.0 | )% |
| Post-combination compensation expense | |
| — | | |
| 13 | | |
| (13 | ) | |
| (100.0 | )% |
| Consulting fees | |
| 273 | | |
| 332 | | |
| (59 | ) | |
| (17.8 | )% |
| Infrastructure and workforce costs | |
| (86 | ) | |
| 2,124 | | |
| (2,210 | ) | |
| (104.0 | )% |
| Adjusted EBITDA | |
$ | (2,438 | ) | |
$ | (5,109 | ) | |
$ | 2,671 | | |
| (52.3 | )% |
| Key Business Metrics |
| |
| | |
Three
Months Ended March 31, | |
| (dollars in thousands) | |
2026 | | |
2025 | |
| Affiliated and Network Clinics (1) | |
| 155 | | |
| 81 | |
| Markets | |
| 17 | | |
| 18 | |
| Lives under value-based contracts (millions) | |
| 2.0 | | |
| 2.0 | |
| Net loss | |
$ | (2,492 | ) | |
$ | (19,585 | ) |
| Adjusted EBITDA (in thousands) | |
$ | (2,438 | ) | |
$ | (5,109 | ) |
| (1) | Clinics operated under the TOI PCs, whereby we receive a percentage of revenue
under our management services agreements, or MSAs, and are consolidated. Additionally, includes independent oncology practices to which
we provide limited management services and have network provider agreements, but do not bear the operating costs. |
Consolidated
Balance Sheets (Unaudited)
(in thousands except share data)
| | |
March 31, 2026 | | |
December 31, 2025 | |
| Assets | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 30,280 | | |
$ | 33,565 | |
| Accounts receivable, net | |
| 58,134 | | |
| 58,998 | |
| Other receivables | |
| 1,316 | | |
| 322 | |
| Inventories | |
| 24,290 | | |
| 16,875 | |
| Prepaid
expenses and other current assets | |
| 2,843 | | |
| 2,987 | |
| Total current assets | |
| 116,863 | | |
| 112,747 | |
| Property and equipment, net | |
| 10,697 | | |
| 10,684 | |
| Operating right of use assets | |
| 22,520 | | |
| 22,374 | |
| Intangible assets, net | |
| 10,300 | | |
| 11,015 | |
| Goodwill | |
| 7,230 | | |
| 7,230 | |
| Other
assets | |
| 620 | | |
| 606 | |
| Total
assets | |
$ | 168,230 | | |
$ | 164,656 | |
| Liabilities and stockholders’
equity (deficit) | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
$ | 47,650 | | |
$ | 43,167 | |
| Current portion of operating
lease liabilities | |
| 7,404 | | |
| 7,156 | |
| Accrued
expenses and other current liabilities | |
| 24,297 | | |
| 20,639 | |
| Total current liabilities | |
| 79,351 | | |
| 70,962 | |
| Operating lease liabilities | |
| 18,843 | | |
| 19,131 | |
| Derivative warrant liabilities | |
| 96 | | |
| 264 | |
| Conversion option derivative
liabilities | |
| 7,595 | | |
| 12,591 | |
| Long-term debt, net of unamortized
debt issuance costs | |
| 78,611 | | |
| 77,400 | |
| Other
non-current liabilities | |
| 19 | | |
| 28 | |
| Total liabilities | |
| 184,515 | | |
| 180,376 | |
| Stockholders’ deficit: | |
| | | |
| | |
| Common Stock, 0.0001 par value,
authorized 500,000,000 shares; 101,707,558 and 99,973,784 shares issued and outstanding at March 31, 2026 and 100,596,918
shares issued and 98,863,144 shares outstanding at December 31, 2025 | |
| 10 | | |
| 10 | |
| Series A Convertible Preferred Stock, 0.0001 par value,
authorized 10,000,000 shares; 193,507 shares issued and outstanding at March 31, 2026 and 193,507 shares issued and outstanding
at December 31, 2025 | |
| — | | |
| — | |
| Additional paid-in capital | |
| 258,635 | | |
| 256,708 | |
| Treasury Stock at cost, 1,733,774 shares at March 31, 2026 and December
31, 2025 | |
| (1,019 | ) | |
| (1,019 | ) |
| Accumulated
deficit | |
| (273,911 | ) | |
| (271,419 | ) |
| Total
stockholders’ equity (deficit) | |
| (16,285 | ) | |
| (15,720 | ) |
| Total
liabilities and stockholders’ equity (deficit) | |
$ | 168,230 | | |
$ | 164,656 | |
Consolidated Statements of Operations (Unaudited)
(in thousands except share data)
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Revenue | |
| | |
| |
| Patient services | |
$ | 59,087 | | |
$ | 53,068 | |
| Specialty Pharmacy | |
| 87,541 | | |
| 49,293 | |
| Clinical trials & other | |
| 813 | | |
| 2,045 | |
| Total operating revenue | |
| 147,441 | | |
| 104,406 | |
| Operating expenses | |
| | | |
| | |
| Direct costs – patient services | |
| 53,383 | | |
| 47,080 | |
| Direct costs – specialty pharmacy | |
| 70,743 | | |
| 39,863 | |
| Direct costs – clinical trials & other | |
| — | | |
| 214 | |
| Selling, general and administrative expense | |
| 28,212 | | |
| 25,376 | |
| Depreciation and amortization | |
| 1,616 | | |
| 1,784 | |
| Total operating expenses | |
| 153,954 | | |
| 114,317 | |
| Loss from operations | |
| (6,513 | ) | |
| (9,911 | ) |
| Other non-operating expense (income) | |
| | | |
| | |
| Interest expense, net | |
| 1,934 | | |
| 5,570 | |
| Change in fair value of derivative warrant liabilities | |
| (168 | ) | |
| 43 | |
| Change in fair value of conversion option derivative liabilities | |
| (4,996 | ) | |
| 3,309 | |
| Other, net | |
| (791 | ) | |
| 752 | |
| Total other non-operating expense (income) | |
| (4,021 | ) | |
| 9,674 | |
| Loss before provision for income taxes | |
| (2,492 | ) | |
| (19,585 | ) |
| Income taxes | |
| — | | |
| — | |
| Net loss | |
$ | (2,492 | ) | |
$ | (19,585 | ) |
| Net loss attributable to common stockholders, basic and diluted | |
$ | (2,094 | ) | |
$ | (16,075 | ) |
| Net loss per share attributable to common stockholders: | |
| | | |
| | |
| Basic | |
$ | (0.02 | ) | |
$ | (0.21 | ) |
| Diluted | |
$ | (0.02 | ) | |
$ | (0.21 | ) |
| Weighted-average number of shares outstanding: | |
| | | |
| | |
| Basic | |
| 101,801,609 | | |
| 77,098,825 | |
| Diluted | |
| 101,801,609 | | |
| 77,098,825 | |
Consolidated
Statements of Cash Flows (Unaudited)
(in thousands)
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Cash flows from operating activities: | |
| | | |
| | |
| Net loss | |
$ | (2,492 | ) | |
$ | (19,585 | ) |
| Adjustments to reconcile net loss to cash and cash equivalents used in operating activities: | |
| | | |
| | |
| Depreciation and amortization | |
| 1,616 | | |
| 1,784 | |
| Amortization of debt issuance costs and debt discount | |
| 1,211 | | |
| 4,874 | |
| Share-based compensation | |
| 1,686 | | |
| 1,458 | |
| Change in fair value of liability classified warrants | |
| (168 | ) | |
| 43 | |
| Change in fair value of liability classified conversion option derivatives | |
| (4,996 | ) | |
| 3,309 | |
| Changes in operating assets and liabilities: | |
| | | |
| | |
| Accounts receivable | |
| 864 | | |
| (985 | ) |
| Other receivables | |
| (994 | ) | |
| — | |
| Inventories | |
| (7,415 | ) | |
| (2,269 | ) |
| Prepaid expenses | |
| 144 | | |
| (1,078 | ) |
| Other assets | |
| (14 | ) | |
| (2 | ) |
| Accounts payable | |
| 4,611 | | |
| 5,057 | |
| Change in operating leases | |
| (186 | ) | |
| (162 | ) |
| Accrued expenses and other current liabilities | |
| 3,918 | | |
| 2,567 | |
| Other non-current liabilities | |
| — | | |
| 1 | |
| Net cash and cash equivalents used in operating activities | |
| (2,215 | ) | |
| (4,988 | ) |
| Cash flows from investing activities: | |
| | | |
| | |
| Purchases of property and equipment | |
| (1,042 | ) | |
| (328 | ) |
| Proceeds from asset disposition | |
| — | | |
| 126 | |
| Net cash and cash equivalents used in investing activities | |
| (1,042 | ) | |
| (202 | ) |
| Cash flows from financing activities: | |
| | | |
| | |
| Proceeds from private placement, net of offering costs | |
| — | | |
| 15,359 | |
| Proceeds from employee stock purchase plan | |
| 220 | | |
| — | |
| Payments made for financing of insurance payments | |
| (260 | ) | |
| (226 | ) |
| Principal payments on long-term debt | |
| — | | |
| (20,000 | ) |
| Principal payments on financing leases | |
| (9 | ) | |
| (10 | ) |
| Common stock issued for options exercised | |
| 21 | | |
| 137 | |
| Net cash and cash equivalents provided by (used in) financing activities | |
| (28 | ) | |
| (4,740 | ) |
| Net decrease in cash and cash equivalents | |
| (3,285 | ) | |
| (9,930 | ) |
| Cash and cash equivalents at beginning of period | |
| 33,565 | | |
| 49,669 | |
| Cash and cash equivalents at end of period | |
$ | 30,280 | | |
$ | 39,739 | |
Media
The Oncology Institute, Inc.
Daniel Virnich, MD
danielvirnich@theoncologyinstitute.com
(562) 735-3226 x 81125
Investors
ICR Strategic Communications
investors@icrinc.com