Oncology Institute, Inc. (TOI) Financial Statements
Industry: Offices & Clinics of Doctors of Medicine (Services)
In fiscal 2025, Oncology Institute reported revenue of $502.7M, up 27.8% from $393.4M the year before. Net income was -$60.6M (a -12.1% net margin), or -$0.54 per diluted share. Operating margin was -7.2%. Operating activities generated -$24.6M of cash, leaving -$27.8M of free cash flow. At fiscal year end, Oncology Institute held $164.7M in total assets against $180.4M in total liabilities.
Open the full interactive Oncology Institute financials → Quarterly statements, key ratios, valuation history and price charts.
Oncology Institute Key Stats
| Share Price | $6.70 |
|---|---|
| Market Cap | $690.3M |
| Revenue YoY Growth | +27.8% |
| 52-Week Range | $2.38 – $7.05 |
| Shares Outstanding | 103.0 million (basic, 2026 Q2) |
Oncology Institute Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $203.0M | $252.5M | $324.2M | $393.4M | $502.7M |
| Operating Income | -$683,869 | -$45.9M | -$82.0M | -$77.0M | -$60.1M | -$36.1M |
| Pre-Tax Income | -$429,720 | -$11.6M | -$91,000 | -$83.1M | -$64.7M | -$60.7M |
| Income Tax | $11,434 | -$671,000 | -$243,000 | -$36,000 | $0 | -$131,000 |
| Net Income | -$441,154 | -$10.9M | $152,000 | -$83.1M | -$64.7M | -$60.6M |
| Diluted EPS | -$0.02 | -$0.16 | -$0.21 | -$0.92 | -$0.71 | -$0.54 |
Oncology Institute Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $136.6M | $142.0M | $147.4M | $161.3M |
| Net Income | -$16.5M | -$7.5M | -$2.5M | -$9.8M |
| Diluted EPS | -$0.14 | -$0.08 | -$0.02 | -$0.08 |
Oncology Institute Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $900,000 | — | — | — | — | — |
| Current Assets | $1.1M | $154.1M | $130.4M | $143.5M | $112.4M | $112.7M |
| Total Assets | $231.3M | $203.4M | $261.7M | $209.2M | $172.7M | $164.7M |
| Current Liabilities | $267,550 | $29.8M | $29.7M | $34.8M | $52.2M | $71.0M |
| Total Long-Term Debt | — | $183,000 | $80.6M | $86.8M | $93.1M | $77.4M |
| Total Liabilities | $6.6M | $99.3M | $138.5M | $152.2M | $169.1M | $180.4M |
| Shareholders' Equity | $5.0M | $104.2M | $123.2M | $57.0M | $3.6M | -$15.7M |
Oncology Institute Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$582,527 | -$32.7M | -$61.8M | -$36.3M | -$26.5M | -$24.6M |
| Cash From Investing | -$230.0M | -$12.2M | -$131.6M | $62.6M | $46.2M | -$3.1M |
| Cash From Financing | $231.5M | $154.0M | $92.2M | -$6.8M | -$3.5M | $11.6M |
| Free Cash Flow | — | -$35.5M | -$67.3M | -$40.9M | -$30.3M | -$27.8M |
Figures from Oncology Institute's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Oncology Institute financials page for every line item.
Oncology Institute Company Profile
| Ticker | TOI |
|---|---|
| Exchange | Nasdaq, OTC |
| Industry | Offices & Clinics of Doctors of Medicine (Services) |
| Headquarters | Cerritos, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0001799191 |
Frequently Asked Questions
What was Oncology Institute's revenue in fiscal 2025?
Oncology Institute (TOI) reported revenue of $502.7M for fiscal 2025.
What is Oncology Institute's annual revenue history?
Oncology Institute's annual revenue by fiscal year: 2020: $0; 2021: $203.0M; 2022: $252.5M; 2023: $324.2M; 2024: $393.4M; 2025: $502.7M.
What was Oncology Institute's net income in fiscal 2025?
Oncology Institute reported net income of -$60.6M for fiscal 2025.
What was Oncology Institute's earnings per share (EPS) in fiscal 2025?
Oncology Institute's diluted EPS was -$0.54 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Oncology Institute generate in fiscal 2025?
Oncology Institute generated -$27.8M of free cash flow in fiscal 2025.
What was Oncology Institute's revenue last quarter?
In its most recent reported quarter (2026 Q2), Oncology Institute reported revenue of $161.3M.
How much debt does Oncology Institute have?
Oncology Institute reported $77.4M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Oncology Institute are outstanding?
Oncology Institute reported a weighted average of 103.0 million basic shares outstanding in 2026 Q2.
What is Oncology Institute's market cap?
Based on its latest closing price, Oncology Institute (TOI) has a market capitalization of about $690.3M.
When does Oncology Institute's fiscal year end?
Oncology Institute's fiscal year end, as registered with the SEC, is December 31.
Where is Oncology Institute headquartered?
Oncology Institute lists its business address in Cerritos, California in its SEC filings.