Oncology Institute (NASDAQ:TOI) Posts Earnings Results, Beats Expectations By $0.05 EPS

Oncology Institute (NASDAQ:TOI) posted its quarterly earnings data on Thursday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05, FiscalAI reports. The business had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million.

Here are the key takeaways from Oncology Institute’s conference call:

• Q1 results and guidance reaffirmed: Revenue rose 41% YoY to $147.4M, adjusted EBITDA improved (Q1 loss narrowed) and management reaffirmed full‑year revenue guidance of $630–650M while raising free cash flow guidance to a positive $5M–$15M.
• Specialty pharmacy is the primary growth engine: Pharmacy revenue grew 78% to $87.5M with record fills and $16.8M gross profit; gross margin held at ~19.2% and management expects additional Part D tailwinds from expanded pharmacy access in Florida in H2.
• Florida delegated capitation scale and profitability: The Florida market is now profitable, and TOI plans to be network‑adequate across 25 counties serving ~200,000 MA lives under delegated capitation by July 1, with seven new clinics planned to support that growth.
• Shift toward capitated/value‑based mix has mixed margin effects: Capitated revenue grew 54% and now represents ~45.6% of patient services, but patient services gross margin fell (9.7% vs. 11.3% a year ago) due to ramping delegated contracts and conservative reserves.
• Operational efficiency and balance‑sheet actions underway: TOI is on track for $2M of 2026 OpEx savings from AI pilots, SG&A leverage improved (19.1% of revenue), cash was $30.3M at quarter end, and management is in late‑stage discussions to refinance the $85.9M convertible note.

Oncology Institute Price Performance

NASDAQ TOI traded down $0.07 during trading on Friday, reaching $4.00. 2,442,939 shares of the company’s stock were exchanged, compared to its average volume of 1,888,234. The business has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.35. The stock has a market capitalization of $395.36 million, a P/E ratio of -7.14 and a beta of 0.33. Oncology Institute has a fifty-two week low of $2.02 and a fifty-two week high of $4.88.

Wall Street Analysts Forecast Growth

TOI has been the subject of a number of analyst reports. B. Riley Financial raised their price target on Oncology Institute from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. BTIG Research reissued a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a report on Monday, March 9th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Oncology Institute in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Oncology Institute currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Insider Buying and Selling

In other Oncology Institute news, major shareholder Jorey Chernett purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average price of $3.10 per share, for a total transaction of $62,000.00. Following the purchase, the insider owned 10,499,358 shares in the company, valued at approximately $32,548,009.80. The trade was a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mohit Kaushal sold 38,433 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $3.50, for a total value of $134,515.50. Following the sale, the director directly owned 172,583 shares of the company’s stock, valued at $604,040.50. This represents a 18.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders bought 568,985 shares of company stock valued at $1,759,601. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Oncology Institute

Several large investors have recently modified their holdings of TOI. Vanguard Group Inc. boosted its holdings in shares of Oncology Institute by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,545,245 shares of the company’s stock worth $15,863,000 after buying an additional 264,358 shares during the period. Kanen Wealth Management LLC raised its holdings in Oncology Institute by 61.6% in the 4th quarter. Kanen Wealth Management LLC now owns 2,976,144 shares of the company’s stock valued at $10,712,000 after acquiring an additional 1,134,043 shares during the period. Balyasny Asset Management L.P. raised its holdings in Oncology Institute by 17.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,518,337 shares of the company’s stock valued at $5,163,000 after acquiring an additional 371,005 shares during the period. Wexford Capital LP lifted its position in Oncology Institute by 40.4% during the third quarter. Wexford Capital LP now owns 1,571,069 shares of the company’s stock worth $5,483,000 after acquiring an additional 452,390 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Oncology Institute by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 1,570,454 shares of the company’s stock worth $5,592,000 after acquiring an additional 168,548 shares during the last quarter. 36.86% of the stock is owned by institutional investors.

About Oncology Institute

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.