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The Oncology Institute, Inc.

TOI

The Oncology Institute (TOI) is a leading value-based oncology company that manages community-based practices to reduce the cost of cancer care while maintaining clinical excellence.

Market cap
$518.91M+53.0%
Revenue$545.8M+35.4%
Net income-$43.5M+32.4%
Free cash flow-$27.9M+36.7%
EPS (diluted)-$0.36+49.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$155.3M
EPS estimate-$0.07

Financials

Q1 2026

Income statement

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Revenue$147.4M+41.2%
Operating income-$6.5M+34.3%
Net income-$2.5M+87.3%
EPS (diluted)-$0.02+90.5%

Balance sheet

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Cash & equivalents$30.3M-23.8%
Total debt$104.9M+2.5%
Total equity-$16.3M-421%
Total assets$168.2M+2.6%

Cash flow

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Operating cash flow-$2.2M+55.6%
CapEx$1.0M+218%
Free cash flow-$3.3M+38.7%

Valuation & ratios

Valuation

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Market cap$518.91M+53.0%
Enterprise value$593.58M+41.5%
P/S+0.1×

Profitability

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Operating margin-6%-2.1pp
Net margin-8%-2.7pp
FCF margin-5.1%

Returns & leverage

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Current ratio1.5×-0.3×

Competitors

Profile

The Oncology Institute (TOI) is a leading value-based oncology company that manages community-based practices to reduce the cost of cancer care while maintaining clinical excellence. The company operates a network of clinics and managed service organizations that transition oncology treatment from traditional fee-for-service models to risk-bearing, population-level management. Their core value proposition centers on delivering evidence-based, personalized care in outpatient community settings rather than expensive academic or tertiary environments.

Competitive position

TOI is a pioneer in value-based oncology, utilizing a hybrid model of owned clinics and managed networks to scale risk-bearing contracts across multiple states.

GeographiesUnited States, California, Florida, Arizona, Nevada, Oregon
Customer segmentsMedicare Advantage beneficiaries, Managed care organizations, Pharmaceutical manufacturers
Business modelValue-based care, Capitation, Management Services Organization (MSO), Fee-for-service
SuppliersPharmaceutical manufacturers, Drug wholesalers, Medical equipment suppliers, Specialized clinical personnel
CustomersMedicare Advantage plans, Commercial health insurers, Primary care risk-bearing groups, Cancer patients
Listed2021
Employees800.0
CEODaniel Virnich
FilingsSEC EDGAR

Questions, answered.

What is The Oncology Institute, Inc.'s market cap?
The Oncology Institute, Inc. (TOI) has a market capitalization of $518.9M and trades on NASDAQ.
What is The Oncology Institute, Inc.'s revenue and profitability?
The Oncology Institute, Inc. generated $545.8M in trailing twelve-month revenue with a net loss of $43.5M, representing a net margin of -8.0%, with free cash flow of -$27.9M. These figures are based on the Q1 2026 filing.
Who are The Oncology Institute, Inc.'s competitors?
The Oncology Institute, Inc.'s key competitors include Evolent Health, U.S. Oncology Network, Inc., Cardiff Oncology, Inc. Common Stock, and others. These companies compete in similar markets and product categories.
Who does The Oncology Institute, Inc. partner with?
The Oncology Institute, Inc.'s notable partners include Anthem, CareMore Health, Heritage Provider Network, and others.
What subsidiaries does The Oncology Institute, Inc. have?
The Oncology Institute, Inc.'s subsidiaries include TOI Clinical Research, LLC, TOI Parent, Inc..
Where is The Oncology Institute, Inc. headquartered?
The Oncology Institute, Inc. is headquartered in United States of America and employs approximately 800 people. It has been publicly traded since 2021.