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The Oncology Institute, Inc. TOI Specialty pharmacy — Direct Operating Costs

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Other financials

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

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Market cap$511.91M+133%
Enterprise value$586.58M+108%
P/S0.9×+0.4×

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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Return on equity-277.6%-700pp
Debt / equity20.2×+17.3×
Current ratio1.5×-0.3×

Where this comes from

Reported directly by The Oncology Institute, Inc. in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The official record: The Oncology Institute, Inc.’s 10-K, filed March 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is The Oncology Institute, Inc.'s specialty pharmacy — direct operating costs?
The Oncology Institute, Inc. (TOI) reported specialty pharmacy — direct operating costs of $55.14M in Q4 2025.
How has The Oncology Institute, Inc.'s specialty pharmacy — direct operating costs changed year-over-year?
The Oncology Institute, Inc.'s specialty pharmacy — direct operating costs increased by 45.8% year-over-year, from $37.81M to $55.14M.
What does specialty pharmacy — direct operating costs mean?
This encompasses the immediate, variable expenses directly attributable to the fulfillment and delivery of services within the specialty pharmacy segment, such as drug acquisition costs and direct labor. It is a primary indicator of the segment's variable cost structure and gross margin performance. Investors use this to evaluate the segment's operational efficiency and its ability to manage supply chain expenses.