Core Insights - Topicus.com Inc. reported a total revenue of €372.0 million for Q2 2025, marking a 20% increase from €311.2 million in Q2 2024, with organic growth contributing 5% [4][8] - Net income for Q2 2025 rose to €41.5 million, a 54% increase from €26.9 million in the same quarter of 2024, translating to €0.31 per diluted share compared to €0.21 [5][8] - The company completed acquisitions totaling €210.3 million in cash consideration, with an estimated total consideration of €240.8 million including deferred payments [8] Financial Performance - Total revenue for the first half of 2025 reached €727.6 million, an 18% increase from €617.8 million in the first half of 2024 [4] - Net income for the first six months of 2025 was €111.6 million, up from €55.2 million in the same period of 2024, resulting in €0.85 per diluted share compared to €0.43 [5] - Cash flows from operations (CFO) for Q2 2025 were negative €14.9 million, a decrease from positive €8.8 million in Q2 2024, while CFO for the first half of 2025 increased to €256.5 million from €236.3 million [6][24] Cash Flow and Investments - Free cash flow available to shareholders (FCFA2S) was negative €16.7 million for Q2 2025, down from negative €3.8 million in Q2 2024, but increased to €145.0 million for the first half of 2025 from €130.1 million [7][10] - The company reported cash and cash equivalents of €249.3 million at the end of Q2 2025, compared to €233.7 million at the end of Q2 2024 [24] Acquisitions and Growth Strategy - Topicus completed acquisitions for a total cash consideration of €210.3 million, with deferred payments estimated at €30.5 million, indicating a strong focus on growth through acquisitions [8] - The company experienced organic growth of 5% and 4% for Q2 and the first half of 2025, respectively, highlighting the importance of both acquisitions and organic expansion in its growth strategy [4]

CERRITOS, Calif., July 24, 2025 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (“TOI”) (NASDAQ: TOI), one of the largest value-based oncology groups in the United States, today announced that the company will release its second quarter 2025 financial results after the market close on Wednesday, August 13, 2025, to be followed by a conference call the same day at 5:00 p.m. (Eastern Time). The conference call can be accessed live over the phone by dialing 1-877-407-0789 or for international callers, 1-201-6 ...

Group 1 - Topicus.com Inc. plans to release its second quarter results on August 1, 2025 [1] - The quarterly results will be available via press release and on the Company's website and SEDAR website after market close on August 1, 2025 [1] - Topicus' subordinate voting shares are listed on the Toronto Venture Stock Exchange under the symbol "TOI" [2] Group 2 - Topicus focuses on acquiring, managing, and building vertical market software businesses [2]

Company Overview - The Oncology Institute, Inc. (TOI) is one of the largest value-based oncology groups in the United States, founded in 2007, and focuses on delivering specialized cancer care in community settings [4] - TOI serves over 1.8 million patients and employs over 120 clinicians with more than 700 teammates across over 70 clinic locations [4] Leadership Change - Kristin England has joined TOI as Chief Administrative Officer (CAO), effective July 7, 2025, in a newly established role overseeing Enterprise Central Business Operations and Technology Strategy [1][3] - England has over two decades of experience in healthcare management, previously serving as a senior executive at McKesson's US Oncology Network, where she optimized revenue cycle performance and practice management systems [2] Strategic Importance - The CEO of TOI, Daniel Virnich, emphasized the importance of England's operational excellence and experience in driving sustainable growth and efficiency as TOI scales its MSO model and commits to value-based care [3] - England expressed her enthusiasm for joining TOI during a transformative period and her commitment to advancing the company's strategic priorities through operational excellence [3]

Core Insights - The Oncology Institute, Inc. (TOI) has become the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada, effective July 1 [1][2] - This partnership aims to enhance access to high-quality cancer care for Medicaid patients in the Las Vegas area [2] Company Overview - TOI, founded in 2007, specializes in value-based cancer care and serves over 1.8 million patients, offering services such as clinical trials and transfusions [4] - The organization employs over 120 clinicians and has more than 700 staff across 70 clinic locations [4] Patient Access - SilverSummit Healthplan members can access TOI's cancer care at three locations in Nevada: Las Vegas, Henderson, and Spring Valley [3] - The Las Vegas location operates Monday to Friday from 8:30 am to 5:00 pm, while the Spring Valley location has specific hours on certain days [3] Strategic Partnership - The partnership between TOI and SilverSummit Healthplan is focused on improving access and quality of cancer care for Medicaid patients [2] - SilverSummit Healthplan emphasizes its commitment to providing high-quality care, particularly for members facing cancer diagnoses [2][5]

Core Viewpoint - Topicus.com Inc. has successfully secured a €200 million senior unsecured Schuldschein loan, which was initially launched at €100 million and later doubled due to strong interest from institutional lenders [1][2]. Financing Details - The Schuldschein loan is structured in multiple tranches with varying maturities: €79.5 million maturing in 3 years, €105.5 million maturing in 5 years, and €15 million maturing in 7 years [1]. - Proceeds from the loan will be utilized for general corporate purposes and mergers and acquisitions (M&A), enhancing the corporation's capital structure and debt maturity profile [2]. Company Overview - Topicus.com Inc. is a prominent pan-European provider of vertical market software and platforms, serving both public and private sector clients [3]. - The company focuses on acquiring, building, and managing leading software firms that deliver specialized and mission-critical software solutions tailored to customer needs [3].

Group 1 - The Oncology Institute, Inc. (TOI) will be included in the Russell 2000® and Russell 3000® indexes after the 2025 annual reconstitution, effective June 27, 2025 [1][2] - Membership in the Russell 3000® Index is based on market capitalization rankings and remains for one year, which also ensures inclusion in the Russell 1000 Index or Russell 2000 Index [2] - The CEO of TOI expressed that this inclusion is a significant milestone reflecting the company's growth and commitment to value-based cancer care [3] Group 2 - The Russell indexes are utilized by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against them as of June 2024 [3] - TOI provides specialized, value-based cancer care to over 1.8 million patients, with a workforce of over 120 clinicians and more than 700 staff across 70 clinic locations [5]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 increased by 10% year-over-year, reaching $104.4 million [5][13] - Gross profit for Q1 2025 was $17.2 million, representing a 44.1% increase compared to Q1 2024 [9][14] - Adjusted EBITDA loss was $5.1 million, an improvement from a loss of $10.9 million in Q1 2024 [16] - Free cash flow was negative $3.9 million, an improvement from negative $15.4 million in Q1 2024 [17] Business Line Data and Key Metrics Changes - The Retail Pharmacy and Dispensary business generated $49.3 million in revenue, growing over 20% year-over-year [6] - Fee-for-service revenue grew by 2.3% year-over-year to $35.6 million [13] - The capitation business saw a slight decline of 1% year-over-year [28] Market Data and Key Metrics Changes - The company added over 80,000 lives under new capitation contracts in Q1 2025, with projections for an additional 100,000 lives in Q2 and Q3 [6][9] - The company signed a new capitation contract in Nevada, adding over 80,000 Medicaid lives effective July 1 [6] Company Strategy and Development Direction - The company aims for profitability and positive cash flow by the end of 2025, focusing on operational management and strategic market expansion [5][22] - A new Chief Clinical Officer has been appointed to enhance capabilities in therapeutics and utilization management [10][11] - The company is outsourcing its clinical trials program to Helios Clinical Trials, which will impact revenue recognition but is expected to enhance growth [9][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted EBITDA in Q4 2025, supported by growth in the dispensary segment and new contracts [19][22] - The company is closely monitoring potential impacts from tariffs and drug pricing regulations but does not currently anticipate negative effects [20][21] Other Important Information - SG&A expenses decreased by 9% year-over-year, reflecting improved efficiency [16] - The company successfully executed a partial paydown of $20 million in convertible preferred debt [10] Q&A Session Summary Question: What drove the gross profit growth of 44% year-over-year? - The growth was attributed to a one-time rebate from a new contract with the primary distributor and favorable drug pricing changes [25][26] Question: Can you discuss the fee-for-service revenue growth? - Fee-for-service revenue grew by 2% year-over-year, with a robust pipeline for new contracts expected to contribute to future growth [29][35] Question: What are the expectations for SG&A savings in 2025? - The company aims to keep SG&A roughly flat for 2025 while seeking efficiencies through vendor and labor management [31] Question: Are there any significant contract renewals coming up? - There are no significant renewals expected in the near future, as most relationships are multi-year and auto-renew [54] Question: How does the trend of delivering cancer care at home align with the company's business? - The company views the trend positively and is exploring innovative ways to deliver therapeutics in the home setting [58]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 increased by 10% year-over-year, reaching $104.4 million [5][13] - Gross profit for Q1 2025 was $17.2 million, representing a 44.1% increase compared to Q1 2024 [14] - Adjusted EBITDA loss was $5.1 million, an improvement from a loss of $10.9 million in Q1 2024 [15] - Net loss for the quarter was $19.6 million, an improvement of $303,000 compared to Q1 2024 [15] - Free cash flow was negative $3.9 million, compared to negative $15.4 million in Q1 2024 [16] Business Line Data and Key Metrics Changes - The Retail Pharmacy and Dispensary business generated $49.3 million in revenue, growing over 20% year-over-year [6] - Fee-for-service revenue grew by 2% year-over-year, reaching $35.6 million [13] - The dispensary segment saw a 24.2% growth, driven by increased prescription attachments to patient visits [13] Market Data and Key Metrics Changes - The company added over 80,000 lives under new capitation contracts in Q1 2025, with anticipated new contracts projected to add approximately $50 million in annualized revenue [6][19] - The company is focusing on expanding its presence in Florida, California, and Nevada markets [6] Company Strategy and Development Direction - The company aims for profitability and positive cash flow by the end of 2025, with a focus on operational management and strategic market expansion [5][22] - A new fully delegated capitation agreement in Florida is expected to enhance management capabilities and future opportunities [7] - The company is outsourcing its clinical trials program to Helios Clinical Trials to accelerate growth in existing and new markets [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite a projected $5 million reduction in revenue due to the outsourcing of clinical trials [19] - The company is closely monitoring potential impacts from tariffs and drug pricing regulations but currently does not anticipate negative effects on guidance [20][21] - Management highlighted a strong pipeline of new contracts and a commitment to maintaining SG&A expenses flat for 2025 [32] Other Important Information - The company successfully executed a partial paydown of $20 million in convertible preferred debt and raised $16 million in capital, strengthening its financial position [10] - The Chief Clinical Officer role was created to enhance the company's clinical capabilities in response to the evolving drug landscape [11] Q&A Session Summary Question: Can you talk about the gross profit growth of 44% year-over-year? - The growth was driven by a one-time rebate of $1.5 million and favorable drug pricing changes [26][28] Question: Can you discuss the fee-for-service revenue growth? - Fee-for-service revenue increased by 2% year-over-year, with a robust pipeline of new contracts expected to contribute to future growth [29][35] Question: What are the expectations for SG&A management in 2025? - The company aims to keep SG&A expenses roughly flat while seeking efficiencies through technology initiatives [32] Question: Are there any significant contract renewals coming up? - There are no significant renewals expected, as most relationships are multi-year and auto-renew [54] Question: How does the trend of delivering cancer care at home align with the company's business? - The company views this trend positively and is exploring innovative ways to deliver therapeutics in the home setting [56]

[First Quarter 2025 Financial and Operational Highlights](index=1&type=section&id=First%20Quarter%202025%20Financial%20and%20Operational%20Highlights) The Oncology Institute reported strong Q1 2025 financial results with increased revenue and improved profitability metrics, alongside significant operational advancements in pharmacy and value-based care expansion [First Quarter 2025 Financial Highlights](index=1&type=section&id=First%20Quarter%202025%20Financial%20Highlights) The Oncology Institute reported a 10.3% year-over-year increase in consolidated revenue to $104.4 million for Q1 2025. Gross profit saw a significant rise of 44.1% to $17.2 million. The company's net loss slightly improved to $19.6 million, while the Adjusted EBITDA loss narrowed substantially to $(5.1) million from $(10.9) million in the prior year quarter. The company also strengthened its liquidity through a $16.5 million private placement Q1 2025 Key Financial Metrics vs. Q1 2024 | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Consolidated Revenue | $104.4 million | $94.7 million | +10.3% | | Gross Profit | $17.2 million | $11.9 million (calculated) | +44.1% | | Net Loss | $19.6 million | $19.9 million | +1.5% (improvement) | | Adjusted EBITDA | $(5.1) million | $(10.9) million | +53.0% (improvement) | | Basic and Diluted EPS | $(0.21) | $(0.22) | +4.5% (improvement) | | Cash and Cash Equivalents | $39.7 million | N/A | N/A | - Successfully closed a private placement resulting in gross proceeds of approximately **$16.5 million** to support working capital and growth[4](index=4&type=chunk) - Entered into an exchange agreement, converting approximately **$4.1 million** of senior secured convertible notes into common-equivalent preferred stock and common warrants[4](index=4&type=chunk) [Recent Operational Highlights](index=1&type=section&id=Recent%20Operational%20Highlights) Operationally, TOI achieved record performance in its Retail Pharmacy and Dispensary segment, with revenue growing over 20% YoY to $49.3 million. The company expanded its value-based care footprint by securing new capitated contracts adding over 100,000 lives across Florida, California, and Nevada. Additionally, fee-for-service business grew 9% compared to the previous quarter - The Retail Pharmacy and Dispensary segment set fill records, contributing **$49.3 million** in revenue and over **$9 million** in gross profit, a growth of over **20% YoY**[4](index=4&type=chunk) - Fee-for-service (FFS) business grew **9%** in Q1 2025 over Q4 2024, reflecting investments in referral management and call center expansion[4](index=4&type=chunk) - Secured multiple new capitated contracts adding over **100,000 lives**, including a first fully-delegated agreement in Florida and a new contract in Nevada adding over **80,000 Medicaid lives**[4](index=4&type=chunk) [Management Commentary and Outlook](index=2&type=section&id=Management%20Commentary%20and%20Outlook) Management expressed confidence in achieving sustained cash flow positivity and profitability by 2026, supported by strategic growth initiatives and reaffirmed full-year 2025 financial guidance [Management Commentary](index=2&type=section&id=Management%20Commentary) CEO Daniel Virnich expressed satisfaction with the strong start to 2025, driven by operational discipline and strategic growth. The company is targeting sustained cash flow positivity in the second half of 2025 and full-year profitability in 2026. New capitation contracts are projected to add approximately $50 million in annualized revenue - The company is executing on a near-term path to achieve sustained cash flow positivity and profitability in the second half of 2025[5](index=5&type=chunk) - Management anticipates full-year profitability in 2026, supported by value-based contract wins, organic FFS growth, and pharmacy expansion[5](index=5&type=chunk) - New capitation contracts expected in H1 2025 are projected to add approximately **$50 million** in new annualized revenue, with a line of sight to an additional **100,000 lives** in H2 2025[5](index=5&type=chunk) [Outlook for Fiscal Year 2025](index=2&type=section&id=Outlook%20for%20Fiscal%20Year%202025) TOI reaffirmed its full-year 2025 guidance, projecting revenues between $460 million and $480 million and an Adjusted EBITDA loss between $(8) million and $(17) million. For the second quarter of 2025, the company expects an Adjusted EBITDA of approximately $(4) to $(5) million Full Year 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $460 to $480 million | | Gross Profit | $73 to $82 million | | Adjusted EBITDA | $(8) to $(17) million | | Free Cash Flow | $(12) to $(21) million | - The company expects an Adjusted EBITDA of approximately **$(4) to $(5) million** in the second quarter of 2025[6](index=6&type=chunk) [Detailed Financial Results](index=2&type=section&id=Detailed%20Financial%20Results) A comprehensive analysis of Q1 2025 financial performance reveals revenue growth driven by the Dispensary segment, improved gross profit margins, and enhanced cost discipline, alongside key business metrics [First Quarter 2025 Results Analysis](index=2&type=section&id=First%20Quarter%202025%20Results%20Analysis) In Q1 2025, revenue growth was primarily driven by a 24.2% increase in Dispensary revenue, while Patient Services revenue remained relatively flat. Gross profit margin improved significantly due to better performance in both segments and a one-time drug supplier rebate. SG&A expenses decreased as a percentage of revenue from 30.1% to 24.3% YoY, demonstrating improved cost discipline Q1 2025 Revenue Breakdown vs. Q1 2024 | Revenue Source | Q1 2025 Revenue | Q1 2024 Revenue | YoY Change | | :--- | :--- | :--- | :--- | | Patient Services | $53.1 million | $52.5 million | +1.2% | | - Fee for Service | $35.6 million | $34.8 million | +2.3% | | Dispensary | $49.3 million | $39.7 million | +24.2% | | **Total Revenue** | **$104.4 million** | **$94.7 million** | **+10.3%** | - Gross profit increased by **44.1%** to **$17.2 million**, partly due to a one-time rebate from a renewed three-year contract with the primary drug supplier, which is not expected to recur[9](index=9&type=chunk) - SG&A expenses decreased to **$25.4 million** (**24.3% of revenue**) from **$28.5 million** (**30.1% of revenue**) in Q1 2024, indicating improved cost discipline and operational efficiency[10](index=10&type=chunk) - Free Cash Flow improved to **$(4.0) million** from **$(15.4) million** in Q1 2024[12](index=12&type=chunk) [Key Business Metrics](index=5&type=section&id=Key%20Business%20Metrics) As of Q1 2025, TOI operated in 18 markets with 81 clinics, covering 1.9 million lives under value-based contracts. Compared to the prior year, the company expanded its market presence but saw a reduction in the number of clinics and lives covered Key Business Metrics Comparison | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Clinics | 81 | 87 | | Markets | 18 | 14 | | Lives under value-based contracts | 1.9 million | 2.0 million | [Financial Statements](index=6&type=section&id=Financial%20Statements) This section presents the company's consolidated balance sheets, statements of operations, and statements of cash flows, detailing financial position, performance, and liquidity for the reported periods [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, TOI's balance sheet showed total assets of $164.0 million and total liabilities of $158.9 million. Cash and cash equivalents decreased to $39.7 million from $49.7 million at the end of 2024, while long-term debt was reduced to $73.9 million from $93.1 million Balance Sheet Summary (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $39,739 | $49,669 | | Total current assets | $106,820 | $112,418 | | Total assets | $164,002 | $172,717 | | Total current liabilities | $59,541 | $52,215 | | Long-term debt, net | $73,894 | $93,131 | | Total liabilities | $158,933 | $169,128 | | Total stockholders' equity | $5,069 | $3,589 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) For the first quarter of 2025, TOI's total operating revenue increased to $104.4 million from $94.7 million in the prior-year period. The loss from operations improved significantly to $(9.9) million from $(18.0) million. However, a substantial increase in interest expense and a non-cash charge for the change in fair value of derivative liabilities resulted in a net loss of $(19.6) million, nearly flat compared to the prior year's $(19.9) million Statement of Operations Summary (in thousands) | Account | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total operating revenue | $104,406 | $94,666 | | Total operating expenses | $114,317 | $112,638 | | Loss from operations | $(9,911) | $(17,972) | | Interest expense, net | $5,570 | $1,985 | | Net loss | $(19,585) | $(19,889) | | Net loss per share (Basic & Diluted) | $(0.21) | $(0.22) | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2025, net cash used in operating activities was $(5.0) million, a significant improvement from $(15.9) million in Q1 2024. Financing activities used $(4.7) million, driven by a $20 million principal payment on long-term debt, which was largely offset by $15.4 million in proceeds from a private placement. The company ended the quarter with $39.7 million in cash Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,988) | $(15,883) | | Net cash (used in) provided by investing activities | $(202) | $19,388 | | Net cash used in financing activities | $(4,740) | $(938) | | **Net (decrease) increase in cash** | **$(9,930)** | **$2,567** | | **Cash at end of period** | **$39,739** | **$36,055** | [Supplementary Information](index=3&type=section&id=Supplementary%20Information) This section provides reconciliations for non-GAAP financial measures and general company information, including forward-looking statements [Non-GAAP Financial Measures and Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) The company utilizes non-GAAP metrics such as Free Cash Flow and Adjusted EBITDA for performance assessment. For Q1 2025, Free Cash Flow improved by 73.8% to $(4.0) million from $(15.4) million in Q1 2024. Adjusted EBITDA loss narrowed by 53.3% to $(5.1) million from $(10.9) million, with key adjustments including interest expense, share-based compensation, and changes in fair value of liabilities Free Cash Flow Reconciliation (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,988) | $(15,883) | | Cash paid for interest | $1,290 | $1,134 | | Purchases of property and equipment | $(328) | $(610) | | **Free Cash Flow** | **$(4,026)** | **$(15,359)** | Adjusted EBITDA Reconciliation (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net loss | $(19,585) | $(19,888) | | Adjustments (Depreciation, Interest, etc.) | $14,476 | $6,948 | | **Adjusted EBITDA** | **$(5,109)** | **$(10,940)** | [Company Information and Forward-Looking Statements](index=3&type=section&id=Company%20Information%20and%20Forward-Looking%20Statements) Founded in 2007, The Oncology Institute is a major provider of value-based cancer care in community settings, operating over 70 clinics with nearly 120 clinicians. The company will host a conference call on May 14, 2025, to discuss these results. The report contains forward-looking statements that are subject to various risks and uncertainties - TOI will host a conference call and webcast on May 14, 2025, at 5:00 p.m. Eastern Time to discuss the first quarter results[13](index=13&type=chunk)[15](index=15&type=chunk) - TOI is a value-based cancer care provider founded in 2007, with nearly **120 employed clinicians** and over **700 teammates** in more than **70 clinic locations**[16](index=16&type=chunk) - The press release contains forward-looking statements regarding projections and financial results, which are based on current expectations and subject to risks and uncertainties[17](index=17&type=chunk)