Core Points - Richard Barasch will retire as Chairman of The Oncology Institute, effective August 12, 2025, and will be succeeded by Anne McGeorge [1] - Anne McGeorge has over 35 years of experience in healthcare financial advisory and previously led Grant Thornton LLP's Global Health Care and Life Sciences Practice [2] - The Oncology Institute aims to provide exceptional oncology care and has a mission to advance value-based cancer care in community settings [5] Company Overview - The Oncology Institute, Inc. was founded in 2007 and is one of the largest value-based oncology groups in the United States [5] - The organization serves approximately 1.9 million patients and operates over 100 clinics across five states [5] - The company employs over 180 clinicians and is focused on delivering evidence-based cancer care, including clinical trials and transfusions [5]

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]

Core Viewpoint - The Oncology Institute, Inc. (TOI) will release its second quarter 2025 financial results on August 13, 2025, followed by a conference call to discuss the results [1]. Financial Results Announcement - TOI will announce its second quarter 2025 financial results after market close on August 13, 2025 [1]. - A conference call will take place on the same day at 5:00 p.m. Eastern Time [1]. Conference Call Access - The conference call can be accessed by phone at 1-877-407-0789 for domestic callers and 1-201-689-8562 for international callers [2]. - A replay of the call will be available two hours after it concludes, accessible at 1-844-512-2921 for domestic and 1-412-317-6671 for international callers, with a passcode of 13754165 [2]. - The replay will be available until August 20, 2025 [2]. Webcast Information - Interested parties can also listen to a simultaneous webcast of the conference call via the Investor Relations section of TOI's website [3]. Company Overview - Founded in 2007, TOI specializes in value-based cancer care, serving over 1.8 million patients [4]. - The company employs over 120 clinicians and has more than 700 staff across over 70 clinic locations [4]. - TOI provides advanced cancer care services, including clinical trials and transfusions, aimed at improving oncology care delivery [4].

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]