The Oncology Institute(TOI) - 2025 Q3 - Quarterly Results

Financial Performance - Consolidated revenue for Q3 2025 was $136.6 million, a 36.7% increase from $99.9 million in Q3 2024[4] - Fee-for-service revenue grew by 13% compared to Q3 2024, driven by organic growth in Florida and Oregon[4] - Retail Pharmacy and Dispensary generated $75.9 million in revenue and $12.8 million in gross profit during Q3[4] - Total operating revenue for Q3 2025 was $136,564,000, a 36.6% increase from $99,901,000 in Q3 2024[23] - Net loss for Q3 2025 was $16,504,000, compared to a net loss of $16,113,000 in Q3 2024, reflecting a 2.4% increase in losses[23] Adjusted EBITDA - Adjusted EBITDA for Q3 2025 was $(3.5) million, an improvement from $(8.2) million in Q3 2024[4] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(12,555,000), an improvement from $(27,847,000) in the same period of 2024[23] - The company expects Adjusted EBITDA of approximately $0 to $2 million in Q4 2025[5] Cash and Assets - Cash and cash equivalents stood at $27.7 million as of September 30, 2025[4] - Cash and cash equivalents decreased to $27,658,000 as of September 30, 2025, down from $49,669,000 at the end of 2024[22] - Total assets decreased to $163,619,000 as of September 30, 2025, from $172,717,000 at the end of 2024[22] Liabilities and Receivables - Total current liabilities rose to $65,580,000 as of September 30, 2025, up from $52,215,000 at the end of 2024, reflecting increased operational costs[22] - Accounts receivable increased to $59,639,000 as of September 30, 2025, compared to $48,335,000 at the end of 2024, indicating improved revenue collection[22] Company Updates - The company updated its full-year 2025 revenue guidance to $495 to $505 million, up from the previous guidance of $460 to $480 million[3] - The company welcomed Kristin England as the new Chief Administrative Officer to oversee operations and technology strategy[4] - The company is leveraging AI to enhance operational efficiencies and improve patient experience[6] Operational Activities - The company reported a net cash used in operating activities of $(27,820,000) for the nine months ended September 30, 2025, compared to $(30,724,000) in the same period of 2024[24] - The number of lives under value-based contracts remained stable at 1.9 million for both Q3 2025 and Q3 2024[21] - The company issued 2,695,000 shares for options exercised during the nine months ended September 30, 2025[24]