The Oncology Institute Reports Fourth Quarter and Full Year 2024 Financial Results and Guidance for 2025

Core Insights - The Oncology Institute, Inc. (TOI) reported a consolidated revenue of $100 million for Q4 2024, marking a 16.9% increase compared to Q4 2023, driven primarily by dispensary revenue growth [9][14] - The company achieved a net loss of $13.2 million in Q4 2024, an improvement from a net loss of $18.8 million in the same quarter of the previous year [13][18] - For the fiscal year 2025, TOI projects revenue between $460 million and $480 million, with gross profit expected to be between $73 million and $82 million [6] Recent Operational Highlights - TOI successfully reduced cash burn and generated positive cash flow from operations for the second consecutive quarter, amounting to approximately $4.2 million in Q4 2024 [4][7] - The company launched six new contracts in Q3 and Q4 2024, covering over 250,000 lives, contributing to a sequential increase of over 15% in value-based patient services [7][10] - A new agreement with the primary drug supplier improved discounts, optimizing cost positioning for revenue growth targets [7] Financial Performance - Q4 2024 gross profit was $15 million, a 1.8% increase from Q4 2023, while selling, general, and administrative expenses decreased by 12% year-over-year [11][12] - The total revenue for the year ended December 31, 2024, was $393 million, reflecting a 21.3% increase compared to the previous year [14] - Adjusted EBITDA for Q4 2024 was $(7.8) million, a decrease from $(6.3) million in Q4 2023, primarily due to changes in share-based compensation and fair value of derivative liabilities [13][19] Guidance and Outlook - The company anticipates Adjusted EBITDA of approximately $(5) to $(6) million for Q1 2025, influenced by seasonal factors such as drug price increases and lower encounter volumes [8] - TOI's outlook for 2025 assumes a largely reopened global market, with potential impacts from any reimplementation of restrictive measures [8] Key Business Metrics - As of December 31, 2024, TOI operated 86 clinics and served approximately 1.9 million patients under value-based contracts [41] - The company reported cash, cash equivalents, and investments totaling $50 million as of December 31, 2024 [7]