Oncology Institute (NASDAQ:TOI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Oncology Institute (NASDAQ:TOI) announced its earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02, FiscalAI reports. Oncology Institute had a negative return on equity of 1,527.21% and a negative net margin of 11.45%.The firm had revenue of $141.96 million for the quarter, compared to the consensus estimate of $139.78 million.

Here are the key takeaways from Oncology Institute’s conference call:

• Recorded the first profitable quarter on an adjusted EBITDA basis and reaffirmed guidance to achieve full‑year positive adjusted EBITDA in 2026.
• Rapid expansion of the delegated capitation model — nine new capitated contracts in 2025 (~260,000 added lives), with the Elevance Health delegation already ~70,000 lives and a goal to more than double that partnership in 2026.
• The Part D dispensing platform is a major growth driver, generating nearly $270 million in revenue and about $50 million in gross profit for 2025, with pharmacy revenue up ~71% year‑over‑year in Q4.
• Improving unit economics and balance sheet strength — SG&A leverage and margin expansion (gross margin +140 bps YoY in Q4), $33.6 million cash at year‑end, $24 million reduction on a convertible preferred note, and Q4 positive free cash flow with a target for FCF positivity by end of 2026.
• Near‑term headwinds and uncertainty — management expects a seasonal Q1 adjusted EBITDA loss (roughly $1–3 million) due to deductible resets and lagged drug reimbursement, and full‑year free cash flow guidance remains wide (-$15M to $5M).

Oncology Institute Price Performance

Shares of TOI stock opened at $2.84 on Friday. The firm has a market capitalization of $279.40 million, a price-to-earnings ratio of -5.07 and a beta of 0.14. The business has a fifty day moving average of $3.01 and a 200 day moving average of $3.39. Oncology Institute has a 1 year low of $0.63 and a 1 year high of $4.88.

Insiders Place Their Bets

In other Oncology Institute news, Director Brad Hively sold 13,333 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $3.77, for a total transaction of $50,265.41. Following the sale, the director owned 683,721 shares in the company, valued at approximately $2,577,628.17. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Oncology Institute

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new stake in Oncology Institute in the first quarter valued at approximately $131,000. Geode Capital Management LLC raised its position in Oncology Institute by 231.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock worth $2,623,000 after buying an additional 893,696 shares during the last quarter. Cetera Investment Advisers lifted its stake in Oncology Institute by 35.0% during the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after acquiring an additional 4,545 shares during the period. JPMorgan Chase & Co. lifted its stake in Oncology Institute by 51,631.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,935 shares of the company’s stock valued at $57,000 after acquiring an additional 27,881 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in shares of Oncology Institute in the 2nd quarter valued at $92,000. Institutional investors and hedge funds own 36.86% of the company’s stock.

Oncology Institute News Summary

Here are the key news stories impacting Oncology Institute this week:

• Positive Sentiment: B. Riley raised its price target to $8.00 and put a Buy rating on TOI — the new target implies substantial upside versus recent levels, which can drive buying interest from investors and funds. Benzinga: B. Riley price target raise
• Positive Sentiment: Management reiterated FY‑2026 revenue guidance of $630M–$650M and said it is expanding delegated capitation partnerships — signals that growth and margin‑enhancing contract mix remain intact. MSN: TOI reiterates 2026 guidance
• Positive Sentiment: Q4 results showed record revenue and management highlighted the company’s first profitable quarter on the metrics discussed on the call (growth + improved profitability narrative), supporting the bullish sentiment. GlobeNewswire: Q4 and FY2025 results
• Neutral Sentiment: The company beat consensus for the quarter (revenue ~$142M vs. ~$139.8M est.; GAAP EPS better than expected at a loss of $0.06 vs. $0.08 est.), but details on EPS guidance were sparse in the release. Investors are parsing organic growth vs. one‑time items. MarketBeat: Q4 results & transcript
• Negative Sentiment: Despite the progress, the company still reports negative net margin and a large negative return on equity on reported GAAP metrics — execution risk remains on translating revenue growth into sustained GAAP profitability. MarketBeat: Financial metrics

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TOI shares. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of Oncology Institute in a research note on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Wednesday, January 21st. BTIG Research reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a research report on Monday, March 9th. Finally, B. Riley Financial lifted their target price on shares of Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Oncology Institute Company Profile

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.