Oncology Institute, Inc.

TOI

Oncology Institute, Inc.

TOI

Insider Sentiment (TTM):

Last Purchase:2026-06-23Last Sale:2026-06-08Shares Purchased (TTM):357,429Shares Sold (TTM):6,163,853

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:38,315,691Shares Outstanding:101,801,609Institutional Ownership Pct.:37.64%

Earnings Market Reaction:

Filing Date:2026-05-07Price on Filing Date:N/APrevious Close:N/A% Change:N/A

Companies in Services-Offices & Clinics of Doctors of Medicine

HIMS TDOC SBC AIRS LFMD CDIX

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	30	34	28	30	40	50	47	36	36	33	28	29
Accounts Receivable Net Current	58	59	60	56	49	48	55	54	59	42	48	46
Marketable Securities Current	-	-	-	-	-	0	0	10	30	49	60	10
Other Receivables Net Current	1	0	0	0	0	0	0	0	0	1	0	0
Inventory Net	24	17	19	16	12	10	10	11	12	14	12	12
Prepaid Expense Current	-	-	-	-	-	-	-	-	-	-	4	6
Prepaid Expense And Other Assets Current	3	3	4	3	5	4	4	4	5	4	-	-
Assets Current	117	113	110	105	107	112	116	116	141	143	153	104
Property Plant And Equipment Net	11	11	11	11	11	12	12	12	11	11	11	11
Long Term Investments	-	-	-	-	-	-	-	-	-	0	0	59
Operating Lease Right Of Use Asset	23	22	23	24	24	26	27	27	27	29	29	29
Intangible Assets Net Excluding Goodwill	10	11	12	12	14	15	16	16	17	18	19	19
Goodwill	7	7	7	7	7	7	7	7	7	7	7	7
Other Assets Noncurrent	1	1	1	1	1	1	1	1	1	1	1	1
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	48	43	36	35	29	24	25	16	21	14	13	13
Operating Lease Liability Current	7	7	7	7	7	7	7	7	6	6	6	6
Accrued Liabilities Current	24	21	23	23	23	21	15	13	18	14	13	14
Accrued Income Taxes Current	-	-	-	-	-	-	-	-	-	0	0	0
Liabilities Current	79	71	66	65	60	52	47	35	46	35	32	34
Operating Lease Liability Noncurrent	19	19	20	21	22	23	25	25	25	26	26	27
Derivative Liabilities Noncurrent	8	13	14	8	4	0	1	1	3	3	2	1
Long Term Debt Noncurrent	79	77	76	75	74	93	92	90	88	87	85	84
Other Liabilities Noncurrent	0	0	0	0	0	0	0	0	0	0	0	1
Deferred Income Tax Liabilities Net	-	0	0	0	0	0	0	0	0	0	0	0
Stockholders Equity
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	259	257	253	239	236	215	214	212	208	204	200	196
Treasury Stock Common Value	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1
Retained Earnings Accumulated Deficit	-274	-271	-264	-247	-230	-211	-198	-182	-166	-146	-127	-110
Stockholders Equity	-16	-16	-12	-9	5	4	15	29	41	57	72	85
Liabilities And Stockholders Equity	168	165	164	160	164	173	179	180	205	209	218	230
Variable Interest Entity Primary Beneficiary	104	89	7	12	72	71	0	-7	83	71	2	9
Nonrecourse	65	55	-	-	-	35	-	-	-	-	-	-
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	-
Common Stock Shares Authorized	500	500	500	500	500	500	500	500	500	500	500	500
Common Stock Shares Issued	305	302	298	285	272	310	309	309	304	304	302	298
Shares Outstanding	100	99	98	93	89	76	76	75	74	74	74	73
Preferred Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Authorized	10	10	10	10	10	10	10	10	10	10	10	10
Preferred Stock Shares Issued	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	0	0	0	0	0
Treasury Stock Common Shares	2	2	2	2	2	2	2	2	2	2	2	2
Assets	168	165	164	160	164	173	179	180	205	209	218	230
Liabilities	185	180	176	169	159	169	164	150	163	152	147	145
Commitments And Contingencies	-	0	0	0	0	0	-	-	-	0	0	0

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	15.23%	32.43%	22.36%	-	-	-	-	-	-	-	-	-
2025	17.09%	6.33%	57.38%	-19.51%	-11.22%	8.78%	-1.62%	19.16%	-12.01%	19.08%	54.58%	79.01%
2024	-50.00%	-43.56%	-40.11%	-45.45%	-41.82%	-45.45%	-20.45%	21.21%	278.79%	78.51%	147.11%	104.13%
2023	-13.00%	10.00%	86.40%	16.16%	41.41%	90.91%	-16.85%	10.87%	15.76%	-24.68%	-59.56%	-71.52%
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Liquidity Ratios
Current Ratio	1.47	1.59	1.68	1.62	1.79	2.15	2.49	3.31	3.08	4.12	4.71	3.11
Quick Ratio	1.13	1.31	1.34	1.33	1.50	1.88	2.19	2.87	2.73	3.62	4.21	2.57
Working Capital	37.51M	41.79M	44.51M	40.01M	47.28M	60.20M	69.67M	81.11M	95.42M	108.71M	120.29M	70.57M
Leverage & Debt
Debt to Equity	-11.33	-11.47	-14.33	-18.78	31.35	47.12	10.57	5.15	3.95	2.67	2.04	1.71
Interest Coverage TTM	-4.28	-3.20	-3.90	-4.33	-4.70	-8.02	-6.54	-6.88	-7.09	-9.37	-11.91	-13.23
Debt Ratio	1.10	1.10	1.08	1.06	0.97	0.98	0.91	0.84	0.80	0.73	0.67	0.63
Efficiency & Turnover
Asset Turnover TTM	3.29	2.98	2.69	2.50	2.19	2.06	1.91	1.76	1.56	1.38	1.23	1.40
Days Sales Outstanding TTM	35.93	38.96	45.18	47.17	48.93	42.07	49.58	50.75	55.76	46.25	49.04	46.96
Receivables Turnover TTM	10.16	9.37	8.08	7.74	7.46	8.68	7.36	7.19	6.55	7.89	7.44	7.77
Per Share Metrics
Diluted EPS TTM	-0.43	-0.66	-0.56	-0.58	-0.68	-0.71	-0.93	-0.96	-0.98	-1.13	-1.03	-0.82
Free Cash Flow Per Share TTM	-0.25	-0.30	-0.28	-0.15	-0.26	-0.41	-0.51	-0.64	-0.54	-0.55	-0.71	-0.87
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	61.19%	59.12%	56.94%	55.44%	54.24%	52.50%	49.99%	47.56%	45.23%	44.17%	44.81%	44.61%
Operating Profit Margin TTM	-5.99%	-7.18%	-8.92%	-11.05%	-12.91%	-15.28%	-16.75%	-17.60%	-18.13%	-23.75%	-28.01%	-31.75%
Net Profit Margin TTM	-7.97%	-12.06%	-11.85%	-12.78%	-13.07%	-13.47%	-18.53%	-19.81%	-21.29%	-25.62%	-24.31%	-20.69%
Growth Metrics
Net Revenue Growth (1Y)	35.37%	27.79%	21.67%	17.53%	17.64%	21.33%	22.29%	23.31%	25.30%	28.42%	32.79%	32.70%
Net Income Growth (1Y)	-17.43%	14.34%	-22.23%	-24.20%	-27.77%	-36.19%	-6.75%	18.10%	48.50%	-54,750.00%	5,945.19%	-6,181.93%
EPS Growth (1Y)	-37.47%	-7.13%	-39.74%	-39.21%	-30.45%	-37.29%	-9.29%	17.11%	46.93%	-54,042.20%	5,839.48%	-6,089.77%
Valuation Metrics
P/E TTM	-7.18	-5.43	-6.23	-3.52	-1.67	-0.44	-0.35	-0.48	-1.61	-1.81	-1.37	-0.67
P/B TTM	-19.19	-20.92	-27.72	-21.27	17.34	6.46	1.60	1.18	2.84	2.64	1.43	0.48
P/S TTM	0.57	0.65	0.74	0.45	0.22	0.06	0.07	0.10	0.34	0.46	0.33	0.14
Market Cap	312.53M	328.91M	340.19M	191.07M	87.89M	23.19M	24.70M	34.38M	117.29M	150.45M	102.86M	40.77M
Enterprise Value	360.86M	372.74M	388.72M	235.80M	122.05M	66.65M	68.83M	87.91M	169.62M	203.79M	160.58M	95.56M
Calculated Values
Free Cash Flow TTM	-25.73M	-27.79M	-27.53M	-13.88M	-19.95M	-31.13M	-38.32M	-47.97M	-40.08M	-40.88M	-52.12M	-64.47M
Net Debt	48.33M	43.84M	48.54M	44.73M	34.16M	43.46M	44.14M	53.53M	52.33M	53.34M	57.72M	54.80M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-06-23Purchase

Owner: Chernett, Jorey

Title: -

Shares: 18,000

Price/Share: $5.02

Value: $90,360.00

Shares Owned: 10,615,858

Relationship: TenPercentOwner

Ownership: Direct

2026-06-08Sale

Owner: Podnos, Yale

Title: Chief Medical Officer

Shares: 23,451

Price/Share: $5.38

Value: $126,166.38

Shares Owned: 259,527

Relationship: Officer

Ownership: Direct

2026-06-04Purchase

Owner: Chernett, Jorey

Title: -

Shares: 12,000

Price/Share: $4.75

Value: $57,000.00

Shares Owned: 10,579,858

Relationship: TenPercentOwner

Ownership: Direct

2026-05-19Purchase

Owner: Chernett, Jorey

Title: -

Shares: 5,000

Price/Share: $4.05

Value: $20,250.00

Shares Owned: 10,534,358

Relationship: TenPercentOwner

Ownership: Direct

2026-04-16Sale

Owner: Kaushal, Mohit

Title: -

Shares: 38,433

Price/Share: $3.50

Value: $134,515.50

Shares Owned: 172,583

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-06-23	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	18,000	5.02	$90,360.00	10,615,858	4
2026-06-08	Podnos, Yale	Officer	Chief Medical Officer	Direct	Sale	23,451	5.38	$126,166.38	259,527	4
2026-06-04	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	12,000	4.75	$57,000.00	10,579,858	4
2026-05-19	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	5,000	4.05	$20,250.00	10,534,358	4
2026-04-16	Kaushal, Mohit	Director	-	Direct	Sale	38,433	3.50	$134,515.50	172,583	4
2026-04-09	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	20,000	3.10	$62,000.00	10,499,358	4
2026-03-27	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	27,429	2.96	$81,189.84	10,479,358	4
2026-03-26	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	50,000	3.15	$157,500.00	10,451,929	4
2026-03-24	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	125,000	3.11	$388,750.00	10,401,929	4
2026-03-20	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	25,000	3.35	$83,750.00	10,276,929	4
2026-03-17	Chernett, Jorey	TenPercentOwner	-	Direct	Purchase	75,000	3.42	$256,500.00	10,251,929	4
2026-01-02	Carter, Robert Ross	Officer	Chief Financial Officer	Direct	Sale	247	3.56	$879.32	235,122	4
2025-12-15	Hively, Brad	Director	-	Direct	Sale	13,333	3.77	$50,265.41	683,721	4
2025-11-18	Pacala, Mark L	Director	-	Direct	Sale	50,000	4.00	$200,000.00	174,971	4
2025-09-04	M33, Growth I Gp Llc, Toi…	Director,TenPercentOwner	-	Direct	Sale	6,018,168	3.09	$18,596,139.12	7,932,389	4
2025-08-19	Hively, Brad	Director	-	Direct	Sale	20,221	4.06	$82,097.26	622,980	4
2025-06-05	M33, Growth I Gp Llc, M33…	Director,TenPercentOwner	-	Direct	Sale	673,676	3.05	$2,054,711.80	13,950,557	4
2025-06-03	Hively, Brad	Director	-	Direct	Sale	1,976,137	2.87	$5,671,513.19	603,501	4
2025-05-20	M33, Growth I Gp Llc, M33…	Director,TenPercentOwner	-	Direct	Sale	1,796,468	2.71	$4,868,428.28	14,624,233	4
2025-03-26	Barasch, Richard A	Director	-	Indirect	Purchase	1,358,448	1.04	$1,412,785.92	1,775,641	4
2025-03-26	Carter, Robert Ross	Officer	Chief Financial Officer	Direct	Purchase	9,056	1.04	$9,418.24	39,407	4
2025-03-26	Castle, Jeremy	Officer	Chief Operating Officer	Direct	Purchase	9,056	1.04	$9,418.24	90,386	4
2025-03-26	Johnson, Karen Marie	Director	-	Direct	Purchase	36,224	1.04	$37,672.96	203,409	4
2025-03-26	Hively, Brad	Director	-	Direct	Purchase	45,280	1.04	$47,091.20	712,033	4/A
2025-03-26	Virnich, Daniel	Officer	Chief Executive Officer	Direct	Purchase	22,640	1.04	$23,545.60	724,363	4
2025-03-26	Pacala, Mark L	Director	-	Indirect	Purchase	90,562	1.04	$94,184.48	224,971	4
2025-03-26	Hively, Brad	Director	-	Direct	Purchase	9,056	1.04	$9,418.24	675,809	4
2025-03-26	Podnos, Yale	Officer	Chief Medical Officer	Direct	Purchase	9,056	1.04	$9,418.24	79,049	4
2024-12-02	Hively, Brad	Director	-	Direct	Purchase	50,000	0.15	$7,500.00	666,753	4
2024-01-29	Havencrest, Healthcare Pa…	TenPercentOwner	-	Indirect	Sale	8,637	2.12	$18,310.44	0	4
2024-01-26	Havencrest, Healthcare Pa…	TenPercentOwner	-	Indirect	Sale	6,979	2.14	$14,935.06	8,637	4
2024-01-23	Toi, Hc I, Llc, Havencres…	TenPercentOwner	-	Indirect	Sale	5,338	2.11	$11,263.18	52,413	4
2023-12-14	Shah, Mihir	Officer	Chief Financial Officer	Direct	Purchase	100,000	1.26	$126,000.00	328,122	4
2023-11-17	Hively, Brad	Director	-	Direct	Sale	25,000	2.24	$56,000.00	697,065	4
2023-11-13	Hively, Brad	Director	-	Direct	Sale	47,000	2.52	$118,440.00	724,182	4
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Institutional Ownership

No data available for chart

2026-03-31

37.64%

Inst. Shares: 38,315,691

Shares Outstanding: 101,801,609

2025-12-31

38.29%

Inst. Shares: 35,374,313

Shares Outstanding: 92,389,381

2025-09-30

34.47%

Inst. Shares: 33,601,767

Shares Outstanding: 97,474,797

2025-06-30

31.26%

Inst. Shares: 29,134,197

Shares Outstanding: 93,203,665

2025-03-31

43.72%

Inst. Shares: 33,711,144

Shares Outstanding: 77,098,825

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	38,315,691	101,801,609	37.64%
2025-12-31	35,374,313	92,389,381	38.29%
2025-09-30	33,601,767	97,474,797	34.47%
2025-06-30	29,134,197	93,203,665	31.26%
2025-03-31	33,711,144	77,098,825	43.72%
2024-12-31	28,836,500	75,043,678	38.43%
2024-09-30	40,853,940	75,524,823	54.09%
2024-06-30	37,403,732	74,748,365	50.04%
2024-03-31	33,780,682	74,234,287	45.51%
2023-12-31	36,505,604	73,748,660	49.50%
2023-09-30	26,286,860	73,469,101	35.78%
2023-06-30	26,949,582	74,119,910	36.36%
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Oncology Institute, Inc. (TOI) — SEC Financial Statements & Analysis

Oncology Institute, Inc. (TOI) is a services-offices & clinics of doctors of medicine company, incorporated in DE. Oncology Institute, Inc. trades on TOIIW: Nasdaq as: TOI: Nasdaq, DFPH: OTC. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), Oncology Institute, Inc. reported a 35.37% year-over-year revenue growth, a Gross Profit Margin of 61.19% (TTM), a Debt-to-Equity ratio of -11.33x, a Price-to-Sales (P/S) ratio of 0.57x (TTM), a Price-to-Book (P/B) ratio of -19.19 (TTM), at a market cap of $312.53M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 35.37%
Gross Profit Margin TTM: 61.19%
Debt To Equity: -11.33x
P/S TTM: 0.57x
P/B TTM: -19.19
Market Cap: $312.53M

Data as of 2026-03-31 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Oncology Institute, Inc. in?

Oncology Institute, Inc. (TOI) operates in the Services-Offices & Clinics of Doctors of Medicine industry.

What is TOI's market cap?

Oncology Institute, Inc. (TOI) has a market capitalization of $312.53M as of 2026-03-31.

What exchange does TOI trade on?

Oncology Institute, Inc. (TOI) trades on the TOIIW: Nasdaq.

Where is Oncology Institute, Inc. incorporated?

Oncology Institute, Inc. is incorporated in DE.

Oncology Institute, Inc. (TOI) — SEC Financial Statements & Analysis

Frequently Asked Questions

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