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Mar 31, 2022
Oncology Institute Q1 2022 Earnings Report
Reported financial results with revenue increase driven by expansion and value-based approach.
Key Takeaways
The Oncology Institute (TOI) reported a strong first quarter in 2022 with a 13.5% increase in revenue compared to Q1 2021, reaching $55 million. The company also saw a rise in gross profit and net income, driven by new partnerships and cost management improvements.
Revenue increased by 13.5% to $55 million compared to Q1 2021.
Gross profit increased by 20.8% compared to Q1 2021.
Initiated three new value-based partnerships, including one with MaxHealth.
Net income for Q1 2022 was $19 million, increasing $20 million over the same quarter last year.
Revenue by Segment
Forward Guidance
The Oncology Institute confirms its full year 2022 guidance with revenue expected between $270 million and $310 million.
Positive Outlook
- Revenue between $270 million and $310 million, representing approximately 33% to 53% growth over 2021 revenue
- Gross Profit between $50 to $60 million
- Value-based lives between 1.75 million to 2.0 million lives, representing approximately 9% to 25% growth over year-end 2021 lives
- Interest expense in the range of $0.5 million and $1 million
- Depreciation and amortization in the range of $4 million and $6 million
Challenges Ahead
- Adjusted EBITDA between $(20) to $(25) million
- Uncertainties regarding taxes
- Uncertainties regarding share-based compensation
- Our outlook assumes a largely reopened global market, which would be negatively impacted if closures or other restrictive measures persist or are reimplemented.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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