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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.
Oncology Institute
Oncology Institute
Oncology Institute Revenue by Segment
Revenue by Segment
Patient Services Revenue
CapyFin.comDispensary Revenue
CapyFin.comClinical Trials & Other Revenue
CapyFin.com 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.
- The outlook does not take into account the impact of any unanticipated developments in the business or changes in the operating environment, nor does it take into account the impact of our acquisitions, dispositions or financings during 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income