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Sep 30, 2023
Oncology Institute Q3 2023 Earnings Report
Reported strong growth with increased gross profit and reduced SG&A expenses.
Key Takeaways
The Oncology Institute reported a 26% increase in consolidated revenue, reaching $82 million for Q3 2023. Gross profit increased by 23% to $16 million, while the company experienced a net loss of $17.4 million. The company reaffirmed its full year 2023 guidance.
Consolidated revenue increased by 26% to $82 million compared to the prior year quarter.
Gross profit increased by 23% to $16 million compared to the prior year quarter.
Net loss was $17.4 million, compared to a net loss of $2.7 million for the prior year quarter.
The company opened its 70th clinic and added 5 physicians, bringing the total provider count to 112.
Revenue by Segment
Forward Guidance
The Oncology Institute reaffirmed its fiscal year 2023 guidance.
Positive Outlook
- Revenue between $290 to $320 million, representing approximately 15% to 27% growth over 2022 revenue
- Gross Profit between $60 to $70 million
- Adjusted EBITDA between $(25) to $(28) million
- Value-based lives between 1.75 million to 2.0 million lives
- Expects interest expense in the range of $4 million to $5 million
Challenges Ahead
- Uncertainties regarding taxes
- Share-based compensation
- Goodwill impairment charges
- Change in fair value of liabilities
- Unrealized (gains) losses on investments
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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