The Oncology Institute (TOI) Financial Statements & Analysis

The Oncology Institute (TOI) Income Statement

The Oncology Institute reported revenue of $502.73M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 27.8% from $393.41M a year earlier. The Oncology Institute posted a net loss of $50.30M, compared with a net loss of $64.66M a year earlier. Gross margin was 15.2% and operating margin -7.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $161.28M, up 34.6% from the same quarter a year earlier.

The Oncology Institute Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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The Oncology Institute, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Revenue & Gross Profit
Revenue	502.73	393.41	324.24	252.48	203.00	187.52	155.41
Cost of Revenue	426.29	339.42	264.67	200.39	162.16	150.64	125.46
Gross Profit	76.44	54.00	59.57	52.09	40.85	36.88	29.94
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	105.57	0.00	113.85	119.69	83.37	41.52	29.64
Operating Expenses	112.52	114.12	136.59	124.10	86.71	44.70	32.59
Operating Income	-36.08	-60.12	-77.02	-72.01	-45.86	-7.82	-2.64
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	11.28	7.50	-6.78	4.08	-0.32	-0.35	0.00
Other Income/Expense	-24.65	-4.55	-6.09	76.00	34.26	-8.72	0.01
Income
Income Before Tax	-60.74	-64.66	-83.10	-0.09	-11.60	-14.82	-2.64
Income Tax Expense	0.13	0.00	0.04	-0.24	0.67	-0.49	1.38
Net Income	-50.31	-64.66	-67.88	0.15	-10.63	-14.32	-4.02
Net Income - Continuous Operations	-60.61	-64.66	-83.07	0.15	-10.93	-14.32	-4.02
Net Income - Discontinued Operations	-	-	-	-	-	-	-
EBITDA	-29.14	-50.88	-71.15	8.40	-42.52	-4.65	0.31
EBIT	-36.08	-57.17	-77.02	3.99	-45.86	-7.82	-
Depreciation & Amortization	6.94	6.29	5.87	4.41	3.34	3.18	2.94
Earnings Per Share
Basic EPS	-1.00	-1.00	-1.00	-	-	-	-
Diluted EPS	-1.00	-1.00	-1.00	-	-	-	-
Basic Shares Outstanding	92.39	75.04	73.75	72.79	66.23	59.12	64.45
Diluted Shares Outstanding	92.39	75.04	73.75	80.61	66.23	59.12	64.45

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About The Oncology Institute Financial Statements

What was The Oncology Institute's revenue in fiscal 2025?

The Oncology Institute reported revenue of $502.73M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 27.8% from $393.41M a year earlier.

Is The Oncology Institute profitable?

No. The Oncology Institute reported a net loss of $50.30M in fiscal 2025. In fiscal 2024 it lost $64.66M.

What is The Oncology Institute's operating margin?

The Oncology Institute's operating income was −$36.08M on revenue of $502.73M in fiscal 2025, an operating margin of -7.2%, compared with -15.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition