The Oncology Institute (TOI) Balance Sheet: Assets & Liabilities

The Oncology Institute (TOI) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), The Oncology Institute reported total assets of $164.66M and total liabilities of $180.38M. Shareholders' equity was negative at −$15.72M, meaning liabilities exceed assets. Total debt stood at $103.69M against $33.56M in cash and short-term investments, a net debt position of $70.12M.

The Oncology Institute Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for The Oncology Institute, Inc. (TOI) - 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
Current Assets
Cash and Cash Equivalents	33.57	49.67	33.49	14.01	115.17	6.00	2.45
Short-Term Investments	0.00	0.00	49.37	59.80	0.00	0.00	0.00
Cash & Short-Term Investments	33.57	49.67	82.86	73.81	115.17	6.00	2.45
Accounts Receivable	59.32	48.34	42.36	39.82	20.01	17.26	14.73
Inventory	16.88	10.04	13.68	9.26	6.44	4.35	3.89
Other Current Assets	2.99	4.03	4.05	6.92	11.20	2.11	0.72
Total Current Assets	112.75	112.42	143.49	130.42	154.06	29.72	21.79
Non-Current Assets
Property, Plant & Equipment (Net)	33.06	37.67	40.05	33.04	4.19	2.10	1.55
Long-Term Investments	0.00	0.00	0.00	58.35	-0.37	0.00	0.00
Goodwill	7.23	7.23	7.23	21.42	26.63	14.23	14.08
Intangible Assets	11.02	14.81	17.90	17.96	18.25	19.52	22.00
Other Non-Current Assets	0.61	0.59	0.56	0.48	0.32	0.12	0.10
Total Non-Current Assets	51.91	60.30	65.75	131.25	49.38	35.97	37.73
Total Assets	164.66	172.72	209.24	261.67	203.44	65.69	59.52
Current Liabilities
Accounts Payable	43.17	24.32	14.43	9.37	15.56	12.64	8.89
Short-Term Debt	7.16	6.80	6.36	5.50	0.18	5.37	0.00
Current Portion of Long-Term Debt	-	-	-	-	0.18	5.37	-
Accrued Liabilities	20.64	3.08	5.18	14.85	14.06	4.21	-
Deferred Revenue	2.28	2.35	1.09	1.14	0.26	3.38	0.00
Other Current Liabilities	18.36	5.31	3.60	4.04	5.33	6.07	4.21
Total Current Liabilities	70.96	52.22	34.79	29.72	29.80	28.61	13.59
Non-Current Liabilities
Long-Term Debt	96.53	93.13	86.83	80.62	0.00	6.56	0.00
Deferred Tax Liabilities	0.00	0.03	0.03	0.11	0.37	1.61	2.96
Other Non-Current Liabilities	12.88	0.13	0.37	6.09	69.48	0.81	0.76
Total Non-Current Liabilities	109.41	116.91	117.43	108.77	69.48	8.98	3.71
Total Liabilities	180.38	169.13	152.22	138.49	99.28	37.59	17.30
Stockholders' Equity
Common Stock	0.01	0.01	0.01	0.00	0.01	0.01	0.00
Retained Earnings	-271.42	-210.81	-146.15	-63.08	-63.23	-52.31	-6.02
Treasury Stock	1.02	1.02	1.02	-	-	-	-
Additional Paid-in Capital	255.69	215.41	204.19	186.25	167.39	0.29	0.09
Shares Outstanding	98.86	75.74	74.15	73.27	73.25	-	-
Total Stockholders' Equity	-15.72	3.59	57.03	123.17	104.16	28.10	42.22
Total Liabilities & Equity	164.66	172.72	209.24	261.67	203.44	65.69	59.52

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 Balance Sheet

How much debt does The Oncology Institute have?

The Oncology Institute had total debt of $103.69M as of Dec 31, 2025, against $33.56M in cash and short-term investments. Total debt was $99.93M a year earlier.

What are The Oncology Institute's total assets?

The Oncology Institute reported total assets of $164.66M as of Dec 31, 2025, down 4.7% from $172.72M a year earlier. Total liabilities were $180.38M.

What is The Oncology Institute's shareholders' equity?

The Oncology Institute's shareholders' equity was negative at −$15.72M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition