The Oncology Institute, Inc. (NASDAQ:TOI) saw its shares fall 7.07% in pre-market trading Thursday after reporting second-quarter earnings that fell short of analyst expectations, despite posting revenue above forecasts.
The value-based community oncology provider reported a loss of $0.15 per share for Q2, missing estimates of a $0.09 loss by $0.06. Revenue, however, reached $119.8 million, exceeding the consensus of $112.56 million and marking a 21.5% increase from $98.6 million in the year-ago period.
Revenue growth was driven by strong performance in TOI’s pharmacy business, which grew over 40% year-over-year, along with the addition of more than 50,000 new capitated lives to its value-based operations. Despite the robust top-line performance, net losses widened to $17 million from $15.5 million in Q2 2024.
“We delivered another strong quarter with over 20% year-over-year revenue growth,” said Daniel Virnich, CEO of TOI. “The momentum in new contract signings, combined with continued strength in pharmacy, gives us confidence in achieving revenue at the high end of our guidance and reaching Adjusted EBITDA positivity by year-end.”
The company reaffirmed its full-year 2025 guidance, projecting revenue between $460 million and $480 million, and expects to hit the higher end of this range based on first-half results. Adjusted EBITDA for Q3 2025 is anticipated to range between $(2.5) million and $(3.5) million.
TOI’s retail pharmacy and dispensary segment set new records, contributing $62.6 million in revenue and over $11 million in gross profit during the quarter. The company is also expanding partnerships into new regions of Florida with a major health plan, expected to double the number of lives covered under this payor.
The Oncology Institute stock price
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