The Oncology Institute Inc (NAS:TOI)

Q3 2024 Oncology Institute Inc Earnings Call Transcript

Nov 13, 2024 / 10:00 PM GMT

Release Date Price: $0.2638 (-9.03%)

Transcript 10-Q8-K

Key Points

Positve

The Oncology Institute Inc (TOI) achieved a 21.8% increase in overall revenue for the third quarter compared to the prior year, driven by significant growth in oral drug revenue.
The company signed 13 new capitation contracts year-to-date, including its first in Oregon and a second in Florida, enhancing its service offerings and market reach.
TOI achieved certification to begin radiopharmaceutical therapy in its California Radiation oncology practice, positioning it as one of the few community-based practices on the West Coast to offer this service.
The company reported a 6% reduction in SG&A expenses compared to the prior year, reflecting successful cost optimization efforts.
TOI's cash and cash equivalents increased by $1 million compared to Q2 2024, marking its first quarterly cash surplus of the year.

Negative

The Oncology Institute Inc (TOI) reported a net loss of $16.1 million for Q3 2024, although this was an improvement of $1.3 million compared to Q3 2023.
Adjusted EBITDA for Q3 2024 was negative $8.2 million, compared to negative $5.3 million in Q3 2023, indicating ongoing financial challenges.
The company received a notice from NASDAQ for failing to maintain a minimum bid price of $1 per share, risking non-compliance with listing standards.
Despite interest during a strategic review process, the board concluded that offers did not reflect the company's value, leading to a decision to continue focusing on internal growth.
TOI is considering a reverse stock split to meet NASDAQ's minimum bid requirement, highlighting ongoing concerns about its stock performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TOI.OQ - Oncology Institute Inc
Q3 2024 Oncology Institute Inc Earnings Call
Nov 13, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon and welcome to the Oncology Institute third quarter, 2024 earnings conference call.

Today's call is being recorded and we have allocated one hour for prepared remarks. And Q&A at this time, I'd like to turn the conference over to Mark Heppel Heiser, General Counsel at to thank you. You may begin.

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Unidentified_2 [2]
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The press release announcing the Oncology Institute's results for the third quarter of 2024 are available at the investors section of the company's website. The Oncology Institute dotcom, a replay of this call

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