The Oncology Institute Inc (NAS:TOI)
$ 0.2999 0.0115 (3.99%) Market Cap: 22.64 Mil Enterprise Value: 96.46 Mil PE Ratio: 0 PB Ratio: 0.75 GF Score: 40/100
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Q2 2024 Oncology Institute Inc Earnings Call Transcript

Aug 13, 2024 / 09:00 PM GMT
Release Date Price: $0.55 (+13.40%)

Key Points

Positve
  • Revenue grew 23% in Q2 2024 compared to the prior year period.
  • Signed a record number of new capitation contracts, including three additional contracts in Q2.
  • California pharmacy projected to generate over $70 million in incremental revenue for the full year.
  • Operational efficiencies have kept SG&A flat despite significant top-line growth.
  • Positive momentum expected in the second half of 2024 with improved IV margins and new capitation contracts going live.
Negative
  • Gross margin was lower than expected due to continued reimbursement pressures on IV and oral drug margins.
  • Oral margins compressed by 750 basis points compared to Q2 2023.
  • Full year guidance for gross profit has been updated to $62 million to $69 million, and adjusted EBITDA to negative $21 million to negative $28 million.
  • Net loss for Q2 2024 was $15.5 million, an improvement but still a significant loss.
  • Cash, cash equivalents, and short-term investments reduced by $19.5 million relative to Q1 2024 due to operating losses and deferred acquisition payments.


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

TOI.OQ - Oncology Institute Inc
Q2 2024 Oncology Institute Inc Earnings Call
Aug 13, 2024 / 09:00PM GMT

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Conference Call Participants
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* Mark Hueppelsheuser
* Daniel Virnich
* Mihir Shah
* Jack Slevin

=====================
Presentation
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Operator [1]
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Good afternoon, and welcome to The Oncology Institute Second Quarter 2024 Earnings Conference Call. Today's call is being recorded. [Operator Instructions] At this time, I would like to turn the conference over to Mark Hueppelsheuser, General Counsel at TOI. Thank you, and you may begin.

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Mark Hueppelsheuser, [2]
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The press release announcing The Oncology Institute's
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