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The Oncology Institute of Hope and Innovation is a premier cancer treatment center in Los Angeles, offering comprehensive programs to support patients and families dealing with cancer. Their dedicated team provides personalized treatment plans and services across 8 locations in Southern California.
The Oncology Institute Inc focuses on cancer prevention, diagnosis, treatment, research, and education. Services include infusion centers, in-house dispensary, outpatient transfusions, stem cell transplants, financial counseling, clinical trials, lab testing, and end-of-life support. The company operates in three segments: dispensary, patient services, and clinical trials.
The Oncology Institute (TOI), a leading value-based oncology group in the U.S., is set to announce its Q1 2023 financial results on May 10, 2023, after market close. A conference call will follow at 5:00 p.m. ET, accessible via phone or webcast. Founded in 2007, TOI provides specialized cancer care to approximately 1.7 million patients through its network of over 60 clinics and more than 100 clinicians. With a focus on evidence-based treatments and clinical trials, TOI is committed to enhancing cancer care delivery. For more details, visit TOI's investor relations webpage.
The Oncology Institute (NASDAQ: TOI) reported an adjustment to its financials for Q4 and FY 2022, resulting in a $1.5 million increase in net loss for Q4 and a $1.5 million decrease in net income for the full year. In Q4, revenue rose 36.6% to $71 million, while gross profit increased 87.6% to $16 million. The company ended 2022 with $132 million in cash. Despite facing challenges, TOI exceeded revised revenue and EBITDA guidance. For 2023, the company forecasts revenue of $290-$320 million, up 15%-27%, and anticipates a net loss of $(25) to $(28) million, while projecting growth in value-based lives to 1.75-2 million.
The Oncology Institute reported a 36.6% revenue increase to $71 million for Q4 2022, with a net loss of $9.5 million, improved from a loss of $10.2 million in Q4 2021. Full-year revenue reached $252 million, up 24.4%, with a net income of $1.7 million, a significant increase from the prior year. The company ended 2022 with $132 million in cash and completed six practice acquisitions, expanding its market count from 10 to 15. They anticipate 2023 revenue guidance between $290 million and $320 million, reflecting 15% to 27% growth over 2022. Adjusted EBITDA for 2023 is projected at $(25) to $(28) million.
The Oncology Institute (NASDAQ: TOI) announced participation in key investor conferences in March 2023. Senior management will present at:
- Cowen 43rd Annual Healthcare Conference on March 7 at 2:50 PM ET in Boston, featuring Daniel Virnich, M.D., MBA, President.
- Oppenheimer 33rd Annual Healthcare Conference on March 13 at 10:00 AM ET, virtually, featuring Brad Hively, CEO.
- Jefferies Value-Based Healthcare Summit on March 13 at 1:15 PM ET in Miami, also featuring Brad Hively, CEO.
Webcasts of the presentations will be available for interested investors on the company’s website.
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