Revenue: As of FY2025, the actual value is USD 502.73 M.

EPS: As of FY2025, the actual value is USD -0.54.

EBIT: As of FY2025, the actual value is USD -24.81 M.

The Oncology Institute, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2025. The Form 8-K filing itself does not detail financial and operational metrics, but references a press release (Exhibit 99.1) which contains this information .

Financial Highlights for Fourth Quarter 2025

• Gross Profit: The Oncology Institute reported a gross profit of $22.7 million, marking a 55.2% increase compared to Q4 2024 .
• Net Loss: The net loss improved to -$7.5 million from -$13.2 million in the prior year period .
• Adjusted EBITDA: Adjusted EBITDA reached $147 thousand, a significant improvement from -$7.8 million in the prior year period .
• Cash Flow from Operations: Cash flow from operations was approximately $3.2 million, attributed to disciplined working capital management and an overall increase in gross profit margin .
• Loss from Operations: Loss from operations was -$6.907 million, an improvement from -$11.929 million in the prior year period .
• Total Operating Expenses: Total operating expenses for the quarter were $148.864 million, up from $112.196 million in the prior year period .

Financial Highlights for Year Ended 2025

• Gross Profit: Gross profit increased to $76.4 million, a 41.6% rise compared to the year ended 2024 .
• Net Loss: The net loss was -$60.6 million, an improvement from -$64.7 million in the prior year .
• Adjusted EBITDA: Adjusted EBITDA improved to -$12.4 million from -$35.7 million in the prior year .
• Cash and Cash Equivalents: As of December 31, 2025, cash and cash equivalents stood at $33.6 million .
• Net Cash and Cash Equivalents Used in Operating Activities: The company used -$24.587 million in operating activities, an improvement from -$26.538 million in the previous year .
• Free Cash Flow: Free Cash Flow was -$23.873 million, an improvement from -$25.829 million in the previous year .
• Loss from Operations: Loss from operations was -$36.083 million, an improvement from -$60.118 million in the prior year .
• Total Operating Expenses: Total operating expenses for the year were $538.812 million, up from $453.530 million in the prior year .

Operational Metrics (Year Ended 2025)

• Capitated Contracts: The Oncology Institute initiated 9 new capitated contracts in 2025 across CA, FL, and NV, adding approximately 260,000 additional lives under management .
• Payor Partnerships: The company ramped up its capitation partnership with Elevance in Florida and initiated agreements with Humana and CarePlus, expanding MA lives in South Florida by approximately 22,000 .
• Affiliated and Network Clinics: As of December 31, 2025, the number of affiliated and network clinics increased to 146 from 86 in 2024 .
• Markets: The company expanded its presence to 17 markets in 2025, up from 16 in 2024 .
• Lives Under Value-Based Contracts: Lives under value-based contracts grew to 2.0 million in 2025 from 1.9 million in 2024 .

Outlook for Fiscal Year 2026

The Oncology Institute projects fiscal year 2026 revenue to be between $630 million and $650 million, with an expected gross profit of $97 million to $107 million . The company anticipates Adjusted EBITDA to range from $0 to $9 million and Free Cash Flow to be between -$15 million and $5 million . Approximately $150 million in capitated revenue is expected, with first quarter Adjusted EBITDA projected between -$1 million and -$3 million due to seasonality .