The Oncology Institute, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 11:30 am
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The Oncology Institute, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 80.22 million compared to USD 60.92 million a year ago. Net loss was USD 16.9 million compared to USD 5.45 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.19 compared to USD 0.06 a year ago.
For the six months, revenue was USD 156.42 million compared to USD 116.08 million a year ago. Net loss was USD 46.9 million compared to net income of USD 13.83 million a year ago. Basic loss per share from continuing operations was USD 0.52 compared to basic earnings per share from continuing operations of USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.52 compared to diluted earnings per share from continuing operations of USD 0.15 a year ago.
The Oncology Institute, Inc. is a value-based oncology company. The Company manages community-based oncology practices which serve patients at 83 clinic locations across 15 markets and five states throughout the United States. The Company's segment includes patient services, dispensary, and clinical trials & other. Its managed clinics provide a range of medical oncology services, including physician services, in-house infusion and dispensary, radiation, programs like outpatient blood product transfusions, along with 24/7 patient support. The Company, through TOI Clinical Research, LLC (TCR), provides and manages clinical trial services and research for the benefit of cancer patients. It also provides management services to 14 clinic locations owned by independent oncology practices. The Company and its affiliated providers have contractual relationships with payors serving a variety of patients, including Medicare Advantage (MA), Medicaid, and commercial patients.
THE ONCOLOGY INSTITUTE, INC. 
