Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Oncology Institute, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
188
203
252
324
393
503
Selling, general and administrative
41.9
83.4
120
114
108
106
General and administrative
0.31
Operating income
-8.2
-45.9
-82
-77
-60.1
-36.1
Interest expense
0.35
0.32
6.78
7.5
11.3
Interest income
0.25
Other non-operating income
-6.62
34.3
81.9
-6.09
-4.55
-24.7
Pre-tax income
-14.8
-11.6
-0.09
-83.1
-64.7
-60.7
Income tax
-0.49
-0.67
-0.24
-0.04
0
-0.13
Net income
-14.3
-10.9
0.15
-83.1
-64.7
-60.6
EBITDA
-5.02
-42.5
-77.5
-71.1
-53.8
-29.1
EPS, basic
-0.24
-0.16
0.00
-0.92
-0.71
-0.54
EPS, diluted
-0.24
-0.16
-0.21
-0.92
-0.71
-0.54
Shares, basic (weighted)
59.1
66.2
72.8
73.7
75
92.4
Shares, diluted (weighted)
59.1
66.2
80.6
73.7
75
92.4
Balance sheet
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.9
115
14
33.5
49.7
33.6
Short-term investments
0
59.8
49.4
0
Receivables
17.1
20
39.8
42.4
48.3
59
Inventory
4.35
6.44
9.26
13.7
10
16.9
Other current assets
2.11
11.2
6.92
4.05
4.03
2.99
Total current assets
29.7
154
130
143
112
113
Property, plant and equipment
2.1
4.19
8.55
10.9
11.9
10.7
Lease right-of-use assets
0
24.5
29.2
25.8
22.4
Goodwill
14.2
26.6
21.4
7.23
7.23
7.23
Intangible assets
19.5
18.2
18
17.9
14.8
11
Long-term investments
0
58.4
0
Other non-current assets
0.12
0.32
0.48
0.56
0.59
0.61
Total assets
65.7
203
262
209
173
165
Accounts payable
12.6
15.6
9.37
14.4
24.3
43.2
Accrued liabilities
9.45
13.9
14.6
14
21.1
20.6
Deferred revenue
0.26
1.14
0.55
2.35
2.28
Short-term debt
5.37
0.18
0
Total current liabilities
28.6
29.8
29.7
34.8
52.2
71
Long-term debt
6.56
0
80.6
86.8
93.1
77.4
Lease liabilities
0
22.1
26.5
23.2
19.1
Other non-current liabilities
0.81
6.9
0.87
0.37
0.13
0.03
Total liabilities
37.6
99.3
138
152
169
180
Total debt
11.9
0.18
80.6
86.8
93.1
77.4
Paid-in capital
80.4
167
186
204
215
257
Retained earnings
-52.3
-63.2
-63.1
-146
-211
-271
Treasury stock
0
-1.02
-1.02
-1.02
Shareholders' equity
28.1
104
123
57
3.59
-15.7
Total equity
28.1
104
123
57
3.59
-15.7
Total liabilities and equity
65.7
203
262
209
173
165
Shares outstanding
5.75
73.2
73.3
74.1
75.7
98.9
Cash flow statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-8.34
-10.9
0.15
-83.1
-64.7
-60.6
Depreciation and amortization
3.18
3.34
4.41
5.87
6.29
6.94
Stock-based compensation
0.15
24.5
27.7
17.8
11.2
4.55
Deferred income tax
-1.34
-1.24
-0.26
-0.08
0
-0.03
Change in receivables
-6.76
-2.2
-20.3
-4.56
-5.98
-12.3
Change in inventory
-0.47
-1.84
-1.73
-4.39
3.64
-6.84
Change in payables
3.76
2.92
-6.19
5.06
9.22
19.6
Cash from operations
0.51
-32.7
-61.8
-36.3
-26.5
-24.6
Capital expenditures
-1.19
-2.85
-5.53
-4.57
-3.79
-3.2
Acquisitions
-0.15
-9.11
-8.58
-4.46
0
Purchases of investments
0
-118
-9.6
0
Sales and maturities of investments
0
81.3
50
0
Cash from investing
-8.84
-12.2
-132
62.6
46.2
-3.07
Debt issued
12.5
0
110
0
Debt repaid
-0.28
-7.22
0
0
-20
Stock issued
0.05
0
0.86
0.13
0
13.8
Share buybacks
0
-9
-1.02
0
Cash from financing
11.9
154
92.2
-6.85
-3.49
11.6
Net change in cash
3.55
109
-101
19.5
16.2
-16.1
Free cash flow
-0.69
-35.5
-67.3
-40.9
-30.3
-27.8
Interest paid
0.23
0.28
0.22
4.51
4.5
3.91
Income taxes paid
0.21
1.73
0.15
0.4
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $5.13 on August 3, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-4.4%
Operating income / revenue.
EBITDA margin
-3.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-6.2%
Pre-tax income / revenue.
Net margin
-6.2%
Net income / revenue.
FCF margin
-0.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
0.1%
Cash from operations / revenue.
Return on assets (ROA)
-20.4%
Net income / average total assets.
Return on invested capital (ROIC)
-148.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
19.0%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
0.9%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.6%
Capital expenditures / revenue.
D&A / revenue
1.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
27.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
25.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
21.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-538.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-4.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-14.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
20.2%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
23.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
4.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
9.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.36x
Current assets / current liabilities.
Quick ratio
1.13x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.43x
(Cash + short-term investments) / current liabilities.
Debt / assets
44.8%
Total debt / total assets.
Liabilities / assets
114.0%
Total liabilities / total assets.
Net debt
$38.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.35
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$5.70
Revenue / diluted weighted shares.
FCF per share
-$0.03
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.00
Cash from operations / diluted weighted shares.
Book value per share
-$0.25
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.89x
Market cap / revenue.
P/OCF
1,594x
Market cap / cash from operations, when positive.
EV/Sales
0.96x
Enterprise value / revenue.
FCF yield
-0.6%
Free cash flow / market cap.
Earnings yield
-6.9%
Net income / market cap (the inverse of P/E).
What was Oncology Institute, Inc.'s revenue in fiscal 2025?
Oncology Institute, Inc. reported revenue of $502.7M for fiscal 2025, 27.8% higher than the year before.
Was Oncology Institute, Inc. profitable in fiscal 2025?
No. It reported a net loss of $60.6M.
How much free cash flow did Oncology Institute, Inc. generate in fiscal 2025?
Cash from operations of $24.6M minus capital expenditures of $3.2M left free cash flow of -$27.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.