---
title: "Oncology Institute - CW22 | 8-K: FY2025 Revenue: USD 502.73 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278935887.md"
datetime: "2026-03-12T20:11:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278935887.md)
  - [en](https://longbridge.com/en/news/278935887.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278935887.md)
---

# Oncology Institute - CW22 | 8-K: FY2025 Revenue: USD 502.73 M

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 .

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