Revenue: As of FY2026 Q1, the actual value is USD 147.44 M, beating the estimate of USD 141.98 M.EPS: As of FY2026 Q1, the actual value is USD -0.02.EBIT: As of FY2026 Q1, the actual value is USD -4.579 M.<h4>Segment Revenue</h4><ul><li>Patient Services Revenue:<ul><li>Three Months Ended March 31, 2026: $59,087 </li><li>Three Months Ended March 31, 2025: $53,068 </li><li>YoY Change: Increase of $6,019 (11.3%) </li></ul></li><li>Specialty Pharmacy Revenue:<ul><li>Three Months Ended March 31, 2026: $87,541 </li><li>Three Months Ended March 31, 2025: $49,293 </li><li>YoY Change: Increase of $38,248 (77.6%) </li></ul></li><li>Clinical Trials &amp; Other Revenue:<ul><li>Three Months Ended March 31, 2026: $813 </li><li>Three Months Ended March 31, 2025: $2,045 </li><li>YoY Change: Decrease of - $1,232 (-60.2%) </li></ul></li><li>Total Operating Revenue:<ul><li>Three Months Ended March 31, 2026: $147,441 </li><li>Three Months Ended March 31, 2025: $104,406 </li><li>YoY Change: Increase of $43,035 (41.2%) </li></ul></li></ul><h4>Operational Metrics</h4><ul><li>Direct Costs – Patient Services:<ul><li>Three Months Ended March 31, 2026: $53,383 </li><li>Three Months Ended March 31, 2025: $47,080 </li><li>YoY Change: Increase of $6,303 (13.4%) </li></ul></li><li>Direct Costs – Specialty Pharmacy:<ul><li>Three Months Ended March 31, 2026: $70,743 </li><li>Three Months Ended March 31, 2025: $39,863 </li><li>YoY Change: Increase of $30,880 (77.5%) </li></ul></li><li>Direct Costs – Clinical Trials &amp; Other:<ul><li>Three Months Ended March 31, 2026: $0 </li><li>Three Months Ended March 31, 2025: $214 </li><li>YoY Change: Decrease of - $214 (-100.0%) </li></ul></li><li>Selling, General and Administrative Expense (SG&amp;A):<ul><li>Three Months Ended March 31, 2026: $28,212 </li><li>Three Months Ended March 31, 2025: $25,376 </li><li>YoY Change: Increase of $2,836 (11.2%) </li></ul></li><li>Depreciation and Amortization:<ul><li>Three Months Ended March 31, 2026: $1,616 </li><li>Three Months Ended March 31, 2025: $1,784 </li><li>YoY Change: Decrease of - $168 (-9.4%) </li></ul></li><li>Total Operating Expenses:<ul><li>Three Months Ended March 31, 2026: $153,954 </li><li>Three Months Ended March 31, 2025: $114,317 </li><li>YoY Change: Increase of $39,637 (34.7%) </li></ul></li><li>Loss from Operations:<ul><li>Three Months Ended March 31, 2026: - $6,513 </li><li>Three Months Ended March 31, 2025: - $9,911 </li></ul></li><li>Net Loss:<ul><li>Three Months Ended March 31, 2026: - $2,492 </li><li>Three Months Ended March 31, 2025: - $19,585 </li></ul></li><li>Adjusted EBITDA:<ul><li>Three Months Ended March 31, 2026: - $2,438 </li><li>Three Months Ended March 31, 2025: - $5,109 </li><li>YoY Change: Increase of $2,671 (-52.3%) </li></ul></li><li>Interest Expense, Net:<ul><li>Three Months Ended March 31, 2026: $1,934 </li><li>Three Months Ended March 31, 2025: $5,570 </li><li>YoY Change: Decrease of - $3,636 (-65.3%) </li></ul></li><li>Change in Fair Value of Derivative Warrant Liabilities:<ul><li>Three Months Ended March 31, 2026: - $168 </li><li>Three Months Ended March 31, 2025: $43 </li><li>YoY Change: Decrease of - $211 (-490.7%) </li></ul></li><li>Change in Fair Value of Conversion Option Derivative Liabilities:<ul><li>Three Months Ended March 31, 2026: - $4,996 </li><li>Three Months Ended March 31, 2025: $3,309 </li><li>YoY Change: Decrease of - $8,305 (-251.0%) </li></ul></li></ul><h4>Cash Flow</h4><ul><li>Net cash and cash equivalents used in operating activities:<ul><li>Three Months Ended March 31, 2026: - $2,215 </li><li>Three Months Ended March 31, 2025: - $4,988 </li></ul></li><li>Net cash and cash equivalents used in investing activities:<ul><li>Three Months Ended March 31, 2026: - $1,042 </li><li>Three Months Ended March 31, 2025: - $202 </li></ul></li><li>Net cash and cash equivalents used in financing activities:<ul><li>Three Months Ended March 31, 2026: - $28 </li><li>Three Months Ended March 31, 2025: - $4,740 </li></ul></li><li>Net decrease in cash and cash equivalents:<ul><li>Three Months Ended March 31, 2026: - $3,285 </li><li>Three Months Ended March 31, 2025: - $9,930 </li></ul></li><li>Cash and cash equivalents at end of period:<ul><li>March 31, 2026: $30,280 </li><li>March 31, 2025: $39,739 </li></ul></li></ul><h4>Unique Metrics</h4><ul><li>Affiliated and Network Clinics:<ul><li>March 31, 2026: 155 </li><li>March 31, 2025: 81 </li></ul></li><li>Markets:<ul><li>March 31, 2026: 17 </li><li>March 31, 2025: 18 </li></ul></li><li>Lives under value-based contracts:<ul><li>March 31, 2026: 2.0 million </li><li>March 31, 2025: 2.0 million </li></ul></li></ul><h4>Future Outlook and Strategy</h4>The Oncology Institute, Inc. aims to deliver high-quality, value-based oncology care by reducing wasteful spending and improving patient outcomes, aligning with payor and employer goals for enhanced access and lower costs . The company plans to leverage technology by launching AI pilots for prior-authorization and denial automation, and a next-generation call center, expecting increased efficiency and scale . While selling, general and administrative expenses are projected to increase in absolute terms, they are expected to decrease as a percentage of revenue over the long term as the business grows .

Oncology Institute | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 147.44 M