The chart below shows how TOI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, TOI sees a +11.53% change in stock price 10 days leading up to the earnings, and a -29.32% change 10 days following the report. On the earnings day itself, the stock moves by +2.86%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Strong Revenue Surge: Overall, revenue grew 21.8% in the third quarter compared to the prior year period, driven by an exceptional oral drug revenue growth of approximately 80%.
Third Quarter Revenue Increase: Consolidated revenue for the third quarter 2024 was $99.9 million, an increase of 21.8% compared to Q3 2023 and a 1.3% increase compared to Q2 2024.
Gross Profit Increase: Gross profit in Q3 2024 was $14.4 million, an increase of 10.3% compared to Q2 2024, attributed to improved IV margins.
SG&A Expense Improvement: SG&A expenses were $28.2 million in Q3 2024, an improvement of 560 basis points compared to Q3 2023, representing 28.2% of revenue, improving 820 basis points from Q3 2023.
New Capital Contracts Signed: We signed 13 new capital contracts across the organization year-to-date, contributing to our growth momentum.
Negative
Third Quarter Revenue Decline: Consolidated revenue for the third quarter 2024 was $99.9 million, a decrease of 1.3% compared to Q2 2024.
Operational Loss Stability: Loss from operations for Q3 2024 was $13.9 million, flat compared to Q3 2023.
Net Loss Improvement: Net loss for Q3 2024 was $16.1 million, an improvement of $1.3 million compared to Q3 2023.
Adjusted EBITDA Comparison: Adjusted EBITDA for Q3 2024 was negative $8.2 million compared to negative $5.3 million in Q3 2023.
NASDAQ Share Price Warning: The company received a notice from NASDAQ indicating that its share price had fallen below the $1 threshold for 30 consecutive business days.
The Oncology Institute, Inc. (TOI) Q3 2024 Earnings Call Transcript
TOI.O
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