The following is a summary of the The Oncology Institute, Inc. (TOI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• The Oncology Institute's revenue for Q1 2024 grew by 24% YoY driven by a 64% increase in oral drug revenue.

• The first quarter was marked by record prescription sales and revenue through its dispensaries and pharmacy with over 4,500 fills, contributing over $39 million in revenue.

• Consolidated revenue for Q1 2024 was $94.7 million, while the gross profit stood at $11.97 million.

• Operational losses increased due to compressing drug margins.

Business Progress:

• TOI signed seven new capitation and value-based contracts across three states contributing to growth.

• The company network grew with the addition of seven new clinicians and two new clinics in South Florida.

• Strategic changes are planned for procurement procedures to improve drug margins and control costs.

• Expansion into the Oregon market is in the pipeline through new contracts for Q4.

• A new Chief Development Officer was appointed to oversee growth initiatives.

More details: The Oncology Institute IR

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