TOI amends Q4/FY2022 results: net loss up $1.5M due to goodwill tax adjustment

Oncology Institute, Inc.

Net loss for Q4 2022 increased by $1.5M; net income for FY2022 decreased by $1.5M due to tax deductible goodwill adjustment.
Updated Q4 revenue $71M (+36.6% YoY), gross profit $16M (+87.6% YoY), net loss $11.0M.
FY2022 ended with $132M cash; added 3 gain share contracts; market count increased to 15.
Management: surpassed top end of revised 2022 guidance for Revenue, Gross Profit, Adjusted EBITDA.
Remediated two material weaknesses; continues plan for complex accounting transactions.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Oncology Institute, Inc. reported fourth quarter ended December 31, 2022 results: revenue $71 million, net income Net loss of $11.0 million, EPS $(0.12) and $(0.16).

Period: fourth quarter ended December 31, 2022
Revenue: $71 million
Net income: Net loss of $11.0 million
EPS: $(0.12) and $(0.16)
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Financial Highlights • Consolidated revenue of $71 million, an increase of 36.6% from $52 million compared to the prior year quarter • Gross profit of $16 million, an increase of 87.6% compared to the prior year quarter • Net loss of $11.0 million compared to net loss of $10.2 million for the prior year quarter • Basic and diluted earnings per share of $(0.12) and $(0.16), respectively, compared to $(0.13) for the prior year quarter

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Source: SEC EDGAR

accession 0001628280-23-008370

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