The Oncology Institute, Inc. Overview
Pro stress-test →The Oncology Institute (NASDAQ: TOI), founded in 2007, is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of approximately 1.9 million patients, including clinical trials, transfusions, and other care delivery models, with over 180 employed and affiliate clinicians operating over 100 clinics and affiliate locations of care across five states. The company is undergoing significant scaling through delegated capitation contracts and specialty pharmacy expansion.
Strategic Profile
Pro stress-test →In Q1 2026, TOI delivered 41% year-over-year revenue growth, driven in part by strong capitated revenue growth and record performance in its pharmacy business. For 2026, TOI anticipates total revenue in the range of $630–650 million, reflecting 28% growth from midpoint 2025 guidance, including approximately $150 million of Capitation revenue, reflecting continued expansion of delegated contracts in Florida and organic growth. Management projects annual revenue growth of approximately 20% through 2028, with Capitation and Dispensary revenue growing to 30% and 50% of total revenue respectively, reflecting migration toward comprehensive oncology care in a value-based landscape and expanding margins to the mid-single-digit range as a percentage of revenue.
Competitive Landscape
Pro stress-test →The Oncology Institute competes within value-based community oncology against large integrated health systems (UnitedHealth, CVS Health), regional oncology networks, and specialty pharmacy providers. Competitors include major players in capitated Medicare Advantage (Elevance Health partnership), academic medical centers, and national cancer center chains. TOI's competitive differentiation lies in its community-based delivery model, delegated capitation expertise, proprietary specialty pharmacy, and clinical outcome metrics.
Industry Context
The Oncology Institute, Inc. operates in Value-based oncology care.
Key facts
Founded: 2007 · Headquarters: Cerritos, US · Employees: 1,000+ · Revenue: $630–650M (2026 guidance); ~$490M (2025 annualized run-rate based on Q4 2025) · Market cap: N/A