Oncology Institute, Inc. Q3 FY2024 earnings call

• Introduced new CFO Rob Carter with over a decade of healthcare finance leadership experience.
• Signed 3 additional capitated contracts across two states in Q3, with 13 total YTD; added second capitation contract in Florida and first in Oregon.
• Achieved certification for Radiopharmaceutical Therapy in California radiation oncology practice, targeting Dec go-live and expecting over $1M adjusted EBITDA from it in 2025.
• Revenue grew 21.8% y-o-y, driven by ~80% growth in oral drug revenue; California pharmacy projects over $75M revenue.
• Cash surplus in Q3, took steps to mitigate Part D drug reimbursement challenges, reduced SG&A by 6% y-o-y.
• Completed review of strategic alternatives, Board decided to continue growth; NASDAQ share price below $1, working on compliance.

Consolidated revenue for the third quarter of 2024 was $99.9 million, an increase of 21.8% compared to Q3 2023 and 1.3% compared to Q2 2024. Gross profit in Q3 2024 was $14.4 million, an increase of 10.3% compared to Q2 2024. SG&A including depreciation and amortization was $28.2 million in Q3 2024, improving 560 basis points compared to Q3 2023. Loss from operations for Q3 2024 was $13.9 million, flat compared to Q3 2023. Net loss for Q3 2024 was $16.1 million, an improvement of $1.3 million compared to Q3 2023. Adjusted EBITDA for Q3 2024 was negative $8.2 million compared to negative $5.3 million in Q3 2023. As of the end of Q3 2024, cash and cash equivalents balance was $47.4 million, an increase of $1 million compared to Q2 2024.

• Expect significant improvement in net loss in Q4 due to capitation contracts. Annualized revenue from new capitation deals YTD over $50M.
• Targeting Dec go-live for radiopharmaceutical therapy, expecting over $1M adjusted EBITDA from it in 2025.
• Plan to apply for second NASDAQ listing compliance extension by the current deadline.

• NASDAQ share price below $1 for 30 consecutive business days, risk of non-compliance and possible reverse stock split.
• Reimbursement challenges on Part D drugs.

Q: No actual questions in the provided transcript A: No actual answers in the provided transcript