Oncology Institute, Inc.
TOI, DFPH, TOIIW · Services-Offices & Clinics of Doctors of Medicine · 100.0M shares · +6%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$10M (gross $1M, SBC $11M)
Reference price $5.02 · est. market cap ~$502M — last insider purchase, 2026-06-23 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D45The Oncology Institute — community-oncology operator with negative equity and losses.
Strengths
- Value-based-oncology and dispensary model
Risks
- Net loss; negative book equity (D/E -4.9)
- Reimbursement and cash-burn risk
Notable findings
- Cyber incidentRecent 8-K item 1.05 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -4.92)
- Net lossNet loss (net margin -12.1%)
- Cash burnNegative free cash flow (-27.8M)
- Insider buyingInsider buying — 13 open-market buy(s) by 1 insider(s) (~$2M, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 4 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$462,106, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-7.2%
Net margin
-12.1%
Return on equity
385.5%
Return on assets
-36.8%
ROIC
-46.2%
Revenue growth (QoQ)
3.9%
Debt / equity
-4.9×
Current ratio
1.6×
Free cash flow
-$28M
EBITDA
-$29M
Tangible book value
-$34M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | Chernett Jorey | Buy | 18K | $5.02 |
| 2026-06-08 | Podnos Yale | Sell | 23K | $5.38 |
| 2026-06-04 | Chernett Jorey | Buy | 12K | $4.75 |
| 2026-05-21 | Virnich Daniel | Other | 23K | $4.47 |
| 2026-05-21 | Carter Robert Ross | Other | 1.6K | $4.47 |
| 2026-05-21 | Podnos Yale | Other | 1.8K | $4.47 |
| 2026-05-20 | Chernett Jorey | Buy | 34K | $4.07 |
| 2026-05-19 | Chernett Jorey | Buy | 5.0K | $4.05 |
| 2026-05-19 | Chernett Jorey | Buy | 30K | $4.09 |
| 2026-04-16 | Kaushal Mohit | Sell | 38K | $3.50 |
| 2026-04-14 | Kaushal Mohit | Sell | 57K | $3.50 |
| 2026-04-09 | Chernett Jorey | Buy | 20K | $3.10 |
| 2026-03-27 | Langsam Jeffrey | Grant | 70K | — |
| 2026-03-27 | England Kristin | Grant | 56K | — |
| 2026-03-27 | Podnos Yale | Grant | 66K | — |
| 2026-03-27 | Podnos Yale | Other | 16K | $3.07 |
| 2026-03-27 | Carter Robert Ross | Grant | 203K | — |
| 2026-03-27 | Carter Robert Ross | Other | 20K | $3.07 |
| 2026-03-27 | Virnich Daniel | Grant | 671K | — |
| 2026-03-27 | Virnich Daniel | Other | 99K | $3.07 |
| 2026-03-27 | Chernett Jorey | Buy | 27K | $2.96 |
| 2026-03-26 | Chernett Jorey | Buy | 50K | $3.15 |
| 2026-03-24 | Chernett Jorey | Buy | 125K | $3.11 |
| 2026-03-20 | Chernett Jorey | Buy | 25K | $3.35 |
| 2026-03-17 | Podnos Yale | Other | 3.4K | $3.59 |
| 2026-03-17 | Chernett Jorey | Buy | 75K | $3.42 |
| 2026-03-17 | Virnich Daniel | Other | 12K | $3.59 |
| 2026-03-17 | Carter Robert Ross | Other | 1.3K | $3.59 |
| 2026-03-16 | Chernett Jorey | Buy | 61K | $3.29 |
| 2026-03-13 | Chernett Jorey | Buy | 263K | $2.92 |
| 2026-01-02 | Carter Robert Ross | Sell | 247 | $3.56 |
| 2026-01-02 | Carter Robert Ross | Other | 244 | $3.67 |
| 2025-12-15 | Hively Brad | Sell | 13K | $3.77 |
| 2025-11-20 | Pacala Mark L | Grant | 35K | — |
| 2025-11-20 | Hively Brad | Grant | 42K | — |
| 2025-11-20 | Hively Brad | Grant | 32K | — |
| 2025-11-20 | McGeorge Anne | Grant | 68K | — |
| 2025-11-20 | McGeorge Anne | Grant | 40K | — |
| 2025-11-20 | Kaushal Mohit | Grant | 51K | — |
| 2025-11-20 | Kaushal Mohit | Grant | 40K | — |
| 2025-11-20 | Ling Gabriel | Grant | 46K | — |
| 2025-11-20 | Ling Gabriel | Grant | 37K | — |
| 2025-11-20 | Johnson Karen Marie | Grant | 48K | — |
| 2025-11-20 | Johnson Karen Marie | Grant | 37K | — |
| 2025-11-20 | Pacala Mark L | Grant | 46K | — |
| 2025-11-18 | Pacala Mark L | Sell | 1.2K | $4.00 |
| 2025-11-18 | Ling Gabriel | Other | 141K | — |
| 2025-11-18 | M33 Growth I L.P. | Other | 591K | — |
| 2025-11-18 | M33 Growth I L.P. | Other | 12K | — |
| 2025-11-18 | M33 Growth I L.P. | Other | 2.5M | — |
| 2025-11-18 | Pacala Mark L | Sell | 2.2K | $4.00 |
| 2025-11-18 | Pacala Mark L | Sell | 47K | $4.00 |
| 2025-11-17 | Virnich Daniel | Grant | 6.5K | — |
| 2025-11-17 | Carter Robert Ross | Grant | 195 | — |
| 2025-11-17 | Podnos Yale | Grant | 2.1K | — |
| 2025-11-12 | Virnich Daniel | Grant | 6.2K | — |
| 2025-11-12 | Podnos Yale | Grant | 306 | — |
| 2025-11-12 | Podnos Yale | Grant | 1.2K | — |
| 2025-09-04 | M33 Growth I L.P. | Sell | 6.0M | $3.09 |
| 2025-09-04 | M33 Growth I L.P. | Sell | 682K | $3.09 |
| 2025-08-19 | Hively Brad | Sell | 20K | $4.06 |
| 2025-07-24 | BARASCH RICHARD A | Other | 288K | — |
| 2025-07-22 | England Kristin | Grant | 98K | — |
| 2025-06-18 | BARASCH RICHARD A | Conversion | 620K | — |
| 2025-06-17 | BARASCH RICHARD A | Option exercise | 679K | $1.20 |
| 2025-06-17 | BARASCH RICHARD A | Tax withheld | 311K | $2.62 |
| 2025-06-17 | BARASCH RICHARD A | Conversion | 160K | — |
| 2025-06-05 | M33 Growth I L.P. | Sell | 674K | $3.05 |
| 2025-06-05 | M33 Growth I L.P. | Sell | 76K | $3.05 |
| 2025-06-03 | Hively Brad | Option exercise | 685K | $0.85 |
| 2025-06-03 | Hively Brad | Option exercise | 105K | $0.48 |
| 2025-06-03 | Hively Brad | Option exercise | 131K | $1.87 |
| 2025-06-03 | Hively Brad | Option exercise | 946K | $0.85 |
| 2025-06-03 | Hively Brad | Sell | 1.9M | $2.87 |
| 2025-06-03 | Hively Brad | Sell | 109K | $2.87 |
| 2025-05-21 | Virnich Daniel | Disposition | 20K | $2.67 |
| 2025-05-21 | Langsam Jeffrey | Grant | 57K | — |
| 2025-05-21 | Podnos Yale | Disposition | 1.8K | $2.67 |
| 2025-05-21 | Carter Robert Ross | Disposition | 1.6K | $2.67 |
| 2025-05-21 | Castle Jeremy | Disposition | 5.6K | $2.67 |
| 2025-05-20 | M33 Growth I L.P. | Sell | 1.8M | $2.71 |
| 2025-05-20 | M33 Growth I L.P. | Sell | 204K | $2.71 |
| 2025-03-31 | Castle Jeremy | Grant | 162K | — |
| 2025-03-31 | Virnich Daniel | Grant | 1.1M | — |
| 2025-03-31 | Podnos Yale | Grant | 157K | — |
| 2025-03-31 | Carter Robert Ross | Grant | 197K | — |
| 2025-03-26 | Castle Jeremy | Buy | 9.1K | $1.04 |
| 2025-03-26 | Carter Robert Ross | Buy | 9.1K | $1.04 |
| 2025-03-26 | BARASCH RICHARD A | Buy | 1.4M | $1.04 |
| 2025-03-26 | M33 Growth I L.P. | Grant | 2.7M | $1.04 |
| 2025-03-26 | Johnson Karen Marie | Buy | 36K | $1.04 |
| 2025-03-26 | Hively Brad | Buy | 45K | $1.04 |
| 2025-03-26 | Virnich Daniel | Buy | 23K | $1.04 |
| 2025-03-26 | Podnos Yale | Buy | 9.1K | $1.04 |
| 2025-03-26 | Pacala Mark L | Buy | 91K | $1.04 |
| 2025-03-26 | Hively Brad | Buy | 9.1K | $1.04 |
| 2025-03-19 | Virnich Daniel | Disposition | 10K | $0.89 |
| 2025-03-19 | Podnos Yale | Disposition | 3.0K | $0.89 |
| 2025-03-19 | Carter Robert Ross | Disposition | 1.1K | $0.89 |
| 2025-01-06 | Carter Robert Ross | Disposition | 258 | $0.34 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-18 | Shareholder vote | filing ↗ |
| 2026-05-22 | CybersecurityExhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-13 | Reg FDExhibits | filing ↗ |
| 2026-03-12 | ResultsExhibits | filing ↗ |
| 2026-02-23 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-01-12 | ResultsExhibits | filing ↗ |
| 2026-01-07 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-17 | 0001553350-26-000093 ↗ |
| 8-K | 2026-05-22 | 2026-05-20 | 0001079973-26-000721 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001799191-26-000010 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001079973-26-000611 ↗ |
| 8-K | 2026-03-13 | 2026-03-13 | 0001079973-26-000304 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0001799191-26-000007 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001079973-26-000291 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001553350-26-000007 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001079973-26-000068 ↗ |
| 8-K | 2026-01-07 | 2026-01-02 | 0001079973-26-000051 ↗ |
| 8-K | 2025-12-01 | 2025-11-26 | 0001553350-25-000168 ↗ |
| 8-K | 2025-11-14 | 2025-11-14 | 0001079973-25-001724 ↗ |