The Oncology Institute, Inc. (TOI) Revenue History
Annual and quarterly revenue from 2019 to 2024
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2024)
TOI's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
TOI Revenue Analysis (2019–2024)
As of March 2, 2026, The Oncology Institute, Inc. (TOI) generated trailing twelve-month (TTM) revenue of $461.0 million, reflecting explosive growth of +36.7% year-over-year. The most recent quarter (Q3 2025) recorded $136.6 million in revenue, up 14.0% sequentially.
Looking at the longer-term picture, TOI's 5-year compound annual growth rate (CAGR) stands at +20.4%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $393.4 million in 2024, representing a new all-time high.
Revenue diversification analysis shows TOI's business is primarily driven by Health Care, Patient Service (34%), Dispensary Revenue (30%), and Fee For Service (23%).
When compared to Healthcare sector peers including FMS (+1.5% YoY), DVA (+6.5% YoY), and CCM (-22.5% YoY), TOI has outperformed the peer group in terms of revenue growth. Compare TOI vs FMS →
Peer Comparison
Compare TOI's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TOICurrent | $461M | +36.7% | +20.4% | -15.3% | |
| FMS | $19.6B | +1.5% | +1.9% | 9.3% | |
| DVA | $13.6B | +6.5% | +3.4% | 14.7% | |
| CCM | $384M | -22.5% | +14.1% | -138.6% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $393.4M | +21.3% | $54.0M | 13.7% | $-60,118,000 | -15.3% |
| 2023 | $324.2M | +28.4% | $59.6M | 18.4% | $-77,018,000 | -23.8% |
| 2022 | $252.5M | +24.4% | $52.1M | 20.6% | $-81,951,000 | -32.5% |
| 2021 | $203.0M | +8.3% | $40.8M | 20.1% | $-45,858,000 | -22.6% |
| 2020 | $187.5M | +20.7% | $36.9M | 19.7% | $-8,195,903 | -4.4% |
| 2019 | $155.4M | - | $29.9M | 19.3% | $-2,644,752 | -1.7% |
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Start ComparisonFrequently Asked Questions
Is TOI's revenue growth accelerating or slowing?
TOI revenue is accelerating at +36.7% year-over-year, exceeding the 5-year CAGR of +20.4%. TTM revenue reached $461M. Growth momentum has increased versus prior periods.
What is TOI's long-term revenue growth rate?
The Oncology Institute, Inc.'s 5-year revenue CAGR of +20.4% reflects the sustained expansion pattern. Current YoY growth of +36.7% is above this long-term average.
How is TOI's revenue distributed by segment?
TOI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2024 are available for download. Segment mix reveals concentration and diversification trends.