The Oncology Institute, Inc. (TOI) Revenue History
Annual and quarterly revenue from 2019 to present
TOI Revenue Over Time (2019–2025)
TOI Revenue Growth History
6 of 6 years with positive growth- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- +20.7%
- FY2021 revenue growth
- +8.3%
- FY2022 revenue growth
- +24.4%
- FY2023 revenue growth
- +28.4%
- FY2024 revenue growth
- +21.3%
- FY2025 revenue growth
- +27.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $147.4M | +41.2% |
| Q4 2025 | $142.0M | +41.6% |
| Q3 2025 | $136.6M | +36.7% |
| Q2 2025 | $119.8M | +21.5% |
| Q1 2025 | $104.4M | +10.3% |
| Q4 2024 | $100.3M | +16.9% |
| Q3 2024 | $99.9M | +21.8% |
| Q2 2024 | $98.6M | +22.9% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
TOI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
TOI Revenue Analysis (2019–2025)
Current Revenue & Growth
As of June 13, 2026, The Oncology Institute, Inc. (TOI) generated trailing twelve-month (TTM) revenue of $545.8 million, reflecting explosive growth of +41.2% year-over-year. The most recent quarter (Q1 2026) recorded $147.4 million in revenue, up 3.9% sequentially.
Historical Growth Trajectory
TOI's 5-year compound annual growth rate (CAGR) stands at +21.8%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +25.8% exceeds the 5-year average, indicating an acceleration in the most recent period. The Oncology Institute, Inc.'s highest annual revenue of $502.7 million was recorded in 2025, an all-time high.
Revenue by Segment
TOI's revenue is primarily driven by Health Care, Patient Service (50%), Fee For Service (32%), and Capitated Revenue (17%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Healthcare sector peers — including AIOT (+66.3% YoY), ONCO (-61.8% YoY), and USPH (+4.0% YoY) — TOI has outperformed the peer group in revenue growth. Compare TOI vs AIOT →
TOI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
 TOICurrent | $546M | +41.2% | +21.8% | -7.2% | |
 AIOT | $363M | +66.3% | +34.6% | -7.1% | |
 ONCO | $815,371 | -61.8% | - | -778.2% | |
 USPH | $781M | +4.0% | +13.0% | 10.3% | |
 OPCH | $5.6B | +9.3% | +13.3% | 6.0% | |
 ADUS | $1.4B | +19.6% | +13.2% | 9.7% |
TOI Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $502.7M | +27.8% | $76.4M | 15.2% | $-36,083,000 | -7.2% |
| 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% |
What if you invested $1,000 in TOI back in 2019?
Total return with dividends reinvested · 7+ years of data
Calculate ReturnsHow much would $100/month in TOI be worth today?
Dollar cost averaging vs lump sum · see how regular investing compounds over time
Run the NumbersIs TOI Undervalued Right Now?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationTOI vs LLY — which is the better buy?
Side-by-side revenue, margins, P/E and 10-year returns vs Eli Lilly and Company.
Compare NowTOI — Frequently Asked Questions
Quick answers to the most common questions about buying TOI stock.
Is TOI's revenue growth accelerating or slowing?
TOI revenue growth is accelerating. TTM revenue reached $546M, up +41.2% year-over-year — ahead of the 5-year CAGR of +21.8%. This indicates the business is expanding faster than its historical baseline.
What is TOI's revenue history from 2019 to 2026?
The Oncology Institute, Inc. (TOI) revenue history spans 2019 to 2026. TTM revenue as of 2026 is $546M, growing at +41.2% YoY. The 5-year CAGR is +21.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is TOI's long-term revenue growth rate (CAGR)?
The Oncology Institute, Inc.'s 5-year revenue CAGR of +21.8% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +41.2% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for TOI.
Why does TOI's quarterly revenue fluctuate?
TOI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. The Oncology Institute, Inc.'s revenue data from 2019 to 2026 shows full historical quarterly detail on this page.
How is TOI's revenue distributed by segment?
TOI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does TOI's revenue compare to industry peers?
The Oncology Institute, Inc. (TOI) with TTM revenue of $546M and +41.2% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.