Oncology Institute, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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FY2025 · Filed Mar 12, 2026
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Consolidated Balance Sheets as of December 31, 202 and
| THE ONCOLOGY INSTITUTE, INC.CONSOLIDATED BALANCE SHEETS(US Dollars in thousands, except share data) | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $33,565 | $49,669 |
| Accounts receivable, net | 58,998 | 48,335 |
| Other receivables | 322 | 346 |
| Inventories | 16,875 | 10,039 |
| Prepaid expenses and other current assets | 2,987 | 4,029 |
| Total current assets | 112,747 | 112,418 |
| Property and equipment, net | 10,684 | 11,888 |
| Operating right of use assets | 22,374 | 25,782 |
| Intangible assets, net | 11,015 | 14,810 |
| Goodwill | 7,230 | 7,230 |
| Other assets | 606 | 589 |
| Total assets | $164,656 | $172,717 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $43,167 | $24,324 |
| Current portion of operating lease liabilities | 7,156 | 6,798 |
| Accrued expenses and other current liabilities | 20,639 | 21,093 |
| Total current liabilities | 70,962 | 52,215 |
| Operating lease liabilities | 19,131 | 23,223 |
| Derivative warrant liabilities | 264 | 17 |
| Conversion option derivative liabilities | 12,591 | 385 |
| Long-term debt, net of unamortized debt issuance costs | 77,400 | 93,131 |
| Other non-current liabilities | 28 | 125 |
| Deferred income taxes liability | — | 32 |
| Total liabilities | 180,376 | 169,128 |
| Commitments and contingencies (Note 15) | — | — |
| Stockholders’ equity (deficit): | ||
| Common Stock, 0.0001 par value, authorized 500,000,000 shares; 100,596,918 shares issued and 98,863,144 shares outstanding at December 31, 2025 and 77,470,886 shares issued and 75,737,112 shares outstanding at December 31, 2024 | 10 | 8 |
| Series A Convertible Preferred Stock, 0.0001 par value, authorized 10,000,000 shares; 193,507 and 165,045 shares issued and outstanding at December 31, 2025 and 2024, respectively | — | — |
| Additional paid-in capital | 256,708 | 215,413 |
| Treasury Stock at cost, 1,733,774 shares at December 31, 2025 and 2024 | (1,019) | (1,019) |
| Accumulated deficit | (271,419) | (210,813) |
| Total stockholders’ equity (deficit) | (15,720) | 3,589 |
| Total liabilities and stockholders’ equity (deficit) | $164,656 | $172,717 |
Note: The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). The consolidated balance sheets include total assets that can be used only to settle obligations of the Company’s consolidated VIEs totaling $88,806 and $70,804 as of December 31, 2025 and 2024, respectively, and total liabilities of the Company’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaling $55,410 and $35,424 as of December 31, 2025 and 2024, respectively. See Note 16 for further details.
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