Call Start 17:00 January 1, 0000 5:23 PM ET
The Oncology Institute, Inc. (NASDAQ:TOI)
Q4 2023 Earnings Conference Call
March 27, 2024 05:00 PM ET
Company Participants
Mark Hueppelsheuser - General Counsel
Dan Virnich - Chief Executive Officer
Mihir Shah - Chief Financial Officer
Conference Call Participants
Jack Slevin - Jefferies
Operator
Good afternoon, and welcome to The Oncology Institute's Fourth Quarter 2023 and Full Year 2023 Earnings Conference Call. Today's call is being recorded, and we have allocated one hour for prepared remarks and Q&A.
At this time, I'd like to turn the conference over to Mark Hueppelsheuser, General Counsel at TOI. Thank you. You may begin.
Mark Hueppelsheuser
The press release announcing The Oncology Institute's results for the fourth quarter and full year 2023 are available at the Investors section of the company's website, the oncologyinstitute.com. A replay of this call will also be available at the company's website after the conclusion of this call.
Before we get started, I would like to remind you of the company's safe harbor language included in the company's press release for the fourth quarter and full year 2023. Management may make forward-looking statements, including guidance and underlying assumptions. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, see our filings with the SEC.
This call will also discuss non-GAAP financial measures, such as adjusted EBITDA. Reconciliation of these non-GAAP measures to the most comparable GAAP measures are included in the earnings release furnished to the SEC and available on our website.
Joining me on the call today is our CEO, Dan Virnich and our CFO, Mihir Shah. Following our prepared remarks, we'll open the call for your questions.
With that, I'll turn the call over to Dan.
Dan Virnich
Thank you, Mark. Good afternoon, everyone, and thank you for joining our fourth quarter full year call. To start, I'm pleased with our performance during 2023 including several important milestones which will set us up to drive value to our shareholders in 2024 and beyond. As always, none of this would be possible without the contributions of our many physicians, clinical staff and teammates who deliver outstanding care to the patients that we serve each day we serve each day. Our strong performance led to year-over-year revenue growth of 20% in Q4 2023 versus Q4 2022 and 28% for the full year 2023. We exceeded the high end of our annual revenue guidance range by over $4 Million with both patient services and dispensary segments contributing to our outperformance.