Starling Oncology (rebranded from TOI) narrows operating loss 59% on 35% revenue growth

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 13, 2025 · ~2 min read

Key Changes

• high

  Operating loss narrowed 59% YoY to $4.6M (from $11.2M) as revenue grew 143.5% to $161.3M, driven by 48% capitated revenue growth and 58% specialty pharmacy revenue expansion. Operating cash flow turned positive at $9.7M vs. $15.2M burn prior year.

  MD&A: Results of Operations verify on EDGAR →
• medium

  Company rebranded to Starling Oncology effective August 3, 2026, and now manages 2.1 million lives under value-based contracts (up from 1.9M) across 791 Florida network providers, 11 California network providers, and 65 owned practices.

  Notes: Organization & MD&A: Business Overview view on EDGAR →
• high

  Post-period, entered $75M term loan (SOFR + 5.75%, floor 8.75%, matures July 2031) to refinance convertible notes; issued 10M warrants to Deerfield at $8.567/share as part of debt extinguishment.

  Notes: Subsequent Events verify on EDGAR →