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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash (includes restricted cash of $875 and $875 as of March 31, 2022 and December 31, 2021) $ 95,534 $ 115,174
Accounts receivable 24,513 20,007
Other receivables 1,279 1,237
Inventories, net 7,770 6,438
Prepaid expenses 10,744 11,200
Total current assets 139,840 154,056
Property and equipment, net 4,909 4,192
Operating right of use assets 17,233 0
Intangible assets, net 17,572 18,245
Goodwill 26,626 26,626
Other assets 332 320
Total assets 206,512 203,439
Current liabilities:    
Current portion of operating lease liabilities 4,277 0
Current portion of long-term debt 0 183
Accounts payable 12,596 15,559
Income taxes payable 132 132
Accrued expenses and other current liabilities 14,516 13,924
Total current liabilities 31,521 29,798
Operating lease liabilities 14,409 0
Derivative warrant liabilities 3,654 2,193
Derivative earnout liabilities 20,578 60,018
Other non-current liabilities 3,801 6,900
Deferred income taxes liability 551 371
Total liabilities 74,514 99,280
Commitments and contingencies 0 0
Stockholders’ equity:    
TOI Common shares, $0.0001 par value, Authorized 500,000,000 shares; 73,276,230 and 73,249,042 shares issued and outstanding at March 31, 2022 and December 31, 2021 7 7
TOI Convertible Series A Common Equivalent Preferred Shares, $0.0001 par value. Authorized 10,000,000 shares; 163,510 shares issued and outstanding at March 31, 2022 and December 31, 2021 0 0
Additional paid-in capital 175,939 167,386
Accumulated deficit (43,948) (63,234)
Total stockholders’ equity 131,998 104,159
Total liabilities, cumulative preferred shares and stockholders’ equity $ 206,512 $ 203,439