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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash (includes restricted cash of $0 and $875 as of June 30, 2022 and December 31, 2021) $ 64,208 $ 115,174
Accounts receivable 28,947 20,007
Other receivables 422 1,237
Inventories, net 8,580 6,438
Prepaid expenses 10,048 11,200
Total current assets 112,205 154,056
Property and equipment, net 6,014 4,192
Operating right of use assets 17,255 0
Intangible assets, net 19,383 18,245
Goodwill 34,476 26,626
Other assets 407 320
Total assets 189,740 203,439
Current liabilities:    
Current portion of operating lease liabilities 4,486 0
Current portion of long-term debt 0 183
Accounts payable 13,900 15,559
Income taxes payable 132 132
Accrued expenses and other current liabilities 17,610 13,924
Total current liabilities 36,128 29,798
Operating lease liabilities 14,614 0
Derivative warrant liabilities 1,589 2,193
Derivative earnout liabilities 9,778 60,018
Other non-current liabilities 3,146 6,900
Deferred income taxes liability 502 371
Total liabilities 65,757 99,280
Commitments and contingencies (Note 15) 0 0
Stockholders’ equity:    
TOI Common shares, $0.0001 par value, authorized 500,000,000 shares; 71,980,872 and 73,249,042 shares issued and outstanding at June 30, 2022 and December 31, 2021 7 7
TOI Convertible Series A Common Equivalent Preferred Shares, $0.0001 par value, authorized 10,000,000 shares; 166,640 shares and 163,510 issued and outstanding at June 30, 2022 and December 31, 2021 0 0
Additional paid-in capital 173,377 167,386
Accumulated deficit (49,401) (63,234)
Total stockholders’ equity 123,983 104,159
Total liabilities, cumulative preferred shares and stockholders’ equity $ 189,740 $ 203,439