Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income (Loss) Per Share to Common Stockholders

The following table sets forth the computation of the Company's basic net income (loss) per share to common stockholders for the three and nine months ended September 30, 2022 and 2021.

(in thousands, except share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net income (loss) attributable to TOI	$	(2,674)	$	(2,980)	$	11,159	$	(771)
Less: Deemed dividend	—		—		64		—
Net income (loss) attributable to TOI available for distribution	(2,674)		(2,980)		11,095		(771)
Net income (loss) attributable to participating securities, basic	(499)		—		2,290		—
Net income (loss) attributable to common stockholders, basic	$	(2,175)	$	(2,980)	$	8,805	$	(771)
Weighted average common shares outstanding, basic	72,184,366		66,021,828		72,807,277		64,977,298
Net income (loss) per share attributable to common stockholders, basic	$	(0.03)	$	(0.05)	$	0.12	$	(0.01)

The following table sets forth the computation of the Company's diluted net loss per share to common stockholders for the three and nine months ended September 30, 2022 and 2021.

(in thousands, except share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net income (loss) attributable to TOI	$	(2,674)	$	(2,980)	$	11,159	$	(771)
Less: Deemed dividend	—		—		64		—
Less: Change in fair value of convertible option derivative liabilities(1)	13,970		—		13,970		—
Net income (loss) attributable to TOI available for distribution	(16,644)		(2,980)		(2,875)		(771)
Less: Net income attributable to participating securities, diluted	(2,867)		—		(515)		—
Net income (loss) attributable to common stockholders, diluted	$	(13,777)	$	(2,980)	$	(2,360)	$	(771)
Weighted average common shares outstanding, basic	72,184,366		66,021,828		72,807,277		64,977,298
Dilutive effect of convertible note	7,396,938		—		2,492,741		—
Weighted average shares outstanding, diluted	79,581,304		66,021,828		75,300,018		64,977,298
Net income (loss) per share attributable to common stockholders, diluted	$	(0.17)	$	(0.05)	$	(0.03)	$	(0.01)

(1) Inclusive of interest expense and amortization of debt issuance cost and debt discount related to the Senior Secured Convertible Note.

Schedule of Computation of Diluted Net Loss Per Share

The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options	7,188,865	9,156,138	7,188,865	9,156,138
RSUs	2,170,047	1,367,463	2,170,047	1,367,463
Earnout Shares	1,437,138	—	1,437,138	—
Public Warrants	5,749,986	—	5,749,986	—
Private Warrants	3,177,542	—	3,177,542	—