HIGHBuilt-inGeographic
California
“10-K Item 1A: 'the vast majority of the TOI PC members under capitation agreements were residents of California'”
STLN · Concentration risk · 10-K extracted
Starling Oncology (STLN) concentration risks
Updated
The most significant concentration Starling Oncology discloses is California, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Starling Oncology’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 5 disclosed concentrations
HIGH1
MEDIUM3
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inProduct / Revenue mix
46%
value-based contracts
“10-K Item 1: 'we generated more than 46% of our revenue from patients who are covered by value-based contracts'”
MEDIUMOutside partyCustomer
limited number of health insurance, IPA, and medical group payors
“10-K Item 1A: 'A significant portion of our consolidated Patient Services revenue is derived from a limited number of health insurance, Independent Practice Associations, or IPAs and medical group companies.'”
MEDIUMOutside partyCustomer
pharmacy benefit management companies
“10-K Item 1A: 'A significant portion of sales are from prescription drug sales reimbursed by a number of pharmacy benefit management companies with which TOI PCs contract.'”
LOWBuilt-inProduct / Revenue mix
16%
capitation contracts
“10-K Item 1A: 'Approximately 16% of our revenue for 2025 was derived from fixed fees paid by payors under capitation agreements with the TOI PCs.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-30Starling Oncology's concentration risk spans geography, payor mix, and revenue structure, with sizes disclosed unevenly. The vast majority of TOI PC members under capitation agreements were residents of California, a high-share concentration tying the business closely to one state's reimbursement and regulatory environment. On the payor side, more than 46% of revenue comes from patients covered by value-based contracts, a medium-share structural feature of how the company is paid. That is layered with a medium-share dependency on a limited number of health insurance, IPA, and medical group payors, and a separate medium-share dependency on pharmacy benefit management companies for reimbursed prescription drug sales. Within the value-based mix, capitation contracts specifically account for approximately 16% of 2025 revenue, a low-share slice of the overall business. The picture overall is a business built around one concentrated state and a payor structure leaning on a handful of counterparty types, with the fixed-fee capitation piece the smallest, most contained layer. The California concentration is the exposure most likely to move the verdict, since it is the only one disclosed at a high-share level.
For the engine’s reasoning on STLN’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Care Facilities
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| STLN● | Starling Oncology, Inc. | 1 | 3 | 1 | 5 |
| ACHC | Acadia Healthcare Company, Inc. | 1 | 1 | 0 | 2 |
| ADUS | Addus HomeCare Corporation | 0 | 2 | 4 | 6 |
| ARDT | Ardent Health, Inc. | 0 | 2 | 0 | 2 |
| AMN | AMN Healthcare Services Inc | 0 | 0 | 1 | 1 |
| AGL | agilon health, inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.