0001140361-23-048206 | S-1 | XBRL Viewer | American Oncology Network INC

122,168

^[1]

106,495

^[1],[2]

92,908

^[2]

Inventory Purchases/Concentration Risk [Abstract]

Inventory Purchases/Concentration Risk [Abstract]

$ 117,831

$ 102,100

$ 102,113

$ 88,799

Inventory Purchases/Concentration Risk [Abstract]

89.00%

86.00%

88.00%

83.00%

88.00%

96.00%

[1]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively

Business Combinations (Q2) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022	Jun. 30, 2023	Dec. 31, 2021
Asset Acquisitions [Abstract]
Liabilities recorded amount related to unwind agreements		$ 0	$ 0	$ 0
Northern Arizona Hematology and Oncology [Member] \| Maximum [Member]
Asset Acquisitions [Abstract]
Aggregate purchase price	$ 100	$ 100

Equity (Q2)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Equity

11. Equity

Mezzanine Equity - New Class C Units

The membership interests of the Company is divided into units. The holders of Class A Units, the holders of Class A-1 Units and the holders of Class C Units are entitled to vote on any matters in which the members are entitled to vote. Class B Units are non-voting. The Class C Units (“Preferred Units”) are contingently Redeemable Convertible Preferred Units and classified as mezzanine equity because the units are redeemable five years from the issuance date, at the option of the holder. As of June 30, 2023, the Preferred Units are recorded at their initial carrying value, net of offering costs. The Class C Units are not being accreted to redemption value, as the redemption is not probable.

Dividends

The Preferred Units accrue dividends (“Class C Units Preferred Return”) at a cumulative, semiannually-compounded return of 8% per annum based on the original Net Invested Capital Contributions of $65.0 million. The accrual shall be calculated on June 30 and December 30 and with respect to the semiannually-compounded return, no interest is required to be paid on any present or future Class C Units Preferred Returns. The Class C Units also participate in distributions with the Class A, Class A-1, and Class B Units.

Voting and Redemption Rights

The holders of the Preferred Units are entitled to elect and appoint one of the managers (“Class C Manager”) to the Board of Managers. All other managers are appointed by the Class A members. There are no restrictions on which matters the Preferred Units are entitled to vote.

After the fifth anniversary of the Effective Date (June 7, 2028), the holders of a majority of the Class C Units shall have the right to cause the Company to redeem all of the Class C Units. The Company shall redeem all of the Class C Units for a redemption price per Class C Unit equal to the greater of (i) the Class C Liquidation Preference and (ii) the Fair Market Value of a Class C Unit (the “Class C Redemption Price”). The Class C Liquidation Preference is defined as an amount equal to the sum of (a) the Class C Preferred Return of such Class C Member and (b) the amount of such Class C Member’s Net Invested Capital Contributions of $65.0 million.

Conversion Rights

Each Preferred Unit is convertible, at the option of the holder, at any time, and without the payment of additional consideration by the holder, into such number of fully-paid Class A Units as is determined by dividing the Class C Liquidation Preference by the Class C Conversion Price in effect at the time of conversion. The Conversion Rights shall terminate at the close of business on the day prior to the date of an Exit Event.

Liquidation Preferences

In the event of voluntary or involuntary liquidation, dissolution or winding up of the Company or an Initial Public Offering (IPO) or Exit Event, the Preferred Units have preferential liquidation rights. The amount of distributable assets would be distributed as follows:

(i)	First, to the holders of Preferred Units until the aggregate amount distributed to each Class C member is sufficient to provide for the greater of:

•	the full payment of the Class C Preferred Return of such Class C Member accrued to date and the full payment of the Class C Applicable Percentage multiplied by the Net Invested Capital Contribution of such Class C Member; or

•	the amount distributable upon conversion of such Class C Units into Class A Units.

(ii)	Second, to the holders of the Class A-1 Units, Class A Units and the Class B Units on a pro rata basis determined by reference to their respective Percentage Interests.

The Class C Applicable Percentage is defined as a percentage equal to (a) one hundred twenty-five percent (125%) if an Exit Event, dissolution, liquidation, or winding-up occurs prior to June 7, 2024, (b) one hundred twenty percent (120%) if an Exit Event, dissolution, liquidation, or winding up occurs after June 7, 2024, but prior to June 7, 2025, (c) one hundred fifteen percent (115%) if an Exit Event, dissolution, liquidation, or winding-up occurs after June 7, 2025, but prior to June 7, 2026, (d) one hundred ten percent (110%) if an Exit Event, dissolution, liquidation, or winding up occurs after June 7, 2026, but prior to June 7, 2027, (e) one hundred five percent (105%) if an Exit Event, dissolution, liquidation, or winding-up occurs after June 7, 2027, but prior to June 7, 2028, (f) one hundred percent (100%) if an Exit Event, dissolution, liquidation, or winding-up occurs after June 7, 2029.

Option to Purchase Additional Shares

In accordance with the terms of the Amended and Restated Class C Convertible Preferred Unit Purchase Agreement dated June 7, 2023, GEF AON Holdings Corp. has an option to purchase an additional 378 AON Class C Units until the closing of the Business Combination at a purchase price of $26,423 per Unit (“Option Feature”). The Company has determined that this Option Feature is required to be accounted for as a derivative in accordance with ASC 815. The Option Feature has been recorded at its fair value at June 30, 2023 and is included in accrued other in the condensed consolidated balance sheets. On June 7, 2023, the fair value of the Option Feature was recorded as an offset to the Class C Units in mezzanine equity, in the amount of $1.4 million. The Option Feature will be remeasured at each reporting period with any adjustments being charged to earnings.

The fair value of the Option Feature was determined using Level 3 inputs. The fair value was estimated at June 30, 2023 using the Black-Scholes Option Pricing model using the following assumptions:

Expected annual dividend yield			0.0%
Expected volatility			65.0%
Risk-free rate of return			5.4%
Expected option term (years)			0.25

Distributions to Class A and Class A-1 Members

On March 4, 2020, the Company entered into the Second Amended and Restated Limited Liability Agreement (“Second Operating Agreement”) which established another class of equity, Class A-1 Units. The Second Operating Agreement provided, among other things, that the Class A and A-1 Units would receive a cumulative, annually-compounded, preferred return of 8.0% and 4.0%, respectively, on capital contributions when and if distributions are declared by the Board of the Company.

Prior to the issuance of the Class C Units on June 7, 2023 as discussed above, the Class A and A-1 unitholders were paid a cash distribution of $4.0 million and $4.1 million, respectively, representing the cumulative accrued preferred return to June 7, 2023.

On June 7, 2023, in connection with the issuance of the Class C Units, the Company entered into the Third Amended and Restated Limited Liability Agreement (“Third Operating Agreement”) which, among other things, eliminated any provisions for future preferred returns on Class A and A-1 Units.

Class A-1 Anti-Dilution Feature

In the event the Company, prior to a Qualified IPO, issues additional membership equity (“Additional Issuance”) at a valuation that represents a purchase price that is less than the New Unit Purchase Price, as defined, the Company is obligated to issue additional Class A-1 units, for no consideration, such that the Class A-1 unitholder maintains the same percentage ownership as prior to the Additional Issuance (“Anti-Dilution Feature”).

The Company has determined that the Anti-Dilution Feature meets the definition of a derivative in accordance with ASC 815. The total loss on derivatives for six months ended June 30, 2023 relating to this feature is $5.1 million and was recorded in other (expense) income, net in the condensed consolidated statements of operations and comprehensive loss. The Anti-Dilution Feature will be remeasured at each reporting period with any adjustments being charged to earnings. The Anti-Dilution Feature has been recorded at its fair value of $2.6 million at June 30, 2023 and is included in accrued other in the condensed consolidated balance sheets. The fair value of the Anti-Dilution Feature was immaterial in prior periods.

As a result of the Anti-Dilution Feature, upon the issuance of the Class C Units on June 7, 2023, the Company issued an additional 174 Class A-1 Units with a fair value of $2.5 million. This additional Class A-1 issuance was recorded in Class A-1 Members’ Equity and a corresponding portion of the derivative liability was settled.

The fair value of the Anti-Dilution Feature was determined using Level 3 inputs. The fair value was estimated at June 30, 2023 using the “with and without” valuation approach comparing cash flows under scenarios assuming the embedded feature was and wasn’t in place. The most significant driver of value is the as-converted value of the Units in the business combination which utilizes the Company’s implied equity value and probability of the Business Combination closing.

Class B-1 Grants

In June 2023, the Company granted 351 Class B-1 Units to certain employees under the 2017 Profits Interest Plan (the “Plan”). The Class B-1 Units have an estimated grant date fair value of $4.4 million based on the Company’s implied equity value as well as the probability of the Business Combination closing. The Class B-1 Units are a series of the Class B Units and have the same rights, privileges, and restrictions as specified in the Plan. The Class B-1 Units only vest upon both continued employment and the consummation of the Business Combination, therefore, no expense has been recognized in the period ended June 30, 2023. Upon the consummation of the Business Combination, the Class B-1 Units will be exchanged for a number of newly issued shares of New AON Class A Common Stock equal to the Per Company Unit Exchange Ratio, as defined in the Business Combination Agreement.

The entire disclosure for equity.

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Business (FY) (Tables)

12 Months Ended

Dec. 31, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships

The Company intends to continue to pursue additional purchases of physician practices in addition to seeking out new affiliation relationships.

State

Effective

Date

State

Effective

Date

State

Effective

Date

Location 12

North

Carolina

4/1/2020

Location 18

Maryland

3/1/2021

Location 23

Arizona

1/1/2022

Location 13

Maryland

5/1/2020

Location 19

Arizona

4/1/2021

Location 24

Georgia^(a)

1/1/2022

Location 14

Virginia

5/1/2020

Location 20

Washington

5/1/2021

Location 25

Louisiana^(a)

1/17/2022

Location 15

Michigan

7/1/2020

Location 21

Georgia^(a)

8/1/2021

Location 26

Georgia^(a)

4/5/2022

Location 16

Washington

8/1/2020

Location 22

Arizona

11/1/2021

Location 27

Georgia^(a)

5/1/2022

Location 17

Georgia and

South

Carolina

9/1/2020

Location 28

Georgia^(a)

9/20/2022

(a)	The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

Income Taxes (FY) (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Income Tax Expense (Benefit)

The income tax expense (benefit) in 2022, 2021, and 2020 consisted of the following:

	Year Ended December 31,
	2022	2021	2020
Current
Federal	$—	$(306)	$152
State	—	(20)	123
	—	(326)	275
Deferred
Federal	—	433	(922)
State	—	353	(136)
	—	786	(1,058)
Total income tax expense (benefit)	$—	$460	$(783)

Reconciliation of Statutory to Effective Income Tax Rate

The differences between the federal tax rate and the Company’s effective tax rate for the years ended December 31, 2022, 2021, and 2020 are as follows:

	Year Ended December 31,
	2022	2021	2020
Federal statutory income tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	(11.94)	(97.95)	(0.80)
State rate change	(2.15)	(3.41)	0.07
Other	(3.71)	3.00	0.07
Nontaxable passthrough LLC income	(87.14)	(658.26)	(27.31)
Increase in valuation allowance	83.94	864.95	3.26
Effective tax rate	—%	129.33%	(3.71)%

Deferred Tax Assets and Liabilities

Components of the net deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows:

	As of December 31,
	2022	2021
Deferred tax assets
Net operating loss carryforwards	$6,589	$5,166
Accrued expenses	165	426
Deferred tax assets	6,754	5,592
Valuation allowance	(5,835)	(3,662)
Net deferred tax asset	919	1,930
Deferred tax liabilities
Prepaid expenses	—	64
Accounting method change	918	1,866
Fixed assets	1	—
Deferred tax liabilities	919	1,930
Net deferred tax asset	$—	$—

Related Parties, Inventory Purchases/Concentration Risk (FY) (Details) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Inventory Purchases/Concentration Risk [Abstract]

Purchase of inventories

$ 506,000

$ 443,000

$ 924,000

$ 731,000

$ 574,000

122,168

^[1]

106,495

^[1],[2]

92,908

^[2]

Inventory Purchases/Concentration Risk [Abstract]

Inventory Purchases/Concentration Risk [Abstract]

$ 117,831

$ 102,100

$ 102,113

$ 88,799

Inventory Purchases/Concentration Risk [Abstract]

89.00%

86.00%

88.00%

83.00%

88.00%

96.00%

[1]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively

Accrued Other (FY)

12 Months Ended

Dec. 31, 2022

Accrued Other [Abstract]

Accrued Other

9. Accrued Other

Accrued other consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Refund liability	$14,544	$8,306
Deferred social security taxes – COVID	378	378
Current portion of finance lease liability	425	—
Other	2,453	5,108
Total accrued other	$17,800	$13,792

Supplemental Condensed Balance Sheet Information, Other Receivables (Q2) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Receivables [Abstract]
Rebates receivable	$ 32,771	$ 27,955	$ 24,950
Other	158	246	128
Total other receivables	$ 32,929	$ 28,201	$ 25,078

Related Parties, Leases (Q2) (Details) $ in Thousands	6 Months Ended		12 Months Ended
Related Parties, Leases (Q2) (Details) $ in Thousands	Jun. 30, 2023 USD ($) OfficeFacility	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Leases [Abstract]
Cash paid for leases to related parties	$ 4,984	$ 4,826	$ 12,590
Related Party [Member]
Leases [Abstract]
Number of operating lease office facilities \| OfficeFacility	10
Cash paid for leases to related parties	$ 1,300	$ 1,300	$ 2,500	$ 2,300	$ 6,800

Basis of Presentation and Significant Accounting Policies, Offering Costs (Q2) (Details) - USD ($) $ in Thousands		6 Months Ended		12 Months Ended
	Jun. 07, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Offering Costs [Abstract]
Deferred offering costs		$ 1,100		$ 300
Gross proceeds from issuance of redeemable convertible preferred stock		64,996	$ 0
Net of offering costs		$ 750	$ 0	$ 206	$ 0	$ 0
Class C Units [Member]
Offering Costs [Abstract]
Net proceeds from issuance of redeemable convertible preferred stock	$ 64,500
Gross proceeds from issuance of redeemable convertible preferred stock	65,000
Net of offering costs	500
Additional offering cost	300
Offering costs, total	$ 800

Members' Equity (FY) (Details) $ in Thousands				1 Months Ended	6 Months Ended	12 Months Ended
Members' Equity (FY) (Details) $ in Thousands	Jun. 07, 2023 USD ($)	Mar. 04, 2020	Oct. 31, 2017 Vote	Mar. 31, 2020 USD ($) Vote shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) Vote shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)
Members' Equity [Abstract]
Capital contribution \| $						$ 0	$ 0	$ 28,500
Number of new issued shares value \| $					$ 0			28,500
Class A Units [Member]
Members' Equity [Abstract]
Number of votes per unit \| Vote						1
Minimum percentage interest						70.00%
Units outstanding (in shares) \| shares						7,725	7,725
Capital contribution \| $						$ 7,700	$ 7,700
Percentage of preferred return on capital contributions		8.00%		8.00%
Number of new units assigned based on their percentage interest relative to the Class A Members (in shares) \| shares				101
Class A-1 Units [Member]
Members' Equity [Abstract]
Number of votes per unit \| Vote				1
Capital contribution \| $				$ 30,000
Common units issued (in shares) \| shares				730
Percentage of preferred return on capital contributions		4.00%		4.00%
Brokerage fee \| $				$ 1,500
Number of new issued shares value \| $	$ 2,500			$ 28,500
Class B Units [Member]
Members' Equity [Abstract]
Number of votes per unit \| Vote			0
Units outstanding (in shares) \| shares						2,322
Common units issued (in shares) \| shares						0
Cliff vesting period						5 years
Percentage of collar removed				30.00%
Equity-based compensation expense \| $							$ 20	$ 20
Common units, vested (in shares) \| shares						0	1,918
Common units, forfeited (in shares) \| shares						0
Class B Units [Member] \| Maximum [Member]
Members' Equity [Abstract]
Awards vesting period						5 years
Class B Units [Member] \| Minimum [Member]
Members' Equity [Abstract]
Awards vesting period						2 years

Related Parties (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Transactions Notes Receivable

The notes bear interest at the Company’s incremental borrowing rate (6.65% at June 30, 2023 and 1.57% at December 31, 2022, respectively).

	As of June 30, 2023	As of December 31, 2022	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,027	$1,057	$5,355	5/1/2019	4/30/2024
Note 3	67	119	491	6/1/2019	5/31/2024
Note 6	—	351	1,111	5/22/2020	5/22/2023
Note 8	2,150	2,221	2,816	5/1/2020	5/1/2025
Note 9	—	125	125	1/24/2022	6/30/2023
Total notes receivables	3,244	3,873

As of June 30,

2023

As of December 31,

2022

Original

Principal

Issue

Date

Maturity

Date

Less: Current portion of notes receivable

$(1,492)

(1,797)

Notes receivable, less current portion

$1,752

$2,076

The notes bear interest at the Company’s incremental borrowing rate (1.57% at December 31, 2022 and 1.55% at December 31, 2021).

	As of December 31,		Original Principal	Issue Date	Maturity Date
	2022	2021	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,057	$1,294	$5,355	5/1/2019	4/30/2024
Note 3	119	217	491	6/1/2019	5/31/2024
Note 4	—	259	917	8/1/2019	7/31/2024
Note 6	351	680	1,111	5/22/2020	5/22/2023
Note 8	2,221	2,513	2,816	5/1/2020	5/1/2025
Note 9	125	—	125	1/24/2022	6/30/2023
Total notes receivables	3,873	4,963
Less: Current portion of notes receivable	(1,797)	(1,812)
Notes receivable, less current portion	$2,076	$3,151

Property and Equipment, Net (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Property and Equipment, Net [Abstract]

Property and Equipment, Net

Property and equipment, net consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Leasehold improvements	$29,794	$26,076
Furniture, fixtures and equipment	2,700	2,669
Medical equipment	12,443	11,003
Computer equipment	3,271	3,115
Signs	147	129
Automobiles	59	69
Software	4,331	4,834
Construction-in-progress	4,173	1,433
	56,918	49,328
Accumulated depreciation and amortization	(21,246)	(17,348)
Property and equipment, net	$35,672	$31,980

Property and equipment, net, consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Leasehold improvements	$26,076	$23,744
Furniture, fixtures and equipment	2,669	2,346
Medical equipment	11,003	8,811
Computer equipment	3,115	2,713
Signs	129	117
Automobiles	69	69
Software	4,834	4,036
Construction-in-progress	1,433	1,445
	49,328	43,281
Accumulated depreciation and amortization	(17,348)	(10,633)
Property and equipment, net	$31,980	$32,648

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (FY) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs and expenses
Rent expense	$ 5,630	$ 6,136	$ 12,465
Related Party [Member]
Costs and expenses
Inventory expense	500,569	446,594	922,148	$ 718,675	$ 567,782
Rent expense	$ 1,358	$ 1,358	$ 2,643	$ 2,319	$ 6,845

Summary of Significant Accounting Policies and Basis of Presentation (FY) (Policies)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Summary of Significant Accounting Policies and Basis of Presentation [Abstract]

Accounting Estimates and Assumptions

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions are involved in the calculation of the Company’s allowance for contractual adjustments and allowances for uncollectible on accounts receivable, liabilities for provider compensation, and accrued insurance claim reserves. Actual results could differ from those estimates.

Segments

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (the “CODM”). The Company’s CODM is its chief executive officer who reviews financial information together with certain operating metrics principally to make decisions about how to allocate resources and to measure the Company’s performance. The Company has one operating segment and one reportable segment that are structured around the organizational management of oncology practice operations. All revenue and assets are in the United States.

Segments

Revenue Recognition

Revenue is recognized under Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”). The Company determines the transaction price based upon standard charges for goods and services with anticipated consideration due from patients, third-party payors (including health insurers and government agencies) and others. The Company’s revenue is primarily derived from patient service revenues, which encompass oncology services provided during patient visits and shipments of pharmacy prescriptions. Performance obligations for the Company’s services provided to patients and most procedures, are satisfied over the time of visit which is the same day services are performed. Performance obligations relating to pharmacy revenue are considered fully satisfied at a point in time upon the customer receiving delivery of the prescription. Accordingly, the Company does not anticipate a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and any such revenue recognized during the six months ended June 30, 2023 and 2022 was immaterial. Additionally, the Company does not expect to recognize material revenue in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 30, 2023 and December 31, 2022. Approximately $439.2 million and $392.8 million of the Company’s revenues are generated from services performed during patient visits with the remainder primarily generated from shipments of pharmacy prescriptions for the six months ended June 30, 2023 and 2022, respectively.

As services are performed and prescriptions are shipped, timely billing occurs for services rendered and prescriptions shipped less discounts provided to uninsured patients and contractual adjustments to third-party payors based upon prospectively determined rates and discounted charges. Payment is requested at the time of service for self-paying patients and for patients covered by third-party payors that are responsible for paying deductibles and coinsurance.

The Company monitors revenue and receivables to prepare estimated contractual allowances for the anticipated differences between billed and reimbursed amounts. Payments from third-party payors and Government programs including Medicare and Medicaid may be subject to audit and other retrospective adjustments. Such amounts are considered on an estimated basis when net patient revenue is recorded and are adjusted as final adjustments are determined. For the six months ended June 30, 2023 and 2022, such resulting historic adjustments have been immaterial to the condensed consolidated financial statements.

In assessing who is the principal in providing patient services and pharmacy prescriptions, the Company considered who controls the provision of services and prescriptions. The Company has determined they are acting as a principal in these relationships.

In April 2022, the Company entered into a long-term arrangement to sponsor and manage a clinical trial. The Company subsequently contracted with a third-party to provide the clinical research services and is the principal in this arrangement. The performance of clinical research services are considered a single performance obligation because the Company provides a highly-integrated service. Revenue is recognized for the single performance obligation over time due to the Company’s right to payment for work performed to date. The contract provides for invoices based on predetermined milestones.

The Company uses the cost-to-cost measure of progress for the Company’s contract because it best depicts the transfer of control to the customer as the performance obligation is fulfilled. For this method, the Company compares the contract costs incurred to date to the estimated total contract costs through completion. As part of the client proposal and contract negotiation process, the Company develops a detailed project budget for the direct costs and reimbursable costs based on the scope of the work, the complexity of the study, the geographical location involved and the Company’s historical experience. The estimated total contract costs at the project level are reviewed and revised periodically throughout the life of the contract, with adjustments to revenue resulting from such revisions being recorded on a cumulative basis in the period in which the revisions are identified. Contract costs consist primarily of direct labor and other reimbursable project-related costs such as travel, third-party vendor costs and investigator fees. The Company establishes pricing based on the Company’s internal pricing guidelines, discount agreements, if any, and negotiations with the client. The transaction price is the contractually defined amount. Revenue related to the clinical trial, which is included within other revenue, was $1.5 million and $2.1 million for the six months ended June 30, 2023 and 2022, respectively.

The Company has a system and estimation process for recording Medicare net patient service revenue and estimated recoupments as it relates to value-based care (“VBC”) revenue included in patient service revenue in the condensed consolidated statements of operations and comprehensive income. The Company’s VBC revenue is primarily generated through its participation in the CMS Oncology Care Model (“OCM”) which is an episode-based payment model to promote high-quality cancer care. Participants enter six-month episode periods, and the Company bills a monthly fee during the six-month period based on a fixed rate per participant per month and the total number of participants. Certain quality and compliance metrics are tracked as part of the program and submitted to CMS at the end of the episode period which may result in recoupment of funds. The Company estimates the recoupment amount by developing a recoupment percentage for each period based on historical known recoupment from CMS and applies the recoupment percentage against total fees for the period. Based on the estimate, the Company accrues a liability representing the expected final recoupments based on historical settlement trends.

Revenue Recognition

Revenue is recognized under Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”). The Company determines the transaction price based upon standard charges for goods and services with anticipated consideration due from patients, third-party payors (including health insurers and government agencies) and others. The Company’s revenue is primarily derived from patient service revenues, which encompass oncology services provided during patient visits and shipments of pharmacy prescriptions. Performance obligations for the Company’s services provided to patients and most procedures, are satisfied over the time of visit which is the same day services are performed. Performance obligations relating to pharmacy revenue are considered fully satisfied at a point in time upon the customer receiving delivery of the prescription. Accordingly, the Company does not anticipate a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and any such revenue recognized during the years ended December 31, 2022, 2021, and 2020 was immaterial.

Additionally, the Company does not expect to recognize material revenue in the future related to performance obligations that are unsatisfied (or partially satisfied) as of December 31, 2022 and 2021. Approximately

$818.5 million, $683.0 million, and $542.0 million of the Company’s revenues are generated from services performed during patient visits with the remainder primarily generated from shipments of pharmacy prescriptions for the years ended December 31, 2022, 2021, and 2020, respectively.

As services are performed and prescriptions are shipped, billing occurs for services rendered and prescriptions shipped less discounts provided to uninsured patients and contractual adjustments to third-party payors based upon prospectively determined rates and discounted charges. Payment is requested at the time of service for self-paying patients and for patients covered by third-party payors that are responsible for paying deductibles and coinsurance.

The Company monitors revenue and receivables to prepare estimated contractual allowances for the anticipated differences between billed and reimbursed amounts. Payments from third-party payors and Government programs including Medicare and Medicaid may be subject to audit and other retrospective adjustments. Such amounts are considered on an estimated basis when net patient revenue is recorded and are adjusted as final adjustments are determined. For the years ended December 31, 2022, 2021, and 2020, such resulting historic adjustments have been immaterial to the consolidated financial statements.

The Company uses the cost-to-cost measure of progress for the Company’s contract because it best depicts the transfer of control to the customer as the performance obligation is fulfilled. For this method, the Company compares the contract costs incurred to date to the estimated total contract costs through completion. As part of the client proposal and contract negotiation process, the Company develops a detailed project budget for the direct costs and reimbursable costs based on the scope of the work, the complexity of the study, the geographical location involved and the Company’s historical experience. The estimated total contract costs at the project level are reviewed and revised periodically throughout the life of the contract, with adjustments to revenue resulting from such revisions being recorded on a cumulative basis in the period in which the revisions are identified. Contract costs consist primarily of direct labor and other reimbursable project-related costs such as travel, third-party vendor costs and investigator fees. The Company establishes pricing based on the Company’s internal pricing guidelines, discount agreements, if any, and negotiations with the client. The transaction price is the contractually defined amount. For the year ended December 31, 2022, the Company recognized revenue of $4.3 million related to the clinical trial which is included within other revenue.

In March 2020, the World Health Organization determined the resulting outbreak of COVID-19, the disease caused by this novel coronavirus, to be a pandemic. The pandemic is disrupting supply chains worldwide as national and local governments implement measures intended to slow the spread of COVID-19, with production and sales across a range of industries impacted in different ways.

On March 27, 2020, the United States enacted the Coronavirus Aid, Relief and Economic Security Act, or CARES Act. The CARES Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a nationwide effort to curtail the effect of COVID-19. The CARES Act provides sweeping tax changes in response to the COVID-19 pandemic, some of the more significant provisions include removal of certain limitations on utilization of net operating losses, increasing the loss carryback period for certain losses to five years, increasing the ability to deduct interest expense, and deferring social security payments, as well as amending certain provisions of the previously enacted Tax Cuts and Jobs Act.

In April 2020, the Company received approximately $24.0 million of cash from government stimulus programs designed to assist small businesses during the pandemic. Of this amount, $17.2 million in advances included on the Consolidated Balance Sheet as of December 31, 2020, were received under the Centers for Medicare & Medicaid Services (CMS) accelerated and advance payment program which is for services to be rendered and reimbursed under Medicare programs. In October 2020, as determined by the Continuing Appropriations Act, 2021 and Other

Extensions Act, the recoupment period would begin one year after the date the advance payment was received, therefore recoupment began in April 2021. At December 31, 2022 and 2021, the outstanding liability was $0 and $3.7 million, respectively. Revenue recognized in the reporting period that was included in the Medicare advance payment balance at January 1, 2022 and January 1, 2021 was $3.7 million and $13.5 million, respectively. The remaining $6.8 million of the $24.0 million received was in the form of a grant from the Department of Health and Human Services and does not require repayment. As an accounting policy election, the Company utilized ASC 958 by analogy to recognize funds received under the CARES Act from the Provider Relief Fund as revenue, given no direct authoritative guidance is available to for-profit organizations to recognize revenue for government contributions and grants.

The Company has a system and estimation process for recording Medicare net patient service revenue and estimated recoupments as it relates to value-based care (“VBC”) revenue included in patient service revenue on the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company’s VBC revenue is primarily generated through its participation in the CMS Oncology Care Model (“OCM”) which is an episode-based payment model to promote high-quality cancer care. Participants enter six-month episode periods, and the Company bills a monthly fee during the six-month period based on a fixed rate per participant per month and the total number of participants. Certain quality and compliance metrics are tracked as part of the program and submitted to CMS at the end of the episode period which may result in recoupment of funds. The Company estimates the recoupment amount by developing a recoupment percentage for each period based on historical known recoupment from CMS and applies the recoupment percentage against total fees for the period. Based on the estimate, the Company accrues a liability representing the expected final recoupments based on historical settlement trends.

Short-term Marketable Securities

Investments in marketable securities consist of corporate bonds and U.S. Treasury securities.

Management determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each balance sheet date. Marketable securities are classified as available-for-sale and are carried at fair value in the consolidated balance sheets. The marketable securities are classified as short-term based on management’s intent to convert such securities within one year and the ability to convert them within two to three days.

Certain of our available-for-sale securities are debt securities. For an available-for-sale debt security with an amortized cost that exceeds its fair value, the Company first determines if it intends to sell or will more-likely-than-not be required to sell the security before the expected recovery of its amortized cost. If it intends to sell or will more-likely-than-not be required to sell the security, then the Company recognizes the impairment as a credit loss in the condensed consolidated statements of operations and comprehensive loss by writing down the security’s amortized cost to its fair value. If it does not intend to sell or it is not more-likely-than-not that it will be required to sell the security before the expected recovery of its amortized cost, the Company recognizes the portion of the impairment that is due to a credit loss, if any, in the condensed consolidated statements of operations and comprehensive loss through an allowance. The portion of the impairment that is due to factors other than a credit loss is recognized in other comprehensive income (loss) in the condensed consolidated statements of operations and comprehensive loss as an unrealized loss.

Short-term Marketable Securities

Investments in marketable securities consist of corporate bonds and U.S. Treasury securities. Management determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each balance sheet date. Marketable securities are classified as available-for-sale and are carried at fair value in the Consolidated Balance Sheets. The marketable securities are classified as short- term based on management’s intent to convert such securities within one year and the ability to convert them within two to three days.

The Company evaluates its investments to assess whether those with unrealized loss positions were other than temporarily impaired. Impairments were considered to be other than temporary if they were related to deterioration in credit risk or if it is likely the Company will sell the securities before the recovery of their cost basis. Realized gains and losses and declines in value judged to be other than temporary were determined based on the specific identification method and reported in Interest income in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Cost of Revenue

Cost of services primarily includes chemotherapy drug costs, clinician salaries and benefits, medical supplies and clinical occupancy costs. Clinicians include oncologists, advanced practice providers such as physician assistants and nurse practitioners, and registered nurses. Specialty pharmacy costs primarily include the cost of oral medications dispensed from the specialty pharmacy including overhead costs for running a free-standing pharmacy and shipping costs to patients.

Cash and Cash Equivalents

The Company evaluates acquired practices in accordance with ASU 2017-01, Business Combinations (Topic 805)-Clarifying the Definition of a Business. This standard clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. Because substantially all of the value of each acquired practice did not relate to a similar group of assets and as each acquired practice contained both inputs and processes necessary to provide economic benefits to the Company, it was determined that each acquisition represents a business combination. Therefore, the transactions have been accounted for using the acquisition method of accounting, which requires, with limited exceptions, that assets acquired, and liabilities assumed be recognized at their estimated fair values as of the acquisition date. Any excess of the consideration transferred over the estimated fair values of the net assets acquired is recorded as goodwill. Transaction costs related to business combinations are expensed in the period in which they are incurred.

Business Combinations

The Company evaluates acquired practices in accordance with ASU 2017-01, Business Combinations (Topic 805) — Clarifying the Definition of a Business. This standard clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. Because substantially all of the value of each acquired practice did not relate to a similar group of assets and as each acquired practice contained both inputs and processes necessary to provide economic benefits to the Company, it was determined that each acquisition represents a business combination. Therefore, the transactions have been accounted for using the acquisition method of accounting, which requires, with limited exceptions, that assets acquired, and liabilities assumed be recognized at their estimated fair values as of the acquisition date. Any excess of the consideration transferred over the estimated fair values of the net assets acquired is recorded as goodwill. Transaction costs related to business combinations are expensed in the period in which they are incurred.

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents include cash or deposits with financial institutions and deposits in highly liquid money market securities. Deposits with financial institutions are insured by the Federal Deposit Insurance Corporation up to certain defined limits. Bank deposits at times may exceed federally insured limits. The Company has not experienced any losses in these accounts.

Restricted Cash

The Company maintains certain cash balances restricted as to withdrawal or use and presented separately from Cash and cash equivalents on the Consolidated Balance Sheets. Restricted cash includes amounts held as collateral related to the Company’s PNC Loan Facility (Note 10).

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same cash amounts shown in the Consolidated Statements of Cash Flows.

	As of December 31,
	2022	2021
Cash and cash equivalents	$26,926	$27,354
Restricted cash	—	5,000
Total cash, cash equivalents and restricted cash shown in the statements of cash flow	$26,926	$32,354

Accounts Receivable

Accounts receivable from patients are carried at the original charge for the services provided, and an adjustment is made to the receivable in a contra account based on the historical collection rate for the provider and payor combination. This adjustment takes into consideration any allowance for doubtful accounts. Management determines the allowance for uncollectible accounts based on historical experience. Concentrations of accounts receivable, net of allowances for contractual discounts and doubtful accounts, as of December 31, 2022 and 2021, are as follows:

	As of December 31,
	2022	2021
Medicare	25%	27%
Managed Medicare	25%	21%
Other Commercial	17%	17%
BCBS	17%	16%
Managed Medicaid	8%	12%
Other	8%	7%
	100%	100%

As of December 31, 2022, December 31, 2021, and January 1, 2021, the accounts receivable, net balances were $136.1 million, $111.2 million, and $80.4 million, respectively.

Inventories, consisting primarily of pharmaceuticals finished goods, are valued at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. Obsolescence for inventories is estimated based on expiration dates and slow-moving inventory. No obsolescence allowances have been recorded as of December 31, 2022 and 2021. If the Company determines that an item is obsolete, or the expected net realizable value upon sale is lower than the currently recorded cost, a write-down is recorded and charged to cost of revenue to reduce the inventory to its net realizable value and a new cost basis is established. The majority of the Company’s inventories are purchased from a related party (See Note 13).

Concentration of Credit Risk

Other receivables consist primarily of rebates on drug purchases made in the current period which are offered as an incentive by the distributor and/or manufacturer and are not yet paid as of year-end.

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. A summary of the lives used for computing depreciation is as follows:

Leasehold improvements			1 – 15 years
Furniture, fixtures and equipment			7 years
Medical equipment			5 – 10 years
Computer equipment			5 years
Signs			7 years
Automobiles			5 years
Software			7 years

Leasehold improvements are amortized using the straight-line method over the shorter of their estimated useful lives or the term of the related lease, which may include one or more option renewal periods. Maintenance and repairs that do not improve service potential or extend economic life are expensed as incurred. Expenditures for major improvements and additions are capitalized. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. In assessing long-lived assets for impairment, assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability is measured by a comparison of the carrying amount of an asset group to the undiscounted future net cash flows expected to be generated by the asset group. If estimated future undiscounted cash flows are not sufficient to recover the carrying value of the assets, impairment is measured by comparing the carrying amount of the assets to the estimated fair value, obtained through appraisal or market quotations, or discounted future net cash flow estimates. The Company did not recognize any long-lived asset impairments during 2022, 2021, and 2020.

Goodwill

Goodwill arising from business combinations represents the excess of the fair value of consideration transferred over the fair value of the identifiable net assets acquired and liabilities assumed as of the acquisition date. Goodwill amounts are not amortized, but rather tested for impairment annually, on October 1, or more often if circumstances indicate that the carrying value may not be recoverable. There was no impairment of goodwill during any of the periods presented.

Leases

Effective January 1, 2022, the Company adopted ASU 2016-02, Leases and the subsequently issued supplemental and/or clarifying ASUs known as ASC Topic 842 (collectively “ASC 842”) using the modified retrospective approach. See Recently Adopted Accounting Pronouncements below, which discusses the initial adoption of this new guidance.

The Company’s lease portfolio primarily consists of office and equipment leases for its practice facilities. The Company evaluates whether a contract is or contains a lease at contract inception. A lease exists when a contract conveys to the customer the right to control the use of identified property or equipment for a period of time in exchange for consideration. The definition of a lease embodies two conditions: 1) there is an identified asset in the contract that is land or a depreciable asset (i.e., property, plant, and equipment); and 2) the customer has the right to control the use of the identified asset. ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As the Company’s operating leases do not generally provide an implicit rate, the incremental borrowing rate is used based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate for a lease is the rate of interest the Company would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The lease term for all of the Company’s operating leases include the noncancellable period of the lease plus any additional periods covered by either a lessee option to extend (or not to terminate) the lease that the lessee is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. Lease payments included in the measurement of the operating lease right-of-use (“ROU”) assets and lease liabilities are comprised of fixed payments (including in-substance fixed payments), variable payments that depend on an index or rate, and the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.

The Company elected not to recognize operating lease ROU assets and lease liabilities for all short-term leases (leases with an initial lease term of 12 months or less). The Company recognizes the lease payments associated with short-term leases as an expense over the lease term.

The operating lease ROU assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. The operating lease ROU assets are subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The operating lease liabilities are initially measured at the present value of the unpaid lease payments at the lease commencement date.

Income Taxes

The Company accounts for its income taxes using the asset and liability method whereby deferred tax assets and liabilities are determined based on temporary differences between the basis used for financial reporting and income tax reporting purposes. Deferred income taxes are provided based on the enacted tax rates in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for deferred tax assets if it is more likely than not that the Company will not realize those tax assets through future operations.

As limited liability companies, the Company and its consolidated subsidiary are treated as partnerships for tax purposes. For these entities, income taxes are not payable or provided for, as the Company’s members are taxed individually on their interest in the Company’s taxable income. AON Partners and Partners of Maryland are both C corporations for tax reporting purposes. As such, a provision and liability for income taxes related to the results of these operations have been included in the Consolidated Statements of Operations.

Accounting for uncertainty in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken, or expected to be taken, in a tax return.

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. Although certain cash accounts exceed the federally insured deposit amount, management has not previously experienced nonperformance by any financial institution.

Equity-Based Compensation

The Company measures the compensation cost of all equity awards at the estimated fair value of the award on the date of grant and records the related expense in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss) on a straight-line basis over the applicable service period. The Company uses an option pricing method to value its common stock. This method allocates the fair value of total equity to the various components of equity based on an estimated liquidity event. This option pricing method first values the Company at the enterprise level, and then values breakpoints based on the liquidation preferences of the Class A, Class A-1, and Class B units. An allocation of total equity (enterprise value) is then performed to the various equity components based on the relative rights and privileges of each class of equity. The Company was assisted by third-party valuation experts to apply the above models to calculate the fair value estimate. Forfeitures are accounted for as they occur.

Debt Issuance Costs

Debt issuance costs consist of legal fees and other professional services and are capitalized. Debt issuance costs are presented in the Consolidated Balance Sheets as a direct deduction from the carrying value of the associated debt liability and amortized to interest expense in the Consolidated Statements of Operations and Comprehensive Income (Loss). The costs related to the term loans are amortized using the straight-line method, which approximates the effective interest method, over the terms of the related debt. The amortization related to the debt issuance costs included in interest expense within the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss) was $0.6 million in 2022, $0.4 million in 2021, and immaterial in 2020.

Offering Costs

The Company defers specific incremental costs directly attributable to proposed offerings of securities. These costs consist of legal, accounting, and other similar expenses incurred through the balance sheet date that are directly related to a potential offering. If the offering is completed, these costs will be charged against the gross proceeds of the offering. These offering costs will be allocated to the separable financial instruments issued in the transaction on a relative fair value basis of the securities issued, compared to total proceeds received. Offering costs associated with any instruments classified as liabilities will be expensed as incurred, presented as non-operating expenses in the condensed consolidated statement of operations and comprehensive loss.

During the six months ended June 30, 2023, the Company incurred additional deferred offering costs of approximately $1.1 million. At December 31, 2022, the Company had incurred approximately $0.3 million of offering costs, which are included in other assets in the accompanying condensed consolidated balance sheets. As discussed in Note 1, on June 7, 2023, the Company issued Redeemable Convertible Preferred Class C Units (“Class C Units”) for net proceeds of approximately $64.5 million ($65.0 million in gross proceeds, net of $0.5 million in offering costs). The Company determined that an additional $0.3 million of costs incurred through June 7, 2023 related to the process of raising the proceeds generated by the issuance of the Class C Units. Accordingly, these deferred offering costs have been reclassified from other assets to mezzanine equity, for a total of $0.8 million in Class C Unit offering costs. At June 30, 2023, approximately $1.1 million of deferred offering costs are included in other assets in the condensed consolidated balance sheets.

Offering Costs

the offering. These offering costs will be allocated to the separable financial instruments issued in the transaction on a relative fair value basis of the securities issued, compared to total proceeds received. Offering costs associated with any instruments classified as liabilities will be expensed as incurred, presented as non-operating expenses in the Consolidated Statement of Operations and Comprehensive Income (Loss). At December 31, 2022, the Company had incurred approximately $0.3 million of offering costs which are included in other assets in the accompanying Consolidated Balance Sheets.

Professional Liability

The policy further then extends coverage to the Company, by providing a $2.0 million limit per claim and a $4.0 million limit in the aggregate per policy period - on a first dollar basis, additionally, as no deductible applies. Reserves are established for estimates of the loss that will ultimately be incurred on claims that have been reported but not paid and claims that have been incurred but not reported. These reserves are established based on consultation with a third-party actuary. The actuarial valuations consider a number of factors, including historical claims payment patterns, changes in case reserves and the assumed rate of increase in healthcare costs. Management believes the use of actuarial methods to account for these reserves provides a consistent and effective way to measure these subjective accruals. However, due to the sensitive nature of this estimation technique, recorded reserves could differ from ultimate costs related to these claims due to changes in claims reporting, claims payment and settlement practices and differences in assumed future cost increases. Accrued unpaid claims and expenses that are expected to be paid within the next twelve months are classified as current liabilities and included in accrued other. All other accrued unpaid claims and expenses are classified as long-term liabilities and included in other long-term liabilities. Insurance recoveries associated with the unpaid claims are classified as long-term assets included in other assets.

Professional Liability

The Company maintains insurance policies for exposure to professional malpractice insurance risk. The limits of malpractice insurance provide each physician/advanced practice provider with a dedicated $1.0 million limit per claim and a $3.0 million limit in the aggregate per policy period — on a first dollar basis, as no deductible applies. The policy further then extends coverage to the Company, by providing a $2.0 million limit per claim and a $4.0 million limit in the aggregate per policy period — on a first dollar basis, additionally, as no deductible applies. Reserves are established for estimates of the loss that will ultimately be incurred on claims that have been reported but not paid and claims that have been incurred but not reported. These reserves are established based on consultation with a third-party actuary. The actuarial valuations consider a number of factors, including historical claims payment patterns, changes in case reserves and the assumed rate of increase in healthcare costs. Management believes the use of actuarial methods to account for these reserves provides a consistent and effective way to measure these subjective accruals. However, due to the sensitive nature of this estimation technique, recorded reserves could differ from ultimate costs related to these claims due to changes in claims reporting, claims payment and] settlement practices and differences in assumed future cost increases. Accrued unpaid claims and expenses that are expected to be paid within the next twelve months are classified as current liabilities and included in accrued other. All other accrued unpaid claims and expenses are classified as long-term liabilities and included in other long-term liabilities. Insurance recoveries associated with the unpaid claims are classified as long-term assets included in other assets.

Fair Value of Financial Instruments

Accounting guidance establishes a three-level hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows:

Level 1

Inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.

Level 2

Inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability.

Level 3

Inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities being measured within the fair value hierarchy.

Our financial instruments include cash, short-term marketable securities, accounts receivable, notes receivable, accounts payable, accrued expenses, long-term debt and contractual agreements that resulted in derivative liabilities. Our nonfinancial assets such as property and equipment are not measured at fair value on a recurring basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence that impairment may exist.

The carrying amounts of cash, accounts receivable, accounts payable, notes receivable, and accrued expenses approximate their fair value because of the short-term maturity and highly liquid nature of these instruments. We determine the fair value of long-term debt and marketable securities based on various factors including maturity schedules and current market rates.

See Note 11 for a discussion of the Company’s Level 3 financial instruments. As of December 31, 2022, there were no Level 3 financial instruments. There were no transfers between any levels of the hierarchy during any periods presented.

Fair Value of Financial Instruments

Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The carrying values of cash and cash equivalents, receivables, accounts payable, other current liabilities, and accrued interest approximate fair value due to their short-term nature.

Level 1

Inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.

Level 2

Level 3

Inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability.

Earnings Per Unit

The Company has four classes of member units - Class A, Class A-1, Class B, and Class C. The Class A and A-1 are considered common units as they have substantially similar rights. The Class B Units represent profits interests and are a participating security as these units may share in distributions, subject to a Distribution Threshold, under certain circumstances as defined in the Company’s Operating Agreement. The Class C Units represent

Preferred Units and are a participating security as these units are entitled to a preferred return and participate with common units in undistributed earnings on a pro rata basis.

Basic net income (loss) per unit attributable to common members is computed by dividing net income (loss) by the weighted-average number of common units outstanding during each reporting period. Diluted net income (loss) per unit attributable to common members includes the effect, if any, from the potential exercise or conversion of securities, such as convertible preferred units and options, which would result in the issuance of incremental common units. For diluted net income (loss) per unit, the weighted-average number of common units is the same as the Company does not have any dilutive instruments.

The Company follows the two-class method when computing net income (loss) per units as the Company has units that meet the definition of participating securities. The two-class method determines net income (loss) per unit for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common members for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Class B Units and the Class C Units do not have an obligation to share in losses, therefore in periods of net loss, the numerator is not impacted by Class B and Class C participation.

Earnings Per Unit

The Company has three classes of member units — Class A, Class A-1, and Class B. The Class A and A-1 are considered common units as they have substantially similar rights. The Class B units represent profits interests and are a participating security as these units may share in distributions, subject to a Distribution Threshold, under certain circumstances as defined in the Company’s Operating Agreement.

The Company follows the two-class method when computing net income (loss) per units as the Company has units that meet the definition of participating securities. The two-class method determines net income (loss) per unit for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common members for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Class B units do not have an obligation to share in losses, therefore in periods of net loss, the numerator is not impacted by Class B participation.

Recently Adopted/ Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In June 2016, the FASB issued ASU 2016-13, “Financial instruments-Credit Losses” (“ASU 2016- 13”). ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures relating to significant estimates and judgments used in estimating credit losses, as well as the credit quality. ASU 2016-13 is effective for the Company for annual reporting periods beginning after December 15, 2022. ASU 2016-13 was adopted by the Company effective January 1, 2023 with no material impact on the Company’s consolidated financial statements and related disclosures.

Recently Issued Accounting Pronouncements

In October 2021, the FASB issued ASU 2021-08, “Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which provides that an acquirer must recognize, and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2023, with early adoption permitted. The Company does not expect the adoption of this standard to have a material impact on the Company’s consolidated financial statements and related disclosures.

Recently Adopted Accounting Pronouncements

On January 1, 2022, the Company adopted ASU 2016-02, “Leases” (Topic 842), using the modified retrospective approach for leases that existed on January 1, 2022. ASC 842 requires lessees to recognize assets and liabilities for most leases.

The Company elected to adopt the leasing package of practical expedients, which provides for not retroactively reassessing: i) any expired or existing contracts containing leases under the new definition of a lease; ii) the lease classification for any expired or existing leases; and iii) initial direct costs for any expired or existing leases. The Company also elected to adopt practical expedients around land easements and the combination of lease and non-lease components for its real estate leases. These practical expedients were applied consistently to all applicable leases.

Upon adoption of ASC 842, the Company recorded an initial adjustment to the opening balance sheet of $44.4 million to operating ROU assets, ($1.2) million to prepaid expenses and other current assets, $8.0 million to current portion of operating lease liabilities, $38.0 million to long-term operating lease liabilities, $2.5 million in ROU assets and lease liabilities related to the Company’s finance leases; and $2.8 million to other long-term liabilities. The impact of ASC 842 was not material to the Consolidated Statement of Operations and Comprehensive Income (Loss).

In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform”, which provides temporary optional guidance to companies impacted by the transition away from the London Interbank Offered Rate (“LIBOR”). The guidance provides certain expedients and exceptions to applying GAAP in order to lessen the potential accounting burden when contracts, hedging relationships, and other transactions that reference LIBOR as a benchmark rate are modified. The guidance is effective as of March 12, 2020 through December 31, 2022. In February 2022, the Company amended its PNC Loan Facility whereby it is no longer referenced to LIBOR as the benchmark rate. The Company has no other contracts or transactions benchmarked to LIBOR.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes (Topic 740) by removing exceptions related to the incremental approach for intraperiod tax allocations, the requirement to recognize a deferred tax liability for certain equity method investments, the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary, and the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in ASU 2019-12 also simplify the accounting for income taxes by requiring that an entity recognize a franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination, specifying that an entity is not required to allocate deferred tax expense to a legal entity that is not subject to tax, requiring that an entity reflect the effect of an enacted change in tax laws or rates in the interim period that includes the enactment date, and minor codification improvements for income taxes related to employee stock ownership plans. The Company adopted the provisions of ASU 2019-12 effective January 1, 2022. The adoption of this pronouncement had no material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

In June 2016, the FASB issued ASU 2016-13, “Financial instruments — Credit Losses” (“ASU 2016-13”). ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures relating to significant estimates and judgments used in estimating credit losses, as well as the credit quality. ASU 2016-13 is effective for the Company for annual reporting periods beginning after December 15, 2022. The Company is currently evaluating the impact that this standard will have on the consolidated financial statements.

Variable Interest Entities (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Variable Interest Entities

3. Variable Interest Entities

AOMC is a wholly owned subsidiary of the Company and neither AOMC nor the Company has ownership interest in AON Partners and Partners of Maryland. Both AON Partners and Partners of Maryland are fully owned by physicians. The Company operates its physician practices through the MSAs and other contractual agreements between AOMC, AON Partners, and Partners of Maryland. The responsibilities of AOMC include, but are not limited to, negotiating provider and payor contracts, employment and compensation decisions, billing and collections, furnishing all supplies and equipment necessary for the respective practice’s operations as well as, necessary real estate, contracting on behalf of AON Partners and Partners of Maryland, entering into leases, holding a power of attorney to perform the above activities, preparing, maintaining and administering all accounting records (including financial reporting), expense payment, and maintenance of all information systems/software. The Company is paid a management fee to compensate AOMC for the services provided. AON Central Services is 80% physician owned and 20% owned by AON. AOMC entered into an agreement with AON Central Services, effective January 1, 2023, to provide qualified non-clinical and non-medical employees to AOMC to support the operation of the physician practices. AOMC pays a monthly management fee to AON Central Services equal to the aggregate cost of compensation, benefits and all other costs related to these employees. The Company invested $0.2 million in MIBA, a newly formed LLC, during the second quarter of 2023 in exchange for 56% equity ownership. The Company evaluated its relationship with MIBA under the VIE model and determined it was a VIE and the Company is the primary beneficiary based on its financial controlling interest.

Based on various quantitative and qualitative factors, including assessment of certain services performed and relationships held above, management has determined that AON Partners, Partners of Maryland, AON Central Services, and MIBA are all variable interest entities and AOMC is the primary beneficiary who holds the decision-making rights over the activities that most significantly impact the economic performance of AON Partners, Partners of Maryland, AON Central Services, and MIBA through the MSAs and other contractual agreements. Accordingly, the results of AON Partners, Partners of Maryland, AON Central Services, and MIBA have been consolidated with the Company for the six months ended June 30, 2023 and 2022.

The assets of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Assets
Cash and cash equivalents	$24,756	$26,844
Accounts receivable	145,159	136,098
Inventories	41,886	36,476
Prepaid expenses and other current assets	679	846
Goodwill and intangibles, net	180	180
Other receivables	32,861	28,139
Other assets	1,817	1,489
Total assets	$247,338	$230,072

The liabilities of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Liabilities
Accounts payable	$120,076	$102,783
Accrued compensation and benefits	13,745	6,021
Accrued other	16,995	15,926
Other long-term liabilities	369	452
Due to AON and subsidiaries, net	126,447	128,204
Total liabilities	$277,632	$253,386

All intercompany transactions and balances with the VIEs are eliminated in consolidation.

3. Variable Interest Entities

Based on various quantitative and qualitative factors, including assessment of certain services performed and relationships held above, management has determined that AON Partners and Partners of Maryland are both variable interest entities and AOMC is the primary beneficiary who holds the decision-making rights over the activities that most significantly impact AON Partners and Partners of Maryland’s economic performance through the MSAs and other contractual agreements. Accordingly, the results of AON Partners and Partners of Maryland have been consolidated with the Company for the years ended December 31, 2022, 2021, and 2020.

The assets of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Assets	2022	2021
Cash and cash equivalents	$26,844	$24,074
Accounts receivable	136,098	111,183
Inventories	36,476	34,529
Property and equipment, net	—	108
Prepaid expenses and other current assets	846	374
Goodwill and intangibles, net	180	180
Other receivables	28,139	24,950
Other assets	1,489	1,241
Total assets	$230,072	$196,639

The liabilities of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Liabilities	2022	2021
Accounts payable	$102,783	$89,275
Accrued compensation and benefits	6,021	6,504
Accrued other	15,926	9,346
Medicare advance payment	—	3,742
Other long-term liabilities	452	81
Due to AON and subsidiaries, net	128,204	102,090
Total liabilities	$253,386	$211,038

All intercompany transactions and balances with the VIEs are eliminated in consolidation.

CONSOLIDATED STATEMENTS OF MEMBERS' EQUITY (FY) - USD ($) $ in Thousands	Common Stock [Member] Class A Units [Member]	Common Stock [Member] Class A-1 Units [Member]	Common Stock [Member] Class B Units [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total	Class A Units [Member]	Class A-1 Units [Member]
Beginning balance at Dec. 31, 2019	$ 7,725	$ 0	$ 40	$ 0	$ 1,393	$ 9,158
Beginning balance (in units) at Dec. 31, 2019	7,725	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A-1 units, net of issuance costs		$ 28,500				28,500
Issuance of Class A-1 units, net of issuance costs (in units)		730
Net income	$ 0	$ 0	0	0	21,951	21,951	$ 17,145	$ 2,284
Other comprehensive loss						0
Equity-based compensation	0	0	20	0	0	20
Ending balance at Dec. 31, 2020	$ 7,725	$ 28,500	60	0	23,344	59,629
Ending balance (in units) at Dec. 31, 2020	7,725	730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	$ 0	0	0	(105)	(105)	(1,162)	1,057
Other comprehensive loss						0
Equity-based compensation	0	0	20	0	0	20
Ending balance at Dec. 31, 2021	$ 7,725	$ 28,500	80	0	23,239	59,544
Ending balance (in units) at Dec. 31, 2021	7,725	730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	$ 0	0	0	(4,380)	(4,380)	(4,555)	175
Other comprehensive loss	0	0	0	(84)	0	(84)
Equity-based compensation	$ 0	$ 0	10	0	0	10
Ending balance (in units) at Jun. 30, 2022	7,725	730
Beginning balance at Dec. 31, 2021	$ 7,725	$ 28,500	80	0	23,239	59,544
Beginning balance (in units) at Dec. 31, 2021	7,725	730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	$ 0	0	0	2,589	2,589	1,179	1,330
Other comprehensive loss	0	0	0	(117)	0	(117)
Ending balance at Dec. 31, 2022	$ 7,725	$ 28,500	80	(117)	25,828	62,016
Ending balance (in units) at Dec. 31, 2022	7,725	730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A-1 units, net of issuance costs	$ 0	$ 0	0	0	0	0
Issuance of Class A-1 units, net of issuance costs (in units)	0	0
Net income	$ 0	$ 0	0	0	(11,591)	(11,591)	$ (11,352)	$ (566)
Other comprehensive loss	$ 0	$ 0	$ 0	$ 88	$ 0	88
Ending balance at Jun. 30, 2023						$ 44,619
Ending balance (in units) at Jun. 30, 2023	7,725	904

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

Supplemental Condensed Balance Sheet Information, Property and Equipment, Net (Q2) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Property and Equipment, Net [Abstract]
Property and equipment, gross	$ 56,918	$ 49,328	$ 43,281
Accumulated depreciation and amortization	(21,246)	(17,348)	(10,633)
Property and equipment, net	35,672	31,980	32,648
Leasehold Improvements [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	29,794	26,076	23,744
Furniture, Fixtures and Equipment [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	2,700	2,669	2,346
Medical Equipment [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	12,443	11,003	8,811
Computer Equipment [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	3,271	3,115	2,713
Signs [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	147	129	117
Automobiles [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	59	69	69
Software [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	4,331	4,834	4,036
Construction-in-Progress [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	$ 4,173	$ 1,433	$ 1,445

Related Parties, Leases (FY) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for leases	$ 4,984	$ 4,826	$ 12,590
Related Party [Member]
Leases [Abstract]
Cash paid for leases	$ 1,300	$ 1,300	$ 2,500	$ 2,300	$ 6,800

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (FY) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenue

General and administrative expenses

$ 618,698

$ 551,948

$ 1,149,670

$ 943,747

$ 724,743

Costs and expenses

Cost of revenue

569,933

^[1]

513,011

^[1]

1,054,217

^[2],[3]

865,788

^[2],[3]

658,638

^[2],[3]

52,915

^[4]

42,723

^[4]

89,887

77,048

44,033

Total costs and expenses

622,848

555,734

1,144,104

942,836

702,671

Income (Loss) from operations

(4,150)

(3,786)

5,566

911

22,072

Income before income taxes

Interest expense

(2,968)

(1,110)

(3,417)

(1,419)

(1,116)

Interest income

126

151

127

Other income, net

(4,380)

461

289

736

180

(11,372)

(4,380)

2,589

355

21,168

Income tax expense (benefit)

460

(783)

Unrealized losses on marketable securities

(11,591)

(4,380)

2,589

(105)

21,951

Other comprehensive loss:

(84)

(117)

Other comprehensive gain (loss)

(84)

(117)

Comprehensive income (loss)

(11,503)

(4,464)

2,472

(105)

21,951

Patient Service Revenue, Net [Member]

Revenue

HHS Grant Income [Member]

613,486

546,895

1,137,932

938,242

714,678

Revenue

6,841

Other Revenue [Member]

Revenue

5,212

5,053

11,738

5,505

3,224

$ (11,352)

$ (4,555)

$ 1,179

$ (1,162)

$ 17,145

Earnings (loss) per common unit, basic (in dollars per share)

$ (1,469)

$ (590)

$ 153

$ (150)

$ 2,219

Earnings (loss) per common unit, diluted (in dollars per share)

$ (1,469)

$ (590)

$ 153

$ (150)

$ 2,219

Weighted average units outstanding, basic (in units)

7,725

Weighted average units outstanding, diluted (in units)

7,725

$ (566)

$ 175

$ 1,330

$ 1,057

$ 2,284

Earnings (loss) per common unit, basic (in dollars per share)

$ (753)

$ 239

$ 1,821

$ 1,447

$ 3,782

Earnings (loss) per common unit, diluted (in dollars per share)

$ (753)

$ 239

$ 1,821

$ 1,447

$ 3,782

Weighted average units outstanding, basic (in units)

752

730

604

Weighted average units outstanding, diluted (in units)

752

730

604

Class C Units [Member]

Cash flows from operating activities

$ 327

$ 0

[1]	Includes related party inventory expense of $500,569 and $446,594 for the six months ended June 30, 2023 and 2022, respectively
[2]	Includes related party inventory expense of $922,148, $718,675, and $567,782 for the years ended December 31, 2022, 2021, and 2020, respectively
[3]	Includes related party rent expense of $2,643, $2,319, and $6,845 for the years ended December 31, 2022, 2021 and 2020, respectively
[4]	Includes related party rent of $1,358 and $1,358 for the six months ended June 30, 2023 and 2022, respectively

Long-term Debt (Q2) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Long-term Debt [Abstract]
Total gross	$ 81,250	$ 81,250	$ 65,000
Unamortized debt issuance costs	(1,042)	(949)	(1,306)
Long-term debt	80,208	80,301	63,694
PNC Loan Facility [Member]
Long-term Debt [Abstract]
Total gross	$ 81,250	$ 81,250	$ 65,000

CONSOLIDATED STATEMENTS OF CASH FLOWS (FY) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities

$ 2,589

$ (105)

$ 21,951

Depreciation and amortization

6,719

6,079

3,656

Amortization of debt issuance costs

627

363

Amortization of right-of-use assets

^[1]

10,364

Loss on extinguishment of debt financing costs

Equity-based compensation

Deferred income taxes

786

(1,178)

Gain on sale of equipment

(121)

(79)

Deferred rent

1,293

651

(24,873)

(30,803)

(35,485)

^[2]

(1,947)

(10,260)

(6,272)

607

(1,883)

(481)

(3,123)

(8,095)

(6,121)

(1,748)

(1,021)

(550)

^[3]

14,077

21,679

34,000

(1,435)

2,093

3,840

Operating lease liability

4,008

5,568

5,271

^[4]

(10,485)

(3,742)

(13,447)

17,189

Net cash (used in) provided by operating activities

1,699

1,394

735

(6,784)

(26,338)

37,245

Cash flows from investing activities

Purchases of property and equipment

(7,193)

(8,322)

(12,221)

Disposals of property and equipment

2,084

683

Purchase of marketable securities

(12,619)

Proceeds from sales of marketable securities

2,652

Acquisition of physician practices

(5)

(3,215)

(933)

Issuance of notes receivable - related parties

(243)

(1,263)

(5,478)

Collections on notes receivable - related parties

1,333

1,423

3,958

Net cash used in investing activities

(13,991)

(10,694)

(14,674)

Cash flows from financing activities

Repayments of revolving line of credit

(10,000)

(12,061)

Borrowings on long-term debt

16,250

65,000

12,518

Repayments of long-term debt

(27,098)

(12,522)

Issuance of class A-1 units, net of issuance costs

28,500

Cash paid for deferred offering costs

(206)

Repayments on finance and capital leases

(426)

(205)

Cash paid for debt financing costs

(271)

(1,153)

(177)

Net cash provided by financing activities

15,347

26,544

16,258

Net (decrease) increase in cash and cash equivalents and restricted cash

(5,428)

(10,488)

38,829

Cash, cash equivalents and restricted cash

Cash and cash equivalents, Beginning of Period

32,354

42,842

4,013

Cash and cash equivalents, End of Period

26,926

32,354

42,842

Supplemental consolidated cash flow information

Cash paid for interest

2,184

1,378

1,097

Cash paid for income taxes

335

Supplemental noncash investing and financing activities

Changes in accounts payable for capital additions to property and equipment

623

890

302

Assumed capital lease liabilities in acquisition of physician practice

1,097

Reduction of notes receivable as consideration for purchase of physician practice assets

654

Note payable for acquisition of physician practice

621

Payables for deferred offering costs

133

Disposal of property and equipment in exchange for reduction in finance lease liability

$ 72

$ 0

[1]	Includes related party amortization of operating right-of-use assets of $2,059 for the year ended December 31, 2022
[2]	Includes changes in related party balances of ($1,850), ($11,848) , and ($6,322) for the years ended December 31, 2022, 2021, and 2020, respectively
[3]	Includes changes in related party balances of $13,314, $23,309, and $37,744 for the years ended December 31, 2022, 2021 and 2020, respectively
[4]	Includes changes in related party balance of ($1,995) for the year ended December 31, 2022

Marketable Securities (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Marketable Securities [Abstract]

Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s marketable securities financial assets that are measured at fair value on a recurring basis:

	As of June 30, 2023
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$172	$—	$—	$172
Marketable securities
Level 2:
Corporate bonds	7,597	29	(83)	7,543
U.S. Treasury securities	2,416	28	(3)	2,441
Level 2 total	10,013	57	(86)	9,984
Total	$10,185	$57	$(86)	$10,156

	As of December 31, 2022
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$109	$—	$—	$109
Marketable securities
Level 2:
Corporate bonds	7,742	6	(125)	7,623
U.S. Treasury securities	2,226	6	(4)	2,228
Level 2 total	9,968	12	(129)	9,851
Total	$10,077	$12	$(129)	$9,960

(1)	Included in cash and cash equivalents in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022.

The following table summarizes the Company’s financial assets that are measured at fair value on a recurring basis:

	As of December 31, 2022
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$109	$—	$—	$109
Marketable securities
Level 2:
Corporate bonds	7,742	6	(125)	7,623
U.S. Treasury securities	2,226	6	(4)	2,228
Level 2 total	9,968	12	(129)	9,851
Total	$10,077	$12	$(129)	$9,960

(1)	Included in cash and cash equivalents in the Consolidated Balance Sheet at December 31, 2022

Remaining Contractual Maturities

The fair value of the Company’s marketable securities as of June 30, 2023, by remaining contractual maturities, were as follows:

	Corporate Bonds	U.S. Treasuries	Total
Due in one year or less	$5,940	$1,672	$7,612
Due in one to five years	1,603	769	2,372
Total	$7,543	$2,441	$9,984

The fair value of the Company’s marketable securities as of December 31, 2022, by remaining contractual maturities, were as follows:

	As of December 31, 2022
	Corporate Bonds	U.S. Treasury Securities	Total
Due within one year	$3,660	$1,073	$4,733
Due within one to five years	3,963	1,155	5,118
Total	$7,623	$2,228	$9,851

Summary of Significant Accounting Policies and Basis of Presentation, Accounts Receivable (FY) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2023	Dec. 31, 2020
Accounts Receivable [Abstract]
Accounts receivable, net	$ 136,098	$ 111,226	$ 145,159	$ 80,400
Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	100.00%	100.00%
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| Medicare [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	25.00%	27.00%
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| Managed Medicare [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	25.00%	21.00%
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| Other Commercial [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	17.00%	17.00%
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| BCBS [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	17.00%	16.00%
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| Managed Medicaid [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	8.00%	12.00%
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| Other [Member]
Accounts Receivable [Abstract]
Percentage of account receivables	8.00%	7.00%

Related Parties (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Transactions Notes Receivable

The notes bear interest at the Company’s incremental borrowing rate (6.65% at June 30, 2023 and 1.57% at December 31, 2022, respectively).

	As of June 30, 2023	As of December 31, 2022	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,027	$1,057	$5,355	5/1/2019	4/30/2024
Note 3	67	119	491	6/1/2019	5/31/2024
Note 6	—	351	1,111	5/22/2020	5/22/2023
Note 8	2,150	2,221	2,816	5/1/2020	5/1/2025
Note 9	—	125	125	1/24/2022	6/30/2023
Total notes receivables	3,244	3,873

As of June 30,

2023

As of December 31,

2022

Original

Principal

Issue

Date

Maturity

Date

Less: Current portion of notes receivable

$(1,492)

(1,797)

Notes receivable, less current portion

$1,752

$2,076

The notes bear interest at the Company’s incremental borrowing rate (1.57% at December 31, 2022 and 1.55% at December 31, 2021).

	As of December 31,		Original Principal	Issue Date	Maturity Date
	2022	2021	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,057	$1,294	$5,355	5/1/2019	4/30/2024
Note 3	119	217	491	6/1/2019	5/31/2024
Note 4	—	259	917	8/1/2019	7/31/2024
Note 6	351	680	1,111	5/22/2020	5/22/2023
Note 8	2,221	2,513	2,816	5/1/2020	5/1/2025
Note 9	125	—	125	1/24/2022	6/30/2023
Total notes receivables	3,873	4,963
Less: Current portion of notes receivable	(1,797)	(1,812)
Notes receivable, less current portion	$2,076	$3,151

Business (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Marketable Securities [Member]

Business

1. Business

American Oncology Network, LLC (“AON” or the “Company”), through its subsidiary company and variable interest entities (together, “its subsidiaries”), is an alliance of physicians and seasoned healthcare leaders who provide comprehensive oncology services across 31 oncology practices located in eighteen states (Arizona, Arkansas, Florida, Georgia, Iowa, Idaho, Indiana, Louisiana, Maryland, Missouri, Michigan, North Carolina, Nevada, Ohio, South Carolina, Texas, Virginia and Washington). The Company also provides expertise in drug procurement and payor contracting, along with practice diversification through centralized laboratory and pathology services, as well as specialty pharmacy services. During the six months ended June 30, 2023 and 2022, the Company entered into affiliation agreements with or acquired the following oncology practices.

Six Months Ended June 30, 2022		Six Months Ended June 30, 2023
State	Effective Date	State	Effective Date
Arizona	1/1/2022	Texas^(a)	6/12/2023
Georgia^(a)	1/1/2022
Louisiana^(a)	1/17/2022
Georgia^(a)	4/5/2022
Georgia^(a)	5/1/2022

(a)	The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

The operations of the practices that were acquired have been included in the Company’s condensed consolidated financial statements since the date of acquisition. The Company intends to continue to pursue additional purchases of physician practices in addition to seeking out new affiliation relationships.

Business Combination Agreements

On October 5, 2022, and as amended and restated on January 6, 2023, and as further amended and restated on April 27, 2023 (“Second Amended and Restated Business Combination Agreement”), the Company announced that it entered into a definitive Business Combination Agreement (“Business Combination”) with Digital Transformation Opportunities Corp. (“DTOC”), a special purpose acquisition company. The transaction is expected to close in the second half of 2023, subject to approval by DTOC stockholders and other customary closing conditions. The Business Combination Agreement provides for the Company to pay an $18.0 million termination fee to the Sponsor should the Company enter into a definitive agreement with another party providing for an alternative business combination transaction.

On June 7, 2023, AON sold 2,459 AON Class C Units at an aggregate purchase price of $65.0 million to GEF AON Holdings Corp., net of $0.8 million of offering costs. GEF AON Holdings Corp. has an option to purchase an additional 378 AON Class C Units until the closing of the Business Combination at a purchase price of $26,423 per Unit. In connection with this investment, AON amended and restated its operating agreement, to among other things, authorize 2,837 AON Class C Units of which 2,459 were issued and outstanding as of June 30, 2023. See Note 11 for a discussion of rights and privileges of Class C Units and related accounting for such Units and option to purchase additional Units.

On June 14, 2023, AON and DTOC amended and restated the Second Amended and Restated Business Combination Agreement to provide for, among other things, the merger of DTOC MergerSub, Inc. (“Merger Sub”) with and into GEF AON Holdings Corp. (the “AON Class C Preferred Investor”) whereby the separate existence of Merger Sub will cease. New AON (defined as American Oncology Network Inc. (f/k/a Digital Transformation Opportunities Corp.) and its consolidated subsidiaries, after giving effect to the Business Combination) will issue a number of shares of New AON Series A Preferred Stock equal to the number of AON Series A preferred Units held by the AON Class C Preferred Investor to AEA Growth Management LP, the parent of AON Class C Preferred Investor (“AEA Growth”) in exchange for all the shares of common stock held by AEA Growth in the AON Class C Preferred Investor. In addition, the following will be implemented:

•	merger of the AON Class C Preferred Investor with and into New AON,

•	reclassification and exchange of the AON Class C Units, including any accrued interest thereon, for AON Series A preferred Units at the Per Company Class C Unit Exchange Ratio, and

•	removal of the minimum cash requirement of $60.0 million included in the Business Combination Agreement.

1. Business

American Oncology Network, LLC (“AON LLC”, or the “Company”) was formed on February 23, 2017 and began operations in September 2018. The Company, through its subsidiary company and variable interest entities (together, “its subsidiaries”), is an alliance of physicians and seasoned healthcare leaders who provide comprehensive oncology services through 24 oncology practices located in Arkansas, Louisiana, Indiana, Virginia, Ohio, Nevada, Iowa, Missouri, Washington, North Carolina, Michigan, Maryland, South Carolina, Arizona, and Georgia. The Company also provides expertise in drug procurement and payor contracting, along with practice diversification through centralized laboratory and pathology services, as well as specialty pharmacy services. During the years ended December 31, 2022, 2021, and 2020, respectively, the Company entered into affiliation agreements with or acquired the following oncology practices. The operations of the practices that were acquired have been included in the Company’s consolidated financial statements since the date of acquisition. The Company intends to continue to pursue additional purchases of physician practices in addition to seeking out new affiliation relationships.

State

Effective

Date

State

Effective

Date

State

Effective

Date

Location 12

North

Carolina

4/1/2020

Location 18

Maryland

3/1/2021

Location 23

Arizona

1/1/2022

Location 13

Maryland

5/1/2020

Location 19

Arizona

4/1/2021

Location 24

Georgia^(a)

1/1/2022

Location 14

Virginia

5/1/2020

Location 20

Washington

5/1/2021

Location 25

Louisiana^(a)

1/17/2022

Location 15

Michigan

7/1/2020

Location 21

Georgia^(a)

8/1/2021

Location 26

Georgia^(a)

4/5/2022

Location 16

Washington

8/1/2020

Location 22

Arizona

11/1/2021

Location 27

Georgia^(a)

5/1/2022

Location 17

Georgia and

South

Carolina

9/1/2020

Location 28

Georgia^(a)

9/20/2022

(a)	The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

Business Combination Agreement

On October 5, 2022, and as amended and restated on January 6, 2023 and April 27, 2023, the Company announced that it entered into a definitive Business Combination Agreement with Digital Transformation Opportunities Corp. (“DTOC”), a special purpose acquisition company (the “DTOC Transaction”). The Transaction is expected to close in the second half of 2023, subject to approval by DTOC stockholders and other customary closing conditions. The Business Combination Agreement provides for the Company to pay an $18.0 million termination fee to the Sponsor should the Company enter into a definitive agreement with another party providing for an alternative business combination transaction.

Other Receivables (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Receivables [Abstract]
Rebates receivable	$ 32,771	$ 27,955	$ 24,950
Other	158	246	128
Total other receivables	$ 32,929	$ 28,201	$ 25,078

Subsequent Events and Other Matters (Q2)	6 Months Ended	12 Months Ended
Subsequent Events and Other Matters (Q2)	Jun. 30, 2023	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events and Other Matters	13. Subsequent Events and Other Matters In preparing these condensed consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through September 15, 2023, the date the condensed consolidated financial statements were available to be issued. In July and August of 2023, the Company granted an additional 64 Class B-1 Units to certain employees under the 2017 Profits Interest Plan, for a total number of 415 Class B-1 Units granted.	18. Subsequent Events The Company has evaluated subsequent events through April 27, 2023, the date these consolidated financial statements were available to be issued and has determined that the following subsequent event requires disclosure in the consolidated financial statements. On February 28, 2023, AON entered into a term sheet with a third-party institutional investor contemplating, on a non-binding basis, an aggregate investment by such investor of at least $65.0 million in the form of newly issued convertible preferred securities, to be consummated concurrently with the closing of the DTOC Transaction.

Condensed Consolidated Statements of Operations and Comprehensive Loss (Q2) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs and expenses
Rent expense	$ 5,630	$ 6,136	$ 12,465
Related Party [Member]
Costs and expenses
Inventory expense	500,569	446,594	922,148	$ 718,675	$ 567,782
Rent expense	$ 1,358	$ 1,358	$ 2,643	$ 2,319	$ 6,845

Commitments and Contingencies (FY)	12 Months Ended
Commitments and Contingencies (FY)	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Florida Cancer Specialists Service In October 2017, the Company entered into a Services Agreement (“Agreement’) with Florida Cancer Specialists, P.L. (“FCS”). FCS provides certain medical services and practice management and administration services to the various physician practices. These services include but are not limited to insurance billing, collections, accounts payable, purchasing, payroll processing, and compliance and coding support. The initial agreement has a five-year term which renews annually unless either party terminates with twelve months written notice. Fees for services are based on a percentage of full-time equivalent (“FTE”) revenue, as defined, subject to a maximum percentage per FTE at defined revenue levels. For the years ended December 31, 2021 and 2020, AON Partners and Partners of Maryland collectively incurred costs of approximately $4.7 million and $18.7 million, respectively, related to this Agreement which are included in general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss). As additional security for payments under the Agreement, AON LLC deposited $1.0 million with FCS. During 2021, the agreement was terminated, and the Company settled with FCS. Contingencies The Company, through its arrangements with certain contracts, is subject to the Medicare and Medicaid fraud and abuse laws which prohibit, among other things, any false claims, or any bribe, kick- back or rebate in return for the referral of Medicare and Medicaid patients. Violation of these prohibitions may result in civil and criminal penalties and exclusion from participation in the Medicare and Medicaid programs. Management has implemented policies and procedures they believe will assure that the Company is in substantial compliance with these laws. From time to time, the Company may receive requests for information from government agencies pursuant to their regulatory or investigational authority. Such requests can include subpoenas or demand letters for documents to assist the government in audits or investigations. Management believes that the outcome of any of these investigations would not have a material adverse effect on the Company. Laws and regulations governing the Medicare program are complex and subject to interpretation. The Company believes that it is complying in all material respects with all applicable laws and regulations and is not aware of any pending or threatened investigations involving allegations of potential wrongdoing that would have a material effect on the Company’s consolidated financial statements. Compliance with such laws and regulations can be subject to future government review and interpretation, as well as significant regulatory action including fines, penalties, and exclusion from the Medicare Program. The Company and its affiliates are subject to various legal proceedings and claims arising in the normal course of their business. In the opinion of management, the amount of the ultimate liability, if any, with respect to these lawsuits and claims will not have a material effect on the consolidated financial statements of the Company.

Summary of Significant Accounting Policies and Basis of Presentation, Segments (FY) (Details) - Segment	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Segments [Abstract]
Number of operating segments	1	1
Number of reportable segments	1	1

Fair Value Measurements, Financial Assets Measured at Fair Value on Recurring Basis (FY) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Financial Assets Measured at Fair Value [Abstract]

Financial Assets Measured at Fair Value [Abstract]

$ 9,984

$ 9,851

Corporate Bonds [Member]

U.S. Treasury Securities [Member]

7,543

7,623

Financial Assets Measured at Fair Value [Abstract]

Financial Assets Measured at Fair Value [Abstract]

2,441

2,228

Recurring [Member]

10,185

10,077

(86)

(129)

Recurring [Member] | Level 1 [Member] | Money Market Funds [Member]

10,156

9,960

Financial Assets Measured at Fair Value [Abstract]

^[1]

172

109

^[2]

^[1]

^[2]

^[1]

^[2]

Recurring [Member] | Level 2 [Member] | Marketable Securities [Member]

^[1]

172

109

^[2]

Financial Assets Measured at Fair Value [Abstract]

10,013

9,968

(86)

(129)

Recurring [Member] | Level 2 [Member] | Corporate Bonds [Member]

9,984

9,851

Financial Assets Measured at Fair Value [Abstract]

7,597

7,742

(83)

(125)

Recurring [Member] | Level 2 [Member] | U.S. Treasury Securities [Member]

7,543

7,623

Financial Assets Measured at Fair Value [Abstract]

2,416

2,226

(3)

(4)

Fair Value Estimated Using the Black-Scholes Option Pricing Model

$ 2,441

$ 2,228

[1]	Included in cash and cash equivalents in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022.
[2]	Included in cash and cash equivalents in the Consolidated Balance Sheet at December 31, 2022

Long-term Debt, Credit Facilities (FY) (Details) - USD ($) $ in Thousands					1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 29, 2021	Apr. 30, 2021	Sep. 04, 2020	Apr. 22, 2019	Aug. 31, 2018	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 15, 2022	Feb. 14, 2022
Debt Instruments [Abstract]
Restricted cash							$ 0	$ 5,000
Debt issuance cost						$ 1,100	300
Loss on extinguishment of debt							$ 0	(80)	$ 0
Truist Revolver [Member]
Debt Instruments [Abstract]
Long-term debt, term							1 year
Revolving line of credit agreement amount			$ 10,000	$ 27,000	$ 10,000
Line of credit maturity date				Apr. 20, 2020	Aug. 31, 2019		Sep. 03, 2021
Borrowings outstanding								0
Truist Revolver [Member] \| LIBOR [Member]
Debt Instruments [Abstract]
Term of variable rate							1 month
Basis spread on interest rate					1.30%
Truist Revolver [Member] \| LIBOR [Member] \| Minimum [Member]
Debt Instruments [Abstract]
Basis spread on interest rate			3.60%
Truist Revolver [Member] \| LIBOR [Member] \| Maximum [Member]
Debt Instruments [Abstract]
Basis spread on interest rate			4.35%
PNC Line of Credit [Member]
Debt Instruments [Abstract]
Revolving line of credit agreement amount		$ 5,000								$ 1,000	$ 10,000
Line of credit maturity date						Apr. 30, 2024	Apr. 30, 2024
Proceeds from lines of credit							$ 0	0
Percentage of quarterly bank fees		1.65%
Percentage of unused line fee		0.20%
PNC Line of Credit [Member] \| LIBOR [Member]
Debt Instruments [Abstract]
Basis spread on interest rate		1.65%
PNC Line of Credit [Member] \| Alternate Base Rate [Member]
Debt Instruments [Abstract]
Basis spread on interest rate		0.65%
PNC Line of Credit [Member] \| Bloomberg Short-Term Bank Yield Index [Member]
Debt Instruments [Abstract]
Basis spread on interest rate	1.65%
Truist Term Loans [Member]
Debt Instruments [Abstract]
Long-term debt, term							7 years
Long-term debt, interest only term							2 years
Long-term debt, principal and interest payments term							5 years
PNC Loan Facility [Member]
Debt Instruments [Abstract]
Line of credit maturity date		Apr. 30, 2024				Jun. 30, 2026	Apr. 30, 2024
Proceeds from lines of credit	$ 16,300	$ 34,600
Line of credit facility, maximum borrowing capacity	$ 75,000	$ 65,000									$ 125,000
Percentage of borrowing base facility limit in first year		65.00%
Percentage of borrowing base facility limit in subsequent years		75.00%
Pledged collateral as restricted cash		$ 10,000
Pledged collateral as restricted cash to be released quarterly in increments		$ 2,500
Restricted cash								5,000
Debt issuance cost						$ 400	$ 300	1,100
Loss on extinguishment of debt								(100)
Interest expense on long-term debt							$ 3,400	$ 1,400	$ 1,100
PNC Loan Facility [Member] \| LIBOR [Member]
Debt Instruments [Abstract]
Term of variable rate						1 month	1 month
PNC Loan Facility [Member] \| Alternate Base Rate [Member]
Debt Instruments [Abstract]
Basis spread on interest rate		1.45%

Leases, Measurement of Lease Liabilities (Q2) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities [Abstract]
Operating cash flows from operating leases	$ 4,984	$ 4,826	$ 12,590
Operating cash flows from finance leases	44	41	79
Financing cash flows from finance leases	233	215	426	$ 205	$ 0
ROU assets obtained in exchange for new operating lease liabilities	4,885	2,808	$ 9,811
ROU assets obtained in exchange for new finance lease liabilities	$ 1,103	$ 0
Medical Equipment [Member]
Cash Paid for Amounts Included in the Measurement of Lease Liabilities [Abstract]
Finance lease term	260 months
Future lease commitment	$ 3,800

Equity (Q2) (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

The fair value was estimated at June 30, 2023 using the Black-Scholes Option Pricing model using the following assumptions:

Expected annual dividend yield			0.0%
Expected volatility			65.0%
Risk-free rate of return			5.4%
Expected option term (years)			0.25

Basis of Presentation and Significant Accounting Policies, Basis of Presentation (Q2) (Details) - MIBA [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2023	Jun. 30, 2023
Basis of Presentation [Abstract]
Amount contributed in equity	$ 0.2	$ 0.2
Percentage of interest in equity	56.00%	56.00%

Related Parties (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Related Parties

10.	Related Parties

Transactions Notes Receivable

The Company enters into promissory notes with physicians of the Company. The notes receivable balances are satisfied through cash payments or settlements through the physicians’ compensation as part of their employee agreement. The notes receivable are amortized over a 60-month period as a reduction of compensation. The notes bear interest at the Company’s incremental borrowing rate (6.65% at June 30, 2023 and 1.57% at December 31, 2022, respectively).

	As of June 30, 2023	As of December 31, 2022	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,027	$1,057	$5,355	5/1/2019	4/30/2024
Note 3	67	119	491	6/1/2019	5/31/2024
Note 6	—	351	1,111	5/22/2020	5/22/2023
Note 8	2,150	2,221	2,816	5/1/2020	5/1/2025
Note 9	—	125	125	1/24/2022	6/30/2023
Total notes receivables	3,244	3,873

As of June 30,

2023

As of December 31,

2022

Original

Principal

Issue

Date

Maturity

Date

Less: Current portion of notes receivable

$(1,492)

(1,797)

Notes receivable, less current portion

$1,752

$2,076

Leases

The Company has operating leases for ten of the office facilities owned by employees of the Company. Total cash paid for leases to related parties for the six months ended June 30, 2023 and 2022 was approximately $1.3 million and $1.3 million, respectively.

Inventory Purchases/Concentration Risk

The Company purchases the majority of pharmaceuticals inventory from a subsidiary under common control of its Class A-1 Member. During the six months ended June 30, 2023 and 2022, the Company purchased approximately $506.0 million and $443.0 million, respectively, from the related party. These purchases were approximately 89% and 86% as a percentage of cost of revenue for the six months ended June 30, 2023 and 2022, respectively. At June 30, 2023 and December 31, 2022, the Company had $117.8 million and $102.1 million, respectively, included in accounts payable for invoices from the related party, representing 96% of accounts payable at each period-end.

13. Related Parties

Transactions Notes Receivable

The Company entered into promissory notes with physicians of the Company. The notes receivable balances are satisfied through cash payments or settlements through the physicians’ compensation as part of their employee agreement. The notes receivable are amortized over a 60-month period as a reduction of compensation. The notes bear interest at the Company’s incremental borrowing rate (1.57% at December 31, 2022 and 1.55% at December 31, 2021).

	As of December 31,		Original Principal	Issue Date	Maturity Date
	2022	2021	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,057	$1,294	$5,355	5/1/2019	4/30/2024
Note 3	119	217	491	6/1/2019	5/31/2024
Note 4	—	259	917	8/1/2019	7/31/2024
Note 6	351	680	1,111	5/22/2020	5/22/2023
Note 8	2,221	2,513	2,816	5/1/2020	5/1/2025
Note 9	125	—	125	1/24/2022	6/30/2023
Total notes receivables	3,873	4,963
Less: Current portion of notes receivable	(1,797)	(1,812)
Notes receivable, less current portion	$2,076	$3,151

Leases

The Company has operating leases for office facilities owned by employees of the Company. Total cash paid for leases to related parties for the years ended December 31, 2022, 2021, and 2020 was approximately $2.5 million, $2.3 million and $6.8 million, respectively.

Inventory Purchases/Concentration Risk

The Company purchases the majority of its pharmaceuticals inventory from a subsidiary under common control of the Class A-1 Member, which made an equity investment in AON in 2020. During the years ended December 31, 2022, 2021 and 2020, the Company purchased approximately $924.0 million, $731.0 million, and $574.0 million, respectively, from the related party. These purchases were approximately 88%, 83% and 88% as a percentage of cost of revenue for the years ended December 31, 2022, 2021 and 2020, respectively. At December 31, 2022 and 2021, the Company had $102.1 million and $88.8 million, respectively, included in accounts payable for invoices from the related party, representing 96% of total accounts payable at each balance sheet date.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Subsidiaries in Consolidation [Abstract]

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2023
Cover [Abstract]
Document Type	S-1
Amendment Flag	false
Entity Registrant Name	American Oncology Network, Inc.
Entity Central Index Key	0001839998
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false

Business (Q2) (Details)
$ / shares in Units, $ in Millions

6 Months Ended

Jun. 07, 2023

USD ($)

$ / shares

Jun. 30, 2023

OncologyPractice

Jun. 30, 2022

Jun. 14, 2023

USD ($)

Dec. 31, 2022

Oct. 05, 2022

USD ($)

Dec. 31, 2021

Number of oncology practice | OncologyPractice

Business combination agreement termination fees | $

$ 18.0

Units outstanding (in shares)

2,459

Minimum cash requirement | $

$ 60.0

Class C Units [Member]

Units authorized (in shares)

2,837

Units issued (in shares)

2,459

Units outstanding (in shares)

2,459

Class C Units [Member] | GEF AON Holdings Corp. [Member]

Number of shares sold (in shares)

2,459

Purchase price | $

$ 65.0

Offering cost | $

$ 0.8

Business combination, purchase on additional shares (in shares)

378

Business combination, purchase price (in dollars per share) | $ / shares

$ 26,423

Arizona [Member]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Jan. 01, 2022

Georgia [Member]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

^[1]

Jan. 01, 2022

Louisiana [Member]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

^[1]

Jan. 17, 2022

Georgia One [Member]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

^[1]

Apr. 05, 2022

Georgia Two [Member]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

^[1]

May 01, 2022

Texas [Member]

Marketable Securities [Member]

^[1]

Jun. 12, 2023

[1]

The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

Marketable Securities, Financial Assets Measured at Fair Value on Recurring Basis (Q2) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

$ 9,984

$ 9,851

Corporate Bonds [Member]

U.S. Treasury Securities [Member]

7,543

7,623

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

2,441

2,228

Recurring [Member]

10,185

10,077

(86)

(129)

Recurring [Member] | Level 1 [Member] | Money Market Funds [Member]

10,156

9,960

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

^[1]

172

109

^[2]

^[1]

^[2]

^[1]

^[2]

Recurring [Member] | Level 2 [Member] | Marketable Securities [Member]

^[1]

172

109

^[2]

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

10,013

9,968

(86)

(129)

Recurring [Member] | Level 2 [Member] | Corporate Bonds [Member]

9,984

9,851

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

7,597

7,742

(83)

(125)

Recurring [Member] | Level 2 [Member] | U.S. Treasury Securities [Member]

7,543

7,623

Financial Assets Measured at Fair Value on Recurring Basis [Abstract]

2,416

2,226

(3)

(4)

$ 2,441

$ 2,228

[1]	Included in cash and cash equivalents in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022.
[2]	Included in cash and cash equivalents in the Consolidated Balance Sheet at December 31, 2022

Leases, Right-of-Use Assets and Lease Liabilities (FY) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

$ 43,439

^[1]

$ 43,724

^[1],[2]

$ 0

^[2]

Operating lease right-of-use assets, net

Finance lease right-of-use assets, net (included in property and equipment, net)

$ 2,913

$ 1,998

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property and equipment, net

Total right-of-use assets

$ 46,352

$ 45,722

Current [Abstract]

Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

$ 7,113

^[3]

$ 9,177

^[3],[4]

^[4]

Current portion of operating lease liabilities

Current portion of finance lease liabilities (included in accrued other)

$ 623

$ 425

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Liabilities, Current

Total current lease liabilities

$ 7,736

$ 9,602

Long-term [Abstract]

Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

$ 39,527

^[5]

$ 37,224

^[5],[6]

$ 0

^[6]

Long-term operating lease liabilities

Long-term finance lease liabilities (included in other long-term liabilities)

$ 2,288

$ 1,619

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Other long-term liabilities

Total lease liabilities

$ 49,551

$ 48,445

[1]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[3]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[5]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[6]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Supplemental Condensed Balance Sheet Information (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Supplemental Condensed Balance Sheet Information [Abstract]

Property and Equipment, Net

Other receivables consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Rebates receivable	$32,771	$27,955
Other	158	246
Total other receivables	$32,929	$28,201

Other receivables consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Rebates receivable	$27,955	$24,950
Other	246	128
Total other receivables	$28,201	$25,078

Inventory

Inventory consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Intravenous drugs	$29,599	$25,674
Oral pharmaceuticals	12,287	10,802
Total inventories	$41,886	$36,476

Inventories consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Intravenous drugs	$25,674	$28,897
Oral pharmaceuticals	10,802	5,632
Total inventories	$36,476	$34,529

Property and equipment, net consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Leasehold improvements	$29,794	$26,076
Furniture, fixtures and equipment	2,700	2,669
Medical equipment	12,443	11,003
Computer equipment	3,271	3,115
Signs	147	129
Automobiles	59	69
Software	4,331	4,834
Construction-in-progress	4,173	1,433
	56,918	49,328
Accumulated depreciation and amortization	(21,246)	(17,348)
Property and equipment, net	$35,672	$31,980

Property and equipment, net, consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Leasehold improvements	$26,076	$23,744
Furniture, fixtures and equipment	2,669	2,346
Medical equipment	11,003	8,811
Computer equipment	3,115	2,713
Signs	129	117
Automobiles	69	69
Software	4,834	4,036
Construction-in-progress	1,433	1,445
	49,328	43,281
Accumulated depreciation and amortization	(17,348)	(10,633)
Property and equipment, net	$31,980	$32,648

Accrued Other

Accrued other consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Refund liability	$15,683	$14,544
Class A-1 derivative liability	2,526	—
Class C derivative liability	1,349	—
Deferred social security taxes - COVID	—	378
Current portion of finance lease liabilities	623	425
Other	2,692	2,453
Total accrued other	$22,873	$17,800

Accrued other consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Refund liability	$14,544	$8,306
Deferred social security taxes – COVID	378	378
Current portion of finance lease liability	425	—
Other	2,453	5,108
Total accrued other	$17,800	$13,792

Business (FY) (Details)
$ in Millions

6 Months Ended

12 Months Ended

Jun. 30, 2022

Dec. 31, 2022

USD ($)

OncologyPractice

Dec. 31, 2021

Dec. 31, 2020

Subsidiaries in Consolidation [Abstract]

Number of oncology practices | OncologyPractice

North Carolina [Member] | Location 12 [Member]

Termination fees | $

$ 18.0

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Maryland [Member] | Location 13 [Member]

Apr. 01, 2020

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Maryland [Member] | Location 18 [Member]

May 01, 2020

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Virginia [Member] | Location 14 [Member]

Mar. 01, 2021

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Michigan [Member] | Location 15 [Member]

May 01, 2020

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Washington [Member] | Location 16 [Member]

Jul. 01, 2020

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Washington [Member] | Location 20 [Member]

Aug. 01, 2020

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

May 01, 2021

Arizona [Member]

Arizona [Member] | Location 19 [Member]

Jan. 01, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Arizona [Member] | Location 22 [Member]

Apr. 01, 2021

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Arizona [Member] | Location 23 [Member]

Nov. 01, 2021

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Jan. 01, 2022

Georgia [Member]

Georgia [Member] | Location 21 [Member]

^[1]

Jan. 01, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Georgia [Member] | Location 24 [Member]

^[1]

Aug. 01, 2021

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Georgia [Member] | Location 26 [Member]

^[1]

Jan. 01, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Georgia [Member] | Location 27 [Member]

^[1]

Apr. 05, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Georgia [Member] | Location 28 [Member]

^[1]

May 01, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

^[1]

Sep. 20, 2022

Louisiana [Member]

Louisiana [Member] | Location 25 [Member]

^[1]

Jan. 17, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Georgia and South Carolina [Member] | Location 17 [Member]

^[1]

Jan. 17, 2022

Additional Purchases of Physician Practices in Addition to Seeking Out New Affiliation Relationships [Abstract]

Summary of Significant Accounting Policies and Basis of Presentation [Abstract]

Sep. 01, 2020

[1]

Summary of Significant Accounting Policies and Basis of Presentation (FY) (Tables)

12 Months Ended

Dec. 31, 2022

Cash, Cash Equivalents and Restricted Cash

	As of December 31,
	2022	2021
Cash and cash equivalents	$26,926	$27,354
Restricted cash	—	5,000
Total cash, cash equivalents and restricted cash shown in the statements of cash flow	$26,926	$32,354

Concentrations of Accounts Receivable, Net of Allowances

Concentrations of accounts receivable, net of allowances for contractual discounts and doubtful accounts, as of December 31, 2022 and 2021, are as follows:

	As of December 31,
	2022	2021
Medicare	25%	27%
Managed Medicare	25%	21%
Other Commercial	17%	17%
BCBS	17%	16%
Managed Medicaid	8%	12%
Other	8%	7%
	100%	100%

Estimated Useful Lives

Leasehold improvements			1 – 15 years
Furniture, fixtures and equipment			7 years
Medical equipment			5 – 10 years
Computer equipment			5 years
Signs			7 years
Automobiles			5 years
Software			7 years

Basis of Presentation and Significant Accounting Policies (Q2) (Policies)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Summary of Significant Accounting Policies and Basis of Presentation [Abstract]

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of the Company were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. Management believes the unaudited condensed consolidated financial statements for the interim periods presented contain all necessary adjustments, of a normal recurring nature, to state fairly, in all material respects, the Company’s financial position, results of operations and cash flows for the interim periods presented. These condensed consolidated financial statements were prepared on the same basis as and should be read in conjunction with the Company’s annual consolidated financial statements. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results the Company expects for the entire year.

The condensed consolidated financial statements include the accounts of the Company, its wholly owned subsidiary American Oncology Management Company, LLC (“AOMC”), and its consolidated variable interest entities (“VIEs”) American Oncology Partners, P.A. (“AON Partners”), American Oncology Partners of Maryland, P.A. (“Partners of Maryland”), AON Central Services, LLC (“AON Central Services”), and Meaningful Insights Biotech Analytics, LLC (“MIBA”). All intercompany accounts and transactions between the entities have been eliminated in consolidation.

The Company accounts for AON Partners, Partners of Maryland, AON Central Services, and MIBA in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidations. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a VIE. A VIE is broadly defined as an entity that has any of the following three characteristics: (i) the equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (ii) substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights; or (iii) the equity investors as a group lack any of the following, the power through voting or similar rights to direct the activities of the entity that most significantly impact the entity’s economic performance, the obligation to absorb the expected losses of the entity, or the right to receive the expected residual returns of the entity. The Company consolidates a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Management performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Changes in consolidation status are applied prospectively, if any. The Company has contractual relationships with AON Partners, Partners of Maryland and AON Central Services and the physician owners through management service agreements (“MSAs”) and other contractual agreements to provide all practice management services outside of medical services provided by the physicians. In addition, despite not being required by the contractual relationships, the Company regularly provides funding to support AON Partners and Partners of Maryland’s operations and acquisitions of physician practices. AON Central Services was formed July 15, 2022 and, effective January 1, 2023, entered into an agreement with AOMC to provide qualified non-clinical and non-medical employees to AOMC to support the operation of the physician practices. MIBA was established during the first quarter of 2023 for the purpose of developing intellectual property to synergize the collection, deidentification, and dissemination of the Company’s patient data for sale to external parties for research, development, and clinical decisions. In May 2023, the Company contributed $0.2 million for a 56% interest in the equity of MIBA. As of June 30, 2023, MIBA had no significant operating activity. The Company concluded that it had a controlling financial interest in MIBA and has consolidated the entity at June 30, 2023 and recorded the noncontrolling interest in equity.

The Company has concluded that AON Partners, Partners of Maryland, AON Central Services, and MIBA are all VIEs in which the Company has the characteristics of a controlling financial interest and is deemed to be the primary beneficiary. The variable interest subjects the Company to all potential losses in the entities and, therefore, requires the Company to consolidate the results of AON Partners, Partners of Maryland, AON Central Services, and MIBA in its condensed consolidated financial statements.

Refer to Note 3 for further information on the VIEs.

Accounting Estimates and Assumptions

Segments

Revenue Recognition

Revenue is recognized under Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”). The Company determines the transaction price based upon standard charges for goods and services with anticipated consideration due from patients, third-party payors (including health insurers and government agencies) and others. The Company’s revenue is primarily derived from patient service revenues, which encompass oncology services provided during patient visits and shipments of pharmacy prescriptions. Performance obligations for the Company’s services provided to patients and most procedures, are satisfied over the time of visit which is the same day services are performed. Performance obligations relating to pharmacy revenue are considered fully satisfied at a point in time upon the customer receiving delivery of the prescription. Accordingly, the Company does not anticipate a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and any such revenue recognized during the years ended December 31, 2022, 2021, and 2020 was immaterial.

The Company monitors revenue and receivables to prepare estimated contractual allowances for the anticipated differences between billed and reimbursed amounts. Payments from third-party payors and Government programs including Medicare and Medicaid may be subject to audit and other retrospective adjustments. Such amounts are considered on an estimated basis when net patient revenue is recorded and are adjusted as final adjustments are determined. For the years ended December 31, 2022, 2021, and 2020, such resulting historic adjustments have been immaterial to the consolidated financial statements.

The Company uses the cost-to-cost measure of progress for the Company’s contract because it best depicts the transfer of control to the customer as the performance obligation is fulfilled. For this method, the Company compares the contract costs incurred to date to the estimated total contract costs through completion. As part of the client proposal and contract negotiation process, the Company develops a detailed project budget for the direct costs and reimbursable costs based on the scope of the work, the complexity of the study, the geographical location involved and the Company’s historical experience. The estimated total contract costs at the project level are reviewed and revised periodically throughout the life of the contract, with adjustments to revenue resulting from such revisions being recorded on a cumulative basis in the period in which the revisions are identified. Contract costs consist primarily of direct labor and other reimbursable project-related costs such as travel, third-party vendor costs and investigator fees. The Company establishes pricing based on the Company’s internal pricing guidelines, discount agreements, if any, and negotiations with the client. The transaction price is the contractually defined amount. For the year ended December 31, 2022, the Company recognized revenue of $4.3 million related to the clinical trial which is included within other revenue.

The Company has a system and estimation process for recording Medicare net patient service revenue and estimated recoupments as it relates to value-based care (“VBC”) revenue included in patient service revenue on the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company’s VBC revenue is primarily generated through its participation in the CMS Oncology Care Model (“OCM”) which is an episode-based payment model to promote high-quality cancer care. Participants enter six-month episode periods, and the Company bills a monthly fee during the six-month period based on a fixed rate per participant per month and the total number of participants. Certain quality and compliance metrics are tracked as part of the program and submitted to CMS at the end of the episode period which may result in recoupment of funds. The Company estimates the recoupment amount by developing a recoupment percentage for each period based on historical known recoupment from CMS and applies the recoupment percentage against total fees for the period. Based on the estimate, the Company accrues a liability representing the expected final recoupments based on historical settlement trends.

Short-term Marketable Securities

Investments in marketable securities consist of corporate bonds and U.S. Treasury securities.

Short-term Marketable Securities

Equity Investment in Affiliate

In January 2023, the Company contributed noncash consideration, with a fair value of approximately $2.3 million, in return for a 49% equity interest in OCP Management Arizona, LLP. Investments in entities over which the Company has the ability to exercise significant influence but does not control the entity are accounted for using the equity method. Equity method investments are included with other assets in the condensed consolidated balance sheets. The carrying amount of the investment is adjusted to reflect the Company’s proportionate share of the net earnings or losses and reduced by any dividends received.

Noncontrolling Interests

The Company consolidates the results of entities in which it has a controlling financial interest. The noncontrolling interests and the portion of net income (loss) attributable to noncontrolling interests are immaterial.

Mezzanine Equity

Redeemable convertible preferred Class C Units are redeemable at the option of the holder, which is outside of the Company’s control. Accordingly, these units are considered contingently redeemable and are classified outside of members’ equity on the consolidated balance sheets.

Fair Value of Financial Instruments

Offering Costs

Professional Liability

Level 1

Inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.

Level 2

Level 3

Fair Value of Financial Instruments

Level 1

Inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.

Level 2

Level 3

Inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability.

Earnings Per Unit

Preferred Units and are a participating security as these units are entitled to a preferred return and participate with common units in undistributed earnings on a pro rata basis.

Earnings Per Unit

The Company follows the two-class method when computing net income (loss) per units as the Company has units that meet the definition of participating securities. The two-class method determines net income (loss) per unit for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common members for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Class B units do not have an obligation to share in losses, therefore in periods of net loss, the numerator is not impacted by Class B participation.

Recently Adopted/ Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Earnings (Loss) Per Unit (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Earnings (Loss) Per Unit

12. Earnings per Unit

The Company computes Earnings (Loss) Per Unit of Class A, Class A-1, Class B, and Class C Units using the two-class method. The Class A and A-1 Units are considered common units as they have substantially similar rights. The Class B Units represent profits interests and are a participating security as these units may share in distributions, subject to a Distribution Threshold, under certain circumstances as defined in the Company’s Operating Agreement. The Class C Units represent Preferred Units and are a participating security as these units are entitled to a preferred return and participate with common units in undistributed earnings on a pro rata basis. The Class A and Class A-1 Units were entitled to receive a preferred return through June 7, 2023. The Class C Units are entitled to receive preferred returns, so the first step in the Earnings (Loss) Per Unit calculation distributes those preferred amounts to Class A, Class A-1, and Class C Units to determine the undistributed net income (loss) for the period. After the preferred returns are satisfied, the undistributed earnings for each period are then allocated on a proportionate basis of ownership between the Class A, Class A-1, Class B, and Class C Units based on their contractual participation rights as if all earnings for the period had been distributed. The Class B and Class C Units do not share in losses with the Class A and Class A-1 Units, therefore losses are not allocated to the Class B and Class C Units.

The calculation of both basic and diluted earnings per unit for the periods indicated below was as follows:

	Six Months Ended June 30,
Numerator:	2023	2022
Net loss	$(11,591)	$(4,380)
Class A Units cumulative dividends	(391)	(421)
Class A-1 Units cumulative dividends	(577)	(645)
Class C Units cumulative dividends	(327)	—
Undistributed net loss	$(12,886)	$(5,446)
Allocation of undistributed net loss:
Class A Units	(11,743)	(4,976)
Class A-1 Units	(1,143)	(470)
Class B Units	—	—
Class C Units	—	—
Undistributed net loss	$(12,886)	$(5,446)
Net loss attributable to Class A Units:
Cumulative dividends	$391	$421
Undistributed net loss	(11,743)	(4,976)
Net loss attributable to Class A Units	$(11,352)	$(4,555)
Net loss attributable to Class A-1 Units:
Cumulative dividends	$577	$645
Undistributed net loss	(1,143)	(470)
Net income (loss) attributable to Class A-1 Units	$(566)	$175
Denominator:
Weighted average Class A common Units
outstanding - basic and diluted	7,725	7,725
Weighted average Class A-1 Units
outstanding - basic and diluted	752	730
Loss per Class A Unit - basic and diluted	$(1,469)	$(590)
Earnings (loss) per Class A-1 Unit - basic and diluted	$(753)	$239

The total number of shares that are potentially dilutive is 2,837 shares of the Class C Units for the six months ended June 30, 2023. The Class C Units are convertible to Class A Units.

17. Earnings (Loss) Per Unit

The Company computes Earnings (Loss) Per Unit of Class A, Class A-1 and Class B Units using the two-class method. The Class A and A-1 Units are considered common units as they have substantially similar rights. The Class B Units represent profits interests and are a participating security as these units may share in distributions, subject to a Distribution Threshold, under certain circumstances as defined in the Company’s Operating Agreement. The Class A and Class A-1 Units are entitled to receive preferred returns, so the first step in the Earnings (Loss) Per Unit calculation distributes those preferred amounts to Class A and Class A-1 Units to determine the undistributed net income (loss) for the period. After the preferred returns are satisfied, the undistributed earnings for each period are then allocated on a proportionate basis of ownership between the Class A, Class A-1 and Class B Units based on their contractual participation rights as if all earnings for the period had been distributed. The Class B Units do not share in losses with the Class A and Class A-1 Units based on their distribution threshold, therefore losses are not allocated to the Class B Units.

The calculation of both basic and diluted earnings (loss) per unit for the periods indicated below was as follows:

	Year Ended December 31,
	2022	2021	2020
Numerator:
Net income (loss)	$2,589	$(105)	$21,951
Class A cumulative dividends	(855)	(780)	(722)
Class A-1 cumulative dividends	(1,299)	(1,240)	(1,000)
Undistributed net income (loss)	$435	$(2,125)	$20,229
Allocation of undistributed net income (loss):
Class A units	324	(1,942)	16,423
Class A-1 units	31	(183)	1,284
Class B units	80	—	2,522
Undistributed net income (loss)	$435	$(2,125)	$20,229

	Year Ended December 31,
	2022	2021	2020
Net income (loss) attributable to Class A units:
Cumulative dividends	$855	$780	$722
Undistributed net income (loss)	324	(1,942)	16,423
Net income (loss) attributable to Class A units	$1,179	$(1,162)	$17,145
Net income (loss) attributable to Class A-1 units:
Cumulative dividends	$1,299	$1,240	$1,000
Undistributed net income (loss)	31	(183)	1,284
Net income attributable to Class A-1 units	$1,330	$1,057	$2,284
Denominator:
Weighted average Class A common units outstanding – basic and diluted	7,725	7,725	7,725
Weighted average Class A-1 common units outstanding – basic and diluted	730	730	604
Earnings (loss) per Class A unit – basic and diluted	$153	$(150)	$2,219
Earnings per Class A-1 unit – basic and diluted	$1,821	$1,447	$3,782

Long-term Debt (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

7. Long-term Debt

Debt consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
PNC Facility	$81,250	$81,250
Total	81,250	81,250
Unamortized debt issuance costs	(1,042)	(949)
Total debt	$80,208	$80,301

Credit Facilities

On April 30, 2021, the Company entered into a Loan Facility with PNC (“PNC Loan Facility”) collateralized by the Company’s assets and outstanding patient accounts receivable. The PNC Loan Facility is guaranteed on a limited basis by the Company and shareholder of AON Partners and Partners of Maryland. $34.6 million of proceeds from the PNC Loan Facility was used to pay off the Company’s previous term loans and revolver with Truist Bank. The remaining funds were made available for working capital and acquisition of additional physician practices.

The PNC Loan Facility is interest-only with total principal due at maturity on April 30, 2024. Interest originally accrued at one-month LIBOR or an alternate base rate plus 1.45%. The maximum balance of the PNC Loan Facility (“Borrowing Base”) is limited to the lesser of the Facility Limit ($65.0 million) or the fair value of the Company’s patient accounts receivable. The Company must maintain a balance of the lesser of the Borrowing Base or 65% of the Facility Limit in the first year and 75% of the Facility Limit in subsequent years (“minimum funding threshold”). The Company can repay the PNC Loan Facility up to the minimum funding threshold at any time without penalty. In accordance with the PNC Loan Facility, the Company pledged $10.0 million of collateral as restricted cash to be released quarterly in increments of $2.5 million. The restricted cash was fully released as of June 30, 2023 and December 31, 2022.

On April 30, 2021, the Company entered into a $5.0 million revolving line of credit agreement (“PNC Line of Credit”). The PNC Line of Credit has an expiration date of April 30, 2024 and originally bore interest at a rate per annum equal to the sum of the daily LIBOR rate plus 1.65% or an alternate base rate plus 0.65% and is due on the first day of each month beginning June 1, 2021. Any outstanding principal and accrued interest will be due on the expiration date. Beginning July 1, 2021, quarterly bank fees equal to 1.65% per day per annum are due in arrears and will continue on the first day of each quarter thereafter. All debt related to the PNC Line of Credit is collateralized by the Company’s assets. As of June 30, 2023 and December 31 2022, no draws had been made on the PNC Line of Credit. The Company is also subject to a 0.20% unused line fee calculated per annum on the unused balance of the PNC Line of Credit.

On July 29, 2021, the Company amended the PNC Loan Facility increasing the Facility Limit to $75.0 million. On February 14, 2022, the Company further amended the PNC Loan Facility and Line of Credit agreements. The primary changes included an increase of the Facility limit from $75.0 million to $125.0 million, an increase of the PNC Line of Credit availability from $5.0 million to $10.0 million, interest charges to be calculated based on the Bloomberg Short-Term Bank Yield Index plus 1.65% and certain financial covenants. As part of the amendment, the Company drew an additional $16.3 million in proceeds under the Loan Facility. On August 15, 2022, the PNC Loan Facility and Line of Credit agreements were amended again to reduce the availability under the PNC Line of Credit from $10.0 million to $1.0 million.

Effective November 23, 2022, the Company entered into Waiver and Amendment No. 6 (“Waiver and Amendment”) under its PNC Loan Facility as the Company was not in compliance with the Delinquency Ratio financial covenant for the period ending October 31, 2022 and the requirement to provide certain annual financial statements. The Waiver and Amendment waives each event of default and also revised future delinquency percentages and financial statement requirements.

On June 30, 2023, the Company entered into Amendment No. 7 (“Amendment 7”) to its PNC Loan Facility which extended the maturity date from April 30, 2024 to June 30, 2026. In connection with Amendment 7, the Company paid additional debt issuance costs of $0.4 million which will be amortized over the revised remaining life of the Loan Facility. In addition, Amendment 7 revised the definition of the minimum funding threshold to limit the threshold multiplier to 65% of the Facility Limit.

The PNC Loan Facility and PNC Line of Credit nonfinancial covenants include restrictions related to unpermitted property liens and the requirement of audited financial statements. Both agreements also contain several financial covenants, including the following ratios: accounts receivable default, delinquency, dilution, days sales outstanding, leverage, and fixed charge coverage. As of June 30, 2023, the Company was in compliance with all financial and nonfinancial debt covenants as required by both loan agreements.

10. Long-term Debt

Debt consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
PNC Facility	$81,250	$65,000
Total	81,250	65,000
Unamortized debt issuance costs	(949)	(1,306)
Total debt	$80,301	$63,694

Credit Facilities

Truist Term Loans and Revolver

In connection with the acquisition of various physician practice assets, the Company entered into Truist Term Loans, all of which have identical underlying terms and provisions. The Term Loans are seven-year loans and require interest only payments for the first two years of the term. For the remaining five years, monthly principal and interest payments are required in amounts sufficient to fully amortize the principal at maturity. The Truist Term Loans may be prepaid in whole or in part at any time without penalty.

On August 31, 2018, the Company entered into a one-year revolving line of credit agreement (“Truist Revolver”) for $10.0 million maturing on August 31, 2019. On April 22, 2019, the Company executed the first amendment to the Truist Revolver which increased the revolving credit limit to $27.0 million and extended the maturity date to April 20, 2020. The Truist Revolver requires monthly interest only payments with the outstanding principal balance due at maturity. The original base interest rate was the one-month LIBOR rate plus an applicable margin of 1.30%.

The Truist Term Loans and Revolver were collateralized by substantially all assets of the Company and guaranteed on a limited basis by the Class A members of the Company and shareholder of AON Partners and Partners of Maryland. In addition, the Company was required to maintain certain financial covenants under these loan agreements relating to debt service coverage and levels of tangible net worth.

On April 20, 2020, the Company modified the arrangement and received an extension of the Truist Revolver from April 20, 2020 to June 4, 2020. On June 4, 2020, the Company received an extension of the Truist Revolver from June 4, 2020 to July 4, 2020. On July 4, 2020, the Company received an extension of the Truist Revolver from July 4, 2020 to September 4, 2020.

On September 4, 2020, the Company modified the arrangement and entered into an Amended and Restated Loan Agreement (“Restated Truist Revolver”), which reduced the bank’s commitment from $27.0 million to $10.0 million, extended the maturity date to September 3, 2021 and increased the interest rate on all amounts outstanding under the Revolver to the greater of LIBOR plus an applicable margin of 3.60% or 4.35%. All other provisions and warranties of the credit agreement remained unchanged. There were no borrowings outstanding at December 31, 2021.

PNC Loan Facility

On April 30, 2021 the Company entered into a Loan Facility with PNC (“PNC Loan Facility”) collateralized by the Company’s assets and outstanding patient accounts receivable. The PNC Loan Facility is guaranteed on a limited basis by the Company and shareholder of AON Partners and Partners of Maryland. $34.6 million of proceeds from the PNC Loan Facility was used to pay off the Truist Term Loans and Truist Revolver. The remaining funds were made available for working capital and acquisition of additional physician practices.

The PNC Loan Facility is interest-only with total principal due at maturity on April 30, 2024. Interest accrues at one-month LIBOR or an alternate base rate plus 1.45%. The maximum balance of the PNC Loan Facility (“Borrowing Base”) is limited to the lesser of the Facility Limit ($65.0 million) or the fair value of the Company’s patient accounts receivable. The Company must maintain a balance of the lesser of the Borrowing Base or 65% of the Facility Limit in the first year and 75% of the Facility Limit in subsequent years (“minimum funding threshold”). The Company can repay the PNC Loan Facility up to the minimum funding threshold at any time without penalty. In accordance with the PNC Loan Facility, the Company pledged $10.0 million of collateral as restricted cash to be released quarterly in increments of $2.5 million. The Company had $5.0 million of restricted cash related to the Loan facility as of December 31, 2021. The restricted cash was fully released as of December 31, 2022.

On April 30, 2021, the Company entered into a $5.0 million revolving line of credit agreement (“PNC Line of Credit”). The PNC Line of Credit has an expiration date of April 30, 2024 and bears interest at a rate per annum equal to the sum of the daily LIBOR rate plus 1.65% or an alternate base rate plus .65% and is due on the first day of each month beginning June 1, 2021. Any outstanding principal and accrued interest will be due on the expiration date. Beginning July 1, 2021, quarterly bank fees equal to 1.65% per day per annum will be due in arrears and will continue on the first day of each quarter thereafter. All debt related to the PNC Line of Credit is collateralized by the Company’s assets. The Company is also subject to 0.20% unused line fee calculated per annum on the unused balance of the PNC Line of Credit.

On July 29, 2021, the Company amended the PNC Loan Facility increasing the Facility Limit to $75.0 million. On February 14, 2022, the Company further amended the PNC Facility and PNC Line of Credit agreements. The primary changes included an increase of the PNC Facility limit from $75.0 million to $125.0 million, an increase of the PNC Line of Credit availability from $5.0 million to $10.0 million, interest charges to be calculated based on the Bloomberg Short-Term Bank Yield Index plus 1.65% and certain financial covenants. As part of the amendment, the Company drew an additional $16.3 million in proceeds under the PNC Loan Facility. On August 15, 2022, the PNC Loan Facility and PNC Line of Credit agreements were amended again to reduce the availability under the PNC Line of Credit from $10.0 million to $1.0 million. As of December 31, 2022 and 2021, no draws had been made on the PNC Line of Credit.

Effective November 23, 2022, the Company entered into Waiver and Amendment No. 6 (“Waiver and Amendment”) under its PNC Facility Loan as the Company was not in compliance with the Delinquency Ratio financial covenant for the period ending October 31, 2022 and the requirement to provide certain annual financial statements. The Waiver and Amendment waives each event of default and also revised future delinquency percentages and financial statement requirements.

The PNC Loan Facility and PNC Line of Credit nonfinancial covenants include restrictions related to unpermitted property liens and the requirement of audited financial statements. Both agreements also contain several financial covenants, including the following ratios: accounts receivable default, delinquency, dilution, days sales outstanding, leverage, and fixed charge coverage. As of December 31, 2022, the Company was in compliance with all financial and nonfinancial debt covenants as required by both loan agreements.

The Company paid approximately $0.3 million and $1.1 million, respectively in debt issuance costs in connection with the Loan Facility in 2022 and 2021 which are being amortized to interest expense on a straight-line basis over the life of the various agreements. The Company recorded a loss on extinguishment of the debt issuance costs on the Truist Term Loans and Revolver in the amount of approximately $0.1 million in 2021.

Interest expense on long-term debt in 2022, 2021, and 2020, including amortization of debt issuance costs, was $3.4 million, $1.4 million, and $1.1 million, respectively.

Marketable Securities (Q2)

6 Months Ended

Jun. 30, 2023

Marketable Securities [Abstract]

Marketable Securities

5. Marketable Securities

The following table summarizes the Company’s marketable securities financial assets that are measured at fair value on a recurring basis:

	As of June 30, 2023
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$172	$—	$—	$172
Marketable securities
Level 2:
Corporate bonds	7,597	29	(83)	7,543
U.S. Treasury securities	2,416	28	(3)	2,441
Level 2 total	10,013	57	(86)	9,984
Total	$10,185	$57	$(86)	$10,156

	As of December 31, 2022
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$109	$—	$—	$109
Marketable securities
Level 2:
Corporate bonds	7,742	6	(125)	7,623
U.S. Treasury securities	2,226	6	(4)	2,228
Level 2 total	9,968	12	(129)	9,851
Total	$10,077	$12	$(129)	$9,960

(1)	Included in cash and cash equivalents in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022.

The Company uses quoted prices in active markets for identical assets to determine the fair value of its Level 1 investments. The fair value of the Company’s Level 2 investments is determined using pricing based on quoted market prices or alternative market observable inputs.

The fair value of the Company’s marketable securities as of June 30, 2023, by remaining contractual maturities, were as follows:

	Corporate Bonds	U.S. Treasuries	Total
Due in one year or less	$5,940	$1,672	$7,612
Due in one to five years	1,603	769	2,372
Total	$7,543	$2,441	$9,984

Summary of Significant Accounting Policies and Basis of Presentation, Revenue Recognition (FY) (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Apr. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue Recognition [Abstract]
Revenue		$ 618,698	$ 551,948	$ 1,149,670	$ 943,747	$ 724,743
Revenue recognized					3,700	13,500
Cash received from government stimulus programs	$ 24,000
Advances from government grants	$ 17,200
Outstanding liability				0	3,742
Services for Patient Visits [Member]
Revenue Recognition [Abstract]
Revenue		439,200	392,800	818,500	683,000	542,000
Other Revenue [Member]
Revenue Recognition [Abstract]
Revenue		$ 5,212	$ 5,053	11,738	5,505	3,224
Revenue recognized				4,300
HHS Grant Income [Member]
Revenue Recognition [Abstract]
Revenue				0	$ 0	$ 6,841
Revenue recognized				$ 6,800

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

Basis of Presentation and Significant Accounting Policies, Segments (Q2) (Details) - Segment	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Segments [Abstract]
Number of operating segments	1	1
Number of reportable segments	1	1

Variable Interest Entities (Q2) (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

May 31, 2023

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

$ 72,708

$ 26,926

$ 27,354

145,159

136,098

111,226

$ 80,400

41,886

36,476

34,529

3,398

2,670

3,277

1,230

1,112

32,929

28,201

25,078

8,311

5,199

3,111

397,960

326,228

248,298

122,168

^[1]

122,168

^[1]

106,495

^[1],[2]

92,908

^[2]

10,176

7,466

8,901

22,873

17,800

13,792

8,245

5,749

5,717

AON Partners, Partners of Maryland, AON Central Services, and MIBA [Member]

290,310

264,212

$ 188,754

24,756

26,844

145,159

136,098

41,886

36,476

679

846

180

32,861

28,139

1,817

1,489

247,338

230,072

120,076

102,783

13,745

6,021

16,995

15,926

Due to AON and subsidiaries, net

369

452

126,447

128,204

Physician Owners [Member]

$ 277,632

$ 253,386

Information of Variable Interest Entity [Abstract]

Percentage of ownership

80.00%

AON [Member]

Information of Variable Interest Entity [Abstract]

Percentage of ownership

20.00%

MIBA [Member]

Information of Variable Interest Entity [Abstract]

Percentage of ownership

56.00%

Amount of investment to acquire equity interest

$ 200

[1]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively

Equity, Option to Purchase Additional Shares (Q2) (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Jun. 07, 2023	Jun. 30, 2023
Level 3 [Member]
Estimated Fair Value Assumptions [Abstract]
Expected annual dividend yield		0.00%
Expected volatility		65.00%
Risk-free rate of return		5.40%
Expected option term (years)		3 months
Class C Units [Member] \| GEF AON Holdings Corp. [Member]
Option to Purchase Additional Shares [Abstract]
Additional number of shares issuable (in shares)	378
Purchase price per share (in dollars per share)	$ 26,423
Fair value of Option Feature	$ 1.4

Summary of Significant Accounting Policies and Basis of Presentation, Restricted Cash (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash [Abstract]
Cash and cash equivalents	$ 72,708	$ 26,926		$ 27,354
Restricted cash		0		5,000
Total cash, cash equivalents and restricted cash shown in the statements of cash flow	$ 72,708	$ 26,926	$ 26,093	$ 32,354	$ 42,842	$ 4,013

Other Receivables (FY)

12 Months Ended

Dec. 31, 2022

Other Receivables [Abstract]

7. Other Receivables

Other receivables consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Rebates receivable	$27,955	$24,950
Other	246	128
Total other receivables	$28,201	$25,078

Long-term Debt (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

7. Long-term Debt

Debt consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
PNC Facility	$81,250	$81,250
Total	81,250	81,250
Unamortized debt issuance costs	(1,042)	(949)
Total debt	$80,208	$80,301

Credit Facilities

10. Long-term Debt

Debt consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
PNC Facility	$81,250	$65,000
Total	81,250	65,000
Unamortized debt issuance costs	(949)	(1,306)
Total debt	$80,301	$63,694

Credit Facilities

Truist Term Loans and Revolver

PNC Loan Facility

On April 30, 2021, the Company entered into a $5.0 million revolving line of credit agreement (“PNC Line of Credit”). The PNC Line of Credit has an expiration date of April 30, 2024 and bears interest at a rate per annum equal to the sum of the daily LIBOR rate plus 1.65% or an alternate base rate plus .65% and is due on the first day of each month beginning June 1, 2021. Any outstanding principal and accrued interest will be due on the expiration date. Beginning July 1, 2021, quarterly bank fees equal to 1.65% per day per annum will be due in arrears and will continue on the first day of each quarter thereafter. All debt related to the PNC Line of Credit is collateralized by the Company’s assets. The Company is also subject to 0.20% unused line fee calculated per annum on the unused balance of the PNC Line of Credit.

The PNC Loan Facility and PNC Line of Credit nonfinancial covenants include restrictions related to unpermitted property liens and the requirement of audited financial statements. Both agreements also contain several financial covenants, including the following ratios: accounts receivable default, delinquency, dilution, days sales outstanding, leverage, and fixed charge coverage. As of December 31, 2022, the Company was in compliance with all financial and nonfinancial debt covenants as required by both loan agreements.

Interest expense on long-term debt in 2022, 2021, and 2020, including amortization of debt issuance costs, was $3.4 million, $1.4 million, and $1.1 million, respectively.

Earnings (Loss) Per Unit (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Basic and Diluted Earnings (Loss) Per Unit

The calculation of both basic and diluted earnings per unit for the periods indicated below was as follows:

	Six Months Ended June 30,
Numerator:	2023	2022
Net loss	$(11,591)	$(4,380)
Class A Units cumulative dividends	(391)	(421)
Class A-1 Units cumulative dividends	(577)	(645)
Class C Units cumulative dividends	(327)	—
Undistributed net loss	$(12,886)	$(5,446)
Allocation of undistributed net loss:
Class A Units	(11,743)	(4,976)
Class A-1 Units	(1,143)	(470)
Class B Units	—	—
Class C Units	—	—
Undistributed net loss	$(12,886)	$(5,446)
Net loss attributable to Class A Units:
Cumulative dividends	$391	$421
Undistributed net loss	(11,743)	(4,976)
Net loss attributable to Class A Units	$(11,352)	$(4,555)
Net loss attributable to Class A-1 Units:
Cumulative dividends	$577	$645
Undistributed net loss	(1,143)	(470)
Net income (loss) attributable to Class A-1 Units	$(566)	$175
Denominator:
Weighted average Class A common Units
outstanding - basic and diluted	7,725	7,725
Weighted average Class A-1 Units
outstanding - basic and diluted	752	730
Loss per Class A Unit - basic and diluted	$(1,469)	$(590)
Earnings (loss) per Class A-1 Unit - basic and diluted	$(753)	$239

The calculation of both basic and diluted earnings (loss) per unit for the periods indicated below was as follows:

	Year Ended December 31,
	2022	2021	2020
Numerator:
Net income (loss)	$2,589	$(105)	$21,951
Class A cumulative dividends	(855)	(780)	(722)
Class A-1 cumulative dividends	(1,299)	(1,240)	(1,000)
Undistributed net income (loss)	$435	$(2,125)	$20,229
Allocation of undistributed net income (loss):
Class A units	324	(1,942)	16,423
Class A-1 units	31	(183)	1,284
Class B units	80	—	2,522
Undistributed net income (loss)	$435	$(2,125)	$20,229

	Year Ended December 31,
	2022	2021	2020
Net income (loss) attributable to Class A units:
Cumulative dividends	$855	$780	$722
Undistributed net income (loss)	324	(1,942)	16,423
Net income (loss) attributable to Class A units	$1,179	$(1,162)	$17,145
Net income (loss) attributable to Class A-1 units:
Cumulative dividends	$1,299	$1,240	$1,000
Undistributed net income (loss)	31	(183)	1,284
Net income attributable to Class A-1 units	$1,330	$1,057	$2,284
Denominator:
Weighted average Class A common units outstanding – basic and diluted	7,725	7,725	7,725
Weighted average Class A-1 common units outstanding – basic and diluted	730	730	604
Earnings (loss) per Class A unit – basic and diluted	$153	$(150)	$2,219
Earnings per Class A-1 unit – basic and diluted	$1,821	$1,447	$3,782

Summary of Significant Accounting Policies and Basis of Presentation, Goodwill (FY) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill [Abstract]
Impairment of goodwill	$ 0

Subsequent Events (FY) (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
Subsequent Events (FY) (Details) - USD ($) $ in Thousands	Feb. 23, 2023	Jun. 30, 2023	Dec. 31, 2020
Subsequent Event [Abstract]
Number of new issued shares value		$ 0	$ 28,500
Subsequent Event [Member] \| Investor [Member] \| Convertible Preferred Stock [Member] \| Minimum [Member]
Subsequent Event [Abstract]
Number of new issued shares value	$ 65,000

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities

Earnings per Unit (Q2) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator [Abstract]
Net income (loss)	$ (11,591)	$ (4,380)	$ 2,589	$ (105)	$ 21,951
Undistributed net loss	(12,886)	(5,446)	435	(2,125)	20,229
Class A Units [Member]
Numerator [Abstract]
Net income (loss)	(11,352)	(4,555)	1,179	(1,162)	17,145
Cumulative dividends	391	421	855	780	722
Undistributed net loss	$ (11,743)	$ (4,976)	$ 324	$ (1,942)	$ 16,423
Denominator [Abstract]
Weighted average units outstanding, basic (in shares)	7,725	7,725	7,725	7,725	7,725
Weighted average units outstanding, diluted (in shares)	7,725	7,725	7,725	7,725	7,725
Loss per unit, basic (in dollars per share)	$ (1,469)	$ (590)	$ 153	$ (150)	$ 2,219
Loss per unit, diluted (in dollars per share)	$ (1,469)	$ (590)	$ 153	$ (150)	$ 2,219
Class A-1 Units [Member]
Numerator [Abstract]
Net income (loss)	$ (566)	$ 175	$ 1,330	$ 1,057	$ 2,284
Cumulative dividends	577	645	1,299	1,240	1,000
Undistributed net loss	$ (1,143)	$ (470)	$ 31	$ (183)	$ 1,284
Denominator [Abstract]
Weighted average units outstanding, basic (in shares)	752	730	730	730	604
Weighted average units outstanding, diluted (in shares)	752	730	730	730	604
Loss per unit, basic (in dollars per share)	$ (753)	$ 239	$ 1,821	$ 1,447	$ 3,782
Loss per unit, diluted (in dollars per share)	$ (753)	$ 239	$ 1,821	$ 1,447	$ 3,782
Class B Units [Member]
Numerator [Abstract]
Undistributed net loss	$ 0	$ 0	$ 80	$ 0	$ 2,522
Class C Units [Member]
Numerator [Abstract]
Net income (loss)	327	0
Cumulative dividends	327	0
Undistributed net loss	$ 0	$ 0
Denominator [Abstract]
Number of potentially dilutive shares (in shares)	2,837

CONSOLIDATED STATEMENTS OF CASH FLOWS (FY) (Parenthetical) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Amortization of right-of-use assets

$ 4,309

^[1]

$ 5,143

^[1]

$ 10,364

^[2]

$ 0

^[2]

$ 0

^[2]

(5,410)

^[3]

3,829

^[3]

(1,947)

^[4]

(10,260)

^[4]

(6,272)

^[4]

Operating lease liability

15,673

^[5]

5,532

^[5]

14,077

^[6]

21,679

^[6]

34,000

^[6]

(3,784)

^[7]

(3,842)

^[7]

(10,485)

^[8]

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities

Amortization of right-of-use assets

1,062

1,019

2,059

(5,140)

3,637

(1,850)

(11,848)

(6,322)

Operating lease liability

15,718

6,719

13,314

$ 23,309

$ 37,744

$ (1,303)

$ (1,284)

$ (1,995)

[1]	Includes related party amortization of operating right-of-use assets of $1,062 and $1,019 for the six months ended June 30, 2023 and 2022, respectively.
[2]	Includes related party amortization of operating right-of-use assets of $2,059 for the year ended December 31, 2022
[3]	Includes changes in related party balances of ($5,140) and $3,637 for the six months ended June 30, 2023 and 2022, respectively
[4]	Includes changes in related party balances of ($1,850), ($11,848) , and ($6,322) for the years ended December 31, 2022, 2021, and 2020, respectively
[5]	Includes changes in related party balances of $15,718 and $6,719 for the six months ended June 30, 2023 and 2022, respectively.
[6]	Includes changes in related party balances of $13,314, $23,309, and $37,744 for the years ended December 31, 2022, 2021 and 2020, respectively
[7]	Includes changes in related party balances of ($1,303) and ($1,284) for the six months ended June 30, 2023 and 2022, respectively.
[8]	Includes changes in related party balance of ($1,995) for the year ended December 31, 2022

Variable Interest Entities (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Carrying Amount of Assets and Liabilities

The assets of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Assets
Cash and cash equivalents	$24,756	$26,844
Accounts receivable	145,159	136,098
Inventories	41,886	36,476
Prepaid expenses and other current assets	679	846
Goodwill and intangibles, net	180	180
Other receivables	32,861	28,139
Other assets	1,817	1,489
Total assets	$247,338	$230,072

The liabilities of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Liabilities
Accounts payable	$120,076	$102,783
Accrued compensation and benefits	13,745	6,021
Accrued other	16,995	15,926
Other long-term liabilities	369	452
Due to AON and subsidiaries, net	126,447	128,204
Total liabilities	$277,632	$253,386

The assets of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Assets	2022	2021
Cash and cash equivalents	$26,844	$24,074
Accounts receivable	136,098	111,183
Inventories	36,476	34,529
Property and equipment, net	—	108
Prepaid expenses and other current assets	846	374
Goodwill and intangibles, net	180	180
Other receivables	28,139	24,950
Other assets	1,489	1,241
Total assets	$230,072	$196,639

The liabilities of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Liabilities	2022	2021
Accounts payable	$102,783	$89,275
Accrued compensation and benefits	6,021	6,504
Accrued other	15,926	9,346
Medicare advance payment	—	3,742
Other long-term liabilities	452	81
Due to AON and subsidiaries, net	128,204	102,090
Total liabilities	$253,386	$211,038

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

Leases, Components of Lease Costs (FY) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Components of Lease Costs [Abstract]
Operating lease costs	$ 5,630	$ 6,136	$ 12,465
Finance lease costs [Abstract]
Amortization of finance lease right-of-use assets	233	228	523
Interest on finance lease liabilities (included in interest expense)	44	41	79
Variable lease costs	1,162	1,370	2,737
Total lease costs	$ 7,069	$ 7,775	$ 15,804

Equity, Anti-Dilution Feature (Q2) (Details) - USD ($) $ in Thousands		1 Months Ended	6 Months Ended	12 Months Ended
	Jun. 07, 2023	Mar. 31, 2020	Jun. 30, 2023	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021
Class A-1 Anti-Dilution Feature [Abstract]
Accrued other			$ 22,873		$ 17,800	$ 13,792
Number of new issued shares value			0	$ 28,500
Class A-1 Units [Member]
Class A-1 Anti-Dilution Feature [Abstract]
Consideration for aditional shares issuable			0
Accrued other			2,600
Additional shares issued (in shares)	174
Number of new issued shares value	$ 2,500	$ 28,500
Class A-1 Units [Member] \| Other (Expense) Income [Member]
Class A-1 Anti-Dilution Feature [Abstract]
Loss on derivative			$ 5,100

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

Variable Interest Entities (FY) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

$ 72,708

$ 26,926

$ 27,354

145,159

136,098

111,226

$ 80,400

41,886

36,476

34,529

35,672

31,980

32,648

3,398

2,670

3,277

1,230

1,112

32,929

28,201

25,078

8,311

5,199

3,111

397,960

326,228

248,298

122,168

^[1]

106,495

^[1],[2]

92,908

^[2]

10,176

7,466

8,901

22,873

17,800

13,792

3,742

8,245

5,749

5,717

AON Partners and Partners of Maryland [Member]

$ 290,310

264,212

188,754

26,844

24,074

136,098

111,183

36,476

34,529

108

846

374

180

28,139

24,950

1,489

1,241

230,072

196,639

102,783

89,275

6,021

6,504

15,926

9,346

3,742

Due to AON and subsidiaries, net

452

128,204

102,090

Supplemental Condensed Balance Sheet Information [Abstract]

$ 253,386

$ 211,038

[1]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively

Subsequent Events (FY)	6 Months Ended	12 Months Ended
Subsequent Events (FY)	Jun. 30, 2023	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events and Other Matters	13. Subsequent Events and Other Matters In preparing these condensed consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through September 15, 2023, the date the condensed consolidated financial statements were available to be issued. In July and August of 2023, the Company granted an additional 64 Class B-1 Units to certain employees under the 2017 Profits Interest Plan, for a total number of 415 Class B-1 Units granted.	18. Subsequent Events The Company has evaluated subsequent events through April 27, 2023, the date these consolidated financial statements were available to be issued and has determined that the following subsequent event requires disclosure in the consolidated financial statements. On February 28, 2023, AON entered into a term sheet with a third-party institutional investor contemplating, on a non-binding basis, an aggregate investment by such investor of at least $65.0 million in the form of newly issued convertible preferred securities, to be consummated concurrently with the closing of the DTOC Transaction.

Supplemental Condensed Balance Sheet Information (Q2)

6 Months Ended

Jun. 30, 2023

Supplemental Condensed Balance Sheet Information (Q2) [Text Block]

6. Supplemental Condensed Balance Sheet Information

Other receivables

Other receivables consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Rebates receivable	$32,771	$27,955
Other	158	246
Total other receivables	$32,929	$28,201

Inventory

Inventory consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Intravenous drugs	$29,599	$25,674
Oral pharmaceuticals	12,287	10,802
Total inventories	$41,886	$36,476

Property and Equipment, net

Property and equipment, net consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Leasehold improvements	$29,794	$26,076
Furniture, fixtures and equipment	2,700	2,669
Medical equipment	12,443	11,003
Computer equipment	3,271	3,115
Signs	147	129
Automobiles	59	69
Software	4,331	4,834
Construction-in-progress	4,173	1,433
	56,918	49,328
Accumulated depreciation and amortization	(21,246)	(17,348)
Property and equipment, net	$35,672	$31,980

Accrued Other

Accrued other consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Refund liability	$15,683	$14,544
Class A-1 derivative liability	2,526	—
Class C derivative liability	1,349	—
Deferred social security taxes - COVID	—	378
Current portion of finance lease liabilities	623	425
Other	2,692	2,453
Total accrued other	$22,873	$17,800

Professional Liability Insurance (FY)	12 Months Ended
Professional Liability Insurance (FY)	Dec. 31, 2022
Professional Liability Insurance [Abstract]
Professional Liability Insurance	16. Professional Liability Insurance The Company has purchased claims-made professional liability insurance coverage through December 31, 2022 and 2021, covering up to $1.0 million per incident and $1.0 million in annual aggregate for each physician and covering up to $2.0 million per incident and $4.0 million in the aggregate at the entity level. The policy does not require a deductible per incident. As of December 31, 2022 and 2021, the gross malpractice insurance recovery balance was $2.2 million and $1.0 million, respectively, and the malpractice insurance reserve liability balance totaled $3.7 million and $2.2 million, respectively. The Company has a net tail liability of approximately $1.6 million and $1.1 million, respectively, for claims arising from incidents prior to December 31, 2022 and 2021 that are not yet reported as of December 31, 2022 and 2021.

Fair Value Measurements, Remaining Contractual Maturities (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Marketable Securities [Member]
Remaining Contractual Maturities [Abstract]
Due within one year	$ 7,612	$ 4,733
Due within one to five years	2,372	5,118
Estimated Fair Value	9,984	9,851
Corporate Bonds [Member]
Remaining Contractual Maturities [Abstract]
Due within one year	5,940	3,660
Due within one to five years	1,603	3,963
Estimated Fair Value	7,543	7,623
U.S. Treasury Securities [Member]
Remaining Contractual Maturities [Abstract]
Due within one year	1,672	1,073
Due within one to five years	769	1,155
Estimated Fair Value	$ 2,441	$ 2,228

Business Combinations, 2022 Acquisitions (FY) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022
Northern Arizona Hematology and Oncology [Member] \| Maximum [Member]
Asset Acquisitions [Abstract]
Aggregate purchase price	$ 0.1	$ 0.1

Business Combinations (FY) (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Assets Acquired and Consideration Transferred

In connection with each of the Transactions, the Company acquired 100% of both the clinical and nonclinical assets of the respective seller. The clinical assets, acquired by AON Partners, primarily consist of medical supplies and drugs. Nonclinical assets, acquired by AOMC, primarily consist of tangible fixed assets and equipment. The following table summarizes the amounts of the assets acquired and consideration transferred recognized on respective acquisition dates disclosed in Note 1, the accounting for which is completed as of December 31, 2022. For the table below, the Company has presented the acquired locations collectively.

			2021 Acquired Locations
Purchase consideration
Cash transferred upon closing			$3,215
Assumed capital lease liabilities			1,097
Total consideration transferred			4,312
Net assets acquired
Inventories			2,211
Other assets			180
Property and equipment			1,371
Total net assets acquired			3,762
Amount assigned to goodwill			$550

In connection with each of the Transactions, the Company acquired 100% of both the clinical and nonclinical assets of the respective seller. The clinical assets, acquired by AON Partners, primarily consist of medical supplies and drugs. Nonclinical assets, acquired by AOMC, primarily consist of tangible fixed assets and equipment. The following table summarizes the amounts of the assets acquired and consideration transferred recognized on respective acquisition dates disclosed in Note 1. For the table below, the Company has presented the acquired locations collectively.

			2020 Acquired Locations
Purchase consideration
Cash transferred upon closing			$435
Issuance of note payable			621
Non-cash settlement			654
Total consideration transferred			1,710
Net assets acquired
Inventories			834
Property and equipment			360
Prepaids			16
Total net assets acquired			1,210
Amount assigned to goodwill			$500

Unaudited Pro forma Consolidated Financial Information

The unaudited pro forma consolidated financial information is provided for informational purposes only and is not necessarily, and should not be assumed to be, an indication of the results that would have been achieved had the transactions been completed as of the dates indicated or that may be achieved in the future. The Company did not have any material, nonrecurring pro forma adjustments directly attributable to the business combinations included in the reported pro forma revenue and net income.

	Pro Forma
	Year Ended December 31,
	2022	2021	2020
Revenue	$1,149,670	$1,033,187	$951,182
Net income	$2,589	$1,289	$22,381

Business Combinations (FY), Unaudited Pro forma Consolidated Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2023
Unaudited Pro forma Consolidated Financial Information [Abstract]
Revenue	$ 1,149,670	$ 1,033,187	$ 951,182
Net income	2,589	1,289	22,381
Revenues	22,900	55,700	$ 63,100
Liabilities recorded amount related to unwind agreements	$ 0	$ 0		$ 0

Business Combinations, 2020 Acquisitions (FY) (Details) - Asset Purchase Agreements with Six Oncology Practices [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) OncologyPractice
Asset Acquisitions [Abstract]
Number of oncology practices acquired \| OncologyPractice	6
Percentage of assets acquired	100.00%
Purchase Consideration [Abstract]
Cash transferred upon closing	$ 435
Issuance of note payable	621
Non-cash settlement	654
Total consideration transferred	1,710
Net Assets Acquired [Abstract]
Inventories	834
Property and equipment	360
Prepaids	16
Total net assets acquired	1,210
Amount assigned to goodwill	$ 500

Leases, Measurement of Lease Liabilities (FY) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities [Abstract]
Operating cash flows from operating leases	$ 4,984	$ 4,826	$ 12,590
Operating cash flows from finance leases	44	41	79
Financing cash flows from finance leases	233	215	426	$ 205	$ 0
ROU assets obtained in exchange for new operating lease liabilities	$ 4,885	$ 2,808	9,811
Total rent expense			$ 16,200	$ 11,300

Members' Equity (FY)	12 Months Ended
Members' Equity (FY)	Dec. 31, 2022
Members' Equity [Abstract]
Members' Equity	11. Members’ Equity The economic interests of the members in the Company are represented by units consisting of Class A, Class A-1, and Class B membership units and the Company is authorized to issue an unlimited number of each class of units. The Amended and Restated Limited Liability Company Agreement (“Amended LLC Agreement”) dated October 20, 2017 specifies the members’ rights and obligations relating to contributions, distributions, allocation of income and loss and other matters. Class A units All Class A units are entitled to one vote per unit. The Class A units represent a percentage interest in the Company determined by subtracting all of the Class B units’ interests. However, the Class A units’ percentage shall not be less than 70%. There were 7,725 Class A units outstanding at December 31, 2022 and 2021 from an initial contribution of capital of $7.7 million. Class A-1 units In March 2020, the Company entered into the Second Amended and Restated Limited Liability Agreement (“Second Amended LLC Agreement”). The Second Amended LLC Agreement established another class of equity, Class A-1 units, of which 730 units were issued to the Class A-1 Member upon the contribution of capital of $30.0 million. The Class A-1 Member is an affiliate of the Company’s largest supplier of oncology products. The Class A-1 units have rights similar to Class A units including one vote per unit; however, the Second Amended LLC Agreement now provides for a cumulative, annually- compounded, unguaranteed, preferred return of 8.0% on Class A capital contributions and 4.0% on Class A-1 capital contributions. The Company paid an investment banking firm a fee of $1.5 million in connection with the closing of this transaction. The $30.0 million capital contribution less brokerage fees of $1.5 million is included as a net capital contribution of $28.5 million in the Consolidated Statements of Members’ Equity and Consolidated Statements of Cash Flows. Class B units Class B units are issued through the 2017 Profits Interest Plan adopted by the Company in October 2017. The Class B units are available to be granted to certain employees to promote the long-term growth and profitability of the Company and represent profits interest awards. Awards vest over a two-to-five-year period based on anniversary date for certain employees and cliff vest on the fifth anniversary date for certain other employees. All awards vest immediately upon a change in control of the Company. All unvested awards expire upon a grantee’s termination of employment. A grantee has no ability to put the award back to the Company absent a distribution or liquidation event. Class B units have no voting rights. In March 2020, the Company entered into the Second Amended LLC Agreement and in connection with the admission of the Class A-1 Member, the Company restructured the waterfall, and removed the 30% collar on the Class B Units. In order to effectuate these changes, the Company adopted the Second Amended LLC Agreement and a new capital table which, assigned new numbers of Class B units based on their percentage interest relative to the Class A Members by 101 units. The changes to the capital table were expressly called out and approved by the Class A Members and Class B Members in their Signature Pages and Joinders to the Second Amended LLC Agreement. Aggregate equity-based compensation expense recorded for the years ended December 31, 2021 and 2020 related to the Class B units was $20 thousand and is reflected in the carrying value of the Class B Units on the Consolidated Balance Sheets as of December 31, 2022 and 2021. Compensation expense for the year ended December 31, 2022 and unrecognized compensation expense related to unvested units was not material. As of December 31, 2022 and 2021, 2,322 Class B Units were outstanding and 1,918 Class B Units were vested. No Class B Units were issued, vested or forfeited during the year ended December 31, 2022.

Summary of Significant Accounting Policies and Basis of Presentation, Professional Liability (FY) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Professional Liability [Abstract]
Malpractice insurance, limit per claim	$ 1.0	$ 1.0
Malpractice Insurance, Annual Coverage Limit First Dollar Basis		3.0
Malpractice insurance, extended coverage limit per claim	2.0	2.0
Malpractice insurance extended coverage limit in aggregate per policy period	$ 4.0	$ 4.0

Earnings (Loss) Per Unit (FY) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator [Abstract]
Net income (loss)	$ (11,591)	$ (4,380)	$ 2,589	$ (105)	$ 21,951
Undistributed net income (loss)	(12,886)	(5,446)	435	(2,125)	20,229
Class A Units [Member]
Numerator [Abstract]
Net income (loss)	(11,352)	(4,555)	1,179	(1,162)	17,145
Cumulative dividends	391	421	855	780	722
Undistributed net income (loss)	$ (11,743)	$ (4,976)	$ 324	$ (1,942)	$ 16,423
Denominator [Abstract]
Weighted average units outstanding, basic (in units)	7,725	7,725	7,725	7,725	7,725
Weighted average units outstanding, diluted (in units)	7,725	7,725	7,725	7,725	7,725
Earnings (loss) per unit - basic (in dollars per unit)	$ (1,469)	$ (590)	$ 153	$ (150)	$ 2,219
Earnings (loss) per unit - diluted (in dollars per unit)	$ (1,469)	$ (590)	$ 153	$ (150)	$ 2,219
Class A-1 Units [Member]
Numerator [Abstract]
Net income (loss)	$ (566)	$ 175	$ 1,330	$ 1,057	$ 2,284
Cumulative dividends	577	645	1,299	1,240	1,000
Undistributed net income (loss)	$ (1,143)	$ (470)	$ 31	$ (183)	$ 1,284
Denominator [Abstract]
Weighted average units outstanding, basic (in units)	752	730	730	730	604
Weighted average units outstanding, diluted (in units)	752	730	730	730	604
Earnings (loss) per unit - basic (in dollars per unit)	$ (753)	$ 239	$ 1,821	$ 1,447	$ 3,782
Earnings (loss) per unit - diluted (in dollars per unit)	$ (753)	$ 239	$ 1,821	$ 1,447	$ 3,782
Class B Units [Member]
Numerator [Abstract]
Undistributed net income (loss)	$ 0	$ 0	$ 80	$ 0	$ 2,522

Business Combinations (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Business Combinations [Abstract]

4. Business Combinations

2022 Acquisitions

During the six months ended June 30, 2022, the Company entered into a purchase agreement acquiring control of Northern Arizona Hematology and Oncology on January 1, 2022 for an aggregate purchase price of less than $0.1 million. Because the acquisition of Northern Arizona Hematology and Oncology was on the first day of the fiscal period, AON’s results for the six months ended June 30, 2022 include the results of the acquired practice.

In connection with each of the Company’s business combinations (the “Transactions”), the Company executed employment agreements with the selling physicians to become employees of AON Partners and/or Partners of Maryland. Additionally, for each transaction the Company and selling physicians entered into a separate unwind agreement granting each other a unilateral option that may be exercised by either party and effectively returns the acquired business to the selling physicians if exercised. In the event the Company or seller exercise their unwind rights, the selling physicians are required to repay the original purchase price for the assets that were sold in the Transaction plus any assets that were acquired after the Transaction, less any accumulated depreciation or amortization with respect to the assets. The selling physicians are also required to assume all contracts associated with their practice. Additionally, in the event of unwind, the selling physicians are entitled to any severance amounts that are due to them under their employment agreement with AON Partners and their employment is terminated on the unwind date. As of June 30, 2023 and December 31, 2022, no liability has been recorded related to the unwind

agreements as neither the Company nor any selling physicians have exercised their unwind rights and therefore no payments are considered probable to the selling physicians.

4. Business Combinations

2022 Acquisitions

During the year ended December 31, 2022, the Company entered into a purchase agreement acquiring control of Northern Arizona Hematology and Oncology on January 1, 2022 for an aggregate purchase price of less than $0.1 million. Because the acquisition of Northern Arizona Hematology and Oncology was on the first day of the fiscal period, AON’s results for the year ended December 31, 2022 include the results of the acquired practice.

2021 Acquisitions

During 2021 the Company entered into Asset Purchase Agreements (“Transactions”) acquiring control of four (4) oncology practices. The Transactions allow the Company to expand domestic reach related to its comprehensive oncology and practice management services. As described in Note 2, the Company evaluated each of the Transactions and determined each acquisition represents a business combination. This standard also establishes principles and requirements for how the acquirer recognizes and measures in its financial statements the identifiable assets and goodwill acquired, the liabilities assumed, and any noncontrolling interest in the acquiree. ASC 805 also determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination.

			2021 Acquired Locations
Purchase consideration
Cash transferred upon closing			$3,215
Assumed capital lease liabilities			1,097
Total consideration transferred			4,312
Net assets acquired
Inventories			2,211
Other assets			180
Property and equipment			1,371
Total net assets acquired			3,762
Amount assigned to goodwill			$550

2020 Acquisitions

During 2020 the Company entered into Transactions acquiring control of six (6) oncology practices. As described in Note 2, the Company evaluated each of the Transactions and determined each acquisition represents a business combination. This standard also establishes principles and requirements for how the acquirer recognizes and measures in its financial statements the identifiable assets and goodwill acquired, the liabilities assumed, and any noncontrolling interest in the acquiree. ASC 805 also determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination.

In connection with each of the Transactions, the Company acquired 100% of both the clinical and nonclinical assets of the respective seller. The clinical assets, acquired by AON Partners, primarily consist of medical supplies and drugs. Nonclinical assets, acquired by AOMC, primarily consist of tangible fixed assets and equipment. The following table summarizes the amounts of the assets acquired and consideration transferred recognized on respective acquisition dates disclosed in Note 1. For the table below, the Company has presented the acquired locations collectively.

			2020 Acquired Locations
Purchase consideration
Cash transferred upon closing			$435
Issuance of note payable			621
Non-cash settlement			654
Total consideration transferred			1,710
Net assets acquired
Inventories			834
Property and equipment			360
Prepaids			16
Total net assets acquired			1,210
Amount assigned to goodwill			$500

The following table presents revenue and net income for the years ended December 31, 2022, 2021, and 2020, respectively, as if the fiscal 2022 acquisition had occurred as of January 1, 2021, the fiscal 2021 acquisitions had occurred as of January 1, 2020, and the fiscal 2020 acquisitions had occurred as of January 1, 2019.

	Pro Forma
	Year Ended December 31,
	2022	2021	2020
Revenue	$1,149,670	$1,033,187	$951,182
Net income	$2,589	$1,289	$22,381

From the dates of acquisition through December 31, 2022, December 31, 2021 and December 31, 2020, revenue attributable to 2022, 2021, and 2020 acquired businesses was $22.9 million, $55.7 million, and $63.1 million, respectively. It was impracticable to determine the effect on the Company’s net income (loss) of the acquired businesses as their operations have been integrated into the Company’s ongoing operations since the dates of acquisition.

In connection with each of the Transactions, the Company executed employment agreements with the selling physicians to become employees of AON Partners and/or Partners of Maryland. Additionally, for each transaction the Company and selling physicians entered into a separate unwind agreement granting each other a unilateral option that may be exercised by either party and effectively returns the acquired business to the selling physicians if exercised.

In the event the Company or seller exercise their unwind rights, the selling physicians are required to repay the original purchase price for the assets that were sold in the Transactions plus any assets that were acquired after the Transactions, less any accumulated depreciation or amortization with respect to the assets. The selling physicians are also required to assume all contracts associated with their practice. Additionally, in the event of unwind, the selling physicians are entitled to any severance amounts that are due to them under their employment agreement with AON Partners and their employment is terminated on the unwind date. As of December 31, 2022 and 2021, no liability has been recorded related to the unwind agreements as neither the Company nor any selling physicians have exercised their unwind rights and therefore no payments are considered probable to the selling physicians.

Fair Value Measurements (FY)

12 Months Ended

Dec. 31, 2022

Fair Value Measurements [Abstract]

Fair Value Measurements

5. Fair Value Measurements

The following table summarizes the Company’s financial assets that are measured at fair value on a recurring basis:

	As of December 31, 2022
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$109	$—	$—	$109
Marketable securities
Level 2:
Corporate bonds	7,742	6	(125)	7,623
U.S. Treasury securities	2,226	6	(4)	2,228
Level 2 total	9,968	12	(129)	9,851
Total	$10,077	$12	$(129)	$9,960

(1)	Included in cash and cash equivalents in the Consolidated Balance Sheet at December 31, 2022

The Company uses quoted prices in active markets for identical assets to determine the fair value of its Level 1 investments. The fair value of Level 2 investments is determined using pricing based on quoted market prices or alternative market observable inputs.

The fair value of the Company’s marketable securities as of December 31, 2022, by remaining contractual maturities, were as follows:

	As of December 31, 2022
	Corporate Bonds	U.S. Treasury Securities	Total
Due within one year	$3,660	$1,073	$4,733
Due within one to five years	3,963	1,155	5,118
Total	$7,623	$2,228	$9,851

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Leases, Weighted-average Remaining Lease Terms and Discount Rates (FY) (Details)	Jun. 30, 2023	Dec. 31, 2022
Weighted-average Remaining Lease Terms and Discount Rates [Abstract]
Weighted-average remaining operating lease term	6 years 3 days	5 years 8 months 4 days
Weighted-average remaining finance lease term	5 years	5 years 4 months 13 days
Operating leases weighted-average discount rate	5.80%	4.88%
Finance leases weighted-average discount rate	5.09%	3.60%

Inventories (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Inventories [Abstract]

Inventory consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Intravenous drugs	$29,599	$25,674
Oral pharmaceuticals	12,287	10,802
Total inventories	$41,886	$36,476

Inventories consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Intravenous drugs	$25,674	$28,897
Oral pharmaceuticals	10,802	5,632
Total inventories	$36,476	$34,529

Condensed Consolidated Balance Sheets (Q2) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Current assets

Short-term marketable securities

$ 72,708

$ 26,926

$ 27,354

9,984

9,851

145,159

136,098

111,226

41,886

36,476

34,529

Prepaids expenses and other current assets

32,929

28,201

25,078

3,398

2,670

3,277

Current Portion of notes receivable - related parties

$ 1,492

$ 1,797

$ 1,812

Financing Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]

Related Party [Member]

Total current assets

$ 307,556

$ 242,019

$ 208,276

35,672

31,980

32,648

Notes receivable - related parties

43,439

^[1]

43,724

^[1],[2]

^[2]

$ 1,752

$ 2,076

$ 3,151

Financing Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration]

Related Party [Member]

$ 8,311

$ 5,199

$ 3,111

1,230

1,112

397,960

326,228

248,298

Current liabilities

122,168

^[3]

106,495

^[3],[4]

92,908

^[4]

10,176

7,466

8,901

22,873

17,800

13,792

Total current liabilities

7,113

^[5]

9,177

^[5],[6]

^[6]

162,330

140,938

119,343

Long-term debt, net

80,208

80,301

63,694

39,527

^[7]

37,224

^[7],[8]

^[8]

8,245

5,749

5,717

290,310

264,212

188,754

Redeemable convertible preferred Class C Units; 2,459 Units outstanding at June 30, 2023; no Units outstanding at December 31, 2022 (Liquidation preference of $65,327 at June 30, 2023)

62,897

Accumulated other comprehensive loss

(29)

(117)

Retained earnings

5,803

25,828

23,239

Total members' equity

44,619

62,016

59,544

Noncontrolling interest

134

Total equity

44,753

62,016

59,544

Total liabilities and members' equity

397,960

326,228

248,298

7,725

Current liabilities

2,600

31,040

28,500

Redeemable Convertible Preferred Class C Units [Member]

$ 80

Redeemable convertible preferred Class C Units; 2,459 Units outstanding at June 30, 2023; no Units outstanding at December 31, 2022 (Liquidation preference of $65,327 at June 30, 2023)

$ 62,897

$ 0

[1]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[3]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively
[5]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[6]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[7]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[8]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Leases (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Right-of-Use Assets and Lease Liabilities

Right-of-use assets and lease liabilities consist of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Assets
Operating lease right-of-use assets, net	$43,439	$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)	2,913	1,998
Total right-of-use assets	$46,352	$45,722
Liabilities
Current
Current portion of operating lease liabilities	$7,113	$9,177
Current portion of finance lease liabilities (included in accrued other)	623	425
Long-term	7,736	9,602
Long-term operating lease liabilities	39,527	37,224
Long-term finance lease liabilities (included in other long-term liabilities)	2,288	1,619
Total lease liabilities	$49,551	$48,445

Right-of-use assets and lease liabilities consist of the following at December 31, 2022:

Assets
Operating lease right-of-use assets, net			$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)			1,998
Total right-of-use assets			$45,722
Liabilities
Current
Current portion of operating lease liabilities			$9,177
Current portion of finance lease liabilities (included in accrued other)			425
Long-term			9,602
Long-term operating lease liabilities			37,224
Long-term finance lease liabilities (included in other long-term liabilities)			1,619
Total lease liabilities			$48,445

Components of Lease Costs

The components of lease costs recognized in the condensed consolidated statements of operations and comprehensive loss consist of the following for the six months ended June 30, 2023 and 2022 and are included in selling, general, and administrative expenses unless otherwise noted:

	Six Months Ended June 30,
	2023	2022
Operating lease costs	$5,630	$6,136
Finance lease costs
Amortization of finance lease right-of-use assets	233	228
Interest on finance lease liabilities (included in interest expense)	44	41
Variable lease costs	1,162	1,370
Total lease costs	$7,069	$7,775

The components of lease costs recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) consist of the following for the year ended December 31, 2022:

Operating lease costs			$12,465
Finance lease costs
Amortization of finance lease right-of-use assets			523
Interest on finance lease liabilities (included in interest expense)			79
Variable lease costs			2,737
Total lease costs			$15,804

Maturity of Operating and Financing Leases

The following table reconciles the undiscounted cash flows expected to be paid in each of the next five years and thereafter recorded in the condensed consolidated balance sheets for operating and finance leases as of June 30, 2023:

	Operating Lease	Finance Leases
2023 (remainder of year after June 30, 2023)	$4,271	$376
2024	10,304	753
2025	9,174	731
2026	8,897	492
2027	8,015	428
Thereafter	15,517	530
Total lease payments	56,178	3,310
Less: amount representing interest	(9,538)	(399)
Present value of lease liabilities	46,640	2,911
Less: current portion of lease liabilities	(7,113)	(623)
Long-term lease liabilities, net of current portion	$39,527	$2,288

The following table reconciles the undiscounted cash flows expected to be paid in each of the next five years and thereafter recorded on the Consolidated Balance Sheet for operating and financing leases as of December 31, 2022:

	Operating Leases	Finance Leases
2023	$11,215	$491
2024	10,049	491
2025	7,762	469
2026	7,448	231
2027	6,528	166
Thereafter	11,067	429
Total lease payments	54,069	2,277
Less: amount representing interest	(7,668)	(233)
Present value of lease liabilities	46,401	2,044
Less: current portion of lease liabilities	(9,177)	(425)
Long-term lease liabilities, net of current portion	$37,224	$1,619

Cash Paid for Measurement of Lease Liabilities

The cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2023 and 2022 is as follows:

	Six Months Ended June 30,
	2023	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$4,984	$4,826
Operating cash flows from finance leases	44	41
Financing cash flows from finance leases	233	215
ROU assets obtained in exchange for new operating lease liabilities	4,885	2,808
ROU assets obtained in exchange for new finance lease liabilities	1,103	—

The cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2022 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$12,590
Operating cash flows from finance leases			79
Financing cash flows from finance leases			426
ROU assets obtained in exchange for new operating lease liabilities			9,811

Condensed Consolidated Statements of Cash Flows (Q2) (Parenthetical) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Adjustments to reconcile net loss to net cash used in operating activities

Amortization of operating right-of-use assets

$ 4,309

^[1]

$ 5,143

^[1]

$ 10,364

^[2]

$ 0

^[2]

$ 0

^[2]

(5,410)

^[3]

3,829

^[3]

(1,947)

^[4]

(10,260)

^[4]

(6,272)

^[4]

15,673

^[5]

5,532

^[5]

14,077

^[6]

21,679

^[6]

34,000

^[6]

(3,784)

^[7]

(3,842)

^[7]

(10,485)

^[8]

Adjustments to reconcile net loss to net cash used in operating activities

Amortization of operating right-of-use assets

1,062

1,019

2,059

(5,140)

3,637

(1,850)

(11,848)

(6,322)

15,718

6,719

13,314

$ 23,309

$ 37,744

$ (1,303)

$ (1,284)

$ (1,995)

[1]	Includes related party amortization of operating right-of-use assets of $1,062 and $1,019 for the six months ended June 30, 2023 and 2022, respectively.
[2]	Includes related party amortization of operating right-of-use assets of $2,059 for the year ended December 31, 2022
[3]	Includes changes in related party balances of ($5,140) and $3,637 for the six months ended June 30, 2023 and 2022, respectively
[4]	Includes changes in related party balances of ($1,850), ($11,848) , and ($6,322) for the years ended December 31, 2022, 2021, and 2020, respectively
[5]	Includes changes in related party balances of $15,718 and $6,719 for the six months ended June 30, 2023 and 2022, respectively.
[6]	Includes changes in related party balances of $13,314, $23,309, and $37,744 for the years ended December 31, 2022, 2021 and 2020, respectively
[7]	Includes changes in related party balances of ($1,303) and ($1,284) for the six months ended June 30, 2023 and 2022, respectively.
[8]	Includes changes in related party balance of ($1,995) for the year ended December 31, 2022

Summary of Significant Accounting Policies and Basis of Presentation, Offering Costs (FY) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Offering Costs [Abstract]
Offering costs	$ 1.1	$ 0.3

Basis of Presentation and Significant Accounting Policies, Equity Investment in Affiliate (Q2) (Details) $ in Millions	Jan. 31, 2023 USD ($)
Equity Investment in Affiliate [Abstract]
Fair value of equity method investments	$ 2.3
OCP Management Arizona, LLP [Member]
Equity Investment in Affiliate [Abstract]
Percentage of equity interest	49.00%

Long-term Debt (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Debt consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
PNC Facility	$81,250	$81,250
Total	81,250	81,250
Unamortized debt issuance costs	(1,042)	(949)
Total debt	$80,208	$80,301

Debt consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
PNC Facility	$81,250	$65,000
Total	81,250	65,000
Unamortized debt issuance costs	(949)	(1,306)
Total debt	$80,301	$63,694

Variable Interest Entities (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Variable Interest Entities

3. Variable Interest Entities

The assets of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Assets
Cash and cash equivalents	$24,756	$26,844
Accounts receivable	145,159	136,098
Inventories	41,886	36,476
Prepaid expenses and other current assets	679	846
Goodwill and intangibles, net	180	180
Other receivables	32,861	28,139
Other assets	1,817	1,489
Total assets	$247,338	$230,072

The liabilities of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Liabilities
Accounts payable	$120,076	$102,783
Accrued compensation and benefits	13,745	6,021
Accrued other	16,995	15,926
Other long-term liabilities	369	452
Due to AON and subsidiaries, net	126,447	128,204
Total liabilities	$277,632	$253,386

All intercompany transactions and balances with the VIEs are eliminated in consolidation.

3. Variable Interest Entities

Based on various quantitative and qualitative factors, including assessment of certain services performed and relationships held above, management has determined that AON Partners and Partners of Maryland are both variable interest entities and AOMC is the primary beneficiary who holds the decision-making rights over the activities that most significantly impact AON Partners and Partners of Maryland’s economic performance through the MSAs and other contractual agreements. Accordingly, the results of AON Partners and Partners of Maryland have been consolidated with the Company for the years ended December 31, 2022, 2021, and 2020.

The assets of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Assets	2022	2021
Cash and cash equivalents	$26,844	$24,074
Accounts receivable	136,098	111,183
Inventories	36,476	34,529
Property and equipment, net	—	108
Prepaid expenses and other current assets	846	374
Goodwill and intangibles, net	180	180
Other receivables	28,139	24,950
Other assets	1,489	1,241
Total assets	$230,072	$196,639

The liabilities of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Liabilities	2022	2021
Accounts payable	$102,783	$89,275
Accrued compensation and benefits	6,021	6,504
Accrued other	15,926	9,346
Medicare advance payment	—	3,742
Other long-term liabilities	452	81
Due to AON and subsidiaries, net	128,204	102,090
Total liabilities	$253,386	$211,038

All intercompany transactions and balances with the VIEs are eliminated in consolidation.

Income Taxes (FY) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
Income Taxes (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current [Abstract]
Federal			$ 0	$ (306)	$ 152
State			0	(20)	123
Current income tax expense (benefit)			0	(326)	275
Deferred [Abstract]
Federal			0	433	(922)
State			0	353	(136)
Deferred income tax expense (benefit)			0	786	(1,058)
Total income tax expense (benefit)	$ 0	$ 0	$ 0	$ 460	$ (783)
Reconciliation of Effective Income Tax Rate [Abstract]
Federal statutory income tax rate			21.00%	21.00%	21.00%
State taxes, net of federal benefit			(11.94%)	(97.95%)	(0.80%)
State rate change			(2.15%)	(3.41%)	0.07%
Other			(3.71%)	3.00%	0.07%
Nontaxable passthrough LLC income			(87.14%)	(658.26%)	(27.31%)
Increase in valuation allowance			83.94%	864.95%	3.26%
Effective tax rate	0.00%	0.00%	0.00%	129.33%	(3.71%)
Deferred tax assets [Abstract]
Net operating loss carryforwards			$ 6,589	$ 5,166
Accrued expenses			165	426
Deferred tax assets			6,754	5,592
Valuation allowance			(5,835)	(3,662)
Net deferred tax asset			919	1,930
Deferred tax liabilities [Abstract]
Prepaid expenses			0	64
Accounting method change			918	1,866
Fixed assets			1	0
Deferred tax liabilities			919	1,930
Net deferred tax asset			0	0
Operating Loss Carryforwards [Abstract]
Federal net operating loss carryforwards			25,400	20,100
State net operation loss carryforwards			26,800	20,500
Increase in valuation allowance			2,200	3,000
Uncertain Tax Positions [Abstract]
Uncertain tax positions			0	0
Interest and penalties recognized for uncertain tax positions			0	0	$ 0
Accrued interest and penalties recognized for uncertain tax positions			$ 0	$ 0

Related Parties (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Related Parties

10.	Related Parties

Transactions Notes Receivable

	As of June 30, 2023	As of December 31, 2022	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,027	$1,057	$5,355	5/1/2019	4/30/2024
Note 3	67	119	491	6/1/2019	5/31/2024
Note 6	—	351	1,111	5/22/2020	5/22/2023
Note 8	2,150	2,221	2,816	5/1/2020	5/1/2025
Note 9	—	125	125	1/24/2022	6/30/2023
Total notes receivables	3,244	3,873

As of June 30,

2023

As of December 31,

2022

Original

Principal

Issue

Date

Maturity

Date

Less: Current portion of notes receivable

$(1,492)

(1,797)

Notes receivable, less current portion

$1,752

$2,076

Leases

Inventory Purchases/Concentration Risk

13. Related Parties

Transactions Notes Receivable

	As of December 31,		Original Principal	Issue Date	Maturity Date
	2022	2021	Original Principal	Issue Date	Maturity Date
Notes receivable
Note 2	$1,057	$1,294	$5,355	5/1/2019	4/30/2024
Note 3	119	217	491	6/1/2019	5/31/2024
Note 4	—	259	917	8/1/2019	7/31/2024
Note 6	351	680	1,111	5/22/2020	5/22/2023
Note 8	2,221	2,513	2,816	5/1/2020	5/1/2025
Note 9	125	—	125	1/24/2022	6/30/2023
Total notes receivables	3,873	4,963
Less: Current portion of notes receivable	(1,797)	(1,812)
Notes receivable, less current portion	$2,076	$3,151

Leases

Inventory Purchases/Concentration Risk

Financial Assets Measured at Fair Value on Recurring Basis

Equity, Distributions (Q2) (Details) - USD ($) $ in Millions			1 Months Ended
	Jun. 06, 2023	Mar. 04, 2020	Mar. 31, 2020
Class A Unit [Member]
Distributions to Class A and Class A-1 Members [Abstract]
Percentage of preferred return on capital contributions		8.00%	8.00%
Cash distribution paid	$ 4.0
Class A-1 Units [Member]
Distributions to Class A and Class A-1 Members [Abstract]
Percentage of preferred return on capital contributions		4.00%	4.00%
Cash distribution paid	$ 4.1

Fair Value Measurements (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Fair Value Measurements [Abstract]

The following table summarizes the Company’s marketable securities financial assets that are measured at fair value on a recurring basis:

	As of June 30, 2023
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$172	$—	$—	$172
Marketable securities
Level 2:
Corporate bonds	7,597	29	(83)	7,543
U.S. Treasury securities	2,416	28	(3)	2,441
Level 2 total	10,013	57	(86)	9,984
Total	$10,185	$57	$(86)	$10,156

	As of December 31, 2022
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$109	$—	$—	$109
Marketable securities
Level 2:
Corporate bonds	7,742	6	(125)	7,623
U.S. Treasury securities	2,226	6	(4)	2,228
Level 2 total	9,968	12	(129)	9,851
Total	$10,077	$12	$(129)	$9,960

(1)	Included in cash and cash equivalents in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022.

The following table summarizes the Company’s financial assets that are measured at fair value on a recurring basis:

	As of December 31, 2022
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Cash equivalents⁽¹⁾
Level 1:
Money market funds	$109	$—	$—	$109
Marketable securities
Level 2:
Corporate bonds	7,742	6	(125)	7,623
U.S. Treasury securities	2,226	6	(4)	2,228
Level 2 total	9,968	12	(129)	9,851
Total	$10,077	$12	$(129)	$9,960

(1)	Included in cash and cash equivalents in the Consolidated Balance Sheet at December 31, 2022

Remaining Contractual Maturities

The fair value of the Company’s marketable securities as of June 30, 2023, by remaining contractual maturities, were as follows:

	Corporate Bonds	U.S. Treasuries	Total
Due in one year or less	$5,940	$1,672	$7,612
Due in one to five years	1,603	769	2,372
Total	$7,543	$2,441	$9,984

The fair value of the Company’s marketable securities as of December 31, 2022, by remaining contractual maturities, were as follows:

	As of December 31, 2022
	Corporate Bonds	U.S. Treasury Securities	Total
Due within one year	$3,660	$1,073	$4,733
Due within one to five years	3,963	1,155	5,118
Total	$7,623	$2,228	$9,851

Leases, Components of Lease Costs (Q2) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Components of Lease Costs [Abstract]
Operating lease costs	$ 5,630	$ 6,136	$ 12,465
Finance lease costs [Abstract]
Amortization of finance lease right-of-use assets	233	228	523
Interest on finance lease liabilities (included in interest expense)	44	41	79
Variable lease costs	1,162	1,370	2,737
Total lease costs	$ 7,069	$ 7,775	$ 15,804

Condensed Consolidated Statements of Mezzanine and Members, Equity (Q2) - USD ($) $ in Thousands	Common Stock [Member] Class A Units [Member]	Common Stock [Member] Class A-1 Units [Member]	Common Stock [Member] Class B Units [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total	Class A Units [Member]	Class A-1 Units [Member]
Beginning balance (in units) at Dec. 31, 2019	7,725	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	$ 0	$ 0	$ 21,951		$ 21,951	$ 17,145	$ 2,284
Issuance of Class C Units, net of offering costs		$ 28,500					28,500
Issuance of Class C Units, net of offering costs (in shares)		730
Equity-based compensation	$ 0	$ 0	20	0	0		20
Other comprehensive Income (loss)							0
Ending balance (in units) at Dec. 31, 2020	7,725	730
Ending balance at Dec. 31, 2021							$ 0
Ending balance (in shares) at Dec. 31, 2021	7,725	730					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	0	0	(105)		$ (105)	(1,162)	1,057
Equity-based compensation	0	0	20	0	0		20
Other comprehensive Income (loss)							0
Ending balance at Dec. 31, 2021	$ 7,725	$ 28,500	80	0	23,239	$ 0	59,544
Ending balance (in units) at Dec. 31, 2021	7,725	730
Ending balance at Jun. 30, 2022							$ 0
Ending balance (in shares) at Jun. 30, 2022							0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	0	0	(4,380)	0	$ (4,380)	(4,555)	175
Equity-based compensation	0	0	10	0	0	0	10
Other comprehensive Income (loss)	0	0	0	(84)	0	0	(84)
Ending balance at Jun. 30, 2022	$ 7,725	$ 28,500	90	(84)	18,859	0	55,090
Ending balance (in units) at Jun. 30, 2022	7,725	730
Beginning balance at Dec. 31, 2021							$ 0
Beginning balance (in shares) at Dec. 31, 2021	7,725	730					0
Ending balance at Dec. 31, 2022							$ 0
Ending balance (in shares) at Dec. 31, 2022							0
Beginning balance at Dec. 31, 2021	$ 7,725	$ 28,500	80	0	23,239	0	$ 59,544
Beginning balance (in units) at Dec. 31, 2021	7,725	730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	0	0	2,589		2,589	1,179	1,330
Other comprehensive Income (loss)	0	0	0	(117)	0		(117)
Ending balance at Dec. 31, 2022	$ 7,725	$ 28,500	80	(117)	25,828	0	62,016
Ending balance (in units) at Dec. 31, 2022	7,725	730
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Class C Units, net of offering costs							$ 64,246
Issuance of Class C Units, net of offering costs (in shares)							2,459
Class C derivative liability							$ (1,349)
Ending balance at Jun. 30, 2023							$ 62,897
Ending balance (in shares) at Jun. 30, 2023							2,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	0	0	(11,591)	0	$ (11,591)	$ (11,352)	$ (566)
Issuance of Class C Units, net of offering costs	$ 0	$ 0	0	0	0	0	0
Issuance of Class C Units, net of offering costs (in shares)	0	0
Class A and A-1 preferred returns	$ 0	$ 0	0	0	(8,174)	0	(8,174)
Derivative liability on Class A-1 anti-dilution feature	0	2,540	0	0	0	0	2,540
Tax distributions	0	0	0	0	(260)	0	(260)
Capital contribution from noncontrolling interest member	0	0	0	0	0	134	134
Class A-1 distribution	0	$ 0	0	0	0	0	0
Class A-1 distribution (in shares)		174
Other comprehensive Income (loss)	0	$ 0	0	88	0	0	88
Ending balance at Jun. 30, 2023	$ 7,725	$ 31,040	$ 80	$ (29)	$ 5,803	$ 134	$ 44,753
Ending balance (in units) at Jun. 30, 2023	7,725	904

CONSOLIDATED BALANCE SHEETS (FY) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Current assets

Short-term marketable securities

$ 26,926

$ 27,354

9,851

Restricted cash

5,000

136,098

111,226

36,476

34,529

Prepaids expenses and other current assets

28,201

25,078

2,670

3,277

Current portion of notes receivable - related parties

$ 1,797

$ 1,812

Financing Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]

Related Party [Member]

Total current assets

$ 242,019

$ 208,276

31,980

32,648

Notes receivable - related parties

^[1]

43,724

^[2]

$ 2,076

$ 3,151

Financing Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration]

Related Party [Member]

$ 5,199

$ 3,111

1,230

1,112

326,228

248,298

Current liabilities

^[3]

106,495

^[4]

92,908

7,466

8,901

17,800

13,792

3,742

Total current liabilities

^[6]

9,177

^[5]

140,938

119,343

Commitments and contingencies (Note 16)

^[8]

37,224

^[7]

Long-term debt, net

80,301

63,694

5,749

5,717

264,212

188,754

Accumulated other comprehensive loss

(117)

Retained earnings

25,828

23,239

Total members' equity

62,016

59,544

Total liabilities and members' equity

326,228

248,298

7,725

28,500

2023 (remainder of year after June 30, 2023)

$ 80

[1]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[2]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[3]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively
[4]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[5]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[6]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[7]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[8]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Leases, Maturity of Operating and Finance Lease (Q2) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Operating Leases [Abstract]

$ 4,271

10,304

$ 11,215

9,174

10,049

8,897

7,762

8,015

7,448

15,517

56,178

54,069

(9,538)

(7,668)

46,640

46,401

Long-term lease liabilities, net of current portion

(7,113)

^[1]

(9,177)

^[1],[2]

$ 0

^[2]

39,527

^[3]

37,224

^[3],[4]

^[4]

Finance Leases [Abstract]

2023 (remainder of year after June 30, 2023)

376

753

491

731

491

492

469

428

231

530

3,310

2,277

(399)

(233)

2,911

2,044

Long-term lease liabilities, net of current portion

(623)

(425)

$ 0

$ 2,288

$ 1,619

[1]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[3]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Income Taxes (Q2) (Details)	6 Months Ended		12 Months Ended
Income Taxes (Q2) (Details)	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Effective tax rate	0.00%	0.00%	0.00%	129.33%	(3.71%)

Property and Equipment, Net (FY)

12 Months Ended

Dec. 31, 2022

Property and Equipment, Net [Abstract]

Property and Equipment, Net

8. Property and Equipment, Net

Property and equipment, net, consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Leasehold improvements	$26,076	$23,744
Furniture, fixtures and equipment	2,669	2,346
Medical equipment	11,003	8,811
Computer equipment	3,115	2,713
Signs	129	117
Automobiles	69	69
Software	4,834	4,036
Construction-in-progress	1,433	1,445
	49,328	43,281
Accumulated depreciation and amortization	(17,348)	(10,633)
Property and equipment, net	$31,980	$32,648

For the years ended December 31, 2022, 2021 and 2020, depreciation expense was approximately $6.7 million, $6.1 million, and $3.7 million, respectively, and is included in general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Construction-in-progress consists primarily of capital expenditures on new physician practice facilities which have not yet been opened and improvements to existing practice facilities which are not complete at year-end.

Basis of Presentation and Significant Accounting Policies (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Summary of Significant Accounting Policies and Basis of Presentation [Abstract]

Basis of Presentation and Significant Accounting Policies

2. Basis of Presentation and Significant Accounting Policies

Basis of Presentation

Refer to Note 3 for further information on the VIEs.

Significant Accounting Policies

The accounting policies included below should be read in conjunction with the annual consolidated financial statements.

Accounting Estimates and Assumptions

Segments

Revenue Recognition

Short-term Marketable Securities

Investments in marketable securities consist of corporate bonds and U.S. Treasury securities.

Equity Investment in Affiliate

Noncontrolling Interests

Mezzanine Equity

Business Combinations

Offering Costs

Professional Liability

Fair Value of Financial Instruments

Level 1

Inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.

Level 2

Level 3

Earnings Per Unit

Preferred Units and are a participating security as these units are entitled to a preferred return and participate with common units in undistributed earnings on a pro rata basis.

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

2. Summary of Significant Accounting Policies and Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary American Oncology Management Company, LLC (“AOMC”), and its consolidated variable interest entities (“VIEs”) American Oncology Partners, P.A. (“AON Partners”), American Oncology Partners of Maryland, P.A. (“Partners of Maryland”) and AON Central Services, LLC (“Central Services”). AON Central Services, LLC was established during 2022; however, as of December 31, 2022, it had no activity. All significant intercompany accounts, related-party balances and transactions between the entities have been eliminated in consolidation.

The Company accounts for AON Partners and Partners of Maryland in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidations. The Company

determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a VIE. A VIE is broadly defined as an entity that has any of the following three characteristics: (i) the equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (ii) substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights; or (iii) the equity investors as a group lack any of the following, the power through voting or similar rights to direct the activities of the entity that most significantly impact the entity’s economic performance, the obligation to absorb the expected losses of the entity, or the right to receive the expected residual returns of the entity. The Company consolidates a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Management performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Changes in consolidation status are applied prospectively, if any. The Company has contractual relationships with AON Partners and Partners of Maryland and the physician owners through management service agreements (“MSAs”) and other contractual agreements to provide all practice management services outside of medical services provided by the physicians. In addition, despite not being required by the contractual relationships, the Company regularly provides funding to support AON Partners and Partners of Maryland’s operations and acquisitions of physician practices.

The Company has concluded that AON Partners and Partners of Maryland are both VIEs in which the Company has the characteristics of a controlling financial interest and is deemed to be the primary beneficiary. The variable interest subjects the Company to all potential losses in the entities and, therefore, requires the Company to consolidate the results of AON Partners and Partners of Maryland in its consolidated financial statements. As noted above, Central Services is also a VIE; however, there was no activity during 2022. Refer to Note 3 for further information on the VIEs.

Accounting Estimates and Assumptions

Segments

Revenue Recognition

Revenue is recognized under Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”). The Company determines the transaction price based upon standard charges for goods and services with anticipated consideration due from patients, third-party payors (including health insurers and government agencies) and others. The Company’s revenue is primarily derived from patient service revenues, which encompass oncology services provided during patient visits and shipments of pharmacy prescriptions. Performance obligations for the Company’s services provided to patients and most procedures, are satisfied over the time of visit which is the same day services are performed. Performance obligations relating to pharmacy revenue are considered fully satisfied at a point in time upon the customer receiving delivery of the prescription. Accordingly, the Company does not anticipate a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and any such revenue recognized during the years ended December 31, 2022, 2021, and 2020 was immaterial.

The Company monitors revenue and receivables to prepare estimated contractual allowances for the anticipated differences between billed and reimbursed amounts. Payments from third-party payors and Government programs including Medicare and Medicaid may be subject to audit and other retrospective adjustments. Such amounts are considered on an estimated basis when net patient revenue is recorded and are adjusted as final adjustments are determined. For the years ended December 31, 2022, 2021, and 2020, such resulting historic adjustments have been immaterial to the consolidated financial statements.

The Company uses the cost-to-cost measure of progress for the Company’s contract because it best depicts the transfer of control to the customer as the performance obligation is fulfilled. For this method, the Company compares the contract costs incurred to date to the estimated total contract costs through completion. As part of the client proposal and contract negotiation process, the Company develops a detailed project budget for the direct costs and reimbursable costs based on the scope of the work, the complexity of the study, the geographical location involved and the Company’s historical experience. The estimated total contract costs at the project level are reviewed and revised periodically throughout the life of the contract, with adjustments to revenue resulting from such revisions being recorded on a cumulative basis in the period in which the revisions are identified. Contract costs consist primarily of direct labor and other reimbursable project-related costs such as travel, third-party vendor costs and investigator fees. The Company establishes pricing based on the Company’s internal pricing guidelines, discount agreements, if any, and negotiations with the client. The transaction price is the contractually defined amount. For the year ended December 31, 2022, the Company recognized revenue of $4.3 million related to the clinical trial which is included within other revenue.

The Company has a system and estimation process for recording Medicare net patient service revenue and estimated recoupments as it relates to value-based care (“VBC”) revenue included in patient service revenue on the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company’s VBC revenue is primarily generated through its participation in the CMS Oncology Care Model (“OCM”) which is an episode-based payment model to promote high-quality cancer care. Participants enter six-month episode periods, and the Company bills a monthly fee during the six-month period based on a fixed rate per participant per month and the total number of participants. Certain quality and compliance metrics are tracked as part of the program and submitted to CMS at the end of the episode period which may result in recoupment of funds. The Company estimates the recoupment amount by developing a recoupment percentage for each period based on historical known recoupment from CMS and applies the recoupment percentage against total fees for the period. Based on the estimate, the Company accrues a liability representing the expected final recoupments based on historical settlement trends.

Short-term Marketable Securities

Cost of Revenue

Business Combinations

Cash and Cash Equivalents

Restricted Cash

	As of December 31,
	2022	2021
Cash and cash equivalents	$26,926	$27,354
Restricted cash	—	5,000
Total cash, cash equivalents and restricted cash shown in the statements of cash flow	$26,926	$32,354

Accounts Receivable

	As of December 31,
	2022	2021
Medicare	25%	27%
Managed Medicare	25%	21%
Other Commercial	17%	17%
BCBS	17%	16%
Managed Medicaid	8%	12%
Other	8%	7%
	100%	100%

As of December 31, 2022, December 31, 2021, and January 1, 2021, the accounts receivable, net balances were $136.1 million, $111.2 million, and $80.4 million, respectively.

Inventories

Other Receivables

Property and Equipment

Leasehold improvements			1 – 15 years
Furniture, fixtures and equipment			7 years
Medical equipment			5 – 10 years
Computer equipment			5 years
Signs			7 years
Automobiles			5 years
Software			7 years

Goodwill

Leases

Income Taxes

Concentration of Credit Risk

Equity-Based Compensation

Debt Issuance Costs

Offering Costs

Professional Liability

Fair Value of Financial Instruments

Level 1

Inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.

Level 2

Level 3

Inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability.

Earnings Per Unit

The Company follows the two-class method when computing net income (loss) per units as the Company has units that meet the definition of participating securities. The two-class method determines net income (loss) per unit for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common members for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Class B units do not have an obligation to share in losses, therefore in periods of net loss, the numerator is not impacted by Class B participation.

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Summary of Significant Accounting Policies and Basis of Presentation, Property and Equipment (FY) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Long-lived asset impairments	$ 0	$ 0	$ 0
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	1 year
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	15 years
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	7 years
Medical Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years
Medical Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	10 years
Computer Equipment [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years
Signs [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	7 years
Automobiles [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years
Software [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	7 years

Business Combinations, 2021 Acquisitions (FY) (Details) - Asset Purchase Agreements with Four Oncology Practices [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) OncologyPractice
Asset Acquisitions [Abstract]
Number of oncology practices acquired \| OncologyPractice	4
Percentage of assets acquired	100.00%
Purchase Consideration [Abstract]
Cash transferred upon closing	$ 3,215
Assumed capital lease liabilities	1,097
Total consideration transferred	4,312
Net Assets Acquired [Abstract]
Inventories	2,211
Other assets	180
Property and equipment	1,371
Total net assets acquired	3,762
Amount assigned to goodwill	$ 550

Business Combinations (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Business Combinations [Abstract]

Recently Adopted/ Issued Accounting Pronouncements [Abstract]

4. Business Combinations

2022 Acquisitions

agreements as neither the Company nor any selling physicians have exercised their unwind rights and therefore no payments are considered probable to the selling physicians.

4. Business Combinations

2022 Acquisitions

2021 Acquisitions

			2021 Acquired Locations
Purchase consideration
Cash transferred upon closing			$3,215
Assumed capital lease liabilities			1,097
Total consideration transferred			4,312
Net assets acquired
Inventories			2,211
Other assets			180
Property and equipment			1,371
Total net assets acquired			3,762
Amount assigned to goodwill			$550

2020 Acquisitions

In connection with each of the Transactions, the Company acquired 100% of both the clinical and nonclinical assets of the respective seller. The clinical assets, acquired by AON Partners, primarily consist of medical supplies and drugs. Nonclinical assets, acquired by AOMC, primarily consist of tangible fixed assets and equipment. The following table summarizes the amounts of the assets acquired and consideration transferred recognized on respective acquisition dates disclosed in Note 1. For the table below, the Company has presented the acquired locations collectively.

			2020 Acquired Locations
Purchase consideration
Cash transferred upon closing			$435
Issuance of note payable			621
Non-cash settlement			654
Total consideration transferred			1,710
Net assets acquired
Inventories			834
Property and equipment			360
Prepaids			16
Total net assets acquired			1,210
Amount assigned to goodwill			$500

	Pro Forma
	Year Ended December 31,
	2022	2021	2020
Revenue	$1,149,670	$1,033,187	$951,182
Net income	$2,589	$1,289	$22,381

Summary of Significant Accounting Policies and Basis of Presentation, Recently Adopted/ Issued Accounting Pronouncements (FY) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Operating ROU assets

$ 43,439

^[1]

$ 43,724

^[1],[2]

$ 0

^[2]

3,398

2,670

3,277

7,113

^[3]

9,177

^[3],[4]

^[4]

Finance lease, ROU assets

39,527

^[5]

37,224

^[5],[6]

^[6]

2,913

1,998

Finance lease, lease liabilities

2,911

2,044

Recently Adopted/ Issued Accounting Pronouncements [Abstract]

$ 8,245

5,749

$ 5,717

ASU 2016-02 [Member]

Operating ROU assets

44,400

(1,200)

8,000

Finance lease, ROU assets

38,000

2,500

Finance lease, lease liabilities

2,500

$ 2,800

[1]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[3]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[5]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[6]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Equity, Grants (Q2) (Details) - Class B-1 Units [Member] - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Class B-1 Grants [Abstract]
Number of shares granted (in shares)	351
Estimated grant date fair value	$ 4.4
Compensation expense		$ 0.0

Income Taxes (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Income Taxes [Abstract]

Income Taxes

8. Income Taxes

The Company’s effective tax rate was 0% and 0% for the six months ended June 30, 2023 and 2022, respectively. The effective income tax rate for the six months ended June 30, 2023 and 2022 differed from the federal statutory rate primarily due to certain legal entities in the Company's structure being treated as partnerships for income tax purposes and, therefore, not being subject to income tax. All corporate entities within the Company’s structure continue to maintain a full valuation allowance against their net deferred tax assets.

12. Income Taxes

The income tax expense (benefit) in 2022, 2021, and 2020 consisted of the following:

	Year Ended December 31,
	2022	2021	2020
Current
Federal	$—	$(306)	$152
State	—	(20)	123
	—	(326)	275
Deferred
Federal	—	433	(922)
State	—	353	(136)
	—	786	(1,058)
Total income tax expense (benefit)	$—	$460	$(783)

The differences between the federal tax rate and the Company’s effective tax rate for the years ended December 31, 2022, 2021, and 2020 are as follows:

	Year Ended December 31,
	2022	2021	2020
Federal statutory income tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	(11.94)	(97.95)	(0.80)
State rate change	(2.15)	(3.41)	0.07
Other	(3.71)	3.00	0.07
Nontaxable passthrough LLC income	(87.14)	(658.26)	(27.31)
Increase in valuation allowance	83.94	864.95	3.26
Effective tax rate	—%	129.33%	(3.71)%

Components of the net deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows:

	As of December 31,
	2022	2021
Deferred tax assets
Net operating loss carryforwards	$6,589	$5,166
Accrued expenses	165	426
Deferred tax assets	6,754	5,592
Valuation allowance	(5,835)	(3,662)
Net deferred tax asset	919	1,930
Deferred tax liabilities
Prepaid expenses	—	64
Accounting method change	918	1,866
Fixed assets	1	—
Deferred tax liabilities	919	1,930
Net deferred tax asset	$—	$—

As of December 31, 2022, the Company had federal and state net operating loss (“NOL”) carryforwards of $25.4 million and $26.8 million, respectively. As of December 31, 2021, the Company had federal and state NOL carryforwards of $20.1 million and $20.5 million, respectively. The federal NOL carryforwards can be carried forward indefinitely and the state NOL carryforwards begin to expire in 2028.

During the years ended December 31, 2022 and 2021, the Company recorded an increase in the valuation allowance of $2.2 million and $3.0 million, respectively. The increase is primarily related to additional tax losses generated during the year.

As of December 31, 2022 and 2021, there are no liabilities related to uncertain tax positions. The Company recognizes interest and penalties related to unrecognized tax liabilities as a component of income tax expense, if any. The Company recognized no material interest and penalties during the years ended December 31, 2022, 2021, and 2020 and had no accrued interest or penalties as of December 31, 2022 and 2021.

The Company files income tax returns in the U.S. Federal jurisdiction and various state and local jurisdictions. The U.S. Federal and state and local tax returns are subject to examination for years 2019 and later. The Company does not currently have any open audits.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Condensed Consolidated Balance Sheets (Q2) (Parenthetical)
$ in Thousands

Jun. 30, 2023

USD ($)

Assets

$ 43,439

^[1]

122,168

^[2]

long-term operating lease liabilities

7,113

^[3]

$ 39,527

^[4]

Redeemable Convertible preferred shares outstanding (in shares) | shares

2,459

Units outstanding (in units) | shares

7,725

Units outstanding (in units) | shares

904

Units outstanding (in units) | shares

Redeemable Convertible Preferred Class C Units [Member]

Redeemable Convertible preferred shares outstanding (in shares) | shares

2,459

Liquidation preference

$ 65,327

Assets

12,015

117,831

long-term operating lease liabilities

1,923

$ 10,514

[1]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[3]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively

Condensed Consolidated Statements of Cash Flows (Q2) - USD ($)
$ in Thousands

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Cash flows from operating activities

Net loss

$ (11,591)

$ (4,380)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

4,308

3,159

Amortization of debt issuance costs

353

297

Amortization of operating right-of-use assets

^[1]

4,309

5,143

Loss on fair value adjustment of derivative liability

5,066

Equity-based compensation

Equity in loss of affiliate

219

Gain on sale of property and equipment

(2)

(9,061)

(15,698)

^[2]

(5,410)

3,829

(728)

(239)

(4,728)

(160)

(2,430)

(374)

^[3]

15,673

5,532

2,710

(170)

1,199

385

Medicare advance payments

^[4]

(3,784)

(3,842)

(3,742)

Net cash (used in) provided by operating activities

1,626

262

(2,271)

(9,988)

Cash flows from investing activities

Purchases of property and equipment

(6,899)

(2,783)

Proceeds from disposals of property and equipment

Acquisition of physician practices

(5)

Purchase of marketable securities

(2,280)

(10,024)

Proceeds from sales of marketable securities

2,235

252

Issuance of notes receivable - related parties

(243)

Collections on notes receivable - related parties

630

666

Net cash used in investing activities

(6,309)

(12,137)

Cash flows from financing activities

Borrowings on long-term debt

16,250

Issuance of redeemable convertible preferred Class C Units

64,996

Class A and A-1 preferred returns

(8,174)

Tax distributions

(260)

Repayments on finance lease liabilities

(233)

(215)

Capital contribution from noncontrolling interest member

134

Cash paid for debt financing costs

(446)

(171)

Cash paid for offering costs on issuance of Class C Units

(750)

Cash paid for offering costs on Business Combination

(905)

Net cash provided by financing activities

54,362

15,864

Net increase (decrease) in cash and cash equivalents

45,782

(6,261)

Cash and cash equivalents

Cash and cash equivalents, Beginning of Period

26,926

32,354

Cash and cash equivalents, End of Period

72,708

26,093

Supplemental noncash investing and financing activities

Right-of-use assets and lease liabilities removed in termination of lease

1,023

Remeasurement of lease liabilities due to modifications of terms of leases

2,641

Derivative liability on issuance of Class C Units

1,349

Derivative liability on Class A-1 anti-dilution feature

$ 2,540

$ 0

[1]	Includes related party amortization of operating right-of-use assets of $1,062 and $1,019 for the six months ended June 30, 2023 and 2022, respectively.
[2]	Includes changes in related party balances of ($5,140) and $3,637 for the six months ended June 30, 2023 and 2022, respectively
[3]	Includes changes in related party balances of $15,718 and $6,719 for the six months ended June 30, 2023 and 2022, respectively.
[4]	Includes changes in related party balances of ($1,303) and ($1,284) for the six months ended June 30, 2023 and 2022, respectively.

Marketable Securities, Remaining Contractual Maturities (Q2) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Marketable Securities [Member]
Remaining Contractual Maturities [Abstract]
Due in one year or less	$ 7,612	$ 4,733
Due in one to five years	2,372	5,118
Estimated Fair Value	9,984	9,851
Corporate Bonds [Member]
Remaining Contractual Maturities [Abstract]
Due in one year or less	5,940	3,660
Due in one to five years	1,603	3,963
Estimated Fair Value	7,543	7,623
U.S. Treasuries [Member]
Remaining Contractual Maturities [Abstract]
Due in one year or less	1,672	1,073
Due in one to five years	769	1,155
Estimated Fair Value	$ 2,441	$ 2,228

Professional Liability Insurance (FY) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Malpractice Insurance [Abstract]
Maximum insurance coverage amount per incident		$ 2.0	$ 2.0
Annual agreegate amount of insurance coverage for each physician	$ 3.0	4.0	4.0
Malpractice insurance recovery balance		2.2	1.0
Malpractice insurance reserve liability balance		3.7	2.2
Net tail liability		1.6	1.1
Physician [Member]
Malpractice Insurance [Abstract]
Maximum insurance coverage amount per incident		1.0	1.0
Annual agreegate amount of insurance coverage for each physician		$ 1.0	$ 1.0

Business (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Number of lease facilities controlled by related parties | Facility

Business

1. Business

Six Months Ended June 30, 2022		Six Months Ended June 30, 2023
State	Effective Date	State	Effective Date
Arizona	1/1/2022	Texas^(a)	6/12/2023
Georgia^(a)	1/1/2022
Louisiana^(a)	1/17/2022
Georgia^(a)	4/5/2022
Georgia^(a)	5/1/2022

(a)	The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

Business Combination Agreements

•	merger of the AON Class C Preferred Investor with and into New AON,

•	reclassification and exchange of the AON Class C Units, including any accrued interest thereon, for AON Series A preferred Units at the Per Company Class C Unit Exchange Ratio, and

•	removal of the minimum cash requirement of $60.0 million included in the Business Combination Agreement.

1. Business

State

Effective

Date

State

Effective

Date

State

Effective

Date

Location 12

North

Carolina

4/1/2020

Location 18

Maryland

3/1/2021

Location 23

Arizona

1/1/2022

Location 13

Maryland

5/1/2020

Location 19

Arizona

4/1/2021

Location 24

Georgia^(a)

1/1/2022

Location 14

Virginia

5/1/2020

Location 20

Washington

5/1/2021

Location 25

Louisiana^(a)

1/17/2022

Location 15

Michigan

7/1/2020

Location 21

Georgia^(a)

8/1/2021

Location 26

Georgia^(a)

4/5/2022

Location 16

Washington

8/1/2020

Location 22

Arizona

11/1/2021

Location 27

Georgia^(a)

5/1/2022

Location 17

Georgia and

South

Carolina

9/1/2020

Location 28

Georgia^(a)

9/20/2022

(a)	The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

Business Combination Agreement

Equity, Mezzanine Equity, Dividends and Voting and Redemption Rights (Q2) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) Manager	Jun. 30, 2022 USD ($)
Dividends [Abstract]
Net invested capital contributions	$ 64,996	$ 0
Class C Units [Member]
Mezzanine Equity - New Class C Units [Abstract]
Redemption period	5 years
Dividends [Abstract]
Preferred units cumulative dividend rate percentage	8.00%
Net invested capital contributions	$ 65,000
Interest payable on accrued dividends	$ 0
Number of managers to be appointed as board of managers by preferred units holders \| Manager	1

Inventories (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory [Abstract]
Total inventories	$ 41,886	$ 36,476	$ 34,529
Intravenous Drugs [Member]
Inventory [Abstract]
Total inventories	29,599	25,674	28,897
Oral Pharmaceuticals [Member]
Inventory [Abstract]
Total inventories	$ 12,287	$ 10,802	$ 5,632

Long-term Debt (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Long-term Debt [Abstract]
Total	$ 81,250	$ 81,250	$ 65,000
Unamortized debt issuance costs	(1,042)	(949)	(1,306)
Total debt	80,208	80,301	63,694
PNC Loan Facility [Member]
Long-term Debt [Abstract]
Total	$ 81,250	$ 81,250	$ 65,000

Leases, Related Party (FY) (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2022

USD ($)

Facility

Jun. 30, 2023

USD ($)

Dec. 31, 2021

USD ($)

^[1]

Related Party Leases [Abstract]

$ 43,724

^[1],[2]

$ 43,439

^[2]

$ 0

46,401

46,640

Related Party Leases [Abstract]

13,077

$ 12,015

$ 13,500

[1]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[2]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively

Related Parties, Transactions Notes Receivable (FY) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes Receivable Net [Abstract]
Less: Current portion of notes receivable	$ (1,492)	$ (1,797)	$ (1,812)
Notes receivable, less current portion	$ 1,752	$ 2,076	$ 3,151
Related Party [Member]
Transactions Notes Receivable [Abstract]
Amortized period for note receivable	60 months	60 months
Incremental borrowing rate	6.65%	1.57%	1.55%
Notes Receivable Net [Abstract]
Total notes receivables	$ 3,244	$ 3,873	$ 4,963
Less: Current portion of notes receivable	(1,492)	(1,797)	(1,812)
Notes receivable, less current portion	$ 1,752	2,076	3,151
Note 2 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables		1,057	1,294
Original Principal		$ 5,355
Issue Date		May 01, 2019
Maturity Date		Apr. 30, 2024
Note 3 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables		$ 119	217
Original Principal		$ 491
Issue Date		Jun. 01, 2019
Maturity Date		May 31, 2024
Note 4 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables		$ 0	259
Original Principal		$ 917
Issue Date		Aug. 01, 2019
Maturity Date		Jul. 31, 2024
Note 6 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables		$ 351	680
Original Principal		$ 1,111
Issue Date		May 22, 2020
Maturity Date		May 22, 2023
Note 8 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables		$ 2,221	2,513
Original Principal		$ 2,816
Issue Date		May 01, 2020
Maturity Date		May 01, 2025
Note 9 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables		$ 125	$ 0
Original Principal		$ 125
Issue Date		Jan. 24, 2022
Maturity Date		Jun. 30, 2023

Long-term Debt (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Debt consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
PNC Facility	$81,250	$81,250
Total	81,250	81,250
Unamortized debt issuance costs	(1,042)	(949)
Total debt	$80,208	$80,301

Debt consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
PNC Facility	$81,250	$65,000
Total	81,250	65,000
Unamortized debt issuance costs	(949)	(1,306)
Total debt	$80,301	$63,694

Leases (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Leases

9. Leases

The Company currently leases office facilities and equipment for its practices under noncancelable operating and finance lease agreements expiring on various dates through 2033. Certain of the leases contain renewal options which are exercisable at the Company’s discretion. These renewal options are considered in determining the lease term if it is reasonably certain that the Company will exercise such options. Additionally, the Company leases certain other office and medical equipment under month-to-month lease agreements.

Right-of-use assets and lease liabilities consist of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Assets
Operating lease right-of-use assets, net	$43,439	$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)	2,913	1,998
Total right-of-use assets	$46,352	$45,722
Liabilities
Current
Current portion of operating lease liabilities	$7,113	$9,177
Current portion of finance lease liabilities (included in accrued other)	623	425
Long-term	7,736	9,602
Long-term operating lease liabilities	39,527	37,224
Long-term finance lease liabilities (included in other long-term liabilities)	2,288	1,619
Total lease liabilities	$49,551	$48,445

	Six Months Ended June 30,
	2023	2022
Operating lease costs	$5,630	$6,136
Finance lease costs
Amortization of finance lease right-of-use assets	233	228
Interest on finance lease liabilities (included in interest expense)	44	41
Variable lease costs	1,162	1,370
Total lease costs	$7,069	$7,775

	Operating Lease	Finance Leases
2023 (remainder of year after June 30, 2023)	$4,271	$376
2024	10,304	753
2025	9,174	731
2026	8,897	492
2027	8,015	428
Thereafter	15,517	530
Total lease payments	56,178	3,310
Less: amount representing interest	(9,538)	(399)
Present value of lease liabilities	46,640	2,911
Less: current portion of lease liabilities	(7,113)	(623)
Long-term lease liabilities, net of current portion	$39,527	$2,288

The weighted-average remaining lease term as of June 30, 2023 and December 31, 2022 was 6.01 years and 5.68 years for operating leases and 5.00 years and 5.37 years for finance leases, respectively. The weighted-average discount rate as of June 30, 2023 and December 31, 2022 was 5.80% and 4.88% for operating leases and 5.09% and 3.60% for finance leases, respectively.

The cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2023 and 2022 is as follows:

	Six Months Ended June 30,
	2023	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$4,984	$4,826
Operating cash flows from finance leases	44	41
Financing cash flows from finance leases	233	215
ROU assets obtained in exchange for new operating lease liabilities	4,885	2,808
ROU assets obtained in exchange for new finance lease liabilities	1,103	—

At June 30, 2023, the Company had entered into two sixty-month finance leases for medical equipment that had not yet commenced. The future commitments related to these leases are approximately $3.8 million and the Company expects to take control of the leased assets early in the third quarter.

14. Leases

The Company currently leases office facilities and equipment for its practices under noncancelable operating and financing lease agreements expiring on various dates through 2032. Certain of the leases contain renewal options which are exercisable at the Company’s discretion. These renewal options are considered in determining the lease term if it is reasonably certain that the Company will exercise such options. Additionally, the Company leases certain other office and medical equipment under month-to-month lease agreements.

Leases for ten of the Company’s facilities are controlled by related parties as of December 31, 2022. See Note 13. As of December 31, 2022, the operating ROU assets, net and lease liabilities related to these properties were $13.1 million and $13.5 million, respectively.

Right-of-use assets and lease liabilities consist of the following at December 31, 2022:

Assets
Operating lease right-of-use assets, net			$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)			1,998
Total right-of-use assets			$45,722
Liabilities
Current
Current portion of operating lease liabilities			$9,177
Current portion of finance lease liabilities (included in accrued other)			425
Long-term			9,602
Long-term operating lease liabilities			37,224
Long-term finance lease liabilities (included in other long-term liabilities)			1,619
Total lease liabilities			$48,445

The components of lease costs recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) consist of the following for the year ended December 31, 2022:

Operating lease costs			$12,465
Finance lease costs
Amortization of finance lease right-of-use assets			523
Interest on finance lease liabilities (included in interest expense)			79
Variable lease costs			2,737
Total lease costs			$15,804

	Operating Leases	Finance Leases
2023	$11,215	$491
2024	10,049	491
2025	7,762	469
2026	7,448	231
2027	6,528	166
Thereafter	11,067	429
Total lease payments	54,069	2,277
Less: amount representing interest	(7,668)	(233)
Present value of lease liabilities	46,401	2,044
Less: current portion of lease liabilities	(9,177)	(425)
Long-term lease liabilities, net of current portion	$37,224	$1,619

The weighted-average remaining lease terms as of December 31, 2022 for operating leases and finance leases are 5.68 years and 5.37 years, respectively. The weighted-average discount rates as of December 31, 2022 for operating leases and finance leases are 4.88% and 3.60%, respectively.

The cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2022 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$12,590
Operating cash flows from finance leases			79
Financing cash flows from finance leases			426
ROU assets obtained in exchange for new operating lease liabilities			9,811

Total rent expense prior to the adoption of ASC 842 for the years ended December 31, 2021 and 2020 was approximately $16.2 million and $11.3 million, respectively, which is primarily included in cost of revenues on the Consolidated Statements of Operations and Comprehensive Income (Loss).

Property and Equipment, Net (FY) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2023
Property and Equipment, Net [Abstract]
Property and equipment, gross	$ 49,328	$ 43,281		$ 56,918
Accumulated depreciation and amortization	(17,348)	(10,633)		(21,246)
Property and equipment, net	31,980	32,648		35,672
Depreciation expense	6,700	6,100	$ 3,700
Leasehold Improvements [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	26,076	23,744		29,794
Furniture, Fixtures and Equipment [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	2,669	2,346		2,700
Medical Equipment [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	11,003	8,811		12,443
Computer Equipment [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	3,115	2,713		3,271
Signs [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	129	117		147
Automobiles [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	69	69		59
Software [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	4,834	4,036		4,331
Construction-in-Progress [Member]
Property and Equipment, Net [Abstract]
Property and equipment, gross	$ 1,433	$ 1,445		$ 4,173

Supplemental Condensed Balance Sheet Information, Accrued Other (Q2) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Accrued Other [Abstract]
Refund liability	$ 15,683	$ 14,544	$ 8,306
Deferred social security taxes - COVID	0	378	378
Current portion of finance lease liabilities	623	425	0
Other	2,692	2,453	5,108
Total accrued other	22,873	17,800	$ 13,792
Class A-1 [Member]
Accrued Other [Abstract]
Derivative liability	2,526	0
Total accrued other	2,600
Class C [Member]
Accrued Other [Abstract]
Derivative liability	$ 1,349	$ 0

Business (Q2) (Tables)

6 Months Ended

Jun. 30, 2023

Affiliation Agreements with Acquired Oncology Practices

During the six months ended June 30, 2023 and 2022, the Company entered into affiliation agreements with or acquired the following oncology practices.

Six Months Ended June 30, 2022		Six Months Ended June 30, 2023
State	Effective Date	State	Effective Date
Arizona	1/1/2022	Texas^(a)	6/12/2023
Georgia^(a)	1/1/2022
Louisiana^(a)	1/17/2022
Georgia^(a)	4/5/2022
Georgia^(a)	5/1/2022

(a)	The Company entered into affiliation agreements with the physicians for these respective practices. The Company evaluated each of the affiliation agreements and determined that the transactions did not represent a business combination.

Income Taxes (FY)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Income Taxes [Abstract]

Income Taxes

8. Income Taxes

12. Income Taxes

The income tax expense (benefit) in 2022, 2021, and 2020 consisted of the following:

	Year Ended December 31,
	2022	2021	2020
Current
Federal	$—	$(306)	$152
State	—	(20)	123
	—	(326)	275
Deferred
Federal	—	433	(922)
State	—	353	(136)
	—	786	(1,058)
Total income tax expense (benefit)	$—	$460	$(783)

The differences between the federal tax rate and the Company’s effective tax rate for the years ended December 31, 2022, 2021, and 2020 are as follows:

	Year Ended December 31,
	2022	2021	2020
Federal statutory income tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	(11.94)	(97.95)	(0.80)
State rate change	(2.15)	(3.41)	0.07
Other	(3.71)	3.00	0.07
Nontaxable passthrough LLC income	(87.14)	(658.26)	(27.31)
Increase in valuation allowance	83.94	864.95	3.26
Effective tax rate	—%	129.33%	(3.71)%

Components of the net deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows:

	As of December 31,
	2022	2021
Deferred tax assets
Net operating loss carryforwards	$6,589	$5,166
Accrued expenses	165	426
Deferred tax assets	6,754	5,592
Valuation allowance	(5,835)	(3,662)
Net deferred tax asset	919	1,930
Deferred tax liabilities
Prepaid expenses	—	64
Accounting method change	918	1,866
Fixed assets	1	—
Deferred tax liabilities	919	1,930
Net deferred tax asset	$—	$—

Leases, Right-of-use Assets and Lease Liabilities (Q2) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

$ 43,439

^[1]

$ 43,724

^[1],[2]

$ 0

^[2]

Operating lease right-of-use assets, net

Finance lease right-of-use assets, net (included in property and equipment, net)

$ 2,913

$ 1,998

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Property and equipment, net

Total right-of-use assets

$ 46,352

$ 45,722

Current [Abstract]

Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

$ 7,113

^[3]

$ 9,177

^[3],[4]

^[4]

Current portion of operating lease liabilities

Current portion of finance lease liabilities (included in accrued other)

$ 623

$ 425

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Liabilities, Current

Total current lease liabilities

$ 7,736

$ 9,602

Long-term [Abstract]

Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

$ 39,527

^[5]

$ 37,224

^[5],[6]

$ 0

^[6]

Long-term operating lease liabilities

Long-term finance lease liabilities (included in other long-term liabilities)

$ 2,288

$ 1,619

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Other long-term liabilities

Total lease liabilities

$ 49,551

$ 48,445

[1]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[3]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[5]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[6]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Earnings per Unit (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Basic and Diluted Earnings Per Unit

The calculation of both basic and diluted earnings per unit for the periods indicated below was as follows:

	Six Months Ended June 30,
Numerator:	2023	2022
Net loss	$(11,591)	$(4,380)
Class A Units cumulative dividends	(391)	(421)
Class A-1 Units cumulative dividends	(577)	(645)
Class C Units cumulative dividends	(327)	—
Undistributed net loss	$(12,886)	$(5,446)
Allocation of undistributed net loss:
Class A Units	(11,743)	(4,976)
Class A-1 Units	(1,143)	(470)
Class B Units	—	—
Class C Units	—	—
Undistributed net loss	$(12,886)	$(5,446)
Net loss attributable to Class A Units:
Cumulative dividends	$391	$421
Undistributed net loss	(11,743)	(4,976)
Net loss attributable to Class A Units	$(11,352)	$(4,555)
Net loss attributable to Class A-1 Units:
Cumulative dividends	$577	$645
Undistributed net loss	(1,143)	(470)
Net income (loss) attributable to Class A-1 Units	$(566)	$175
Denominator:
Weighted average Class A common Units
outstanding - basic and diluted	7,725	7,725
Weighted average Class A-1 Units
outstanding - basic and diluted	752	730
Loss per Class A Unit - basic and diluted	$(1,469)	$(590)
Earnings (loss) per Class A-1 Unit - basic and diluted	$(753)	$239

The calculation of both basic and diluted earnings (loss) per unit for the periods indicated below was as follows:

	Year Ended December 31,
	2022	2021	2020
Numerator:
Net income (loss)	$2,589	$(105)	$21,951
Class A cumulative dividends	(855)	(780)	(722)
Class A-1 cumulative dividends	(1,299)	(1,240)	(1,000)
Undistributed net income (loss)	$435	$(2,125)	$20,229
Allocation of undistributed net income (loss):
Class A units	324	(1,942)	16,423
Class A-1 units	31	(183)	1,284
Class B units	80	—	2,522
Undistributed net income (loss)	$435	$(2,125)	$20,229

	Year Ended December 31,
	2022	2021	2020
Net income (loss) attributable to Class A units:
Cumulative dividends	$855	$780	$722
Undistributed net income (loss)	324	(1,942)	16,423
Net income (loss) attributable to Class A units	$1,179	$(1,162)	$17,145
Net income (loss) attributable to Class A-1 units:
Cumulative dividends	$1,299	$1,240	$1,000
Undistributed net income (loss)	31	(183)	1,284
Net income attributable to Class A-1 units	$1,330	$1,057	$2,284
Denominator:
Weighted average Class A common units outstanding – basic and diluted	7,725	7,725	7,725
Weighted average Class A-1 common units outstanding – basic and diluted	730	730	604
Earnings (loss) per Class A unit – basic and diluted	$153	$(150)	$2,219
Earnings per Class A-1 unit – basic and diluted	$1,821	$1,447	$3,782

Condensed Consolidated Statements of Operations and Comprehensive Loss (Q2) - USD ($)
$ in Thousands

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Revenues

General and administrative expenses

$ 618,698

$ 551,948

Costs and expenses

Cost of revenue

^[1]

569,933

513,011

^[2]

52,915

42,723

Total costs and expenses

622,848

555,734

Income (Loss) from operations

(4,150)

(3,786)

Other (expense) income, net

Interest expense

(2,968)

(1,110)

Interest income

126

(4,380)

461

Income before income taxes

(11,372)

(4,380)

Income tax expense

Loss before equity in loss of affiliate

(11,372)

(4,380)

Equity in loss of affiliate

(219)

Unrealized gains (losses) on marketable securities

(11,591)

(4,380)

Other comprehensive income (loss):

(84)

Other comprehensive gain (loss)

(84)

Comprehensive income (loss)

(11,503)

(4,464)

Patient Service Revenue, Net [Member]

Revenues

613,486

546,895

Other Revenue [Member]

Revenues

5,212

5,053

$ (11,352)

$ (4,555)

Earnings (loss) per common unit, basic (in dollars per share)

$ (1,469)

$ (590)

Earnings (loss) per common unit, diluted (in dollars per share)

$ (1,469)

$ (590)

Weighted average units outstanding, basic (in shares)

7,725

Weighted average units outstanding, diluted (in shares)

7,725

$ (566)

$ 175

Earnings (loss) per common unit, basic (in dollars per share)

$ (753)

$ 239

Earnings (loss) per common unit, diluted (in dollars per share)

$ (753)

$ 239

Weighted average units outstanding, basic (in shares)

752

730

Weighted average units outstanding, diluted (in shares)

752

730

Class C Units [Member]

$ 327

$ 0

[1]	Includes related party inventory expense of $500,569 and $446,594 for the six months ended June 30, 2023 and 2022, respectively
[2]	Includes related party rent of $1,358 and $1,358 for the six months ended June 30, 2023 and 2022, respectively

Leases (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Leases

9. Leases

Right-of-use assets and lease liabilities consist of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Assets
Operating lease right-of-use assets, net	$43,439	$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)	2,913	1,998
Total right-of-use assets	$46,352	$45,722
Liabilities
Current
Current portion of operating lease liabilities	$7,113	$9,177
Current portion of finance lease liabilities (included in accrued other)	623	425
Long-term	7,736	9,602
Long-term operating lease liabilities	39,527	37,224
Long-term finance lease liabilities (included in other long-term liabilities)	2,288	1,619
Total lease liabilities	$49,551	$48,445

	Six Months Ended June 30,
	2023	2022
Operating lease costs	$5,630	$6,136
Finance lease costs
Amortization of finance lease right-of-use assets	233	228
Interest on finance lease liabilities (included in interest expense)	44	41
Variable lease costs	1,162	1,370
Total lease costs	$7,069	$7,775

	Operating Lease	Finance Leases
2023 (remainder of year after June 30, 2023)	$4,271	$376
2024	10,304	753
2025	9,174	731
2026	8,897	492
2027	8,015	428
Thereafter	15,517	530
Total lease payments	56,178	3,310
Less: amount representing interest	(9,538)	(399)
Present value of lease liabilities	46,640	2,911
Less: current portion of lease liabilities	(7,113)	(623)
Long-term lease liabilities, net of current portion	$39,527	$2,288

The cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2023 and 2022 is as follows:

	Six Months Ended June 30,
	2023	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$4,984	$4,826
Operating cash flows from finance leases	44	41
Financing cash flows from finance leases	233	215
ROU assets obtained in exchange for new operating lease liabilities	4,885	2,808
ROU assets obtained in exchange for new finance lease liabilities	1,103	—

14. Leases

Right-of-use assets and lease liabilities consist of the following at December 31, 2022:

Assets
Operating lease right-of-use assets, net			$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)			1,998
Total right-of-use assets			$45,722
Liabilities
Current
Current portion of operating lease liabilities			$9,177
Current portion of finance lease liabilities (included in accrued other)			425
Long-term			9,602
Long-term operating lease liabilities			37,224
Long-term finance lease liabilities (included in other long-term liabilities)			1,619
Total lease liabilities			$48,445

The components of lease costs recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) consist of the following for the year ended December 31, 2022:

Operating lease costs			$12,465
Finance lease costs
Amortization of finance lease right-of-use assets			523
Interest on finance lease liabilities (included in interest expense)			79
Variable lease costs			2,737
Total lease costs			$15,804

	Operating Leases	Finance Leases
2023	$11,215	$491
2024	10,049	491
2025	7,762	469
2026	7,448	231
2027	6,528	166
Thereafter	11,067	429
Total lease payments	54,069	2,277
Less: amount representing interest	(7,668)	(233)
Present value of lease liabilities	46,401	2,044
Less: current portion of lease liabilities	(9,177)	(425)
Long-term lease liabilities, net of current portion	$37,224	$1,619

The cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2022 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$12,590
Operating cash flows from finance leases			79
Financing cash flows from finance leases			426
ROU assets obtained in exchange for new operating lease liabilities			9,811

Other Receivables (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Other Receivables [Abstract]

Other receivables consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Rebates receivable	$32,771	$27,955
Other	158	246
Total other receivables	$32,929	$28,201

Other receivables consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Rebates receivable	$27,955	$24,950
Other	246	128
Total other receivables	$28,201	$25,078

Equity, Liquidation Preferences (Q2) (Details) - Class C Units [Member]	6 Months Ended
	Jun. 30, 2023
Liquidation Preferences [Abstract]
Percentage of liquidation preference if exit event occurs prior to june 7, 2024	125.00%
Percentage of liquidation preference if exit event occurs after june 7, 2024 but prior to June 7, 2025	120.00%
Percentage of liquidation preference if exit event occurs after june 7, 2025 but prior to June 7, 2026	115.00%
Percentage of liquidation preference if exit event occurs after june 7, 2026 but prior to June 7, 2027	110.00%
Percentage of liquidation preference if exit event occurs after june 7, 2027 but prior to June 7, 2028	105.00%
Percentage of liquidation preference if exit event occurs after june 7, 2029	100.00%

CONSOLIDATED BALANCE SHEETS (FY) (Parenthetical) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Jun. 30, 2022

Dec. 31, 2021

Assets

$ 43,439

^[1]

$ 43,724

^[1],[2]

$ 0

^[2]

122,168

^[3]

106,495

^[3],[4]

92,908

^[4]

7,113

^[5]

9,177

^[5],[6]

^[6]

$ 39,527

^[7]

$ 37,224

^[7],[8]

$ 0

^[8]

Units outstanding (in units)

7,725

Units outstanding (in units)

904

730

Units outstanding (in units)

Assets

$ 12,015

$ 13,077

117,831

102,113

$ 102,100

$ 88,799

1,923

1,836

$ 10,514

$ 11,631

[1]	Includes related party operating right-of-use assets, net of $12,015 and $13,077 at June 30, 2023 and December 31, 2022, respectively
[2]	Includes related party operating lease right-of-use assets, net of $13,077 at December 31, 2022
[3]	Includes amounts due to related party of $117,831 and $102,113 at June 30, 2023 and December 31, 2022, respectively
[4]	Includes amounts due to related party of $102,113 and $88,799 at December 31, 2022 and 2021, respectively
[5]	Includes related party current portion of operating lease liabilities of $1,923 and $1,836 at June 30, 2023 and December 31, 2022, respectively
[6]	Includes related party current portion of operating lease liabilities of $1,836 at December 31, 2022
[7]	Includes related party long-term operating lease liabilities of $10,514 and $11,631 at June 30, 2023 and December 31, 2022, respectively
[8]	Includes related party long-term operating lease liabilities of $11,631 at December 31, 2022

Long-term Debt, Credit Facilities (Q2 (Details) - USD ($) $ in Millions					1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 29, 2021	Apr. 30, 2021	Sep. 04, 2020	Apr. 22, 2019	Aug. 31, 2018	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 15, 2022	Feb. 14, 2022
Debt Instruments [Abstract]
Debt issuance cost						$ 1.1	$ 0.3
Truist Revolver [Member]
Debt Instruments [Abstract]
Line of credit maturity date				Apr. 20, 2020	Aug. 31, 2019		Sep. 03, 2021
Revolving line of credit agreement amount			$ 10.0	$ 27.0	$ 10.0
Truist Revolver [Member] \| LIBOR [Member]
Debt Instruments [Abstract]
Term of variable rate							1 month
Basis spread on interest rate					1.30%
Truist Revolver [Member] \| LIBOR [Member] \| Minimum [Member]
Debt Instruments [Abstract]
Basis spread on interest rate			3.60%
Truist Revolver [Member] \| LIBOR [Member] \| Maximum [Member]
Debt Instruments [Abstract]
Basis spread on interest rate			4.35%
PNC Line of Credit [Member]
Debt Instruments [Abstract]
Proceeds from lines of credit							$ 0.0	$ 0.0
Line of credit maturity date						Apr. 30, 2024	Apr. 30, 2024
Revolving line of credit agreement amount		$ 5.0							$ 1.0	$ 10.0
Percentage of quarterly bank fees		1.65%
Percentage of unused line fee		0.20%
PNC Line of Credit [Member] \| LIBOR [Member]
Debt Instruments [Abstract]
Basis spread on interest rate		1.65%
PNC Line of Credit [Member] \| Alternate Base Rate [Member]
Debt Instruments [Abstract]
Basis spread on interest rate		0.65%
PNC Line of Credit [Member] \| Bloomberg Short-Term Bank Yield Index [Member]
Debt Instruments [Abstract]
Basis spread on interest rate	1.65%
PNC Loan Facility [Member]
Debt Instruments [Abstract]
Proceeds from lines of credit	$ 16.3	$ 34.6
Line of credit maturity date		Apr. 30, 2024				Jun. 30, 2026	Apr. 30, 2024
Line of credit facility, maximum borrowing capacity	$ 75.0	$ 65.0								$ 125.0
Percentage of borrowing base facility limit in first year		65.00%
Percentage of borrowing base facility limit to subsequent year		75.00%
Pledged collateral as restricted cash		$ 10.0
Pledged collateral as restricted cash to be released quarterly in increments		$ 2.5
Debt issuance cost						$ 0.4	$ 0.3	$ 1.1
Minimum funding threshold multiplier						65.00%
PNC Loan Facility [Member] \| LIBOR [Member]
Debt Instruments [Abstract]
Term of variable rate						1 month	1 month
PNC Loan Facility [Member] \| Alternate Base Rate [Member]
Debt Instruments [Abstract]
Basis spread on interest rate		1.45%

Related Parties, Transactions Notes Receivable (Q2) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes Receivable Net [Abstract]
Less: Current portion of notes receivable	$ (1,492)	$ (1,797)	$ (1,812)
Notes receivable, less current portion	$ 1,752	$ 2,076	$ 3,151
Related Party [Member]
Transactions Notes Receivable [Abstract]
Amortized period for note receivable	60 months	60 months
Incremental borrowing rate	6.65%	1.57%	1.55%
Notes Receivable Net [Abstract]
Total notes receivables	$ 3,244	$ 3,873	$ 4,963
Less: Current portion of notes receivable	(1,492)	(1,797)	(1,812)
Notes receivable, less current portion	1,752	2,076	$ 3,151
Note 2 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables	1,027	1,057
Original Principal	$ 5,355
Issue Date	May 01, 2019
Maturity Date	Apr. 30, 2024
Note 3 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables	$ 67	119
Original Principal	$ 491
Issue Date	Jun. 01, 2019
Maturity Date	May 31, 2024
Note 6 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables	$ 0	351
Original Principal	$ 1,111
Issue Date	May 22, 2020
Maturity Date	May 22, 2023
Note 8 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables	$ 2,150	2,221
Original Principal	$ 2,816
Issue Date	May 01, 2020
Maturity Date	May 01, 2025
Note 9 [Member] \| Related Party [Member]
Notes Receivable Net [Abstract]
Total notes receivables	$ 0	$ 125
Original Principal	$ 125
Issue Date	Jan. 24, 2022
Maturity Date	Jun. 30, 2023

Earnings per Unit (Q2)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Earnings Per Unit

12. Earnings per Unit

The calculation of both basic and diluted earnings per unit for the periods indicated below was as follows:

	Six Months Ended June 30,
Numerator:	2023	2022
Net loss	$(11,591)	$(4,380)
Class A Units cumulative dividends	(391)	(421)
Class A-1 Units cumulative dividends	(577)	(645)
Class C Units cumulative dividends	(327)	—
Undistributed net loss	$(12,886)	$(5,446)
Allocation of undistributed net loss:
Class A Units	(11,743)	(4,976)
Class A-1 Units	(1,143)	(470)
Class B Units	—	—
Class C Units	—	—
Undistributed net loss	$(12,886)	$(5,446)
Net loss attributable to Class A Units:
Cumulative dividends	$391	$421
Undistributed net loss	(11,743)	(4,976)
Net loss attributable to Class A Units	$(11,352)	$(4,555)
Net loss attributable to Class A-1 Units:
Cumulative dividends	$577	$645
Undistributed net loss	(1,143)	(470)
Net income (loss) attributable to Class A-1 Units	$(566)	$175
Denominator:
Weighted average Class A common Units
outstanding - basic and diluted	7,725	7,725
Weighted average Class A-1 Units
outstanding - basic and diluted	752	730
Loss per Class A Unit - basic and diluted	$(1,469)	$(590)
Earnings (loss) per Class A-1 Unit - basic and diluted	$(753)	$239

The total number of shares that are potentially dilutive is 2,837 shares of the Class C Units for the six months ended June 30, 2023. The Class C Units are convertible to Class A Units.

17. Earnings (Loss) Per Unit

The calculation of both basic and diluted earnings (loss) per unit for the periods indicated below was as follows:

	Year Ended December 31,
	2022	2021	2020
Numerator:
Net income (loss)	$2,589	$(105)	$21,951
Class A cumulative dividends	(855)	(780)	(722)
Class A-1 cumulative dividends	(1,299)	(1,240)	(1,000)
Undistributed net income (loss)	$435	$(2,125)	$20,229
Allocation of undistributed net income (loss):
Class A units	324	(1,942)	16,423
Class A-1 units	31	(183)	1,284
Class B units	80	—	2,522
Undistributed net income (loss)	$435	$(2,125)	$20,229

	Year Ended December 31,
	2022	2021	2020
Net income (loss) attributable to Class A units:
Cumulative dividends	$855	$780	$722
Undistributed net income (loss)	324	(1,942)	16,423
Net income (loss) attributable to Class A units	$1,179	$(1,162)	$17,145
Net income (loss) attributable to Class A-1 units:
Cumulative dividends	$1,299	$1,240	$1,000
Undistributed net income (loss)	31	(183)	1,284
Net income attributable to Class A-1 units	$1,330	$1,057	$2,284
Denominator:
Weighted average Class A common units outstanding – basic and diluted	7,725	7,725	7,725
Weighted average Class A-1 common units outstanding – basic and diluted	730	730	604
Earnings (loss) per Class A unit – basic and diluted	$153	$(150)	$2,219
Earnings per Class A-1 unit – basic and diluted	$1,821	$1,447	$3,782

Accrued Other (FY) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Accrued Other [Abstract]

Accrued Other

Accrued other consisted of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Refund liability	$15,683	$14,544
Class A-1 derivative liability	2,526	—
Class C derivative liability	1,349	—
Deferred social security taxes - COVID	—	378
Current portion of finance lease liabilities	623	425
Other	2,692	2,453
Total accrued other	$22,873	$17,800

Accrued other consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Refund liability	$14,544	$8,306
Deferred social security taxes – COVID	378	378
Current portion of finance lease liability	425	—
Other	2,453	5,108
Total accrued other	$17,800	$13,792

Basis of Presentation and Significant Accounting Policies, Revenue Recognition (Q2) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue Recognition [Abstract]
Revenue	$ 618,698	$ 551,948	$ 1,149,670	$ 943,747	$ 724,743
Services for Patient Visits [Member]
Revenue Recognition [Abstract]
Revenue	439,200	392,800	$ 818,500	$ 683,000	$ 542,000
Revenue Related to Clinical Trial Member [Member]
Revenue Recognition [Abstract]
Revenue	$ 1,500	$ 2,100

Leases, Weighted-average Remaining Lease Terms and Discount Rates (Q2) (Details)	Jun. 30, 2023	Dec. 31, 2022
Weighted-average Remaining Lease Terms and Discount Rates [Abstract]
Weighted-average remaining operating lease term	6 years 3 days	5 years 8 months 4 days
Weighted-average remaining finance lease term	5 years	5 years 4 months 13 days
Operating leases weighted-average discount rate	5.80%	4.88%
Finance lease weighted-average discount rate	5.09%	3.60%

Inventories (FY)

12 Months Ended

Dec. 31, 2022

Inventories [Abstract]

6. Inventories

Inventories consisted of the following at December 31, 2022 and 2021:

	As of December 31,
	2022	2021
Intravenous drugs	$25,674	$28,897
Oral pharmaceuticals	10,802	5,632
Total inventories	$36,476	$34,529

Subsequent Events and Other Matters (Q2) (Details) - Class B-1 Units [Member] - shares		1 Months Ended	2 Months Ended
	Aug. 31, 2023	Jun. 30, 2023	Aug. 31, 2023
Subsequent Event [Abstract]
Number of units granted (in shares)		351
Subsequent Event [Member]
Subsequent Event [Abstract]
Number of units granted (in shares)	415		64

Supplemental Condensed Balance Sheet Information, Inventory (Q2) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory [Abstract]
Total inventories	$ 41,886	$ 36,476	$ 34,529
Intravenous Drugs [Member]
Inventory [Abstract]
Total inventories	29,599	25,674	28,897
Oral Pharmaceuticals [Member]
Inventory [Abstract]
Total inventories	$ 12,287	$ 10,802	$ 5,632

Accrued Other (FY) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Accrued Other [Abstract]
Refund liability	$ 15,683	$ 14,544	$ 8,306
Deferred social security taxes - COVID	0	378	378
Current portion of finance lease liability	623	425	0
Other	2,692	2,453	5,108
Total accrued other	$ 22,873	$ 17,800	$ 13,792

Variable Interest Entities (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Carrying Amount of Assets and Liabilities

The assets of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Assets
Cash and cash equivalents	$24,756	$26,844
Accounts receivable	145,159	136,098
Inventories	41,886	36,476
Prepaid expenses and other current assets	679	846
Goodwill and intangibles, net	180	180
Other receivables	32,861	28,139
Other assets	1,817	1,489
Total assets	$247,338	$230,072

The liabilities of AON Partners, Partners of Maryland, AON Central Services, and MIBA as of June 30, 2023 and December 31, 2022, are as follows:

	As of June 30, 2023	As of December 31, 2022
Liabilities
Accounts payable	$120,076	$102,783
Accrued compensation and benefits	13,745	6,021
Accrued other	16,995	15,926
Other long-term liabilities	369	452
Due to AON and subsidiaries, net	126,447	128,204
Total liabilities	$277,632	$253,386

The assets of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Assets	2022	2021
Cash and cash equivalents	$26,844	$24,074
Accounts receivable	136,098	111,183
Inventories	36,476	34,529
Property and equipment, net	—	108
Prepaid expenses and other current assets	846	374
Goodwill and intangibles, net	180	180
Other receivables	28,139	24,950
Other assets	1,489	1,241
Total assets	$230,072	$196,639

The liabilities of AON Partners and Partners of Maryland as of December 31, 2022 and 2021, are as follows:

	As of December 31,
Liabilities	2022	2021
Accounts payable	$102,783	$89,275
Accrued compensation and benefits	6,021	6,504
Accrued other	15,926	9,346
Medicare advance payment	—	3,742
Other long-term liabilities	452	81
Due to AON and subsidiaries, net	128,204	102,090
Total liabilities	$253,386	$211,038

Leases (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Right-of-Use Assets and Lease Liabilities

Right-of-use assets and lease liabilities consist of the following at June 30, 2023 and December 31, 2022:

	As of June 30, 2023	As of December 31, 2022
Assets
Operating lease right-of-use assets, net	$43,439	$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)	2,913	1,998
Total right-of-use assets	$46,352	$45,722
Liabilities
Current
Current portion of operating lease liabilities	$7,113	$9,177
Current portion of finance lease liabilities (included in accrued other)	623	425
Long-term	7,736	9,602
Long-term operating lease liabilities	39,527	37,224
Long-term finance lease liabilities (included in other long-term liabilities)	2,288	1,619
Total lease liabilities	$49,551	$48,445

Right-of-use assets and lease liabilities consist of the following at December 31, 2022:

Assets
Operating lease right-of-use assets, net			$43,724
Finance lease right-of-use assets, net (included in property and equipment, net)			1,998
Total right-of-use assets			$45,722
Liabilities
Current
Current portion of operating lease liabilities			$9,177
Current portion of finance lease liabilities (included in accrued other)			425
Long-term			9,602
Long-term operating lease liabilities			37,224
Long-term finance lease liabilities (included in other long-term liabilities)			1,619
Total lease liabilities			$48,445

Components of Lease Costs

	Six Months Ended June 30,
	2023	2022
Operating lease costs	$5,630	$6,136
Finance lease costs
Amortization of finance lease right-of-use assets	233	228
Interest on finance lease liabilities (included in interest expense)	44	41
Variable lease costs	1,162	1,370
Total lease costs	$7,069	$7,775

The components of lease costs recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) consist of the following for the year ended December 31, 2022:

Operating lease costs			$12,465
Finance lease costs
Amortization of finance lease right-of-use assets			523
Interest on finance lease liabilities (included in interest expense)			79
Variable lease costs			2,737
Total lease costs			$15,804

Maturity of Operating and Finance Lease

	Operating Lease	Finance Leases
2023 (remainder of year after June 30, 2023)	$4,271	$376
2024	10,304	753
2025	9,174	731
2026	8,897	492
2027	8,015	428
Thereafter	15,517	530
Total lease payments	56,178	3,310
Less: amount representing interest	(9,538)	(399)
Present value of lease liabilities	46,640	2,911
Less: current portion of lease liabilities	(7,113)	(623)
Long-term lease liabilities, net of current portion	$39,527	$2,288

	Operating Leases	Finance Leases
2023	$11,215	$491
2024	10,049	491
2025	7,762	469
2026	7,448	231
2027	6,528	166
Thereafter	11,067	429
Total lease payments	54,069	2,277
Less: amount representing interest	(7,668)	(233)
Present value of lease liabilities	46,401	2,044
Less: current portion of lease liabilities	(9,177)	(425)
Long-term lease liabilities, net of current portion	$37,224	$1,619

Cash Paid for Measurement of Lease Liabilities

The cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2023 and 2022 is as follows:

	Six Months Ended June 30,
	2023	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$4,984	$4,826
Operating cash flows from finance leases	44	41
Financing cash flows from finance leases	233	215
ROU assets obtained in exchange for new operating lease liabilities	4,885	2,808
ROU assets obtained in exchange for new finance lease liabilities	1,103	—

The cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2022 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$12,590
Operating cash flows from finance leases			79
Financing cash flows from finance leases			426
ROU assets obtained in exchange for new operating lease liabilities			9,811

Commitments and Contingencies (FY) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies [Abstract]
Period of initial term of agreement	5 years
Period of written notice to terminate agreement	12 months
Cost incurred under the agreement		$ 4.7	$ 18.7
Deposited additional security amount for payments under the agreement		$ 1.0

Leases, Maturity of Operating and Finance Lease (FY) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Operating Leases [Abstract]

2023

$ 10,304

$ 11,215

9,174

10,049

8,897

7,762

8,015

7,448

6,528

11,067

56,178

54,069

(9,538)

(7,668)

46,640

46,401

Long-term lease liabilities, net of current portion

(7,113)

^[1]

(9,177)

^[1],[2]

$ 0

^[2]

39,527

^[3]

37,224

^[3],[4]

^[4]

Finance Leases [Abstract]

2023

753

491

731

491

492

469

428

231

166

429

3,310

2,277

(399)

(233)

2,911

2,044