Oscar Health Q1 membership up 98% to 1.07M; net loss narrows to $77M

Oscar Health, Inc.

2022-Q1 EPS reported -$0.36 revenue$972,765,000

Direct and Assumed Policy Premiums $1.68B (+104% YoY); Premiums earned $955M (+159% YoY).
Medical Loss Ratio 77.4% (up 300 bps YoY); InsuranceCo Combined Ratio 97.2% (up 300 bps).
Net loss of $77M improved $12M YoY; Adjusted EBITDA loss $37M worsened $9M YoY.
Adjusted Administrative Expense Ratio improved 220 bps to 23.8% on operating leverage.
Reaffirmed FY2022 outlook: DAPP $6.1-6.4B, MLR 84-86%, Adj. EBITDA loss $380-480M.

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