Oscar Health reports FY 2022 net loss $610M; guides 2023 to near breakeven adjusted EBITDA

Oscar Health, Inc.

2022-FY EPS reported -$2.85 revenue$3,963,638,000

Full-year 2022 premiums earned $3.9B, up 111% YoY; Direct & Assumed Policy Premiums $6.8B, up 99%.
Membership reached 1,151,483 as of Dec 31, 2022, a 93% increase YoY, led by Individual & Small Group.
Medical Loss Ratio improved 360 bps to 85.3%; InsuranceCo Combined Ratio improved 490 bps to 105.8%.
2023 outlook: Direct & Assumed Policy Premiums $6.4B-$6.6B, InsuranceCo Combined Ratio ≤100%.
Guides FY 2023 Adjusted EBITDA loss of ($175M)-($75M), significantly improved from ($462M) in 2022.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.72

Oscar Health, Inc. reported the fourth quarter and year ended December 31, 2022 results: net income Net loss of $610 million. Guidance reaffirmed.

Period: the fourth quarter and year ended December 31, 2022
Net income: Net loss of $610 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 9, 2023, Oscar Health, Inc. (the “Company”) announced the Company’s financial results for the fourth quarter and year ended December 31, 2022.

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Oscar Health, Inc. filing history →

Source: SEC EDGAR

accession 0001568651-23-000006

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