---
schema_version: "secwatch.filing_event.v1"
accession: "0001568651-23-000026"
form_type: "8-K"
ticker: "OSCR"
cik: "0001568651"
company_name: "Oscar Health, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:05:25.206899+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Oscar Health Q1 net loss narrows to $39.6M; adjusted EBITDA turns positive at $51.1M

## Summary
- Premiums earned up 50% YoY to $1.4B; Direct & Assumed Policy Premiums $1.7B (+2% YoY).
- Medical Loss Ratio improved 108 bps YoY to 76.3%; InsuranceCo Combined Ratio 94.9% (+230 bps).
- Adjusted EBITDA of $51.1M vs. -$37.0M in prior year; net loss improved $37.7M YoY to -$39.6M.
- FY2023 outlook reaffirmed: MLR 82-84%, Adj EBITDA loss of -$175M to -$75M.
- Membership at 1.02M (down 5% YoY) but Cigna+Oscar partnership grew to 67K members.

## SEC filing metadata
- accession: 0001568651-23-000026
- form_type: 8-K
- ticker: OSCR
- cik: 0001568651
- company_name: Oscar Health, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1568651/000156865123000026/0001568651-23-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1568651/000156865123000026/oscr-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001568651-23-000026
- JSON: https://secwatch.observer/filing/0001568651-23-000026.json
- Plain text: https://secwatch.observer/filing/0001568651-23-000026.txt

## Key facts
- Earnings Releases
  Oscar Health, Inc. reported the first quarter ended March 31, 2023 results: revenue Premiums earned of $1.4 billion, net income Net loss of $39.6 million. Guidance reaffirmed.
  - Period: the first quarter ended March 31, 2023
  - Revenue: Premiums earned of $1.4 billion
  - Net income: Net loss of $39.6 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: YoY Improvements Across all KPIs May 9, 2023 • For the quarter ended March 31, 2023: ◦ Direct and Assumed Policy Premiums of $1.7 billion, a 2% increase YoY ◦ Premiums earned of $1.4 billion, a 50% increase YoY ◦ Medical Loss Ratio of 76.3%, a 108 bps improvement YoY ◦ Net loss of $39.6 million, an improvement of $37.7 million YoY ◦ Adjusted EBITDA of $51.1 million,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1568651/000156865123000026/0001568651-23-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.