secwatch.observer — SEC 8-K summary
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Issuer:     Oscar Health, Inc. (OSCR)
CIK:        0001568651
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001568651-23-000026
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568651/000156865123000026/0001568651-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568651/000156865123000026/oscr-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001568651-23-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer