Oscar Health Q3 net loss narrows to $65.7M; raises 2023 EBITDA outlook; new +Oscar deal

Oscar Health, Inc.

2023-Q3 EPS reported -$0.55 revenue$4,431,211,000

Net loss of $65.7M vs $193.5M loss YoY; Adjusted EBITDA loss of $20.3M vs $159.8M loss YoY.
Medical Loss Ratio improved 608 bps to 83.8%; InsuranceCo Combined Ratio improved 934 bps to 101.3%.
Raises 2023 InsuranceCo Adj EBITDA guidance to $155M-$165M (from $20M-$120M); consolidated Adj EBITDA loss to ($60M)-($50M).
New multi-year +Oscar agreement with Sanford Health Plan for member engagement technology.
Direct and Assumed Policy Premiums $1.6B, down 5% YoY; Premiums earned $1.4B, up 46% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Oscar Health, Inc. reported the quarter ended September 30, 2023 results: net income Net loss of $65.7 million. Guidance raised.

Period: the quarter ended September 30, 2023
Net income: Net loss of $65.7 million
Guidance: raised
Result: reported results

Exact text from the filing

Oscar Health, Inc. (the “Company”) announced the Company’s financial results for the quarter ended September 30, 2023.

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Oscar Health, Inc. filing history →

Source: SEC EDGAR

accession 0001568651-23-000054

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