secwatch.observer — SEC 8-K summary
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Issuer:     Oscar Health, Inc. (OSCR)
CIK:        0001568651
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001568651-23-000054
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568651/000156865123000054/0001568651-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568651/000156865123000054/oscr-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001568651-23-000054

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