Oscar Health posts FY2023 net loss $271M; 2024 adjusted EBITDA guidance positive $125M-$175M

Oscar Health, Inc.

2023-FY EPS reported -$1.22 revenue$5,862,869,000

FY2023 Direct and Assumed Policy Premiums $6.6B (-3% YoY); Premiums earned $5.7B (+47% YoY).
Medical Loss Ratio improved 370 bps to 81.6%; InsuranceCo Combined Ratio 99.5% (640 bps improvement).
Net loss $271M improved $339M YoY; Adjusted EBITDA loss $45M improved $417M YoY.
Membership 1,036,283 as of Dec 31, 2023, down from 1,151,483 a year ago.
2024 guidance: Total Revenue $8.3B-$8.4B; MLR 80.2%-81.2%; Adj. EBITDA $125M-$175M (positive).

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 Fiscal Year Ending December 31, 2024 results: revenue $8,300,000 to $8,400,000. Guidance initiated.

Period: Fiscal Year Ending December 31, 2024
Revenue: $8,300,000 to $8,400,000
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company anticipates Total Revenue of $8.3 billion to $8.4 billion, a Medical Loss Ratio of 80.2% to 81.2%, a SG&A Expense Ratio of 20.5% to 21.0%, and Total Company Adjusted EBITDA of $125 million to $175 million.

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Source: SEC EDGAR

accession 0001568651-24-000004

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