Oscar Health Q2 net income $56.2M, rev $2.2B +46% YoY, raises FY guidance

Oscar Health, Inc.

2024-Q2 EPS reported $0.82 revenue$4,361,646,000

Net income of $56.2M ($0.20 diluted EPS) vs. loss of $15.5M a year ago.
Total revenue $2.2B, up 46% YoY driven by higher membership and rate increases.
Adjusted EBITDA $104.1M, up from $35.6M in Q2 2023; MLR improved 90bps to 79.0%.
Raised FY 2024 revenue guidance to $9.0-9.1B (prior $8.3-8.4B) and Adj EBITDA to $160-210M (prior $125-175M).
Total membership 1.58M, up 63% YoY, driven by Individual & Small Group growth.

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