earnings
confidence high
sentiment positive
materiality 0.75
Oscar Health Q3 revenue $2.4B (+68% YoY); narrows loss; raises FY revenue guidance
Oscar Health, Inc.
2024-Q3 EPS reported
$0.65
revenue$6,785,128,000
- Total revenue $2.4B, +68% YoY; net loss $54.6M ($0.22 EPS) improved $10.8M YoY.
- Membership grew to 1.65M from 983k YoY, driven by Individual and Small Group (1.60M).
- Adjusted EBITDA loss $11.6M, improved $8.7M YoY; SG&A expense ratio improved to 19.0% from 22.6%.
- FY2024 revenue guidance raised to $9.2-9.3B; expects net income profitability this year.
- Medical Loss Ratio 84.6%, up 80bps YoY due to higher medical costs and risk adjustment.