---
schema_version: "secwatch.filing_event.v1"
accession: "0001568651-25-000021"
form_type: "8-K"
ticker: "OSCR"
cik: "0001568651"
company_name: "Oscar Health, Inc."
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T19:26:52.258052+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Oscar Health Q2 net loss $228.4M, MLR 91.1% vs 79.0% YoY; revenue up 29%

## Summary
- Total revenue: $2.86B, up 29% YoY from $2.22B on higher membership, partly offset by risk adjustment accrual.
- Medical loss ratio worsened to 91.1% from 79.0%, driven by higher market morbidity and net risk adjustment accrual.
- Net loss attributable to Oscar of $228.4M ($0.89 per diluted share) vs net income of $56.2M ($0.20) in Q2 2024.
- Adjusted EBITDA loss $199.4M, compared to positive $104.1M a year ago; SG&A ratio improved to 18.7% from 19.6%.
- Reaffirmed full-year 2025 outlook; membership grew 28% to 2.03M; Cigna+Oscar members fell from 58k to 10k.

## SEC filing metadata
- accession: 0001568651-25-000021
- form_type: 8-K
- ticker: OSCR
- cik: 0001568651
- company_name: Oscar Health, Inc.
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1568651/000156865125000021/0001568651-25-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1568651/000156865125000021/oscr-20250806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001568651-25-000021
- JSON: https://secwatch.observer/filing/0001568651-25-000021.json
- Plain text: https://secwatch.observer/filing/0001568651-25-000021.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.