Oscar Health's earnings call highlighted significant revenue growth and strategic initiatives aimed at long-term stability, including acquisitions and expense management. However, the company faces challenges with increased medical loss ratios, operating losses, and market morbidity, impacting short-term financial performance. Despite these challenges, Oscar remains optimistic about future profitability and market stabilization.

Company Guidance -

Q3 2025

During the Oscar Health Second Quarter 2025 Earnings Conference Call, the company provided updated guidance for the fiscal year 2025. Oscar anticipates total revenue of $12 billion to $12.2 billion, marking a 29% year-over-year increase from the second quarter's $2.9 billion revenue. The medical loss ratio (MLR) increased by 12 percentage points to 91.1%, influenced by heightened average market morbidity. The SG&A ratio improved by 90 basis points to 18.7% year-over-year. Despite reporting a $230 million loss from operations and a $199 million adjusted EBITDA loss in Q2, Oscar remains optimistic, reaffirming a full-year operational loss estimate between $200 million and $300 million. The company continues to target profitability in 2026, supported by strategic initiatives, including rate adjustments reflecting increased morbidity, cost-cutting measures anticipated to save $60 million in administrative expenses for 2026, and growth strategies like launching new products in collaboration with partners like Hy-Vee.

Revenue Growth

Oscar Health reported total revenue of $2.9 billion for the second quarter, a 29% increase year-over-year, driven by higher membership.

Membership Increase

The company ended the quarter with more than 2 million members, an increase of 28% year-over-year, aided by strong retention and above-market growth during open enrollment.

SG&A Ratio Improvement

Oscar Health's SG&A ratio improved by 90 basis points year-over-year to 18.7%, driven by lower exchange fee rates and fixed cost leverage.

Strategic Acquisitions

Oscar announced acquisitions of early-stage assets, including an individual market brokerage, a direct enrollment technology platform, and a consumer education website, to diversify its business.

ICHRA Product Launch

Oscar is launching a new ICHRA product with Hy-Vee, Inc., offering superior benefits, including concierge medicine at an affordable price.

Expense Management Initiatives

Oscar is reducing its workforce and administrative costs, expecting to eliminate approximately $60 million in administrative expenses by 2026.

Oscar Health (OSCR) Earnings, Revenues Date & History

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OSCR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	-0.55 / -	-0.22	―	―	―
Aug 06, 2025	2025 (Q2)	-0.81 / -0.89	0.2	-545.00% (-1.09)	―
May 07, 2025	2025 (Q1)	0.79 / 0.92	0.62	48.39% (+0.30)	―
Feb 04, 2025	2024 (Q4)	-0.59 / -0.62	-0.66	6.06% (+0.04)	―
Nov 07, 2024	2024 (Q3)	-0.17 / -0.22	-0.29	24.14% (+0.07)	―
Aug 07, 2024	2024 (Q2)	0.16 / 0.20	-0.07	385.71% (+0.27)	―
May 07, 2024	2024 (Q1)	0.27 / 0.62	-0.18	444.44% (+0.80)	―
Feb 07, 2024	2023 (Q4)	-0.72 / -0.66	-1.05	37.14% (+0.39)	―
Nov 07, 2023	2023 (Q3)	-0.47 / -0.29	-0.91	68.13% (+0.62)	―
Aug 08, 2023	2023 (Q2)	-0.22 / -0.07	-0.53	86.79% (+0.46)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

OSCR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$13.82	$14.34	+3.76%
May 07, 2025	$13.07	$17.02	+30.22%
Feb 04, 2025	$15.28	$15.75	+3.08%
Nov 07, 2024	$15.55	$13.64	-12.28%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.