Companies /Healthcare

Oscar Health Inc - Class A

NYSE: OSCR Healthcare Plans
$32.04
▲ $0.06 (+0.19%) today
Markets open · 10:11am ET

Q3 2025 Earnings

Reported Nov 6, 2025, 6:10am ET · SEC source
$-0.53
Beat +8.65%
EPS · est. $-0.58
$3.0B
Miss −3.12%
Revenue · est. $3.1B
+0.5%
Beating market
OSCR vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−10%−5%0+5%Nov 6Nov 7report 6:10am ETearnings−2.2%−7.2%
−10%−5%0+5%Nov 6Nov 7earnings−2.2%−7.2%
OSCR −7.2%S&P 500 −2.2%
−10%−5%0+5%Nov 6Nov 7report 6:10am ETearnings−3.7%−7.2%
−10%−5%0+5%Nov 6Nov 7earnings−3.7%−7.2%
OSCR −7.2%NASDAQ −3.7%
−27%−18%−9%0Nov 5Nov 14report 6:10am ETearnings−1.8%−28.1%
−27%−18%−9%0Nov 5Nov 14earnings−1.8%−28.1%
OSCR −28.1%S&P 500 −1.8%
−27%−18%−9%0Nov 5Nov 14report 6:10am ETearnings−3.9%−28.1%
−27%−18%−9%0Nov 5Nov 14earnings−3.9%−28.1%
OSCR −28.1%NASDAQ −3.9%
−2.76%
Day of report
+7.00%
Next session
−15.76%
One week
+2.42%
30 days

S&P 500 over the same 30 days: +1.90%.

Did OSCR Beat Earnings? Q3 2025 Results

Oscar Health delivered a mixed but ultimately encouraging third quarter, posting a narrower-than-feared loss that sent shares climbing even as revenue fell short of Wall Street's expectations. The company reported a net loss of $0.53 per diluted share, beating the consensus estimate of $0.58 by 8.65%, while revenue of $2.99 billion trailed the $3.08 billion forecast by 3.12%, though it still represented a robust 23.2% year-over-year increase driven by membership surging to approximately 2.1 million from 1.65 million a year ago. The central headwind was a sharp rise in the medical loss ratio to 88.5% from 84.6%, largely attributable to a $130 million increase in net risk adjustment transfer accruals reflecting higher average market morbidity, which widened the operating loss to $129.25 million. Importantly, Oscar reaffirmed its full-year 2025 guidance, including total revenue of $12.00 billion to $12.20 billion and a loss from operations of $200 million to $300 million, with CEO Mark Bertolini expressing confidence in expanding margins and returning to profitability in 2026 through disciplined pricing and geographic expansion.

Key Takeaways
  • Higher membership driving revenue growth to approximately 2.1 million members from 1.65 million year-over-year
  • $130 million increase in net risk adjustment transfer accrual due to higher average market morbidity pressuring MLR
  • $84 million of favorable prior period development partially offsetting risk adjustment impact
  • $22 million of favorable intra-year development
  • Greater fixed cost leverage and disciplined cost management improving SG&A expense ratio to 17.5% from 19.0%
  • Lower exchange fee rates contributing to SG&A improvement

“The individual market is the only source of affordable health coverage for 22 million people who power our economy. Our market serves the small business, service, and farming sectors, and can meet the healthcare needs of 100 million more working people. Oscar is shaping the future of individual healthcare with affordable, innovative plans and a superior member experience. Our disciplined pricing and geographic expansion position us to profitably grow market share, and we are confident in our ability to expand margins and return to profitability in 2026.”

Oscar Health CEO, on the earnings call

Forward Guidance & Outlook

Oscar reaffirmed its full year 2025 guidance across all metrics: Total Revenue of $12.0 billion to $12.2 billion, Medical Loss Ratio of 86.0% to 87.0%, SG&A Expense Ratio of 17.1% to 17.6%, and Loss from Operations of $(300) million to $(200) million. The CEO expressed confidence in expanding margins and returning to profitability in 2026.

OSCR YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$900.0M$1.8B$2.7B$2.4B$3.0BRevenue
$0$900.0M$1.8B$2.7BRevenue

OSCR Revenue by Segment

Individual & Small Group

Figures from SEC filings and company reports. Not investment advice.