Loading...
•
Mar 31, 2023
Oscar Health Q1 2023 Earnings Report
Oscar Health's Q1 2023 earnings demonstrated YoY improvements across all KPIs.
Key Takeaways
Oscar Health reported a solid first quarter with significant year-over-year improvements. Premiums earned increased by 50% to $1.4 billion, and the net loss improved by $37.7 million to $39.6 million. Adjusted EBITDA also saw substantial improvement, reaching $51.1 million.
Direct and Assumed Policy Premiums increased by 2% YoY to $1.7 billion.
Premiums earned increased 50% YoY to $1.4 billion.
Medical Loss Ratio improved by 108 bps YoY to 76.3%.
Net loss improved by $37.7 million YoY to $39.6 million.
Oscar Health
Oscar Health
Forward Guidance
Oscar is reaffirming its full year 2023 outlook across all metrics as provided in its financial results press release dated February 9, 2023, including anticipated MLR range between 82% and 84%, and Adjusted EBITDA1 loss of ($175) million to ($75) million.