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Mar 31, 2024
Oscar Health Q1 2024 Earnings Report
Oscar Health reported strong first quarter results with year-over-year improvement across all core metrics and achieved positive net income.
Key Takeaways
Oscar Health, Inc. announced its financial results for the first quarter ended March 31, 2024, with total revenue of $2.1 billion, a 46% increase year-over-year. The company reported a net income attributable to Oscar of $177.4 million, or $0.62 of diluted earnings per share.
Total Revenue was $2.1 billion, up 46% year-over-year.
Medical Loss Ratio improved to 74.2%, a 210 bps improvement year-over-year.
SG&A Expense Ratio significantly improved to 18.4%, an 870 bps improvement year-over-year.
Net Income attributable to Oscar was $177.4 million, a significant improvement of $217.1 million year-over-year.
Oscar Health
Oscar Health
Forward Guidance
Oscar is reaffirming its full year 2024 outlook across all metrics as provided in its financial results press release dated February 7, 2024.