Oscar Health smashes expectations with $4.88B revenue
- Oscar Health reported Q2 2026 revenue of $4.88 billion, up 70.4% from the prior-year quarter.
- Net income reached $361.8 million, or $1.10 per diluted share, compared with a $228.4 million loss.
- The company doubled the midpoint of its 2026 earnings-from-operations outlook after medical costs declined relative to premium revenue.
Oscar Health (NYSE:OSCR) reported Q2 2026 revenue of $4.88 billion and net income of $361.8 million, reversing the prior-year loss.
Revenue increased from $2.86 billion and exceeded the $4.73 billion analyst estimate, while diluted EPS of $1.10 beat the $0.40 consensus.
The medical loss ratio improved to 79.2%, the SG&A expense ratio fell to 14.2%, and adjusted EBITDA reached $415.3 million.
Looking ahead, Oscar raised its 2026 operating-earnings forecast to $500–$700 million.
Following the announcement, Oscar Health's share price was up 8.9% at approximately $32.79 in premarket trading.
Membership increased to approximately 2.96 million from 2.03 million as higher enrolment and rate increases supported premium-revenue growth.
Meanwhile, first-half revenue reached $9.53 billion, while net income totalled $1.04 billion and adjusted EBITDA reached $1.14 billion.
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