Oscar Health Q4 revenue misses analyst expectations

Oscar Health

10/02/2026 11:10

Overview

Healthcare technology firm's Q4 revenue missed analyst expectations

Q4 adjusted EBITDA missed analyst expectations

Company entered $475 mln revolving credit facility to enhance balance sheet

Outlook

Oscar Health forecasts 2026 revenue between $18.7 bln and $19.0 bln

Company expects 2026 medical loss ratio between 82.4% and 83.4%

Oscar Health projects 2026 SG&A expense ratio of 15.8% to 16.3%

Result Drivers

MEMBERSHIP GROWTH - Higher membership drove total revenue increase for full year 2025, despite rise in net risk adjustment transfer accrual

HIGHER UTILIZATION - Medical loss ratio increased due to higher market morbidity and utilization not fully offset by risk adjustment

COST MANAGEMENT - SG&A expense ratio decreased due to fixed cost leverage and cost management, despite higher risk adjustment impact

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$2.81 bln
$3.12 bln (10 Analysts)
Q4 Net Income
-$352.61 mln
Q4 Adjusted EBITDA
Miss
-$307.78 mln
-$202.33 mln (8 Analysts)
Q4 Operating Expenses
$3.14 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 4 "sell" or "strong sell"

The average consensus recommendation for the life & health insurance peer group is "buy."

Wall Street's median 12-month price target for Oscar Health Inc is $17.00, about 34.3% above its February 9 closing price of $12.66

Press Release: ID:nBwb4hpM2a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)