Oscar Health reported a significant turnaround in the third quarter 2026, delivering profitability that far exceeded analyst expectations. The company achieved a net income of $167.3 million, driven by aggressive membership expansion in the individual market and disciplined medical cost management.
Key Highlights
- Diluted EPS reached $0.49, vastly outperforming the consensus estimate for an $0.11 loss per share.
- Medical Loss Ratio (MLR) improved to 84.0%, a 450 basis point year-over-year expansion that beat the 85.1% target set by analysts.
- Total revenue surged 72% year-over-year to $5.14 billion, supported by a $250 million benefit from updated risk adjustment estimates and increased effectuated membership to 2.69 million.
- Management raised its full year 2026 outlook for earnings from operations to a range of $850 million to $950 million, up from the previous midpoint of $700 million.