NYSE$OSCR
Oscar Health Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Announced results for the third quarter of 2022, demonstrating significant membership growth and improvements in key financial metrics.
Oscar Health reported an 81% year-over-year increase in membership, reaching 1,075,445 members as of September 30, 2022. The company's premiums earned increased by 116% year-over-year, and the Medical Loss Ratio (MLR) improved by 980 bps to 89.9%. Oscar Health is now targeting Total Company profitability in 2024, a year earlier than previously expected.
- Membership increased by 81% year-over-year, reaching 1,075,445 members as of September 30, 2022.
- Premiums earned increased by 116% year-over-year to $954 million.
- Medical Loss Ratio (MLR) improved by 980 bps year-over-year to 89.9%.
- The company is now targeting Total Company profitability in 2024, a year earlier than previously expected.
Headline financials
Revenue & EPS history
Oscar Health · Revenue · Quarterly
$978M
Forward guidance
Oscar Health is updating its FY22 outlook to reflect the impact of higher membership. The Company now expects Direct and Assumed Policy Premiums will be $6.7 billion to $6.9 billion and Adjusted EBITDA loss will be modestly above the ($480 million) high-end of the prior range of ($380 million) to ($480 million).
Tailwinds
- Direct and Assumed Policy premiums (in thousands) of $6,700,000 - $6,900,000
- Medical Loss Ratio near the midpoint of the 84% - 86% range
- InsuranceCo Administrative Expense Ratio at the high-end of the 19.5% - 20.5% range
- InsuranceCo Combined Ratio towards the high-end of the 104% - 106% range
- Adjusted Administrative Expense Ratio near the midpoint of the 24% - 26% range
Headwinds
- Adjusted EBITDA(1) loss (in thousands) modestly above the ($480,000) high-end of the ($480,000) - ($380,000) range
- The impact of COVID-19 on global markets, economic conditions, the healthcare industry and our results of operations, and the response by governments and other third parties
- Our ability to retain and expand our member base
- Our ability to execute our growth strategy and scale our operations
- Our ability to meet increased capital requirements as a result of expanding membership
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+3.7%
Avg return
Earnings day
+5.6%
Avg return
5 days after
+7.5%
Avg return
30 days after
64%
16 / 25 earnings
Positive
+30.0%
Q1 2025
Best reaction
-23.9%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | +22.6% | +36.6% | |
| Q4 2025 | +1.7% | +6.0% | +2.7% | |
| Q3 2025 | -2.8% | -12.8% | -1.5% | |
| Q1 2025 | +30.0% | +28.7% | +18.0% | |
| Q4 2024 | +3.1% | -3.7% | +4.5% | |
| Q3 2024 | -12.9% | -12.8% | +0.4% | |
| Q2 2024 | +7.2% | +4.4% | -1.4% | |
| Q1 2024 | +9.3% | +14.1% | +2.8% | |
| Q4 2023 | +22.7% | +27.5% | +7.7% | |
| Q3 2023 | +23.5% | +24.5% | +42.0% | |
| Q2 2023 | +8.6% | +1.9% | -10.5% | |
| Q1 2023 | -8.8% | -6.6% | +17.8% | |
| Q4 2022 | +21.0% | +36.2% | -3.9% | |
| Q3 2022 | -23.9% | -4.5% | -11.3% | |
| Q2 2022 | +19.9% | +21.1% | -3.7% | |
| Q1 2022 | -8.9% | -2.0% | -25.0% | |
| Q4 2019 | +6.3% | +2.5% | +39.1% | |
| Q4 2021 | +2.4% | +15.6% | +21.9% | |
| Q3 2020 | -2.4% | -6.3% | -12.7% | |
| Q3 2021 | -23.3% | -25.2% | -33.0% | |
| Q2 2020 | -16.4% | -11.8% | +19.4% | |
| Q2 2021 | -0.9% | -12.0% | +17.9% | |
| Q4 2020 | +15.2% | +14.5% | +23.1% | |
| Q1 2020 | +15.2% | +14.5% | +23.1% | |
| Q1 2021 | +3.6% | +4.2% | +14.0% |
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