NYSE$OSCR
Oscar Health Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Oscar Health reported strong third quarter results with significant year-over-year improvement across all core ratios.
Oscar Health announced its financial results for Q3 2023, showcasing significant year-over-year improvements across core ratios. The company is raising its full year outlook for 2023 InsuranceCo Adjusted EBITDA and consolidated Adjusted EBITDA, projecting profitability in its insurance business in 2023 and Total Company Adjusted EBITDA profitability in 2024.
- Direct and Assumed Policy Premiums decreased by 5% YoY to $1.6 billion.
- Premiums earned increased by 46% YoY to $1.4 billion.
- Net loss improved by $127.8 million YoY to $65.7 million.
- Adjusted EBITDA loss improved by $139.5 million YoY to $20.3 million.
Headline financials
Revenue & EPS history
Oscar Health · Revenue · Quarterly
$1.44B
Forward guidance
Oscar Health is raising its full year 2023 outlook for InsuranceCo Adjusted EBITDA and consolidated Adjusted EBITDA to reflect year-to-date outperformance. The Company projects InsuranceCo Adjusted EBITDA to be in the $155 million to $165 million range and consolidated Adjusted EBITDA loss to be in the ($60) million to ($50) million range.
Tailwinds
- Direct and Assumed Policy premiums at the high-end of the $6.4 billion - $6.6 billion range
- Medical Loss Ratio at the low-end of the 82% - 84% range
- InsuranceCo Administrative Expense Ratio near the midpoint of the 17% - 18% range
- InsuranceCo Adjusted EBITDA of $155 million - $165 million, above the high-end of the prior range of $20 million - $120 million
- Adjusted Administrative Expense Ratio near the midpoint of the 20.5% - 21.5% range
Headwinds
- Adjusted EBITDA loss of ($60) million - ($50) million, above the high-end of the prior range of ($175) million - ($75) million
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 2023
+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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro