NYSE$OSCR
Oscar Health Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Oscar Health reported strong revenue growth and improved financial performance.
Oscar Health announced positive third quarter results, demonstrating strong revenue growth and improved financial performance. The company is updating its full year 2024 outlook to reflect year-to-date performance and expects to deliver positive adjusted EBITDA and net income profitability this year.
- Total revenue increased by 68% year-over-year to $2.4 billion, driven by higher membership and rate increases.
- Medical Loss Ratio increased 80 bps year-over-year to 84.6%, due to modestly higher medical costs.
- SG&A Expense Ratio improved 360 bps year-over-year to 19.0%, driven by improved fixed cost leverage and variable cost efficiencies.
- Net loss attributable to Oscar improved by $10.8 million year-over-year to $54.6 million.
Headline financials
Revenue & EPS history
Oscar Health · Revenue · Quarterly
$2.42B
Forward guidance
Oscar is updating its full year 2024 outlook to reflect year-to-date performance. The Company projects Revenue to be in the $9.2 billion to $9.3 billion range, $200 million above the prior range of $9.0 billion to $9.1 billion, and a lower SG&A Expense Ratio in the range of 19.4% to 19.6%. Additionally, the Company now projects Medical Loss Ratio to be towards the high-end of the prior range of 80.5% to 81.5%, and Adjusted EBITDA to be towards the high-end of the prior range of $160 million to $210 million. The Company also expects to achieve net income profitability this year.
Tailwinds
- Revenue to be in the $9.2 billion to $9.3 billion range, $200 million above the prior range.
- SG&A Expense Ratio in the range of 19.4% to 19.6%.
- Medical Loss Ratio to be towards the high-end of the prior range of 80.5% to 81.5%.
- Adjusted EBITDA to be towards the high-end of the prior range of $160 million to $210 million.
- Company expects to achieve net income profitability this year.
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 2024
+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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