Core Points
Net income for the second quarter reached US$361.8 million, or diluted earnings per share of US$1.10, a dramatic reversal from a loss of US$0.89 per share in the same period last year.
Total revenue increased 70% year-on-year to US$4.88 billion, exceeding analysts 'expectations of US$4.73 billion.
The medical claims ratio improved significantly to 79.2%, compared with 91.1% in the same period last year.
Management raised its full-year operating profit outlook to US$500 million to US$700 million from the previous US$250 million to US$450 million.
Although results far exceeded expectations, OSCR shares fell about 9% after soaring 8.9% before trading on Thursday.
Oscar Health's quarterly results on Thursday seemed strong, but investors responded with a sharp sell-off of shares.
OSCR plunged about 9% during the trading session on Thursday, August 6, completely erasing a pre-market gain of nearly 9%. Wednesday's closing price was $30.11. Despite Thursday's decline, the stock is still up 110% so far since the beginning of 2026, well above the 13% gain of the Standard and Poor's 500 index.
The health insurance company reported quarterly earnings per share of $1.10, far exceeding Wall Street's consensus forecast of $0.40. Total revenue rose 70% year-on-year to $4.88 billion, easily exceeding analysts 'forecasts of $4.73 billion.
OSCAR HEALTH $OSCR's 2026 second quarter results highlights: Revenue of $4.9 billion (expected $4.75 billion) Earnings per share of $1.10 (expected $0.39) Adjusted EBITDA of $415.3 million (expected $188 million) Net income of $361.8 million (expected $156 million) Fiscal year 2026 guidance: Revenue of $18.7 billion to $19.0 billion (expected $18.62 billion) Operating income of $500 million to $700 million
Looking forward to the first six months of 2026, Oscar will achieve net income of $1.04 billion, or $3.16 per share.

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