Oscar Health Inc. (OSCR) Reports Q1 Loss of $0.98 on Revenues of $369.39M

Oscar Health Inc. (NYSE: OSCR) reported Q1 EPS of ($0.98), versus ($3.36) reported last year. Revenue for the quarter came in at $369.39 million, versus $88.1 million reported last year.

For the quarter ended March 31, 2021:

• Direct policy premiums of $820.8 million, a 43.5% increase YoY
• Premiums earned of $368.5 million, a 332.5% increase YoY
• Medical Loss Ratio of 74.4%, improved 670 bps YoY
• InsuranceCo Administrative Expense Ratio of 19.8%, improved 380 bps YoY
• InsuranceCo Combined Ratio of 94.2%, improved 1040 bps YoY
• Net loss of $(87.4) million, improved $9.5 million YoY and Adjusted EBITDA of $(26.3) million, improved $59.9 million YoY

“Our first quarter results show that our model is delivering value to the market, our provider partners and to our members,” said Mario Schlosser, CEO and Co-Founder of Oscar. “We achieved very attractive first quarter growth, while simultaneously lowering our medical loss ratio and administrative cost ratio year-over-year. This trend, coupled with the recent launch of +Oscar, positions our company well for continued sustainable growth and improving profitability.”

For earnings history and earnings-related data on Oscar Health Inc. (OSCR) click here.

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