Start Time: 08:00 January 1, 0000 8:36 AM ET Oscar Health, Inc. (NYSE:OSCR) Q3 2024 Earnings Call November 07, 2024, 08:00 AM ET Company Participants Mark Bertolini - CEO Scott Blackley - Chief Financial Officer Chris Potochar - VP, Treasury and IR Conference Call Participants Stephen Baxter - Wells Fargo John Ransom - Raymond James Jessica Tassan - Piper Sandler Joshua Raskin - Nephron Research Michael Ha - Baird Adam Ron - Bank of America Operator Good morning. My name is Angela, and I will be your confer ...

Membership and Growth - As of September 30, 2024, Oscar Health, Inc. has approximately 1.65 million members, reflecting the company's member-first philosophy and innovative approach to care[93] - Membership increased by 671,124, or 68%, as of September 30, 2024, compared to September 30, 2023, driven by strong retention and new enrollments[117] - The company expects transitions from Medicaid and CHIP coverage to ACA marketplace plans to contribute to growth in the ACA marketplace[110] Financial Performance - Total revenue for the three months ended September 30, 2024, was $2,423.5 million, up from $1,440.0 million in the same period of 2023, representing a 68.3% increase[1] - Premium revenue increased by $976.2 million, or 70%, for the three months ended September 30, 2024, compared to the same period in 2023[118] - Medical expenses increased by $840.8 million, or 72%, for the three months ended September 30, 2024, compared to the same period in 2023[121] - Adjusted EBITDA for the nine months ended September 30, 2024, was $311.9 million, compared to $66.4 million for the same period in 2023[127] - Selling, general, and administrative expenses increased by $134.5 million, or 41%, for the three months ended September 30, 2024, compared to the same period in 2023[123] - Investment income increased by $8.0 million, or 19%, for the three months ended September 30, 2024, compared to the same period in 2023[119] Medical Loss Ratio and Expenses - The medical loss ratio (MLR) is a key metric indicating the ratio of medical expenses to net premiums, which is subject to federal and state minimum requirements[97] - Medical Loss Ratio (MLR) was 84.6% for the three months ended September 30, 2024, compared to 83.8% for the same period in 2023[122] - Medical expenses are influenced by seasonal patterns, with higher costs typically occurring in the second half of the year due to various factors[107] Capital and Cash Flow - The combined statutory capital and surplus of health insurance subsidiaries was $1,068.0 million as of September 30, 2024, exceeding minimum capital requirements[132] - Health insurance subsidiaries issued dividends and made loan repayments of $133 million to the Parent during the nine months ended September 30, 2024[133] - For the nine months ended September 30, 2024, the company made capital contributions of $99.8 million to its health insurance subsidiaries, compared to $16.5 million for the same period in 2023[134] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $631.4 million, an increase from a net cash outflow of $569.0 million for the same period in 2023[146] - Net cash used in investing activities for the nine months ended September 30, 2024, was $1,356.0 million, compared to net cash provided of $404.7 million for the same period in 2023[147] - Net cash provided by financing activities for the nine months ended September 30, 2024, was $64.6 million, up from $5.4 million for the same period in 2023, primarily due to proceeds from stock option exercises[148] Regulatory and Operational Developments - The company has announced it will not renew the Cigna+Oscar Small Group arrangement, effective December 31, 2024, and will exit the small group market entirely by December 15, 2024[112] - Oscar Health is monitoring regulatory developments, including changes to the ACA broker process to address unauthorized enrollment changes[111] - A cybersecurity incident involving Change Healthcare occurred on February 21, 2024, but no breach of member data has been reported[113] Investment and Financial Strategy - The company estimates that without quota share reinsurance arrangements, its health insurance subsidiaries would have needed to hold approximately $520.0 million and $447.1 million of additional capital as of September 30, 2024, and December 31, 2023, respectively[134] - The fair value of the company's investments would decrease by approximately $44.1 million with a hypothetical and immediate 1% increase in interest rates as of September 30, 2024[150] - The company has $115.0 million available to draw under its Revolving Credit Facility until December 2025, with no outstanding borrowings as of September 30, 2024[141] - The company expects cash flows from operations to primarily fund its long-term cash requirements under various contractual obligations[138] - The company’s investment policies are designed to provide liquidity, preserve capital, and maximize total return on invested assets, consistent with state requirements[144]

Oscar Health, Inc. (OSCR) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10%. A quarter ago, it was expected that this company would post earnings of $0.16 per share when it actually produced earnings of $0.20, delivering a surprise of 25%.Over the last four quarters, the company has surpas ...

Oscar Health, Inc. ir.hioscar.com News Release Oscar Health Announces Results for Third Quarter 2024 November 7, 2024 • For the quarter ended September 30, 2024: ◦ Total Revenue of $2.4 billion, a 68% increase year-over-year ◦ Medical Loss Ratio of 84.6%, an 80 bps increase year-over-year ◦ SG&A Expense Ratio of 19.0%, a 360 bps improvement year-over-year ◦ Net loss attributable to Oscar of $54.6 million, or $(0.22) of earnings per share, a $10.8 million improvement yearover-year ◦ Adjusted EBITDA loss of $ ...

Oscar Health reported a $54 million third quarter 2024 loss despite continued growth, heading into ... [+] what could be an uncertain political period under Donald Trump and Republicans in Congress. Oscar Health photo Oscar Health Thursday reported a $54 million third quarter loss despite continued growth, heading into what could be an uncertain political period under Donald Trump and Republicans in Congress. But those running the provider of individual coverage under the Affordable Care Act ssay they belie ...

In the latest market close, Oscar Health, Inc. (OSCR) reached $16.03, with a +0.38% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.05%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.18%.The company's stock has dropped by 28.48% in the past month, falling short of the Finance sector's loss of 4.85% and the S&P 500's gain of 2.76%.Market participants will be closely following the financial results of Oscar Health, Inc. in its upcoming release ...

Oscar Health, Inc. (OSCR) closed the latest trading day at $18.28, indicating a -1.08% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.45%. Coming into today, shares of the company had gained 5.78% in the past month. In that same time, the Finance sector lost 4.16%, while the S&P 500 gained 5.41%. Market participants will be closely following the financial res ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potent ...

Investors looking for stocks in the Insurance - Multi line sector might want to consider either Axa Sa (AXAHY) or Oscar Health, Inc. (OSCR) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Oscar Health, Inc. (OSCR) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Oscar Health currently has an average brokerage rec ...