Earnings Call Overview - Oscar Health Inc held its Q3 2024 earnings conference call on November 7, 2024, at 8:00 AM ET [1] - The call was hosted by CEO Mark Bertolini and CFO Scott Blackley, with Chris Potochar, VP of Treasury and IR, facilitating the introduction [3] - Participants included analysts from Wells Fargo, Raymond James, Piper Sandler, Nephron Research, Baird, and Bank of America [1] Access to Earnings Information - The earnings call was accessible through the company's Investor Relations website at ir hioscar com [3] - Full details of the results and additional management commentary were available in the earnings release on the same website [3] Forward-Looking Statements - Remarks made during the call about the future were classified as forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 [4] - Actual results may differ materially from these forward-looking statements due to various important factors discussed in the company's quarterly report on Form 10-Q for the period ended June 30, 2024, and other filings [4]

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 ...

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 ...

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 ...

Oscar Health, Inc. (OSCR, Financial) experienced a significant drop in stock price, plunging 5.04%. The stock is currently valued at $19.23 per share with a trading volume of 1.242 million shares, reflecting a turnover rate of 0.51% and a price fluctuation amplitude of 6.07%. In its latest financial report, Oscar Health reported revenue of $2.219 billion and a net income of $56.21 million, translating to earnings per share of $0.24. Currently, the stock is trading at a price-to-earnings ratio of -128.40. An ...

Shares of Oscar Health Inc (OSCR, Financial) fell 3.10% in mid-day trading on Oct 2. The stock reached an intraday low of $19.22, before recovering slightly to $19.99, down from its previous close of $20.63. This places OSCR 15.97% below its 52-week high of $23.79 and 323.52% above its 52-week low of $4.72. Trading volume was 893,257 shares, 29.3% of the average daily volume of 3,050,175. Wall Street Analysts Forecast Based on the one-year price targets offered by 7 analysts, the average target price for Os ...

Oscar Health, Inc. (OSCR) closed the most recent trading day at $22.93, moving -1.46% from the previous trading session. This move lagged the S&P 500's daily loss of 0.19%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.36%. Shares of the company have appreciated by 39.09% over the course of the past month, outperforming the Finance sector's gain of 2.92% and the S&P 500's gain of 2.06%. The investment community will be closely monitoring the performance of Oscar Health, Inc. in its ...

In the latest trading session, Oscar Health, Inc. (OSCR) closed at $21, marking a +1.6% move from the previous day. This move outpaced the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 1%. Shares of the company have appreciated by 13.57% over the course of the past month, outperforming the Finance sector's gain of 4.06% and the S&P 500's gain of 4.03%. Market participants will be closely following the financial results of Oscar Health, Inc. in its upc ...