Financial Performance - Total revenue for Q3 2025 was approximately $2.99 billion, a 23.3% increase from $2.42 billion in Q3 2024[3]. - Loss from operations for Q3 2025 was $129.3 million, compared to a loss of $48.4 million in Q3 2024[3][12]. - Net loss attributable to Oscar Health, Inc. was $137.5 million, or $(0.53) per diluted share, compared to a net loss of $54.6 million, or $(0.22) per diluted share, in Q3 2024[3][12]. - Adjusted EBITDA loss for Q3 2025 was $101.5 million, compared to a loss of $11.6 million in Q3 2024[3][12]. - Operating expenses for Q3 2025 totaled $3,115,234, a significant rise from $2,471,856 in Q3 2024, reflecting a 26% increase[21]. - Net income attributable to Oscar Health, Inc. for the three months ended September 30, 2025, was $(137,484) thousand, compared to $(54,388) thousand for the same period in 2024, indicating a significant increase in losses[36]. - The company reported earnings (loss) from operations of $(129,250) thousand for the three months ended September 30, 2025, compared to $(48,374) thousand in 2024, indicating a worsening operational performance[36]. Membership and Revenue Growth - Total membership reached 2,116,904 as of September 30, 2025, up from 1,654,284 in 2024, indicating strong growth in individual and small group offerings[4]. - Premium revenue for the nine months ended September 30, 2025, was $8,723,233, up 31.8% from $6,626,055 in the same period of 2024[21]. - Direct policy premiums for the three months ended September 30, 2025, reached $3,646,308 thousand, up from $2,687,883 thousand in 2024, representing a growth of approximately 35.8%[38]. Medical Loss Ratio and Expenses - Medical loss ratio for Q3 2025 was 88.5%, up from 84.6% in Q3 2024, primarily due to increased average market morbidity[3][12]. - Medical Loss Ratio (MLR) for Q3 2025 was 88.5%, compared to 84.6% in Q3 2024, indicating an increase in medical expenses relative to premiums[30]. - Medical expenses for the three months ended September 30, 2025, totaled $2,586,330 thousand, compared to $2,003,979 thousand in 2024, reflecting an increase of about 29.0%[38]. Cost Management - SG&A expense ratio improved to 17.5% in Q3 2025 from 19.0% in Q3 2024, attributed to better fixed cost leverage and disciplined cost management[3][12]. - SG&A expenses for the nine months ended September 30, 2025, were $1,538,836, up from $1,289,745 in the same period of 2024, reflecting a 19.3% increase[21]. - Selling, general, and administrative expenses for the three months ended September 30, 2025, were $521,592 thousand, compared to $459,522 thousand in 2024, marking an increase of approximately 13.5%[38]. Capital Structure and Guidance - Oscar Health entered into an exchange agreement to manage its capital structure, involving approximately $250 million of convertible senior notes[10][11]. - Full year 2025 revenue guidance is set between $12.0 billion and $12.2 billion, with a medical loss ratio expected between 86.0% and 87.0%[5]. - The company is focused on expanding margins and returning to profitability in 2026, supported by disciplined pricing and geographic expansion strategies[2]. Assets and Liabilities - Cash and cash equivalents as of September 30, 2025, were $2,148,865, an increase from $1,527,186 at the end of 2024[23]. - Total assets increased to $5,745,877 as of September 30, 2025, compared to $4,840,496 at the end of 2024, representing an 18.7% growth[23]. - Long-term debt rose to $686,294 as of September 30, 2025, compared to $299,555 at the end of 2024, indicating a significant increase in leverage[23]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $422,951, down from $631,373 in the same period of 2024[25]. Reinsurance and Interest Expense - Reinsurance recoverable as of September 30, 2025, was $159,391 thousand, down from $291,537 thousand as of December 31, 2024, indicating a decrease of approximately 45.5%[38]. - Interest expense for the nine months ended September 30, 2025, was $18,698 thousand, compared to $17,708 thousand in 2024, reflecting a rise of about 5.6%[36]. Stock-Based Compensation - Stock-based compensation for the nine months ended September 30, 2025, was $69,569 thousand, down from $83,969 thousand in 2024, representing a decrease of approximately 17.2%[36].

Core Insights - Oscar Health is launching new health plans for individuals, families, and businesses in Tampa for the 2026 Open Enrollment period [1] Group 1 - The new health plans will be available on the individual marketplace [1]

Core Insights - Oscar Health is launching new health plans for individuals, families, and businesses in Orlando for the 2026 Open Enrollment period [1] Group 1 - The new health plans will be available on the individual marketplace [1]

Core Insights - Oscar Health is launching affordable, tech-powered health insurance plans for individuals and families in Charlotte for the 2026 Open Enrollment period [1] Company Overview - Oscar Health is focusing on providing accessible health insurance options in the individual marketplace [1]

Core Insights - Oscar Health is launching new health plans for individuals in San Antonio as part of the 2026 Open Enrollment period [1] Group 1 - The new health plans are specifically designed for the individual marketplace in San Antonio [1]

Core Insights - Oscar Health is launching new health plans for individuals, families, and businesses in Arizona for the 2026 Open Enrollment period [1] Group 1 - The new health plans will be available on the individual marketplace [1] - The introduction of these plans aims to enhance access to healthcare for various demographics in Arizona [1]

Core Insights - Oscar Health (OSCR) is a health insurance provider that has gained significant attention from investors and traders in recent years [1] Company Overview - Oscar Health differentiates itself from other health insurance providers through its unique selling points [1]

Core Insights - Oscar Health Inc. (NYSE:OSCR) has seen significant stock performance, increasing by 7.88% to $21.77 following the launch of a new menopause health plan and AI tools [1][3] Product Launch - Oscar Health has partnered with Elektra Health to introduce HelloMeno, an insurance product designed for 2.3 million women over 45, focusing on perimenopause and menopause management [2] - The new product is priced at $900 annually and includes free consultations, behavioral visits, laboratory tests, and medications [3] AI Integration - Oscar Health has introduced an AI agent named Oswell, which provides on-demand support to doctors and members [4] - Oswell can access medical records and plan benefit documents to assist members with understanding medications, explaining test results, checking drug interactions, and more [4]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - A specific company is highlighted as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI technologies [3][7] Investment Landscape - Wall Street is investing hundreds of billions into AI, but there is a pressing concern regarding the energy supply needed to sustain this growth [2] - AI data centers, such as those powering large language models, consume energy equivalent to that of small cities, indicating a significant strain on global power grids [2] Company Profile - The company in focus is not a chipmaker or cloud platform but is positioned as a crucial player in the energy sector, set to benefit from the rising demand for electricity driven by AI [3][6] - It owns significant nuclear energy infrastructure, making it integral to America's future power strategy [7] Financial Position - The company is noted for being debt-free and holding cash reserves that amount to nearly one-third of its market capitalization, providing a strong financial foundation [8] - It is trading at less than 7 times earnings, suggesting it is undervalued compared to its potential [10] Market Trends - The company is positioned to capitalize on the onshoring trend driven by tariffs, as well as the surge in U.S. LNG exports under the current administration [5][14] - There is a growing recognition on Wall Street of this company's potential, as it quietly benefits from multiple market tailwinds without the high valuations typical of other energy firms [8][9] Future Outlook - The influx of talent into the AI sector is expected to drive continuous innovation and advancements, reinforcing the importance of investing in AI-related infrastructure [12] - The company is seen as a strategic investment opportunity, with potential for significant returns as the demand for AI and energy infrastructure continues to grow [15][19]

Core Insights - Elektra Health and Oscar Health have launched the first-ever menopause health plan, HelloMeno, in the ACA marketplace, aimed at providing comprehensive care for midlife women [1][2][4] Company Overview - Elektra Health is a virtual healthcare provider focused on personalized medical care for over 50 million midlife women in the U.S. navigating menopause, combining virtual care with educational resources [5] - Oscar Health is a healthcare technology company that aims to make healthcare accessible and affordable, offering individual and family plans with a focus on member engagement [6][7] Product Details - HelloMeno is designed for women over 45, providing access to clinical care, education, and support, potentially saving them up to $900 a year [2][3] - The plan includes comprehensive coverage for the whole family, with benefits specifically tailored for women experiencing menopause, emphasizing early intervention and high-value treatments [3][4] Enrollment Information - Enrollment for HelloMeno will be open from November 1, 2025, to January 15, 2026, with the plan effective from January 1, 2026, available in several states including Arizona, Florida, and Texas [4]