Oscar Health's Obamacare Business Continues To Grow As Trump's Return Looms

Core Insights - Oscar Health reported a $54 million loss in Q3 2024 despite significant revenue growth, indicating challenges ahead in a politically uncertain environment under Donald Trump and a Republican Congress [1][4] - The company believes that its health insurance offerings under the Affordable Care Act (ACA) are well-positioned for long-term growth, aligning with Republican interests in consumer choice and free market principles [2][3] Financial Performance - Oscar's total revenue surged by 68% to $2.4 billion in Q3 2024 compared to the same period last year [5] - For the first nine months of 2024, Oscar achieved a net income of $178.9 million, a significant improvement from a loss of over $120 million during the same timeframe in 2023, driven by increased enrollment [6] - The company updated its full-year 2024 revenue outlook to between $9.2 billion and $9.3 billion, exceeding previous projections by $200 million, and anticipates net profitability for the year [7] Management and Strategy - Oscar has undergone management changes, including the hiring of former Aetna CEO Mark Bertolini, which is expected to enhance operational efficiency and growth [5][8] - The company emphasizes the role of technology in scaling its business and aims to achieve positive Adjusted EBITDA and net income profitability this year, laying a foundation for long-term goals [8]