Oscar Health Reports Wider 2025 Losses, Sets Ambitious 2026 Guidance

Oscar Health reported a wider net loss of $352.61 million in Q4 and $443.15 million for FY25, but set ambitious 2026 guidance with $18.70-$19.00 billion in revenue and a return to positive earnings from operations. Despite the losses, Oscar is confident in its 2026 profitability outlook, which could reshape its investment narrative and earnings assumptions. The biggest risk is that elevated medical costs and risk adjustment pressures prevent Oscar from achieving its guided earnings from operations.