OSCR Earnings Revenue Rises, Losses Widen As Expansion Bets Pay Off

Oscar Health (OSCR) reported fiscal 2025 Q4 earnings on Feb 13, 2026, with revenue climbing 17.3% year-over-year to $2.81 billion but net losses expanding significantly. The company’s guidance for 2026 includes ambitious revenue targets and operational improvements, reflecting strategic focus amid ACA market challenges.

Revenue

The total revenue of Oscar Health increased by 17.3% to $2.81 billion in 2025 Q4, up from $2.39 billion in 2024 Q4.

Earnings/Net Income

Oscar Health's losses deepened to $1.18 per share in 2025 Q4 from a loss of $0.61 per share in 2024 Q4 (93.2% wider loss). Meanwhile, the company's net loss widened to $-352.43 million in 2025 Q4, representing a 129.9% increase from the $-153.28 million loss recorded in 2024 Q4. The EPS and net loss figures indicate deteriorating profitability despite revenue growth.

Price Action

The stock price of Oscar Health has edged down 2.54% during the latest trading day, has jumped 9.64% during the most recent full trading week, and has plummeted 22.78% month-to-date.

Post-Earnings Price Action Review

The strategy of buying Oscar Health (OSCR) shares after its revenue equalled quarter-over-quarter on the financial report release date and holding for 30 days delivered moderate returns but came with high volatility and drawdown risk. The strategy's CAGR was 11.54%, trailing the benchmark by 1.12 percentage points. With a maximum drawdown of 78.52% and a Sharpe ratio of 0.15, the strategy indicated a challenging risk-return profile, highlighting the importance of risk management in such a volatile scenario.

CEO Commentary

CEO Mark Bertolini emphasized Oscar Health’s resilience despite a challenging ACA market environment, stating, “Oscar is stronger than ever,” while acknowledging rising medical costs and operational pressures. Strategic priorities include expanding into 20 states in 2026, launching new products like HelloMeno, and accelerating AI-driven operational efficiency via the Oswell platform. Leadership remains cautious but optimistic about long-term market share gains.

Guidance

Oscar Health projects 2026 revenues of $18.7–19 billion (61% increase from 2025), with operating earnings of $250–450 million and an improved medical loss ratio of 82.4–83.4%. The company also outlined plans to expand into Alabama and Mississippi while enhancing digital engagement tools.

Additional News

UBS upgraded Oscar Health to Neutral from Sell on Jan 9, 2026, citing better-than-expected ACA enrollment trends and a fair valuation. The firm raised its price target to $17 from $12. Oscar Health also announced 2026 expansion into 20 states, including Alabama and Mississippi, alongside new product launches. Management highlighted ongoing investments in AI tools to improve operational efficiency and member engagement.