Oscar Health hikes 2026 outlook after record profitability during first half of the year
CEO Mark Bertolini said during Thursday’s earnings call that the company brought in $1.1 billion in earnings and $1 billion in net income for the first half of 2026.
Oscar Health reported strong financial results for the second quarter of 2026, surpassing profitability for the first half of the year. CEO Mark Bertolini stated that the company generated $1.1 billion in earnings from operations and $1 billion in net income during the first six months of the year. Revenue increased by 70% year-over-year to $4.9 billion.
While Oscar Health exceeded earnings estimates, it fell short by 0.92% in revenue forecasts. The company's medical loss ratio (MLR) improved to 79.2%, down from 91.1% year-over-year. CEO Bertolini attributed the company's success to disciplined pricing, differentiated consumer products, and a scalable technology platform. Oscar Health ended Q2 with 2.96 million members, up 46% year-over-year.
CFO Scott Blackley announced that the company's full-year earnings outlook was raised to $500 million to $700 million, up $250 million from previous guidance. Blackley also revised the total revenue expectation to $18.7 billion to $19 billion. Despite the positive performance, Oscar Health shares dropped by 13% on the day. Management explained that the company anticipates increasing membership churn in the second half of the year due to CMS program integrity processes, which could significantly impact the churn rate, potentially reaching twice the previously expected 1% to 2%.
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