Oscar Health, Inc. reported significant financial growth in its latest quarterly filing for the period ending March 31, 2025. The company achieved total revenue of $3.046 billion, a 42.3% increase from $2.142 billion in the same period last year. This growth was primarily driven by a 43% rise in premium revenue, which reached $2.996 billion, up from $2.094 billion in the prior year. Net income attributable to Oscar Health increased to $275.3 million, compared to $177.4 million in the first quarter of 2024, resulting in a diluted earnings per share of $0.92, up from $0.62.
The company also noted a substantial increase in operating expenses, which rose to $2.749 billion from $1.957 billion year-over-year. Medical expenses accounted for $2.260 billion, reflecting a 45% increase, largely due to higher membership numbers. The medical loss ratio (MLR) increased to 75.4% from 74.2%, influenced by unfavorable prior period developments and a rise in claims. Selling, general, and administrative expenses also increased by 22% to $482.8 million, attributed to higher distribution and servicing costs associated with the growing member base.
Oscar Health's membership grew to approximately 2.04 million effectuated members as of March 31, 2025, compared to 1.45 million a year earlier. This growth was bolstered by the company's strategic focus on enhancing member experience and expanding its offerings through the +Oscar platform. The company continues to leverage its technology to improve engagement and service delivery, which has been a key factor in attracting new members.
In terms of operational developments, Oscar Health has maintained a strong liquidity position, with cash and cash equivalents totaling $2.237 billion as of March 31, 2025, up from $1.527 billion at the end of 2024. The company has also made strategic adjustments, including the termination of its co-branded partnership with Cigna, which is expected to streamline operations and focus on its core offerings. Looking ahead, Oscar Health anticipates continued growth in membership and revenue, although it remains cautious about potential regulatory changes and market dynamics that could impact its operations and financial performance.
About Oscar Health, Inc.
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