Oscar Health (OSCR) rockets 22% on narrower Q4 loss and impressive 2024 guidance
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Oscar Health Announces Strong Results for Fourth Quarter and Full Year 2023; Introduces Full Year 2024 Outlook Including Total Company Adjusted EBITDA Profitability
February 7, 2024 4:05 PM ESTFor the year ended December 31, 2023: Direct and Assumed Policy Premiums of $6.6 billion, a 3% decrease YoY Premiums earned of $5.7 billion, a 47% increase YoY Medical Loss Ratio of 81.6%, a 370 bps improvement YoY InsuranceCo Administrative Expense Ratio of 17.9%, a 270 bps improvement YoY InsuranceCo Combined Ratio of 99.5%, a 640 bps improvement YoY Adjusted Administrative Expense Ratio of 21.0%, a 350 bps improvement YoY Net loss of $271 million, an improvement of $339 million YoY Adjusted EBITDA loss of $45 million, an improvement of $417 million YoY
NEW YORK--(BUSINESS WIRE)-- Oscar... More
