Oscar Health swings to a $362M Q2 profit and sharply raises 2026 guidance
OSCR has more than doubled off its 52-week low of $10.69.
Summary
Oscar Health reported record first-half profitability with Q2 net income of $361.8 million and raised full-year 2026 earnings guidance to $500–$700 million, reflecting strong underwriting performance and membership growth.
Key Events · Earnings and Guidance · OSCR
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Q2 Net Income Swings to $361.8M
Net income reached $361.8 million in Q2 2026, a sharp reversal from the $228.4 million loss in Q2 2025, fueled by a 79.2% MLR and $164 million in favorable prior-period reserve development.
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Full-Year 2026 Guidance Raised
Full-year 2026 earnings from operations guidance was raised to $500–$700 million, up from $250–$450 million, while the MLR outlook improved to 81.5%–82.5% and the SG&A expense ratio to 15.6%–16.1%.
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Revenue Surges on Membership Growth
Total revenue climbed 70% year-over-year to $4.88 billion in Q2 2026, as effectuated membership expanded to 2.96 million from 2.03 million a year ago.
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Record First-Half Profitability
For the first six months of 2026, net income attributable to Oscar Health was $1.04 billion, compared to $46.9 million in the prior-year period, with Adjusted EBITDA of $1.14 billion.
Analysis · OSCR · Finance
A dramatic turnaround took shape as Oscar Health posted $361.8 million in net income for Q2 2026, reversing a $228.4 million loss a year ago. Disciplined pricing, favorable prior-period reserve development, and strong membership growth drove the result. The company lifted its full-year 2026 earnings from operations guidance to $500–$700 million, up from $250–$450 million, and improved both its medical loss ratio and SG&A expense ratio targets. With the stock trading near its 52-week high, these results validate the strategy and signal accelerating profitability in the individual health insurance market.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 43.2% of the 271 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.30%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, OSCR was trading at $34.47 on NYSE in the Finance sector, with a market capitalization of approximately $8B. The 52-week trading range was $10.69 to $33.10. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.