Oscar Health Q1 2024: $2.1B revenue, 46% YoY increase, first-ever profitability with $219.3M adjusted EBITDA.

Oscar Health Inc (OSCR) reported strong Q1 2024 performance, surpassing estimates with total revenue of $2.1 billion, a 46% increase year-over-year. Net income reached $177.4 million, a significant improvement from a loss of $39.8 million in the previous year. The company's medical loss ratio improved by 210 basis points year-over-year to 74.2%. Oscar Health achieved its first-ever quarter of profitability, with adjusted EBITDA of $219.3 million.

May 07, 2024
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