Oscar Health swings to $361.8M net income on 70.4% revenue growth, 46% membership gain

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Net income reached $361.8M in Q2 2026 vs. a loss in Q2 2025; operating income swung to $388.6M from -$230.5M loss, driven by disciplined pricing and favorable reserve development.

  MD&A: Operating income swing verify on EDGAR →
• high

  Revenue grew 70.4% to $4.88B; effectuated membership rose 46% YoY to ~3.0M members, accelerating from 28% growth in the prior year.

  MD&A: Membership & revenue growth verify on EDGAR →
• high

  MLR improved 1190 basis points to 79.2% in Q2 2026 (from 91.1% in Q2 2025), reflecting disciplined pricing and favorable prior-period reserve development; prior year included large risk adjustment true-up.

  MD&A: MLR improvement verify on EDGAR →