Oscar Health reported a net loss of $228 million in the second quarter of 2025, compared to $56 million in net income during the same quarter last year, according to its Aug. 6 financial report.
“Oscar is well-positioned to manage through the market reset in 2025,” CEO Mark Bertolini said. “We believe the market will stabilize next year, and expect to return to profitability in 2026. We are building the individual market into a healthcare marketplace for more consumers and businesses, and continue to position the company for long-term growth.”
Total revenue was $2.86 billion for the three months ended June 30, up 29% year over year.
The company’s operating loss was $230 million in Q2.
Oscar’s medical loss ratio was 91.1% in the second quarter, up from 79% during the same period last year. The company cited an increase in average market morbidity.
The company reaffirmed its updated full year 2025 outlook released in late July, expecting a full-year MLR of 86% to 87% and up to a $300 million operating loss.
As of June 30, Oscar had more than 2 million members, up 28% year over year.
