Oscar Health, Inc. Announces Unaudited Consolidated Earnings Results for the Quarter and Six Months Ended June 30, 2021
August 12, 2021 at 04:30 pm EDT
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Oscar Health, Inc. announced unaudited consolidated earnings results for the quarter and six months ended June 30, 2021. For the quarter, the company reported total revenue of $529,281,000 against $115,325,000 a year ago. Loss from operations was $72,251,000 against $39,351,000 a year ago. Net loss was $73,068,000 against $40,944,000 a year ago. Net loss per share, basic and diluted was $0.35 against $1.42 a year ago.
For six months, the company reported total revenue of $898,669,000 against $203,428,000 a year ago. Loss from operations was $134,782,000 against $135,299,000 a year ago. Net loss was $160,439,000 against $137,823,000 a year ago. Net loss per share, basic and diluted was $1.08 against $4.77 a year ago.
Oscar Health, Inc. is a health insurance company, which has built a full stack technology platform focused on serving its members. It offers individual and family, and small group plans, and +Oscar, its full stack technology platform, to others within the provider and payor space. Its individual market primarily consists of policies purchased by individuals and families through health insurance marketplaces. The small group market consists of employees of companies with up to 50 full-time workers in various states and up to 100 full-time workers in select states. It offers health plans in the individual market on exchange and off-exchange under the five metal plan categories, such as catastrophic, bronze, silver, gold, and platinum. These plans differ based on the size of the monthly premium and the level of sharing of medical costs between Oscar and its members. Oscar brings insurance products to the market to meet various healthcare needs of consumers.
OSCAR HEALTH, INC. 
