Oscar Health (OSCR) Reports $11.7B in 2025 Revenue Amid Strong Membership Growth

Oscar Health Inc. (NYSE:OSCR) is one of the best fintech stocks to invest in. On February 10, Oscar Health reported a 28% year-over-year increase in total revenue to $11.7 billion for 2025, driven by a membership base that expanded to ~2 million people. Despite this growth, the company faced financial headwinds, posting a net loss of $443 million and an adjusted EBITDA loss of roughly $280 million.

These losses were primarily attributed to a medical loss ratio that climbed to 87.4% due to higher market morbidity and increased claims utilization as members accelerated their care before the expiration of various subsidies. While medical costs rose, Oscar achieved notable operational efficiencies, improving its SG&A expense ratio by 160 basis points to 17.5%. This was largely accomplished through disciplined cost management and the integration of agentic AI features into its platform.

By early 2026, the company’s membership reached a record high of 3.4 million, reflecting a significant market share expansion from 17% to 30%. To support this scale and optimize its capital structure, the company also secured a new $475 million three-year revolving credit facility in February 2026. Oscar Health Inc. (NYSE:OSCR) now projects total revenue to surge to between $18.7 and $19 billion in 2026.

Oscar Health Inc. (NYSE:OSCR) is a healthcare technology company in the US that offers health plans to individuals, families, employees, and small group markets.

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