Oscar Health misses by $0.03, misses on revs
- Reports Q4 (Dec) loss of $0.62 per share, excluding non-recurring items, $0.03 worse than the FactSet Consensus of ($0.59); revenues rose 67.1% year/year to $2.39 bln vs the $2.46 bln FactSet Consensus.
- The Medical Loss Ratio for 2024 increased 10 bps year-over-year to 81.7%, primarily driven by SEP membership growth and an increase in our risk adjustment transfer, partially offset by favorable prior period development. Overall utilization for the year was modestly favorable compared to our pricing expectations. The SG&A Expense Ratio for 2024 improved 520 bps year-over-year to 19.1% for 2024 driven by improved fixed cost leverage and variable cost efficiencies.
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