Oscar Health Inc - OSCR STOCK NEWS

Ataraxis AI has secured a $20.4 million Series A financing round led by AIX Ventures, with participation from notable investors including Peter Thiel and former Oscar Health (NYSE: OSCR) CEO Mario Schlosser. The company's AI foundation model, Kestrel, powers their first product Ataraxis Breast, which has shown to be 30% more accurate than current breast cancer care standards in clinical validation.

The platform is set to launch for clinical use across the United States later this year. The funding will support expanding treatment selection capabilities within and beyond breast cancer. The company has formed a Clinical Advisory Board featuring oncology leaders from top health systems, including experts from Northwell Lenox Hill, Yale Cancer Center, UPMC Hillman Cancer Center, and NYU.

Oscar Health (NYSE: OSCR) reported its strongest financial performance in company history for 2024, achieving profitability for the first time. Total revenue reached $9.2 billion, up 56.5% year-over-year, driven by membership growth during Open Enrollment and Special Enrollment Period additions.

Key financial metrics include a Medical Loss Ratio of 81.7% (10 bps increase YoY), SG&A Expense Ratio of 19.1% (520 bps improvement YoY), and net income of $25.4 million ($0.10 per diluted share). Adjusted EBITDA was $199.2 million, improving by $244.5 million YoY.

For 2025, Oscar projects revenue between $11.2-11.3 billion, Medical Loss Ratio of 80.7-81.7%, and SG&A Expense Ratio of 17.6-18.1%. The company also announced Janet Liang will join as President of Oscar Health Insurance on February 24, 2025.

Oscar Health (NYSE: OSCR) announced it will release its fourth quarter and full year 2024 financial results after market close on Tuesday, February 4, 2025. The healthcare technology company will host a conference call at 5:00 PM ET on the same day to discuss the results. Investors can access the call via phone (1.855.761.5600, Conference ID: 7768132) or webcast. The call recording will be available on Oscar's investor relations website for 90 days following the event.

Oscar Health (NYSE: OSCR) announced that the Anahata Foundation, established by CEO Mark T. Bertolini, purchased 933,333 shares on the open market during the week of November 11, 2024. The company was not involved in these transactions. Bertolini expressed confidence in Oscar's future, highlighting the company's talent, products, and technology as key factors in transforming healthcare, particularly in making the individual market a preferred choice for Americans.

Oscar Health (NYSE: OSCR) announced its expansion of health insurance offerings in New Jersey for 2025. The company will provide statewide coverage through the ACA marketplace, featuring Bronze, Silver, and Gold EPO plans. The offerings include $3 medications, dedicated concierge care teams, and a healthcare app. Oscar is also introducing a new employer solution allowing businesses with fewer than 50 employees to offer health benefits through tax-free contributions. The company's Hola Oscar Spanish-language experience boasts an NPS of 87.

Oscar Health reported Q3 2024 results with total revenue of $2.4 billion, up 68% year-over-year. The company posted a Medical Loss Ratio of 84.6% (up 80 bps) and improved SG&A Expense Ratio of 19.0% (down 360 bps). Net loss was $54.6 million, improving by $10.8 million, while Adjusted EBITDA loss was $11.6 million, an $8.7 million improvement. The company updated its 2024 outlook, raising revenue guidance to $9.2-9.3 billion and projecting net income profitability for the year. Total membership reached 1,654,284, primarily driven by Individual and Small Group growth.

Oscar Health (NYSE: OSCR) announced its expansion into North Carolina's greater Charlotte and Winston-Salem areas, offering health insurance through the ACA marketplace starting January 1, 2025. The company will serve 12 counties through a partnership with Atrium Health, providing Bronze, Silver, and Gold HMO plans. The offering includes medications for $3 or less, tech-enabled healthcare services, and access to Atrium Health's network of physicians, hospitals, and clinics. The service will be available during open enrollment from November 1 to January 15, 2025.

Oscar Health (NYSE: OSCR) announced its expansion of health insurance offerings in Ohio for 2025, covering 32 counties starting January 1. The company will provide Bronze, Silver, and Gold HMO plans through the ACA marketplace, featuring $3 medications and specialized care options. New offerings include an employer-sponsored program and a multi-condition plan for diabetes, pulmonary, and cardiovascular disease management, promising 25% or more in savings. The plans include access to Cleveland Clinic networks and the Spanish-language Hola Oscar experience with an NPS of 87.

Oscar Health (NYSE: OSCR) announced its expansion of health insurance offerings in Texas for 2025, covering 49 counties starting January 1. The company will introduce new affordable health plans through the ACA marketplace, including Bronze, Silver, and Gold EPO and HMO options. Key features include $0 virtual primary and urgent care, $3 medications, and dedicated concierge care teams. New solutions include a Guided Care HMO, employer offerings, multi-condition plans with potential 25% savings, and specialized diabetes care programs. The company is also expanding its Hola Oscar Spanish-language program, which maintains an NPS of 87.