Equity Profile

OSCR

Oscar Health, Inc.

FinancialsLife & Health Insurance$9.5B

Aug10Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Oscar Health, Inc. is a health insurance company that focuses on providing affordable health coverage through technology-driven solutions....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenue.

$-0.23

Revenue

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive insurance market.

$4.7B

Wall Street expectations, options signals, track record, and call prep available with Pro.

OSCR Q2-2026 Earnings Preview

Context

Company Snapshot

Oscar Health, Inc. is a health insurance company that focuses on providing affordable health coverage through technology-driven solutions. Operating within the Financials sector, it aims to simplify the healthcare experience for consumers while navigating the complexities of the insurance market.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-38.79%

Avg Stock Reaction

+2.43%

Last Quarter Recap

In Q1 2026, Oscar Health reported an EPS of $2.07, significantly surpassing expectations of $1.21, which led to a positive market reaction with a 10.59% increase in stock price the following day. However, revenue figures were not disclosed, leaving some uncertainty about overall performance.

Management Promises & Guidance

Focus on improving customer experience through technology.
Commitment to expanding market share in key regions.
Plans to enhance product offerings to better meet consumer needs.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Oscar Health's upcoming earnings, with expectations for a modest loss in EPS but significant revenue growth. The consensus reflects a mix of hope for continued improvement and concern over the company's ability to manage costs.

Bull Case

If Oscar can exceed EPS expectations and show strong revenue growth, it could signal a turnaround and increased investor confidence, potentially leading to a significant stock price increase.

Bear Case

Conversely, if the company fails to meet revenue expectations or reports a larger-than-expected loss, it could raise concerns about its long-term viability, resulting in a negative market reaction.

Key Metrics to Watch

EPS

$-0.23

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenue.

Revenue

$4.7B

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive insurance market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Oscar Health achieve revenue of at least $4.7B this quarter?

Revenue growth is critical for demonstrating the company's ability to attract and retain customers, which is essential for its long-term success.

Can Oscar Health narrow its EPS loss to $-0.23 or better?

A smaller loss than expected could indicate improved operational efficiency and better cost management, which would be a positive signal to investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Oscar's ability to leverage technology for cost savings, which could lead to better-than-expected margins despite revenue challenges.

Supporting Evidence

The recent EPS surprise indicates potential operational improvements not fully recognized by analysts.

Options pricing suggests greater volatility than historical averages, implying that traders expect a significant shift in sentiment.

Oscar's focus on technology could lead to lower administrative costs, enhancing profitability.

Key Risk

If revenue significantly exceeds $4.9B, it could challenge the current bearish sentiment and shift the narrative around Oscar's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing Oscar's ability to manage costs while growing revenue in a competitive insurance landscape.

Bull Confirmed If

Revenue exceeding $4.7B with EPS loss of $-0.23 or less would confirm the bull case.

Bear Confirmed If

Revenue falling below $4.5B or an EPS loss greater than $-0.31 would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±14.89%

Historical Avg

±9.2%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±14.9% while OSCR has averaged ±9.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

58.0%

Calls (691K)P/C Ratio: 0.17Puts (348K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Oscar beats expectations on both EPS and revenue, history suggests a potential stock increase of around 8.74%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further clarity from management.

Miss

If Oscar misses on EPS or revenue, history suggests a potential decline of around 3.89%, raising concerns about its operational effectiveness.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and their effectiveness.
2Any commentary on cost management initiatives and their impact on margins.
3Insights into market share growth in key regions.
4Details on new product offerings and their reception in the market.
5Management's outlook on future revenue growth and profitability.

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Company Snapshot

Oscar Health, Inc. is a health insurance company that focuses on providing affordable health coverage through technology-driven solutions....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenue.

$-0.23

Revenue

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive insurance market.

$4.7B

Wall Street expectations, options signals, track record, and call prep available with Pro.

OSCR Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-38.79%

Avg Stock Reaction

+2.43%

Last Quarter Recap

Management Promises & Guidance

Focus on improving customer experience through technology.
Commitment to expanding market share in key regions.
Plans to enhance product offerings to better meet consumer needs.

Expectations

Wall Street Expectations

Bull Case

If Oscar can exceed EPS expectations and show strong revenue growth, it could signal a turnaround and increased investor confidence, potentially leading to a significant stock price increase.

Bear Case

Conversely, if the company fails to meet revenue expectations or reports a larger-than-expected loss, it could raise concerns about its long-term viability, resulting in a negative market reaction.

Key Metrics to Watch

EPS

$-0.23

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenue.

Revenue

$4.7B

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive insurance market.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Oscar Health achieve revenue of at least $4.7B this quarter?

Revenue growth is critical for demonstrating the company's ability to attract and retain customers, which is essential for its long-term success.

Can Oscar Health narrow its EPS loss to $-0.23 or better?

A smaller loss than expected could indicate improved operational efficiency and better cost management, which would be a positive signal to investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Oscar's ability to leverage technology for cost savings, which could lead to better-than-expected margins despite revenue challenges.

Supporting Evidence

The recent EPS surprise indicates potential operational improvements not fully recognized by analysts.

Options pricing suggests greater volatility than historical averages, implying that traders expect a significant shift in sentiment.

Oscar's focus on technology could lead to lower administrative costs, enhancing profitability.

Key Risk

If revenue significantly exceeds $4.9B, it could challenge the current bearish sentiment and shift the narrative around Oscar's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing Oscar's ability to manage costs while growing revenue in a competitive insurance landscape.

Bull Confirmed If

Revenue exceeding $4.7B with EPS loss of $-0.23 or less would confirm the bull case.

Bear Confirmed If

Revenue falling below $4.5B or an EPS loss greater than $-0.31 would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±14.89%

Historical Avg

±9.2%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±14.9% while OSCR has averaged ±9.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

58.0%

Calls (691K)P/C Ratio: 0.17Puts (348K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Oscar beats expectations on both EPS and revenue, history suggests a potential stock increase of around 8.74%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further clarity from management.

Miss

If Oscar misses on EPS or revenue, history suggests a potential decline of around 3.89%, raising concerns about its operational effectiveness.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and their effectiveness.
2Any commentary on cost management initiatives and their impact on margins.
3Insights into market share growth in key regions.
4Details on new product offerings and their reception in the market.
5Management's outlook on future revenue growth and profitability.