Oscar Health Inc. has released its financial results for the second quarter of 2025, reporting a total revenue of $2.86 billion, a significant increase from $2.22 billion in the same period of 2024. However, the company posted a net loss attributable to Oscar Health, Inc. of $228.4 million, compared to a net income of $56.2 million in the second quarter of 2024. The medical loss ratio rose to 91.1% from 79.0% in the previous year, while the SG&A expense ratio decreased to 18.7% from 19.6%. Oscar Health reported a loss from operations amounting to $230.5 million, compared to a gain from operations of $67.8 million in the second quarter of 2024. The company attributes the decrease to an increase in average market morbidity, resulting in a higher risk adjustment transfer accrual. Membership numbers for Oscar Health increased, with total membership reaching 2,027,148 as of June 30, 2025, up from 1,580,725 in the same period of the previous year. The Adjusted EBITDA showed a loss of $199.4 million for the second quarter of 2025, a downturn from a positive Adjusted EBITDA of $104.1 million in the second quarter of 2024.