Shares of Oscar Health, Inc. (OSCR) are skyrocketing in pre-market trading on Wednesday, surging 25.78% following the release of the company's exceptional first-quarter financial results. The health insurance technology firm significantly outperformed analyst expectations across key metrics, showcasing robust growth and improved profitability.

Oscar Health reported a first-quarter earnings per share (EPS) of $0.92, handily beating the consensus estimate of $0.79-$0.83. The company's revenue for the quarter reached $3.05 billion, a substantial 42% year-over-year increase and well above the expected $2.86-$2.87 billion. This strong top-line growth was primarily attributed to higher membership numbers.

Highlighting the company's operational efficiency, Oscar Health posted an adjusted EBITDA of $328.8 million, significantly surpassing the analyst estimate of $280.8 million. The firm also reported an impressive net income of $275.3 million, demonstrating its ability to translate growth into profitability in the competitive health insurance sector.

Mark Bertolini, CEO of Oscar Health, commented on the results, stating, "Oscar reported strong financial results in the first quarter. We delivered continued top-line growth and bottom-line performance with significant year-over-year increases in revenue and net income. We continue to expect meaningful margin expansion this year as we deliver superior value to our members and partners."

Further boosting investor confidence, Oscar Health reaffirmed its full-year 2025 guidance across all metrics. The company's medical loss ratio stood at 75.4%, while the SG&A expense ratio improved to 15.8%, down from 18.4% in the same quarter last year, indicating enhanced cost management.

As Oscar Health continues to demonstrate its ability to balance growth with profitability, the pre-market stock surge reflects investor optimism about the company's future prospects in the evolving healthcare technology landscape.