Q3: 2025-11-06 Earnings Summary
EPS of -$0.53 beats by $0.05
| Revenue of $2.99B (23.21% Y/Y) misses by $96.20M
Oscar Health, Inc. (OSCR) UBS Global Healthcare Conference 2025 November 10, 2025 4:15 PM EST
Company Participants
Richard Blackley – Chief Financial Officer
Conference Call Participants
Jonathan Yong
Presentation
Jonathan Yong
All right. Thanks, everyone, for joining us. Here we have Oscar Health’s CFO, Scott Blackley, who is joining me on stage.
Question-and-Answer Session
Jonathan Yong
So I guess we’ll kind of jump in before we talk about the other big things that have happened. But we’ll start with just your third quarter results. We obviously saw what happened. But I guess on the Wakely data, it impacted your 3Q results. Assuming it remains stable from here on out, given it was off, did you make any changes in how you were weighting the updated data for the remainder of the year?
Now on the flip side of this, you did say the FTR and other program integrity measures were not factored into it. So this theoretically could be a positive. You indicated those members tend to carry higher risk. Any color and thoughts on that?
Richard Blackley
Chief Financial Officer
Yes. In terms of the estimate, our full year guidance assumes that we don’t see any further decay in market morbidity in 2025. At this point, my best information about market morbidity is the most recent information, which is what we’ve got. We use that. We then roll that forward throughout the year with expectations for how much we and the industry — how many charts we collect, what’s the impact of that on risk score. So it’s a pretty dynamic calculation. But the inputs were based on the second quarter Wakely results.
And as you talked about, there’s always puts and takes, particularly at this time of the year, that could impact the market risk scores. And on the
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