Oscar Health, Inc. (OSCR) Earnings Call Transcripts
Oscar Health, Inc.'s Latest Earnings Call - June 8, 2026
In the Q2 2026 earnings call for Oscar Health, Inc. (OSCR:US), management reported a strong start to the year, reaffirming full-year guidance amid favorable membership trends and utilization metrics. The company ended open enrollment with 3.4 million members, stabilizing at approximately 3 million in Q2. Notably, the final 2025 Wakely report revealed a $130 million positive variance, providing a significant tailwind for 2026. Management indicated that while they are optimistic about market morbidity coming in lighter than expected, they are holding off on guidance updates pending the first 2026 Wakely report due at the end of June.
Reported metrics
| Metric | Value |
|---|---|
| Membership | 3.0M (inline) |
| Final 2025 Wakely Report Variance | $130M (positive) |
| Market Morbidity Expectations | Lighter than expected (positive) |
| Utilization Trends | Modestly favorable (positive) |
| Guidance Update | Maintained (neutral) |
| Market Contraction Estimate | 20% to 30% (neutral) |
Guidance from management
Oscar Health reaffirmed its full-year guidance but is awaiting the first 2026 Wakely report before making any updates. Management remains optimistic about favorable market conditions and utilization trends.
What management said
I think that it would -- I think that there's some important things that would cause us to need to adjust some of the key inputs that go into pricing. So we'll be carefully monitored in that.
What analysts pressed on
Analysts expressed concerns regarding the impact of regulatory changes on pricing strategies for 2027 and the overall stability of the market amid ongoing litigation. There is also apprehension about the accuracy of enrollment data in the market, as highlighted by the Paragon report.
Main topics on the call
- Membership Trends — Oscar Health finished open enrollment with 3.4 million members, which decreased to about 3 million at the beginning of Q2. Management noted, "trends as expected" and expressed confidence in the retention of members due t...
- Utilization Metrics — Utilization has been "modestly favorable" to expectations, with management seeing consistent improvements month over month. This trend is attributed to operational efficiencies and the use of AI in managing patient inter...
- Wakely Report Insights — The final 2025 Wakely report was $130 million favorable compared to prior accruals, indicating a positive trend in market morbidity. Management stated, "we are holding off on making any updates to our guidance at this po...
- Market Morbidity Expectations — Early indications suggest that market morbidity for 2026 may be lighter than previously anticipated, which could provide upside potential for the year. Management noted, "I keep looking for some piece of bad news about '...
Read the full Oscar Health, Inc. transcript (June 8, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Oscar Health, Inc.
Oscar Health, Inc. (OSCR) is a publicly listed company in the Insurance industry, within the Financials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 38 calls on record spanning May 13, 2021 to August 6, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 38 Oscar Health, Inc. earnings call transcripts on record, spanning May 13, 2021 to August 6, 2026. Based on this history, Oscar Health, Inc. reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- OSCR
- Exchange
- NYSE
- Country
- US
- Sector
- Financials
- Industry
- Insurance
- Calls on record
- 38
- First call
- May 13, 2021
- Most recent
- August 6, 2026
- Reporting cadence
- quarterly