Equity Profile

OSCR

Oscar Health, Inc.

FinancialsLife & Health Insurance$7.4B

Aug10Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Oscar Health, Inc. is a health insurance company focused on providing affordable and accessible healthcare solutions....

Key Metrics to Watch

EPS

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

N/A

Membership Growth

An increase in members is crucial for revenue growth and indicates the company's ability to attract and retain customers.

N/A

1 more metrics, 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 focused on providing affordable and accessible healthcare solutions. As a player in the life and health insurance sector, it aims to leverage technology to improve customer experiences and streamline healthcare services.

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 earnings surprise with an EPS of $2.07, significantly beating expectations. The stock reacted positively, increasing by over 10% the following day.

Management Promises & Guidance

Focus on expanding member enrollment.
Commitment to improving operational efficiencies.
Plans to enhance customer engagement through technology.

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, especially after the strong performance last quarter. However, there are concerns about sustaining growth amid rising costs in the healthcare sector.

Bull Case

If Oscar can demonstrate continued membership growth and manage claims effectively, it could lead to higher profitability and a positive stock reaction.

Bear Case

On the other hand, if the company reports higher-than-expected claims or stagnation in membership growth, it could lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the membership growth rate for Q2-2026?

Membership growth is critical for revenue and profitability, and any slowdown could raise concerns among investors.

What is the claims ratio for the quarter?

A high claims ratio could indicate rising costs and impact profitability, making this a key focus for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Oscar's potential for membership growth due to its innovative technology and customer engagement strategies.

Supporting Evidence

The last quarter showed a significant earnings surprise, indicating strong operational performance.

Options pricing suggests a larger move than historical averages, indicating potential for volatility.

Oscar's focus on technology-driven solutions could lead to better customer retention and acquisition.

Key Risk

If membership growth exceeds expectations, it could significantly alter the market's perception of Oscar's growth trajectory.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the balance between growth potential and rising healthcare costs, making these metrics pivotal.

Bull Confirmed If

Membership growth of 10% or higher compared to last quarter would support the bullish case.

Bear Confirmed If

A claims ratio exceeding 85% would confirm the bearish outlook.

Pre-Earnings Positioning

Options Market

Implied Move

±14.89%

Historical Avg

±9.2%

Pricing rich

The options market is pricing in a significant move, suggesting 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

This setup has occurred 30 times across Financials in the last 2 years. 12 of 25 faded and 13 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.4%, with a raw directional average of -0.0% (roughly flat historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Oscar beats expectations, history suggests the stock could rise by an average of 8.74%, confirming a positive growth outlook.

In-Line / Cautious

A cautious but in-line report may lead to muted stock movement, as investors await further clarity on future guidance.

Miss

Should the company miss expectations, the stock could drop by an average of 3.89%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth and retention strategies.
2Details on claims management and cost control measures.
3Any new technology initiatives aimed at improving customer experience.
4Insights into competitive positioning within the health insurance market.
5Management's outlook on future revenue and profitability.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Oscar Health, Inc. is a health insurance company focused on providing affordable and accessible healthcare solutions....

Key Metrics to Watch

EPS

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

N/A

Membership Growth

An increase in members is crucial for revenue growth and indicates the company's ability to attract and retain customers.

N/A

1 more metrics, 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

In Q1-2026, Oscar Health reported an earnings surprise with an EPS of $2.07, significantly beating expectations. The stock reacted positively, increasing by over 10% the following day.

Management Promises & Guidance

Focus on expanding member enrollment.
Commitment to improving operational efficiencies.
Plans to enhance customer engagement through technology.

Expectations

Wall Street Expectations

Bull Case

If Oscar can demonstrate continued membership growth and manage claims effectively, it could lead to higher profitability and a positive stock reaction.

Bear Case

On the other hand, if the company reports higher-than-expected claims or stagnation in membership growth, it could lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the membership growth rate for Q2-2026?

Membership growth is critical for revenue and profitability, and any slowdown could raise concerns among investors.

What is the claims ratio for the quarter?

A high claims ratio could indicate rising costs and impact profitability, making this a key focus for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Oscar's potential for membership growth due to its innovative technology and customer engagement strategies.

Supporting Evidence

The last quarter showed a significant earnings surprise, indicating strong operational performance.

Options pricing suggests a larger move than historical averages, indicating potential for volatility.

Oscar's focus on technology-driven solutions could lead to better customer retention and acquisition.

Key Risk

If membership growth exceeds expectations, it could significantly alter the market's perception of Oscar's growth trajectory.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the balance between growth potential and rising healthcare costs, making these metrics pivotal.

Bull Confirmed If

Membership growth of 10% or higher compared to last quarter would support the bullish case.

Bear Confirmed If

A claims ratio exceeding 85% would confirm the bearish outlook.

Pre-Earnings Positioning

Options Market

Implied Move

±14.89%

Historical Avg

±9.2%

Pricing rich

The options market is pricing in a significant move, suggesting 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Oscar beats expectations, history suggests the stock could rise by an average of 8.74%, confirming a positive growth outlook.

In-Line / Cautious

A cautious but in-line report may lead to muted stock movement, as investors await further clarity on future guidance.

Miss

Should the company miss expectations, the stock could drop by an average of 3.89%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth and retention strategies.
2Details on claims management and cost control measures.
3Any new technology initiatives aimed at improving customer experience.
4Insights into competitive positioning within the health insurance market.
5Management's outlook on future revenue and profitability.