Oscar Health, Inc. (OSCR) saw its stock soar by 5.04% in the pre-market trading session on Wednesday, driven by the company's impressive fourth-quarter 2024 earnings report and financial performance.
The healthcare technology company reported record-high revenue growth of 57% year-over-year, reaching $9.2 billion. More significantly, Oscar Health achieved adjusted EBITDA profitability of $100 million, marking a substantial $245 million improvement compared to the previous year. Additionally, the company reported net income of $25 million for the first time, a remarkable $296 million increase.
Oscar Health's strong performance can be attributed to several key factors, including record-high membership, robust retention rates, and significant market share gains in key states like Florida, Tennessee, and Texas. The company's AI-integrated technology platform has also played a crucial role in enhancing operational efficiency, member engagement, and care delivery.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.