Oscar Health reports first annual profit as enrollment in Obamacare reaches record high

Oscar Health reported a $25 million profit for 2024, marking its first annual profit since its founding in 2012. This follows a loss of over $270 million in 2023. The company achieved record enrollment of nearly 1.7 million members. Revenue for 2024 reached over $9.1 billion, a 56% increase from $5.8 billion in 2023. In the fourth quarter alone, revenue was nearly $2.4 billion, up from $1.4 billion a year earlier. As of February 1, Oscar serves 1.8 million members, benefiting from a surge in Obamacare sign-ups. The company expects revenue between $11.2 billion and $11.3 billion for 2025.