Oscar Health reported a second-quarter net loss of $228 million, or $0.89 a share, reversing a $56 million profit a year earlier and missing analysts’ expectations for a $0.84 loss. Revenue rose 29% to $2.86 billion but fell short of the $2.92 billion consensus estimate. The insurer’s medical loss ratio deteriorated to 91.1% from 79.0% amid higher costs tied to sicker members and pent-up demand for care. Total membership expanded 28% to 2.03 million, contributing to top-line growth but adding to claims expenses. Despite the wider loss, Oscar reaffirmed its updated 2025 outlook, maintaining projected full-year revenue of $12.0 billion to $12.2 billion and other key metrics issued in July. Chief Executive Officer Mark Bertolini said he expects the individual market to stabilize next year and reiterated a goal of returning the company to profitability in 2026.