Oscar vs Progressive

The making of a brand: Oscar Health redesigns its family of brands around individual choice

CMO Kristen Prestano explains how Oscar Health’s new business model connects insurance, healthcare shopping and technology through one consumer promise.

10-Q Financial Filing Analysis for Oscar (2026-08-07)

Oscar Health, Inc. reported substantial revenue growth and a return to profitability for the second quarter of 2026 ended June 30, 2026. Total revenue reached $4.88 billion for Q2 2026, up 70.4% from $2.86 billion in Q2 2025, driven by strong membership growth to approximately 3.0 million effectuated members (a 46% year-over-year increase) and disciplined rate increases. Operating performance improved significantly, posting operating income of $388.6 million and net income attributable to Oscar Health of $361.8 million, compared to an operating loss of $230.5 million and a net loss of $228.4 million in the prior-year period. The Medical Loss Ratio (MLR) improved markedly to 79.2% from 91.1% in Q2 2025, supported by disciplined pricing and favorable prior-period reserve developments. The company also maintained strong liquidity, with $4.08 billion in cash and cash equivalents, expanded short-term investments, and an undrawn $475.0 million revolving credit facility.

• Q2 2026 total revenue increased 70.4% YoY to $4.88 billion, with net income attributable to Oscar reaching $361.8 million ($1.10 diluted EPS).
• Medical Loss Ratio (MLR) improved 1,190 basis points YoY to 79.2% for Q2 2026, while the SG&A expense ratio declined to 14.2% from 18.7%.
• Total effectuated membership expanded 46% YoY to 2,963,002 members as of June 30, 2026.

Oscar Health is building the new consumer health economy

At Investor Day, Oscar Health raised its 2026 earnings outlook and outlined how its ACA leadership, CHOICE adoption, Lucie and AI advantage will support durable, profitable growth.

8-K Financial Filing Analysis for Progressive (2026-08-19)

On August 19, 2026, The Progressive Corporation submitted a Form 8-K under Item 7.01 (Regulation FD Disclosure) to announce the issuance of a news release detailing its monthly and year-to-date consolidated financial results for the period ended July 31, 2026. The operational and financial update was furnished via Exhibit 99, continuing Progressive's practice of providing regular monthly transparency into underwriting performance and premium growth to the market.

• Progressive reported monthly and year-to-date consolidated financial results for the period ended July 31, 2026.
• The financial report was furnished pursuant to Item 7.01 Regulation FD Disclosure via Exhibit 99 on August 19, 2026.
• The filing was formally authorized and signed by Carl G. Joyce, Vice President and Chief Accounting Officer.

8-K Financial Filing Analysis for Progressive (2026-09-18)

On September 18, 2026, The Progressive Corporation filed a Form 8-K under Item 7.01 (Regulation FD Disclosure) announcing the release of its monthly and year-to-date interim financial results for the period ended August 31, 2026. Progressive routinely furnishes monthly operating and financial scorecards, offering investors and market participants high-frequency visibility into its underwriting performance, premium growth, and combined ratio trends ahead of quarterly reporting cycles.

• The Progressive Corporation published interim consolidated financial results covering the month and year-to-date periods ended August 31, 2026.
• The disclosure was furnished under Item 7.01 (Regulation FD) with the full earnings press release attached as Exhibit 99.
• The report was formally authorized and executed by Carl G. Joyce, Vice President and Chief Accounting Officer, on September 18, 2026.