Oscar vs SelectQuote

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.

10-K Financial Filing Analysis for SelectQuote (2026-08-25)

SelectQuote, Inc. reported its annual financial results and business overview in its Form 10-K for the fiscal year ended June 30, 2026. The company operates a technology-driven, direct-to-consumer distribution platform for insurance policies and healthcare services, leveraging proprietary AI/ML algorithms to optimize lead acquisition and customer lifetime value (LTV). During fiscal 2026, SelectQuote accelerated strategic investments in operational AI—including contact center conversational voice systems—while intentionally expanding its Healthcare Services division (anchored by SelectRx pharmacy operations and SelectPatient Management) and de-emphasizing its Auto & Home distribution business. Top carrier partners UnitedHealthcare, Humana, and Aetna represented a combined 64% of consolidated revenues. The company also disclosed active corporate initiatives including an NYSE minimum share price deficiency notice received in March 2026, for which it is seeking shareholder approval to implement a reverse stock split, and ongoing legal defense regarding a federal False Claims Act qui tam matter.

• SelectQuote's top three carrier partners (UnitedHealthcare at 39%, Humana at 13%, and Aetna at 12%) generated 64% of total consolidated revenue in fiscal year 2026.
• For the fiscal year ended June 30, 2026, the company sold over 635,000 Senior segment policies (89% Medicare Advantage) and generated more than $200 million in new premiums across its Life and Auto & Home segments.
• SelectRx grew its active patient base to over 109,000 members as of June 30, 2026, backed by fulfillment expansion at its Olathe, Kansas facility.