Latest news with #OSCR
Yahoo
2 days ago
- Business
- Yahoo
Oscar Health Well-Positioned To Manage Market Reset, Eyes Profitability In 2026
Oscar Health Inc. (NYSE:OSCR) reported second-quarter revenue of approximately $2.86 billion, compared to $2.2 billion a year ago, missing the consensus estimate of $2.91 billion. The sales increase was primarily driven by higher membership, partially offset by an increase in net risk adjustment transfer accrual. The healthcare technology company reported a loss of 89 cents per share, missing the consensus estimate of 86 cents.'We believe the individual market has long-term upside and is the future of healthcare,' said Mark Bertolini, CEO of Oscar Health. 'Oscar is well-positioned to manage through the market reset in 2025. We believe the market will stabilize next year, and expect to return to profitability in 2026.' The medical loss ratio was 91.1% for the second quarter of 2025, compared to 79.0% for the same quarter in 2024, primarily driven by an increase in average market morbidity that led to a higher net risk adjustment transfer accrual. The SG&A expense ratio was 18.7% as compared to 19.6%. The decrease was primarily due to lower exchange fee rates and greater fixed cost leverage, partially offset by the impact of higher risk adjustment as a percentage of premium. Medical expenses jumped from $1.71 billion to $2.55 billion during the quarter. Loss from operations was $230.5 million compared to a gain from operations of $67.8 million a year ago. View more earnings on OSCR Adjusted EBITDA loss was $199.4 million versus positive Adjusted EBITDA of $104.1 million for the second quarter of 2024. Total membership jumped from 1.58 million to 2.03 million in the quarter. The company reported an operating loss of $230.48 million and a net loss of $228.36 million, in line with preliminary loss from operations of approximately $230 million and a net loss of roughly $228 million for the second quarter of 2025. 'The individual market is a competitive healthcare marketplace that provides affordable, high-quality coverage for millions of consumers across the country. We are taking appropriate pricing actions for 2026 that reflect higher acuity in the individual market...,' Bertolini said in a July statement. Guidance: Oscar Health reaffirms its fiscal 2025 sales guidance of $12 billion to $12.2 billion, compared to the Wall Street estimate of $11.32 billion. The company expects a 2025 medical loss ratio of 86%-87%, an SG&A expense ratio of 17.1%-17.6%, and an operating loss of $ 200 million to $300 million. The company expects an Adjusted EBITDA loss of approximately $120 million, less than the operating loss. Price Action: OSCR stock is down 3.18% at $13.38 during the premarket session at the last check on Wednesday. Read Next:Photo: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Oscar Health Well-Positioned To Manage Market Reset, Eyes Profitability In 2026 originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Oscar Health Swings to Loss as Forecast, Expects Return to Profitability in 2026
Oscar Health OSCR -0.14%decrease; red down pointing triangle swung to a loss in its latest quarter as previously forecast, reflecting the financial challenges for some in the healthcare sector. The health insurance agency in July warned that it expected to report a steep loss in the quarter, citing data that showed overall ACA Marketplace risk scores rose higher than expected. It forecast a loss of $228 million and a loss from operations of $230 million.
Glasgow Times
7 days ago
- Business
- Glasgow Times
Glasgow charity probed by regulator placed in liquidation
Pollokshields Development Agency was being probed by the charity regulator OSCR amid concerns over the turnover of registration and resignations of directors. It has been revealed that it is now in provisional liquidation. READ NEXT:Orange Order issue statement after meeting with Scottish Government The charity, whose registered address is 425 Paisley Road West, was being looked into in an ongoing investigation over a number of years. In 2023, it had a freeze applied to its assets, meaning no money could be taken out of the accounts until the ban was lifted last year. According to accounts filed with Companies House, reserves fell from £66,651 in March 2023 to £672 in March 2024. Latest accounts are currently overdue by several months. The Charity is reported to have received around £1million in public money, including from Glasgow City Council. The latest Companies House information shows there were seven active directors. The charity's stated aims were "the prevention or relief of poverty", and "the advancement of education, religion, health, citizenship or community development the arts, heritage, culture or science." READ NEXT:Drivers raise fears at protest if taxi and private hire cap is lifted A statement from the liquidators said: 'None of the trustees appear willing to take responsibility for the operation of the charity or its finances. 'They seem to want to abdicate responsibility and say it was somebody else.' OSCR stated, when it instigated the inquiry: 'Pollokshields Development Agency was awarded charitable status on 16 June 2002. 'OSCR opened an inquiry into the charity in May 2023 on receipt of information alleging that charity trustees had been removed and new trustees appointed not in accordance with the terms of the constitution. 'OSCR was also informed that the current trustees had continued to carry on the activities of the charity without access to the charity's funds. 'These allegations have raised serious concerns that the charity's assets were at risk, OSCR therefore needed to undertake further inquiries to ensure the charity's assets were protected and that the charity trustees were acting in line with their legal duties.' On the provisional liquidator being, appointed OSCR said it was not as a result of OSCR's inquiry, which is ongoing.
BBC News
24-07-2025
- Health
- BBC News
Mental Health Aberdeen: Charity closes due to 'growing pressure'
An Aberdeen charity which provides mental health counselling has announced it has closed with immediate Health Aberdeen (MHA) said it had taken the decision after "working tirelessly to explore all available options."The charity - which operated for 75 years - added it faced a complex set of circumstances, including growing pressure on its a statement the charity said funding had been reduced or withdrawn and rising operational costs including a "significant increase" in National Insurance contributions led to the closure. MHA provided various services including counselling, services in schools and community projects. Announcing the closure the charity said: "Despite the team's tireless efforts to meet rising demand, our current income can no longer sustain the level of service we aim to provide. "Like many third sector organisations across the country, we are facing the stark reality of being asked to do more with less - a position that is no longer viable."MHA also called on "funders, partners, decision-makers, and government policy makers" to recognise the need for more investment in mental health services. It added: "It is vital that charities, like ours, are given the tools and resources to continue delivering essential services to those who need them most, before it's too late." 'Remaining assets' Charity regulator OSCR said: "As part of the wind-up process, they must apply to OSCR for consent. "During this process, we will engage with them to ensure that any remaining assets are used solely for charitable purposes, as required by charity law."Last year a number of charities warned they had "nowhere to cut" and their operations were in jeopardy due to the increase in employers' National UK government said at the time that it supported charities through a "world-leading tax regime which provided £6bn in relief for the sector in the last year alone".It added that an increased employment allowance would protect charities, meaning more than half of them with NI liabilities would "either gain or see no change".
The National
09-07-2025
- Politics
- The National
Scots Language Centre plunged into crisis as board members resign
Documents seen by The National reveal a breakdown in governance that has left the charity effectively non-functional, just months before its accounts are due to be filed and its core Scottish Government funding reviewed. The Scots Language Centre was founded by the late councillor John Law and for many years was based at the AK Bell Library in Perth. It is now mainly an online organisation, promoting Scots and providing information about the language to a variety of users and public bodies. Concerns have been raised with both OSCR (Office of the Scottish Charity Regulator) and the Scottish Government about potential misappropriation of funds, and the legality of decisions made during an allegedly unauthorised board meeting held in March. READ MORE: Scottish depot trying to get back pallets used in huge loyalist bonfire Treasurer Susan Grant wrote in a formal letter to the Government: 'The board were deliberately misled and given false information ... This led to the board approving a series of payments to all individuals working for the centre." That version of events is disputed by centre director, Michael Dempster. The allegations relate to payments made following a March 24 board meeting that its treasurer was reportedly not invited to. According to multiple sources, decisions made at that meeting – including salary payments and changes to financial operations – were rushed through without due oversight or qualification. In the weeks that followed, Grant attempted repeatedly to raise concerns with the centre's chair and other board members. Michael Dempster was Scots Scriever from 2018–2020 A formal report submitted to the board on May 19 outlined concerns over a number of transactions. Bold and two other board members resigned immediately after receiving the report, leaving three other members. Two have also since resigned, leaving Grant as the sole trustee of the charity. She has recused herself to maintain impartiality during the investigation. With no functioning board, the centre does not comply with regulations governing charities and is effectively out of action. An email from the Scottish Government's Gaelic and Scots Division, seen by The National, advises Grant to report the matter directly to OSCR and to consider contacting Police Scotland. It confirms that until governance issues are resolved, future grant payments – including a key October instalment – may not be released. READ MORE: Edinburgh International Film Festival 'created in London', critic says 'We are very sorry to hear of these difficulties,' the email states. 'The most urgent step for you to take is to contact OSCR.' Staff at the centre have expressed shock at the government's response, particularly since Holyrood recently passed its Languages Act. Staff have said they expected a more 'interventionist approach' given that the centre is the main Government-funded body delivering on the SNP's manifesto commitments on Scots. One source said: 'The civil service attitude seems to be, 'go away and don't bother us', This is dismaying after so many years of working closely with the Government. 'If the centre is unable to pay for its website, the information and resources contained in it could be lost as early as August. "We are shocked at how unbothered the civil servants appear to be about this.' The Scottish Government declined to comment, pointing to the OSCR. In a lengthy email to staff, Dempster describes the treasurer's correspondence as 'incomplete and incorrect' and accuses Grant of refusing to engage constructively. 'Due to the governance issues, the inability for the charity to remit invoices, and other issues, I am finding lawyers unwilling to engage with the matters. I will persevere,' he wrote. He also suggests that the allegations are being 'fully investigated' by OSCR, should not be treated as fact, and disputed any wrongdoing. Staff remain in limbo. According to one, who asked not to be named, communications have dried up and day-to-day work is no longer being published on the centre's website – reportedly because editorial access remains with Dempster. It is understood staff have more than 15 articles written by staff "remain unpublished'. READ MORE: Bòrd na Gàidhlig announces funding for 27 Gaelic officers as scheme reopens Grant told the Government: 'The centre is not operating effectively. No communication is taking place and staff members are concerned.' Dempster had told staff: 'I am unsure if we can be laid off until we can work again, as there is both work to be done and … workers and employees would be paid whilst they are laid off.' There are now fears the charity's annual accounts – as things stand – will not be signed off due to the ongoing row. An OSCR spokesperson said: "OSCR has received concerns about the charity and is engaging with those involved to understand the issues raised. "Any potential criminal matters fall outside OSCR's remit and would be for Police Scotland to consider." Dempster and Grant have been contacted for comment.
