Oscar Health (OSCR) shares rose nearly 4% before the bell on Thursday after the company posted a smaller-than-expected loss in the third quarter, with CEO Mark Bertolini expecting the company to return to profitability in 2026.

“Our disciplined pricing and geographic expansion position us to profitably grow market share, and we are confident in our ability to expand margins and return to profitability in 2026,” Bertolini said.

The company's third-quarter loss per share came in at $0.53, compared with Wall Street expectations of a loss of $0.58, according to data compiled by Fiscal AI.

Oscar Health's quarterly revenue was about $2.99 billion, compared to $2.4 billion a year ago. This compares to an estimate of $3.08 billion. The company stated that the increase in revenue compared to the same period last year was driven by higher membership. Still, it was partially offset by an increase in the net risk adjustment transfer accrual.

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