🔹 Revenue: $2.86B (Est. $2.92B) 🔴; +29% YoY
🔹 EPS: ($0.89) (Est. ($0.84)) 🔴
🔹 Membership: 2.03M (vs. 1.58M YoY)
FY25 Guidance
🔹 FY Revenue: $12.0B–12.2B (Est. $12.01B) 😐
🔹 Reaffirmed all previously updated metrics from July 22, 2025
Other Metrics
🔹 MLR: 91.1% (vs. 79.0% YoY)
🔹 SG&A Ratio: 18.7% (vs. 19.6% YoY)
🔹 Adj. EBITDA: ($199.4M) (vs. $104.1M YoY)
🔹 Net Loss: ($228.4M) (vs. $56.2M income YoY)
🔹 Loss from Operations: ($230.5M) (vs. $67.8M profit YoY)
Commentary
🔸 “We believe the individual market has long-term upside and is the future of healthcare.” – CEO Mark Bertolini
🔸 Expect to return to profitability in 2026
🔸 Membership up significantly YoY, but impacted by risk adjustment accruals due to market morbidity
🔸 SG&A leverage improving, but loss widened due to higher-than-expected risk adjustment costs